Fintech

Macy’s sent a letter to its card users announcing an increase in the interest rate on its credit card to 34.49%, which appears to be a record high. Macy’s joins a group of other retailers now offering APRs over 30% on their store cards, including Petco, Good Sam, Michaels, and Exxon Mobil. Store-only cards charge […]

When you think about a disputed card charge, most people’s minds go directly to identity theft and criminal scams. But most chargebacks don’t fit into that category. Rather, they are what has come to be known as first-party misuse, or “friendly fraud.” Friendly fraud occurs when a cardholder inadvertently reports a legitimate transaction as fraud. […]

The surge in digital payments for online purchases has led to a permanent shift in the behaviour of consumers, a report by Kearney observed in its report titled, ” How Urban India Pays” adding that even it is influencing offline transactions as well. According to the observations made by the report, a significant 90 per […]

Africa-focused payments technology firm enza has partnered with money movement company TerraPay. The collaboration, announced Wednesday (July 10), is designed to promote financial inclusion in Africa, the companies said in a news release provided to PYMNTS. That means enza—with offices in South Africa and Egypt—can harness TerraPay’s connectivity to more than 2.1 billion mobile wallets, […]

Esker has expanded its Source-to-Pay (S2P) platform to include new features focused on helping businesses comply with environmental, social and governance (ESG) regulations worldwide. These features are designed to help chief financial officers (CFOs) manage continually evolving regulatory frameworks, mitigate risk and enhance visibility, reporting and collaboration, the company said in a Tuesday (July 9) […]

Marriott International has launched an online travel booking program designed for small- to medium-sized businesses (SMBs). The new Business Access by Marriott Bonvoy combines a suite of online booking tools with benefits and rewards from Marriott Bonvoy’s portfolio of brands, the company said in a Tuesday (July 9) press release. “Whether small- to medium-sized businesses […]

B2Broker has launched a turnkey solution designed to help enterprises create and develop their proprietary trading (“prop trading”) firms. The new solution, B2Prop, is designed to help prop trading firms, crypto and foreign exchange (FX) brokers and multi-asset brokerage houses diversify their products and expand their customer base, the company said in a Tuesday (July […]

Target has become the latest retailer to stop accepting paper checks as payment, joining other major merchants such as Whole Foods and Aldi. As of July 15, consumers will no longer be able to write a check at Target. Target cited “extremely low volumes” for the decision, which should not come as a surprise. According […]

With the landscape of payments continually being redefined, revisited, and reimagined, one might speculate on the ingredients vital for achieving success in the future of payments. Forrester emphasizes that in the years ahead, “it’s the payment experience, not the payment, that matters,” while McKinsey argues that returns in the future payment landscape “will accrue to […]

The Consumer Financial Protection Bureau (CFPB) found that once many banks freeze accounts for suspicious activity, it can be difficult for consumers to regain access to their funds. In many cases, financial institutions didn’t notify customers that their account had been blocked. In others, the banks notified their customers but failed to give them guidance on how […]