In an age where technology continues to evolve at an exponential pace, the integration of smart devices into consumers’ daily routines has become increasingly prevalent.From smartphones to smartwatches, these devices have not only transformed communication and access to information but have also revolutionized financial transactions. The widespread adoption of contactless payments, enabled by near-field communication (NFC) technology, exemplifies this shift. Now, recent developments in wearable technology a ...

Visa Cross-Border Solutions and LemFi have expanded their existing partnership globally.This partnership brings together the capabilities of Visa Cross-Border Solutions, which is a Visa division specializing in cross-border money movement, and LemFi, which is a U.K.-headquartered remittance firm, the companies said in a Wednesday (March 20) press release emailed to PYMNTS.“The combination of our expertise and our technology platform puts us in a very strong position to expand internationally in the coming m ...

PDD Holdings, the multinational commerce group that owns and operates shopping platforms Pinduoduo and Temu, saw its revenue double year-over-year as consumers sought “value for money.”The company’s total revenues in the fourth quarter of 2023 were $12.5 billion, up 123% from the same quarter a year earlier, PDD Holdings said in a Wednesday (March 20) press release.“In the fourth quarter, we saw growing demand driven by encouraging consumer sentiment,” Jiazhen Zhao, executive director and co-CEO of PDD Hold ...

NX Technologies raised 22 million euros (about $24 million) in a Series B funding round led by PayPal Ventures.The company will use the capital to strengthen its market position in Germany, expand into new markets in Europe and grow its digital payment management platform for the automotive industry, bezahl.de, NX Technologies said in a Wednesday (March 20) press release.The new product development will focus on “enabling automotive players to offer embedded finance products to their customers at the right ...

Nvidia’s latest chips could help transform the commerce industry by enabling AI applications to run faster and more efficiently, experts say. The B200 GPU, announced Monday (March 18) at Nvidia’s annual developers conference during a keynote by CEO Jensen Huang, is a computer chip that can deliver up to 20 petaflops of FP4 processing power, thanks to its 208 billion transistors.Furthermore, Nvidia noted that a GB200, which integrates two B200 GPUs with a single Grace CPU, can increase performance by up to 3 ...

With the wild success of its summer and fall Prime Day events, Amazon is looking to bring in a similar boost in the spring.The company recently announced its Big Spring Sale, running Wednesday through Monday (March 20-25), offering deals on seasonal items including cosmetics, sports gear, outdoor products, apparel and electronics.The move could help the eCommerce giant drive up its Q1 results in the last few days of the quarter. In 2023, its first-quarter sales were significantly lower than Q3, which includ ...

Professional services firm Accenture has acquired supply chain logistics specialist Flo.The deal, announced Tuesday (March 19), will move Flo’s 280 employees to the Accenture Oracle Business Group, strengthening its ability to help clients prepare for the supply chain’s digital transformation.Headquartered in the Netherlands, Flo chiefly works with enterprise clients in Europe in an array of industries including retail, automotive, consumer goods, manufacturing, mining, energy, chemicals and government.“For ...

Nvidia is rolling out a new series of artificial intelligence (AI) products at its annual developer conference in San Jose, California, as it strives to strengthen its reputation as the top choice for companies specializing in AI technologies. On Monday (March 18), Nvidia unveiled its latest generation of AI chips and software designed to power AI models. The company also introduced foundational models for humanoid robots. Following the AI surge triggered by OpenAI’s ChatGPT in late 2022, Nvidia has seen it ...

Nvidia is reportedly in talks to acquire Run:ai, an Israeli startup that provides an artificial intelligence (AI) infrastructure orchestration and management platform.The potential deal, which is in advanced negotiations, could total “many hundreds of millions of dollars” or as much as $1 billion, Calcalist reported Sunday (March 17), citing unnamed sources.Reached by PYMNTS, an Nvidia spokesperson declined to comment on the report.Run:ai did not immediately reply to PYMNTS’ request for comment.The Run:ai p ...

For years, the working relationship between Amazon and FedEx has been a little unpredictable. Once, the two corporate behemoths enjoyed a symbiotic partnership, but in 2019, they drifted apart, eventually cutting ties altogether in what one Amazon executive labeled a “conscious uncoupling at its finest.” Now comes news that the eCommerce giant and the delivery titan are once again in talks about re-forming a working relationship. Related: New Consumer Spend Data Finds Amazon Way Ahead of WalmartThe discussi ...