Economic news

As the concept of smart cities — urban settings undergoing a digital transformation through "internet of things" technology and connected platforms — evolves, so too will the concept of making a payment.

The president’s escalating criticism of the central bank might be bluster. But it raises questions about how far he might go and what would happen if he tried to act.

Three former CFPB officials seek more enforcement against lenders; Federal Reserve interest rates hikes have boosted bank profits.

Atlanta Fed chief says consumers don't know the risks of using nonbank payments providers, like Apple Pay; equity derivatives desks will reap rewards of volatility.

President Trump stepped up his attacks on the Federal Reserve Board and its chairman, Jerome Powell, blaming the central bank for declines in the stock market.

The Federal Housing Administration's risk-sharing program with the Federal Financing Bank began as a temporary fix, but the agency is exploring how to make it more permanent.

On five days starting with Thanksgiving and continuing through Cyber Monday customers purchased millions more products compared to the same period last year.

If the predictions prove correct, the benchmark rate would reach 3.50% by the end of next year.

Black Friday and Cyber Monday up the ante for payment crime, but there are steps retailers and payment companies can take, according to OneSpan’s Will LaSala.

AI-driven analytics can help both pure-play and brick-and-mortar brands understand the frustrations of their users at an elemental level — which buttons remain unclicked, which form fields make them leave, and which customer paths are dead ends, writes Jonathan Cherki, CEO and founder of ContentSquare.

B2B transactions are still heavily reliant on checks, and a lot of fintechs hope businesses are ready to break the habit. Silicon Valley fintech Coupa’s part of the parade of innovation, offering a virtual card and a payments-as-concierge approach.

The Omidyar Network has invested in five challenger banks. Tilman Ehrbeck, who is leading its financial inclusion efforts, says the firm will invest more in apps for gig workers and retirees next year.

While it takes a lot of effort from many different parties to reduce digital and financial inequality, it all starts with affordable internet connectivity, writes Sebastien Codeville, CEO of KaiOS Technologies.

Cargo, a provider of in-car commerce systems to the ride-sharing market, is now accepting Venmo as a payment option to complete in-car transactions.

Uber Technologies Inc. is rolling out a new rewards program starting Wednesday, offering its most loyal users cash back on rides, priority airport pickups and free phone support.

Given Chinese consumers’ appetite for U.S. and foreign brands, retail companies planning to participate in this year’s holiday sales in China should consider capitalizing on China’s huge holiday sales by adopting mobile pay and influencer marketing and by emphasizing quality and authenticity, according to Franklin Chu, managing director for Azoya USA.

The Senate is poised to confirm Kansas Banking Commissioner Michelle Bowman to the Federal Reserve Board. But the nominations for the two other open seats are still in limbo.

A multichain architecture that allows synergy between different platforms is the only viable option for ambitious applications, writes Evan Kereiakes, core researcher at Terra.

In its 10th year promoting an unofficial Chinese holiday celebrating singlehood, Alibaba’s online sales hit a record $30.8 billion (RMB213.5), exceeding last year’s record by 27 percent.

Adapting to Chinese consumers’ expectations of mobile pay options can help international retailers remain relevant and competitive by offering an easy, smooth, and interactive customer experience, writes Franklin Chu, managing director for Azoya USA.