Adidas’ German headquarters was raided on Tuesday in connection with a yearslong tax investigation, the company confirmed to CNBC in a statement. Authorities are investigating customs and tax regulations for products imported into Germany over a roughly five-year period from October 2019 to August of this year, a spokesperson said. Offices at the company’s headquarters […]
As digital transactions play a role in the financial landscape, financial institutions invest heavily in fraud prevention tools. Efforts to combat fraud in routine digital payments have been successful, but a new challenge has emerged in the form of social engineering scams. According to the PYMNTS Intelligence report “The State of Fraud and Financial Crime in the U.S.: What FIs Need to Know,” these scams […]
The European BaaS market is expected to experience explosive growth and is projected to reach €100 billion by 2030, says Lunar. Lunar Banking Services already processes over 10,000 transactions daily and supports €5 billion in transaction volume run rate. Now the bank is setting up the Moonrise business, promising to simplify financial connectivity for payment […]
Payments are undergoing a significant evolution, driven by advancements in technology and evolving consumer behaviors. In 2025, the payment landscape globally and in the Philippines is set to become more seamless, secure, and interconnected, according to Visa, a global leader in payments technology. Visa said these changes reflect a broader movement toward efficiency and inclusivity, […]
Oil prices were mixed in early Asia trade on Monday as concerns over weak Chinese demand were offset by rising tensions in the Middle East following the rebel overthrow of Syrian President Bashar al-Assad. Brent crude futures fell by 1 cent to $71.11 per barrel by 1117 GMT. U.S. West Texas Intermediate crude futures rose […]
The US government has imposed fresh export controls on the sale of high tech memory chips used in artificial intelligence (AI) applications to China. The rules apply to US-made high bandwidth memory (HBM) technology as well as foreign-produced ones. Here’s everything you need to know about these cutting-edge semiconductors, which have seen demand soar along […]
Of 2,000 UK adults examined by Tunic Pay, the anti-fraud fintech firm, and Opinium, the market research consultancy, only one in five (21 per cent) said social media platforms were doing enough to tackle payment scams.Firms like TikTok, Facebook, X and Instagram all came under fire in the Tunic Pay survey as it set out […]
Digital financial platform, Ribbon, is gearing up for its next big move to help non-resident Indian diaspora in the UK, as it announces its partnership with Tribe Payments, the digital payments and infrastructure orchestrator that specialises in issuer and acquirer processing. Ribbon is a carbon-neutral digital financial services super-app that was founded in Gibraltar in March 2020 by Ashesh Jani and Suchit Punnose. The multi-purpose […]
Google sued the Consumer Financial Protection Bureau on Friday, challenging the agency’s decision to place Google’s payment division under federal supervision. In a copy of the lawsuit provided by Google, the company said the CFPB’s supervision would be a “burdensome form of regulation” imposed based on a “small number of unsubstantiated user complaints.” The CFPB’s […]
The US economy added more jobs than forecast in November while the unemployment rate ticked higher as the labor market rebounded from a month negatively impacted by severe weather and labor strikes. Data from the Bureau of Labor Statistics released Friday showed 227,000 new jobs were created in November, just above the 220,000 expected by […]
The European Central Bank (ECB) has published its second progress report on the digital euro’s preparation phase, which was launched on 1 November 2023, and is setting the groundwork for the potential issuance of a digital euro. The digital euro project is a European initiative designed to benefit millions of citizens across the euro area. […]
Salesforce shares were up 9% on Tuesday after the company’s fiscal third-quarter earnings report showed revenue and fiscal fourth-quarter guidance that exceeded analysts’ expectations. Here’s how the company did compared with what Wall Street was expecting, based on a survey of analysts by LSEG: The company’s revenue grew 8% year over year during the fiscal third […]
