PYMNTS News

Grocery Shoppers Not Only Trade Down but Now Cut Back
Grocery Shoppers Not Only Trade Down but Now Cut Back
September 28, 2023  |  Economy

As consumers’ economic challenges persist even with grocery inflation declining, brands and merchants alike are seeing consumers pull back on food and beverage purchasing. Food...

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Report: China Evergrande Chair Detained for Unspecified Crimes
Report: China Evergrande Chair Detained for Unspecified Crimes
September 28, 2023  |  International

China’s largest property development company has halted trading after its chairman was reportedly detained. As the Wall Street Journal reported Thursday (Sept. 28), law enforcement in China...

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Banks Tap Virtual Cards to Help Businesses Streamline Expense Management
Banks Tap Virtual Cards to Help Businesses Streamline Expense Management
September 28, 2023  |  B2B Payments

Businesses have long relied on debit and credit card transactions, but digitization is ushering a new era of more secure electronic payment options, such as...

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UPS Acquires MNX to Enhance Time-Critical Logistics for Healthcare
UPS Acquires MNX to Enhance Time-Critical Logistics for Healthcare
September 28, 2023  |  Acquisitions

UPS has entered into an agreement to acquire MNX Global Logistics, a global time-critical logistics provider. This move aims to enhance UPS’ precision and capability in offering...

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CarMax Reports Shoppers ‘Staying on Sidelines’ Amid High Interest Rates
CarMax Reports Shoppers ‘Staying on Sidelines’ Amid High Interest Rates
September 28, 2023  |  Economy

Some would-be car buyers are putting off purchases due to higher interest rates, according to used auto retailer CarMax. They are “staying on the sidelines”...

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Report: 40% of CFOs Cut Spending Due to Rate Hikes
Report: 40% of CFOs Cut Spending Due to Rate Hikes
September 28, 2023  |  CFO

A new survey finds a growing number of CFOs trimming spending due to higher interest rates. The survey, issued earlier this week by Duke University’s Fuqua School of...

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Breezit Raises $2 Million to Bring AI to Wedding Planning
Breezit Raises $2 Million to Bring AI to Wedding Planning
September 28, 2023  |  Investments

Breezit has raised $2 million to help couples use artificial intelligence to plan their nuptials. The pre-seed round, announced Thursday (Sept. 28), was led by Practica Capital and will help...

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New Indonesian eCommerce Rules Hinder TikTok’s Expansion Goals
New Indonesian eCommerce Rules Hinder TikTok’s Expansion Goals
September 28, 2023  |  Social Commerce

TikTok’s plan to invest heavily in Indonesian eCommerce is apparently hitting a roadblock. As Bloomberg News reported Thursday (Sept. 28), the company is now subject to new rules...

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Visa: New Fraud Dispute Rules Will Save Merchants ‘Billions’
Visa: New Fraud Dispute Rules Will Save Merchants ‘Billions’
September 28, 2023  |  VISA

Visa says it has made it easier for merchants to fight so-called “friendly fraud.” The payments giant on Thursday (Sept. 28) announced an update to its dispute process...

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