Brazilian investment firm Upload Ventures is reportedly upping its artificial intelligence (AI) investments while avoiding credit FinTechs. That’s according to a Bloomberg News interview Wednesday (Sept. 11) with Carlos Simonsen, co-founder and managing partner of the venture capital (VC) firm. “There are a lot of...
Financial services enabler Paymob raised another $22 million to expand its offering in its core market of Egypt and its newer markets in Gulf Cooperation Council (GCC) countries. The $22 million Series B extension round follows a $50 million initial Series B funding round in...
Fast-fashion brand Zara is bringing its secondhand clothing marketplace to the U.S. Zara Pre-Owned, which lets customers sell, donate or repair secondhand clothing, is set to launch in the U.S. by the end of October, parent company Inditex announced in its half-year earnings report Wednesday (Sept. 11). The company first introduced...
Artificial intelligence experts are advocating for safety legislation in California, while Australia is introducing a national AI regulation plan, marking a worldwide trend toward increased AI governance. Simultaneously, the U.S. Commerce Department is proposing new reporting requirements for advanced AI models, underscoring the mounting emphasis...
Last month’s arrest of Telegram CEO Pavel Durov spotlighted the platform’s ties to criminal activity. The crimes include people trafficking in weapons, stolen identities and child sexual abuse material. Add to that list another offense: returns fraud. Messaging apps like Telegram have become a popular...
The Consumer Financial Protection Bureau (CFPB) ordered TD Bank to pay about $28 million in redress and penalties, saying the bank provided consumer reporting agencies with information about its customers that was inaccurate and negative. A CFPB investigation determined that TD Bank repeatedly gave these...
Revolut enjoys the distinction of being the most valuable FinTech in Europe. But as a report Wednesday (Sept. 11) by Bloomberg News points out, the company has also been saddled with a less desirable title: it leads its competitors in complaints about authorized push payment (APP) scams....
Finexio and Unimarket have partnered to launch a payment risk assessment and management tool. The new Payment Risk Score (PRS) is designed to tackle payment fraud by offering enterprises a data-driven approach to assessing risk levels across common payment methods, the companies said in a...
Boost Payment Solutions has introduced a solution that allows enterprise buyers to use their existing U.S.-issued commercial cards to pay suppliers in more than 180 countries. The new Boost 100XB also enables financial institutions and program managers who issue commercial cards on U.S.-based BINs to expand the...
