In this feature, we look at the rise of open source platforms in financial services, and how banks & finservs can shift their mindset to see its benefits In February 2024, FinTech Magazine attended State of Open Con 24 in London, where hot on the agenda was the work financial institutions are undertaking today with […]
Shares of Carvana popped more than 30% during after-hours trading Wednesday after the automaker reported record results and turned a profit during the first quarter. Here is how the company performed in the first quarter, compared with average estimates compiled by LSEG: Earnings per share: 23 cents — it was not immediately clear if it was comparable to […]
Trump Media shares dropped sharply Wednesday, closing down by more than 9.5%. Trump Media, which trades under the DJT ticker, closed at $45.16 per share, a loss of $4.77 per share. The company, which owns the Truth Social app, is still trading well below the more than $70 per share it opened at in its public trading debut on March […]
Buy now, pay later provider Sezzle is gamifying on-time payments with a loyalty programme designed to encourage financial responsibility. Called Payment Streaks, the new feature promises to reward consumers for consistent and timely payments. By hitting streaks, users move up loyalty tiers that secure benefits such as entry into monthly giveaways and bonuses for referring […]
Pay-by-bank transfers are a common fixture in overseas open banking systems. Americans, however, have been more inclined to use credit cards to facilitate their purchases, especially in online transactions. The popularity of online betting has skyrocketed in the U.S. with the increasing legalislation and social acceptance of the activity. Concerns about the legitimacy of gambling […]
In his annual letter, Mastercard CEO Michael Miebach talks powering the digital economy through expansions in payments, services & embracing new networks Technology is becoming smarter and more intuitive than ever before. In the world of payments, new innovations and greater ease of access to financial technology are supporting many SMEs, supply chains and other services in […]
Walmart on Tuesday said it will close all of its health-care clinics across the country, a stunning reversal of its plans to bring its low-priced reputation to the dentist and doctor’s office along with the grocery aisle. The big-box retailer said it would also shutter its telehealth provider, which it acquired for an undisclosed amount in 2021. Walmart […]
Amazon (AMZN) reported first quarter earnings that topped Wall Street estimates on the top and bottom lines, sending shares of the retail giant up as much as 5% in after-hours trading. Powered by a strong showing from its cloud computing segment, Amazon continued a wave of Big Tech results that have mostly wowed Wall Street […]
HSBC beat market expectations in its first quarter earnings report on Tuesday, and announced the surprise departure of Group Chief Executive Officer Noel Quinn. Revenue came in at $20.8 billion, up 3% from the same period a year ago and compared with the median LSEG forecast for about $16.94 billion. Pretax profit in the January […]
Shares of Apple (AAPL) are down over 10% in 2024 as the tech giant has faced mounting challenges, including increased competition in China, where iPhone sales have dragged. As earnings season heats up, many on Wall Street are eyeing “Magnificent 7” tech stocks, which have led previous market rallies. Creative Strategies CEO and Principal Analyst […]
Consumers not only prefer to use cards when they spend, but they also tend to spend more money when they don’t have to pay with cash. What’s more, paying with cards has gained widespread acceptance across all age groups and regions, signifying a lasting shift in consumer behavior. In general, using cards makes people less […]
The future is digital, and no country has embraced that ideology more than China. Most vendors in the country no longer accept cash. Instead, everyday transactions are conducted by scanning a QR code and paying through a mobile wallet. While this process is straightforward for most banked Chinese citizens, it creates a pain point for […]
