More shoppers than ever are on track to use ”buy now, pay later” plans this holiday season, as the ability to spread out payments looks attractive at a time when Americans still feel the lingering effect of inflation and already have record-high credit card debt. The data firm Adobe Analytics predicts shoppers will spend 11.4% […]
South Korean tech giant Naver Corp. said on Tuesday it has partnered with WeChat Pay to offer a Naver Pay mobile pay and digital wallet service using QR codes across China. Naver said it is the first Korean company to offer such QR payment and online transaction services in partnership with WeChat Pay, also known […]
Nissan will be the victim of cost-cutting “carnage” if it combines forces with Japanese peer Honda, former Nissan CEO Carlos Ghosn told CNBC on Tuesday. “I think, without any doubt, Honda is going to be in the driver’s seat, which is very sad to see after having led Nissan for 19 years [and] brought Nissan […]
Walmart Inc. and one of its financial technology partners allegedly opened expensive bank accounts for delivery drivers of the world’s largest retailer without their consent, a US consumer protection agency said on Monday. The Consumer Financial Protection Bureau sued Walmart and Branch Messenger Inc., claiming they required those in the Spark Driver program to be […]
The five-day strike against Starbucks reached nine states on Sunday, according to its union. The Starbucks Workers United said union workers in Missouri, New Jersey and New York began their strike Sunday after locations in Colorado, Ohio and Pennsylvania joined the strike Saturday. Workers United represents more than 10,000 workers at over 525 stores. A […]
Amtrak temporarily suspended all train service between New York and Philadelphia Sunday morning due to downed overhead power wires that were blocking the tracks. The delays and cancellations come at one of the busiest travel periods of the year, just days before the Christmas, Hanukkah and Kwanzaa holidays and as the region faces freezing temperatures. […]
The year 2024 marked another period of consolidation and strategic growth for Brazil’s digital banking platform Nubank (NYSE: NU). The firm surpassed 100 million customers and reaffirmed its prominent position in the market by expanding its presence in the “high-income segment, pursuing international growth” with a focus on Mexico, and further diversifying its existing portfolio […]
Global payment provider, Mastercard is aiming to bring one billion people and 50 million micro, small and medium enterprises (MSMEs) into the digital economy by 2025. Taking a step towards achieving this goal, it has partnered with Boost, the business-to-business (B2B) commerce platform, to drive the growth of firms operating in last-mile fast-moving consumer goods […]
A federal regulator sued JPMorgan Chase, Wells Fargo and Bank of America on Friday, claiming the banks failed to protect hundreds of thousands of consumers from rampant fraud on the popular payments network Zelle, in violation of consumer financial laws. Also named as a defendant in the lawsuit is Early Warning Services, a fintech company […]
Ant Group, the fintech affiliate of Alibaba Group Holding, said it had no immediate plans to revive its initial public offering (IPO), dispelling market speculation it would soon go public. The Chinese company shocked investors in November 2020 by cancelling its US$39.7 billion IPO in Hong Kong and Shanghai less than 48 hours before market […]
Google has offered up its own proposal in a recent antitrust case that saw the US Department of Justice argue that Google must sell its Chrome browser. US District Court Judge Amit Mehta ruled in August that Google had acted illegally to maintain a monopoly in online search, with the DOJ then proposing a number […]
Party City filed for bankruptcy Saturday for the second time in less than two years. The filing comes after the retailer told employees Friday it would begin “winding down” operations. The nation’s largest party supply chain said in a statement that filing for Chapter 11 bankruptcy would “maximize value” for its stakeholders and close in […]
