How Fostering Technical Inclusion Pays Significant Dividends
Although there have been monumental advances in building financial inclusion worldwide in recent years, substantial gaps remain. For instance, across the Americas, the financial infrastructures in the United States and Latin America have pronounced differences. Some of the most important distinctions between these economies stem from technical barriers within business operations and products—barriers that often […]
Chipotle Learns the Cost of California’s Gift Card Law
Chipotle is the latest retailer to learn that circumventing California’s gift card cash-out laws can cost far more than the value of the cards. The fast-casual restaurant giant was hit with a $246,000 fine over allegations that it failed to allow customers to redeem the unused portion of their gift cards in cash, as required […]
Klarna Launches Premium Memberships, No Credit Card Needed
As credit card companies expand their premium offerings, Klarna is introducing membership tiers that provide perks for a price. The company’s two tiers—Premium and Max—are launching first in Europe, with a U.S. rollout planned in the coming weeks. Subscribers will be able to redeem cash back rewards directly with Klarna’s travel and airline partners and […]
The Big-Picture Approach to Fighting Bank Fraud
Fraud has long been a constant in the financial services industry—for the same reason the notorious bank robber Willie Sutton targeted it: “That’s where the money is.” Yet many financial institutions remain reluctant to invest in the kinds of solutions that can truly counter these threats. As technology continues to evolve—both for banks and for […]
PayPal, OpenAI Team Up for Agentic Shopping
In a step forward for agentic commerce, PayPal has signed a deal with OpenAI to embed its digital wallet into ChatGPT, enabling users to pay for items they discover through the AI tool. Set to launch next year, the offering will encompass the entire shopping experience—from product discovery to checkout. Merchants will be able to […]
Privacy-Enhancing Technologies Can Supercharge Threat Intelligence
As fraud becomes more prevalent and organized, the need for an overarching solution to identify fraud patterns has grown. However, many financial institutions have been hesitant to share customer data due to compliance and privacy concerns. Privacy-enhancing technologies (PETs) could help address these challenges. PETs enable organizations to share information across the industry while protecting […]
Driving Hyper-Personalization in Digital Banking using AI
Across shopping, streaming, and social media, consumers have grown used to receiving personalized recommendations powered by artificial intelligence. While some may feel less comfortable with AI taking on a similar role in their banking experience, a hyper-personalized digital banking platform can deliver far greater value than simply suggesting the next show to binge. In a […]
Stablecoin Usage Surges After GENIUS Act Passage
Total stablecoin transactions reached $10 billion in August, up from $6 billion in February. In July, the United States passed the GENIUS act, a bipartisan bill establishing a federal framework for the issuance, trading, and custody of stablecoins. The legislation set off a flurry of new stablecoin launches from leading financial services firms, as well […]
T-Mobile Closes Autopay Loophole for Credit Cards
For most merchants, getting customers to enroll in an autopay program is a highly desired outcome. But T-Mobile’s recent move to close a credit card payment loophole for its autopay customers signals there may be an even bigger ambition at play: avoiding interchange fees. T-Mobile has long offered a $5 monthly discount to customers enrolled […]
Why Alternative Payment Methods Are No Longer “Alternative”
Different payment methods have gained popularity in different parts of the world. For example, buy now, pay later is widely used in Australia and the Nordics, while account-to-account payments lead the way in the Netherlands and Brazil. As commerce becomes increasingly globalized, merchants everywhere must adapt to these local payment preferences—or risk losing customers. In […]