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PYMNTS.com 06/03/2020 16:47
After bolstering their supply chain payment practices, five companies that were suspended from the Prompt Payment Code (PPC) in the past have been reinstated. Screwfix, IBM, Seddon Construction, Kier Highways and BT PLC were the five reinstated companies, according to an announcement. Interim Small Business Commissioner Philip King said in the announcement that “a growing […]
PYMNTS.com 06/03/2020 16:10
Condominium sales in Manhattan plummeted by 84 percent in May as the COVID-19 pandemic and protests following the death of George Floyd at the hands of the police have chilled the real estate market. CNBC, reporting on data from UrbanDigs, the New York-based analytics provider for Manhattan’s residential real estate market, found that there were 160 purchase […]
PYMNTS.com 06/03/2020 16:09
Isn’t it surprising to know that 70 percent of financial institutions are just now adopting cloud computing solutions? Or how about this fact: over 90 percent of the world’s top 100 banks still use physical mainframes running 20th century style. So, what’s holding up the upgrades? It’s that old devil, legacy, and a smidgen of […]
PYMNTS.com 06/03/2020 15:58
To speed up fleet and billing functions for truck drivers as well as back-office staffers, mobile capture and workflow technology company Vector has teamed with transportation management software firm McLeod Software, according to an announcement. Vector’s mobile application can now be put into place alongside McLeod’s DocumentPower and LoadMaster to simplify document collections and speed […]
PYMNTS.com 06/03/2020 15:39
Homeowners in China and beyond will soon be able to use smart speakers to turn on the lights and control the microwave under a new partnership between Chinese search and artificial intelligence giant Baidu and smart device manufacturer Midea Group. The two Beijing-based companies have announced a “strategic partnership” through which users can control Midea’s […]
PYMNTS.com 06/03/2020 15:35
For many more Americans than usual, COVID-19 woes mean that “soup’s on!” Now, the Campbell Soup Company’s top executive predicts that his company’s products will keep moving right off the shelves, even as U.S. lockdowns ease. When the COVID-19 crisis hit, consumers hunkered down by stocking up on Campbell Soup products, leaving many shelves bare. […]
PYMNTS.com 06/03/2020 15:06
In today’s top news, PayPal and Facebook are to take stakes in Indonesia’s Gojek, and the Reserve Bank of Australia is considering cutting costs of electronic payments to encourage eBanking. Also, Wells Fargo will no longer offer loans to independent auto dealers. PayPal, Facebook Take Stakes In Gojek PayPal and Facebook are collaborating on a […]
PYMNTS.com 06/03/2020 14:46
Varo Money Inc., the mobile banking company, closed on a $241 million Series D funding round, the San Francisco-based company announced on Wednesday (June 3). Varo said it will use the investment toward growth and creating products that can “build the financial resilience of everyday Americans.” So far, Varo has raised $419.4 million and said it […]
PYMNTS.com 06/03/2020 14:20
A top American Express executive sees trouble on the horizon for the economy as the effects of the COVID-19 recession continue to devastate. Chief Financial Officer Jeff Campbell reportedly said: “The question is: Where does the economy go over the next six to 12 months?” He said there could be additional economic woes as large […]
PYMNTS.com 06/03/2020 13:39
After a dark and difficult few months, there might finally be some light at the end of the tunnel for some restaurants as spring 2020 turns into summer and businesses start to open in a limited fashion nationwide. Recent data from NPD Group shows that while restaurant chain transactions fell 18 percent year over year decline in […]
PYMNTS.com 06/03/2020 13:33
SoftBank is rolling out a $100 million loan fund targeted exclusively at minority-led startups, in the latest move by a big corporate player to address racial inequities in the United States amid coast-to-coast protests over police brutality. In a widely-reported letter to employees, Marcelo Claure, SoftBank’s chief operating officer, noted that the new Opportunity Growth […]
PYMNTS.com 06/03/2020 12:15
PayPal has re-upped its stake in Tink with an investment of an undisclosed size that was part of a previously announced 90 million euro funding round. Daniel Kjellén, co-founder and CEO of Tink, said in the announcement, “As Europe’s leading open banking platform, we are looking forward to continuing to support PayPal as they extend and enhance […]

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