News

B2B Payments
Interoperability and Extensibility Will Define New Era for B2B Payments
June 10, 2024

As the world gets increasingly globalized, the ways that businesses transact become more important. With the Bank for International Settlements’ Committee on Payments and Market Infrastructures emphasizing in its June report that a key priority area for cross-border payments is payment system interoperability and extension,...

Retail
Discount Retailers See Sales Upticks as Paycheck-to-Paycheck Shoppers Trade Down
June 10, 2024

As inflation continues to erode purchasing power, financially unstable consumers, squeezed by higher prices on everything from groceries to gasoline, are increasingly turning to discount and value-focused retailers. This trade-down behavior is providing a boost to companies such as Dollar General, Dollar Tree and The...

Retail
Michael Kors Offers Customers Mastercard’s AI-Powered ‘Muse’
June 10, 2024

Fashion retailer Michael Kors adopted Mastercard’s artificial intelligence-powered shopping assistant. The retailer is the first to make Shopping Muse available to its customers via an integration with its U.S. website, the companies said in a news release Monday (June 10). “With summer adventures and wedding...

CFPB
Are Fireworks Ahead as CFPB Director Testifies on Capitol Hill?
June 10, 2024

Consumer Financial Protection Bureau Director Rohit Chopra is set to testify on Capitol Hill this week. He is scheduled to appear before the Senate Banking Committee Wednesday (June 12) and the House Financial Services Committee Thursday (June 13) to present “The Semi-Annual Report of the...

eCommerce
eCosmetics Co-Founder Bridges the Trust Gap for Online Beauty Shoppers
June 10, 2024

As beauty brands look for ways to gain digital shoppers without being able to offer in-store product trials, eCosmetics is seeing sampling prove vital to winning over new customers. Alex Irvin, co-founder at the online retailer, which sells beauty and personal care products, explained in...

Faster Payments
Citi Adds Real-Time Funding to Treasury Offerings
June 10, 2024

Citi introduced Real-Time Funding (RTF), part of its real-time treasury solutions for corporate customers. “Citi RTF enables the automated movement of funds between cross-border accounts based on predefined rules set by the client, helping them ensure that cash is available when and where it’s needed,”...

Payments Innovation
Denim Gets $63M to Turn Freight Brokers Into ‘Smart’ Brokers Using Payments
June 10, 2024

For Bharath Krishnamoorthy, co-founder and CEO of Denim, transforming the freight industry — and specifically how brokers get paid — was not on the roadmap. A decade ago, when he was in law school, he told Karen Webster, “I didn’t know what factoring was. Trucks...

Security & Fraud
Tokens See Double Duty as Protection From Fraud and Transaction Failures
June 10, 2024

Network tokenization, a technology that replaces sensitive payment card data with unique digital identifiers, has been a hot topic of late. Long known as an effective eCommerce fraud fighter, it was a centerpiece of Visa’s series of announcements that brought merchants into the data token...

Social Commerce
Pinterest Taps VTEX to Help Brands Embrace Social Commerce
June 09, 2024

Pinterest has launched a partnership with composable commerce platform VTEX. The new collaboration is designed to help consumer brands expand their social commerce footprint and connect with more customers, the two companies said last week. According to a news release, VTEX’s platform lets its 2,600...