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Open Document Firm Legado Acquiring WonderBill

Legado has acquired London-based consumer and B2B bill management technology firm WonderBill, the open document and data company said in a news release Monday (Aug. 9). Founded in 2016, WonderBill provides technology that lets consumers manage all their household bills and subscriptions. Legado says it will repurpose this technology to support its B2B personal data management and engagement platform.
BUSINESS
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Data Brief: 76% of Merchants Prefer Third-Party Chargeback Tools to Manage Disputes

An unwelcome side effect of the eCommerce and digital payments boom is the burden of chargebacks and disputes, and more merchants and brands are finding they are better handled by specialized third-party solutions with advanced dispute resolution capabilities. In the study “Dispute-Prevention Solutions: Protecting Profits and Customer Relationships With Third-Party...
INTERNET
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Lyft Launches Advertising Unit With Suite of Products

Lyft is introducing a media and advertising unit with a suite of products designed to help brands reach the growing number of people using rideshare services again now that the pandemic is mostly in the rearview mirror. The company has been working to build out its media business and has...
WASHINGTON, DC

Ethereum 2.0 May Be Greener, but Is It Scalable Enough for Payments?

Next month, the Ethereum blockchain is scheduled to make the long-awaited switch to a much more environmentally-friendly Ethereum 2.0, which will in turn set the stage for a vast scalability increase that will, in theory, allow it to compete as a large-scale payments network on par with Visa and Mastercard.
TECHNOLOGY

Rise of Concept Stores Continues As Abercrombie Tests New 'Getaway' Brand

Demanding times demand new thinking in retail, and brands are rising to the challenge posed by inflation, the pandemic and powerful demographic shifts. Reflecting the crisis burnout millions are feeling and playing to a desire to escape, Abercrombie & Fitch (A&F) this week will test a new store concept called The Getaway designed to convey a sense of getting away from it all with merchandise and store experience adding to the vibe.
LOS ANGELES, CA

UPS Purchasing Health Logistics Firm Bomi

UPS has purchased Bomi, an Italy-based healthcare logistics provider, the delivery giant said in a news release Monday (Aug. 8). According to the press release, the deal adds temperature-controlled facilities in 14 countries and nearly 3,000 Bomi team members to the UPS Healthcare network in Latin America and Europe. “As...
BUSINESS

The Data Point: 56% of Paycheck-to-Paycheck Consumers Cancel Doctor Visits Over Cost

As inflation cuts into every aspect of affordability, consumers are not just cutting back on nonessentials, they’re also canceling medical appointments due to cost concerns. For The Healthcare Conundrum: The Impact of Unexpected Patient Costs on Care, a PYMNTS and Experian Health collaboration, we surveyed nearly 2,500 consumers and found an alarming percentage of consumers backing out of scheduled medical visits over costs.
HEALTH SERVICES

Congressional Recess Kicks Big Tech Vote to Election Season

The bipartisan antitrust bill targeting Big Tech companies like Amazon, Apple and Google is being kicked to the fall election season as Congress readies for its overdue five-week recess after staying late and hustling to pass several pieces of legislation, including the long-awaited climate, tax and healthcare package. Senate Majority...
CONGRESS & COURTS

CFPB Fine Prompts Senators to Demand More Info From US Bank

Several Democratic senators fired off a letter to U.S. Bank CEO Andrew Cecere demanding additional information after the Consumer Financial Protection Bureau (CFPB) fined the financial institution (FI) $37.5 million in a customer accounts scandal. The letter also asks that U.S. Bank brief Congressional staff on the matter and respond...
CONGRESS & COURTS

Virtual Cards Boost Money Mobility for Corporate Spend Management

Consumers have grown accustomed to the idea of low-friction digital payments and account transfers, and businesses that are not keeping up with the push for money mobility ubiquity risk frustrating customers and losing their business. Digital wallets and peer-to-peer (P2P) payment apps continue to grow as a regular feature of consumers’ everyday lives. A nearly endless set of options for financial servicers accounts, from banking to P2P apps, inundate these same consumers, and new account openings continue to rise.
TECHNOLOGY

PYMNTS Summer Series: African Diasporic Brands Go Mainstream With The Folklore

Discovery takes many forms, a popular one being delving into our ancestral roots and coming away inspired by cultural heritage, music, literature and most definitely fashion. It’s a path that took Amira Rasool, founder and CEO at The Folklore Group, from undergrad at Rutgers University to a visit to South Africa, where she was energized by the land of her ancestors and began building a vision for popularizing diasporic fashion in new ways.

Smart Carts With Embedded Payments Put Consumers in Control of Checkout

With PYMNTS research finding that 34% of U.S. consumers are shopping for groceries online —76% for the convenience, 57% for the speed — it’s time for smart carts to start their ascent. Grocery aggregator Instacart’s 2021 acquisition of smart cart first-mover Caper AI signaled a turning point...
RETAIL

Regulators Fail to Rein In Risk of Shadow Banking, Former BoE Official Says

U.K. financial regulators haven’t tackled risks adequately, ex-Bank of England governor Paul Tucker says, and now they should construct a “comprehensive” new policy. Tucker said the BoE had been working inadequately on the “shadow banking” sector, which refers to a wide swathe of entities connected to banking, including bond funds, private lenders and companies working in crypto.
ECONOMY

Deutsche Bank Taps Traydstream for Automated Document Checking

Deutsche Bank will be working with Traydstream to automate document checking, a press release from Traydstream says. Deutsche Bank will work on digitizing and automating its documentary trade business, with more control and an assurance of scalability for profitable growth. The goal is to boost corporates’ experience in the letters...
ECONOMY