Cuba has reportedly banned its small businesses from using U.S. bank accounts, just weeks after the Biden administration allowed Cubans to use the banking system. Havana’s decision comes at a time when the country is having its worst economic crisis since the collapse of the Soviet Union and is dealing with inflation that hit 31% […] The post Cuba Bans Small Business From Using US Bank Accounts appeared first on PYMNTS.com ..read more

Three federal bank regulatory agencies said Thursday (July 25) that they are considering “additional steps” to ensure banks effectively manage risks associated with bank-FinTech arrangements. The agencies said this as they released a joint statement about banks’ third-party deposit arrangements and issued a request for information on bank-FinTech arrangements. The Board of Governors of the Federal Reserve System, […] The post Bank Regulatory Agencies Considering ‘Additional Steps’ to Govern Bank-FinTech Arrangements appeared first on PYMNTS.com ..read more

Curbee has launched its software-as-a-service (SaaS) mobile service technology platform for car dealers nationwide. This move follows a successful limited launch of the platform in January, the company said in a Friday (July 26) press release. The company also said Friday that it has closed on additional funding, bringing its total amount of funding raised externally to […] The post Curbee Launches Platform to Help Car Dealerships Add Mobile Service appeared first on PYMNTS.com ..read more

Elon Musk’s xAI has reportedly begun training its artificial intelligence (AI) chatbot, Grok, on users’ posts on X, the social media site also owned by Musk. X added a setting this week, available only to those accessing the social media site on the web, that says: “Allow your posts as well as your interactions, inputs […] The post XAI Begins Training Chatbot on Content From X appeared first on PYMNTS.com ..read more

In the digital marketplace, the effortless nature of eCommerce transactions masks a complex network of systems designed to ensure a smooth customer experience. While consumers enjoy a seamless process — from receiving notifications about products to completing purchases with a few clicks — this simplicity is the result of advanced technologies and meticulous back-end operations. […] The post 3 Big Ideas From the PYMNTS Visa SMBTV Series appeared first on PYMNTS.com ..read more

Since the industrial revolution first brought machines into prominence, self-driving vehicles have populated future visions. And with the news that the autonomous delivery robot marketplace is getting a shot in the arm from artificial intelligence (AI), observers are wondering just when self-driving, autonomous vehicles will be a scalable, real-world reality. After all, it was just […] The post Google’s $5 Billion Bet on the Bumpy Road to Self-Driving Cars appeared first on PYMNTS.com ..read more

The Reserve Bank of India (RBI) said Friday (July 26) that it fined Visa Worldwide Pte. Limited for its use of an unapproved payment authentication solution. “It was observed that the entity had implemented a payment authentication solution without regulatory clearance from RBI,” the central bank and regulatory body said in a Friday press release. […] The post Reserve Bank of India Fines Visa for Unapproved Payment Authentication appeared first on PYMNTS.com ..read more

Spotify Founder and CEO Daniel Ek believes the company’s approach to flexibility for its customers is a key success factor. Second-quarter earnings, reported on Tuesday (July 23), highlightedSpotify’s accelerated revenue growth, achieving record highs for both gross margin and operating income. Innovations like daylist and AI DJ, alongside video podcasts and audiobooks, have deepened user […] The post Spotify Shifts From One-Size-Fits-All to Tailored Plans appeared first on PYMNTS.com ..read more

It was a week that saw a presidential campaign end, the Summer Olympics begin and the start of banking and payments earnings season. We were focused on our usual insightful interviews and comprehensive news coverage and with that in mind we present some of the notable quotes from interviews we conducted with key executives and […] The post They Said That: Notable Quotables From the Week of July 22 appeared first on PYMNTS.com ..read more

Sage and Stripe have partnered to help improve cashflow management and payment processing for small- to medium-sized businesses (SMBs). Stripe’s financial infrastructure platform for businesses will be integrated into Sage’s solutions for SMBs, providing Sage customers with more ways to pay and get paid, the companies said in a Thursday (July 25) press release. The integration is […] The post Sage Enhances Payment Processing for SMBs With Stripe Integration appeared first on PYMNTS.com ..read more