Looking to elevate the credit card experience for consumers in Uzbekistan, TBC Bank Uzbekistan (TBC UZ), a digital bank in the country, has launched its first credit card product. Some of the benefits of the new credit product include a rapid approval process, free issue and delivery, a 55-day interest-free period, as well as competitive APR and […]
China’s retail sales disappointed in November as sentiment in the real estate market weakened further, in another sign that Beijing’s efforts to boost the economy have failed to revive sluggish demand. Retail sales rose by 3% in November from a year ago, according to National Bureau of Statistics data released Monday, missing the forecast of 4.6% […]
Supporting the development of the global digital assets ecosystem, crypto firms, Circle Internet Group Inc., and Binance, have joined forces to expand the adoption of USDC. Through the partnership, Binance will make USDC more extensively available across its full suite of products and services. It will ensure that its more than 240 million global users are able to seamlessly […]
The stock market rally has stalled as the final Federal Reserve meeting of the year approaches. In the past week, the Nasdaq Composite (^IXIC) was the only of the three major indexes to post a weekly gain, closing up more than 0.3%. Meanwhile, the S&P 500 (^GSPC) fell about 0.6%, while a decline in healthcare […]
Digital payments company Block will use its Afterpay buy now, pay later financing option as a “carrot” to lead customers to sign up for its Cash App debit card, one of the firm’s executives said last week. “The BNPL functionality on the Cash App card aims to attract more users,” Owen Jennings, Block’s business lead, […]
Klarna says its pay later options are now available to Apple Pay users in Canada. The Swedish payments company announced the new integration Wednesday (Dec. 11), saying it was available online and in apps for iPhone/iPad users with iOS 18 and iPadOS 18 or later. According to a company news release, Klarna is the first […]
Consumer prices rose at a faster annual pace in November, a reminder that inflation remains an issue both for households and policymakers. The consumer price index showed a 12-month inflation rate of 2.7% after increasing 0.3% on the month, the Bureau of Labor Statistics reported Wednesday. The annual rate was 0.1 percentage point higher than […]
Super Micro Computer (SMCI) stock fell as much as 11% Wednesday, extending the prior day’s decline despite an apparent attempt from its CEO to dispel fears of the stock’s potential delisting by the Nasdaq. Shares closed the trading day down 5.5%. At the Reuters Next conference Tuesday, CEO Charles Liang said he is confident Super […]
Asia-Pacific markets were mixed Wednesday, after major Wall Street benchmarks declined ahead of key inflation data that could influence the Federal Reserve’s interest rate decision. China is reportedly kicking off its annual economic work conference on Wednesday to outline its economic policies and growth targets for next year. Hong Kong’s Hang Seng index reversed gains to trade […]
Adidas’ German headquarters was raided on Tuesday in connection with a yearslong tax investigation, the company confirmed to CNBC in a statement. Authorities are investigating customs and tax regulations for products imported into Germany over a roughly five-year period from October 2019 to August of this year, a spokesperson said. Offices at the company’s headquarters […]
As digital transactions play a role in the financial landscape, financial institutions invest heavily in fraud prevention tools. Efforts to combat fraud in routine digital payments have been successful, but a new challenge has emerged in the form of social engineering scams. According to the PYMNTS Intelligence report “The State of Fraud and Financial Crime in the U.S.: What FIs Need to Know,” these scams […]
Three dealers fell victim to the same sophisticated fraud scheme in just one week. The story, spreading through dealership break rooms across the country, is becoming all too familiar. A new wave of digital payment fraud has hit the auto industry hard, with a particularly nasty scheme targeting Chinese-speaking communities through WeChat. But this time, industry veterans are […]
