Pay-by-bank payments, also known as account-to-account (A2A) payments, allow consumers to transfer funds between bank accounts in real time. These payments bypass traditional card networks and utilize intermediaries like peer-to-peer (P2P) service providers such as Venmo or PayPal. One of the main benefits of A2A...
Open banking promises to forge new financial ecosystems as data is shared among banks, corporates and consumers. Easier said than done. Banks must be on board. Corporates must be on board. And the technological underpinnings must be in place to connect and transmit information in...
Is X getting closer to adding peer-to-peer (P2P) payments to its platform? Elon Musk’s social media company announced plans to launch such an offering earlier this month. Now, X — formerly Twitter — has apparently set up a dedicated payments account. The verified @XPayments account appeared on...
The Consumer Financial Protection Bureau (CFPB) announced Friday (Jan. 19) that it has launched a lawsuit against Strategic Financial Solutions (SFS), charging it with running an illegal debt-relief business. SFS markets itself as a provider of debt-relief services and uses shell companies and facade law firms...
As the economy continues to grapple with rising prices and inflationary pressures, consumers are adjusting their purchasing habits to cope with the erosion of their purchasing power. In fact, a mere 18% of wage earners believe their incomes have matched inflation, prompting a shift toward...
As connected technologies take over brick-and-mortar stores, convenience retailers are increasingly seeing smart shelf tags as key to providing a positive shopper experience. By the Numbers The report “Big Retail’s Innovation Mandate: Convenience And Personalization,” a PYMNTS Intelligence and ACI Worldwide collaboration, drew from a survey...
Artificial intelligence (AI) has become an integral part of businesses and industries, but consumers still have uncertainties about its role in their lives and careers. In the “Consumer Interest in Artificial Intelligence” edition of the “Consumer Inflation Sentiment” series, PYMNTS Intelligence sheds light on consumers’...
A pair of scientists at Google DeepMind, Laurent Sifre and Karl Tuyls, are reportedly in discussions with potential investors to establish their own artificial intelligence (AI) startup in Paris. The potential startup, currently known as Holistic, aims to develop a new AI model, Bloomberg reported Friday (Jan. 19). The startup...
Cross-border money movement’s digital makeover rests with a variety of endpoints. More specifically, the more ways there are to send and receive, the more options there are to house stores of value, and the more streamlined international payments become. To that end, and as PYMNTS reported...
