Recently, the US House of Representatives passed a bill that mandates ByteDance, the Chinese parent company of TikTok, to divest its US assets within a year or face a nationwide ban. This significant move intensifies the pressure on TikTok’s operations in the United States. The bill is now pending the Senate’s approval. This legislative move […]
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RealReal, a platform for luxury resale, said in an SEC filing that it fired 230 workers and shut down four locations last year in an effort to cut costs. This amounted to 7% of its personnel being laid off. Along with two more locations in Atlanta and Austin, the flagship stores in San Francisco and
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Walgreens has yet again announced layoffs of hundreds of employees across two states. The company plans to downsize its branches as part of its cost-cutting efforts. This move will affect almost 650 jobs in Dayville and Orlando, as Walgreens plans to close branches on May 17. This news comes after the recent layoffs in February
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On January 11, 2024, Google announced that it would expand the support for Real-Money Gaming (RMG) apps on Google Play. After several years of test programs, Google Play will permanently offer more RMG apps in nations like Brazil, Mexico, and India. Plans are also in place to expand into more areas. The change follows successful
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Visa has published the Biannual Threats Report for Fall 2023. It highlights emerging frauds and scams that threaten the economy on a global scale. The report suggests a significant increase in phishing scams, now backed by generative AI tools. This Visa report also points out an uptick in enumeration and ransomware incidents. Additionally, it outlines
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Advent International has acquired Nuvei to take it private. The Nuvei acquisition news came just two weeks after the announcement Nuvei was forming a team to evaluate advanced buyout transactions from interested “third parties,” including Advent. Advent is a private equity firm based in the US. Nuvei, initially listed on the Toronto Stock Exchange in
CVS is set to close numerous pharmacies situated within Target stores at the beginning of 2024, according to a statement from a company representative. These closures reflect the challenges that retail pharmacy chains in the US are encountering with their prescription services and workforce management. CVS spokesperson Amy Thibault explained that the affected pharmacies will
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Tuesday Morning has sadly closed its doors for good, marking the end of an era for the home goods retailer. Following the announcement on Facebook and its website last year, the company initiated a going-out-of-business sale, offering 30% discounts on its merchandise at approximately 200 remaining stores. This closure signifies a sad conclusion to the
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Toys “R” Us opened its second store in the Mall of America. This 11,000-square-foot flagship store is the second flagship store in the U.S. after the one in American Dream opened in 2022. Thanks to a landmark deal with Macy’s, there are around 452 Toys “R” Us mini-stores inside every Macy’s nationwide. Adding another milestone
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Macy’s is one of the most well-known department store chains in the US. It is currently making transformational changes, leading to restructuring and store closures due to tough competition from online competitors. The company plans to lay off its 2,350 employees, 3.5% of its total workforce, and close 5 stores. Currently, Macy’s operates 722 store
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Fidelity National Information Services, Inc. (FIS) has achieved another significant milestone in its ongoing commitment to delivering secure and user-friendly open banking solutions to its customers. As a leading global fintech firm, FIS has strategically partnered with prominent data networks, including Envestnet | Yodlee, Akoya, Plaid, and MX. This collaborative effort is part of FIS’s
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Cash App rolled out high-yield saving deposits for its Cash Card users. Per their announcement on X last month, the user can earn up to 4.50% interest. With an option to earn 4.50% interest, they are now directly competing with Apple. Apple recently increased its interest rates. The user must fulfill some essential conditions to
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In response to an unforeseen fourth-quarter loss reported by the discount variety store chain, Dollar Tree and Family Dollar stores will close approximately 1,000 locations throughout the United States. The initial wave of closures will predominantly affect 600 Family Dollar stores within the first half of fiscal year 2024. Furthermore, the company intends to gradually
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Plaid Inc. is a financial technology startup continuously trying to expand its product line and prepare for an upcoming public listing. Recently, Plaid hired Jen Taylor, its first president. Before that, it hired Eric Hart as its CFO. Before joining Plaid, Jen Taylor was the chief product officer of Cloudflare. Taylor previously worked with Salesforce
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PNC Bank recently announced plans to allocate $1 billion toward establishing 100 new branches and upgrade and renovate approximately 1,200 existing locations by 2028. The bank also plans to bolster its presence in Texas by targeting key cities like Austin, San Antonio, Houston, and Dallas. The initiative of opening 100 new branches scattered across the
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Visa Commercial Pay recently unveiled new digital wallet capabilities, allowing financial institutions to combine Visa virtual corporate cards into employees’ digital wallets like Google Pay and Apple Pay. The advanced feature of Visa Commercial Pay Mobile is the commercial token accounts, a secure method that replaces payment information with a unique set of characters. These
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Ex-PayPal CFO Gabrielle Rabinovitch joined Worldpay recently as their CFO. She has a long experience working in the finance industry and has worked with many fintech companies. Rabinovitch’s decision to join Worldpay reflects her confidence in the company’s prospects and potential growth. Her tenure and experience at PayPal have undoubtedly prepared her for this challenge.
Ex-PayPal CFO Joins WorldPay in Same Role Read More »
NMI, a provider of embedded payments solutions, recently launched NMI Payments, a comprehensive solution designed for software companies, ISOs, and payment professionals. This platform seamlessly integrates into existing applications and payment solutions, offering a flexible and modular approach to expedite and streamline payment processes. The focus is on enabling partners to efficiently manage the entire
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