Standard Chartered has partnered with Visa to facilitate cross-border B2B payments for the bank’s corporate clients. The bank has joined the Visa B2B Connect multilateral payment network and has become Visa’s new settlement partner for a set of currencies, the companies said in a press release emailed to PYMNTS.The solution will launch first for clients of Standard Chartered Singapore and will be expanded to more entities in the coming months, according to the release. “In today’s increasingly interconnecte ...

Verizon is crediting flexible price plans and streaming bundles for its slowing customer losses.The wireless provider on Monday (April 11) reported that it lost 68,000 monthly wireless phone subscribers during the first quarter of 2024. According to a report by CNBC, that was compared to a loss of 127,000 in the first quarter of last year.The company has said that its myPlan offering is now being used by most of its customers, who have responded to the ability to choose a customizable plan option.“These inc ...

Independent digital investment advisor Betterment has reached an agreement with Goldman Sachs to acquire the digital investment accounts of Marcus Invest. Subject to customary closing conditions, those accounts will be transferred to Betterment around June 29, the companies said in a Monday (April 22) press release. Customers will have the option to opt out of this transfer. Those who are transferred will join the more than 850,000 customers served and $45 billion in assets managed by Betterment, according ...

As ongoing financial challenges have grocery shoppers more cautious about their purchasing, many are seeking out digital rewards. In its fourth quarter and full year fiscal 2023 financial results, Albertsons Companies shared that increases in digital engagement led its growth, with identical sales up only 1% year over year in Q4 but digital sales up 24%. Central to this growth was the chain’s loyalty program, which saw its membership grow by 16% to nearly 40 million.“We delivered another solid quarter amids ...

Salesforce’s plans to purchase data-management software provider Informatica have reportedly stalled.While the two sides were apparently in advanced talks for a deal earlier this month, the companies were not able to come to terms, Reuters reported Sunday (April 21), citing a source familiar with the matter.Salesforce provides cloud-based software that assistants companies in managing customer relationships, while Informatica works with businesses such as Toyota and Unilever to help them manage and analyze ...

European Union (EU) antitrust regulators are reportedly preparing to approve Apple’s tap-and-go mobile payments system proposals as early as May. The tech company had proposed to open the system to rivals after being accused by the European Commission (EC) of thwarting competition. After getting feedback from Apple’s rivals and customers, and having the company make some modifications to its proposals, the regulators are set to approve them, Reuters reported Friday (April 19), citing unnamed sources.By sett ...

Many consumers may have traded down to private-label brands in earlier stages of the current period of high inflation, but now, according to Procter & Gamble, shoppers are consistently staying loyal to their favorite name brands.On a call with analysts Friday (April 19) discussing the consumer-packaged goods (CPG) giant’s third-quarter fiscal 2024 financial results, Chief Financial Officer Andre Schulten said consumers are sticking with national brands, no longer sacrificing them for lower-priced store-bran ...

PYMNTS Intelligence has closely watched the two leading U.S. retail giants — Amazon and Walmart — duke it out since 2019, sharing our findings in regularly released reports.As our most recent edition of Whole Paycheck Report, “New Consumer Spend Data Finds Amazon Way Ahead of Walmart,” shows that, despite ever-changing market conditions, Amazon has leveraged a slow, steady climb that started in 2019 and has evolved into its current position of dominance over the U.S. retail market.As the accompanying graph ...

Apple has removed Meta’s WhatsApp and Threads, as well as Telegram and Signal, from its App Store in China.The company was ordered to do so by the Cyberspace Administration of China, which cited national security concerns, Apple told Reuters in a report posted Friday (April 19).“We are obligated to follow the laws in the countries where we operate, even when we disagree,” the tech company told the media outlet.Other Meta apps remain available for download in the App Store in China, including Facebook, Insta ...

Younger, affluent consumers are showing notable resilience when it comes to spending on experiences and travel — and using their credit cards to do so.To that end, Amex said Friday (April 19) that the majority of its account openings have been from Gen Z and millennial consumers.U.S. consumer billed business, which represents cardmember spending tied to transactions and card advances, was up 8% year on year, to $153 billion in the first quarter. Spending on goods and services grew by 8% and on travel and en ...