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Spire, a fintech company, has hired former Fiserv executive Jennifer LaClair as its new CEO to help grow its pay-by-bank services, which allow consumers to make direct payments from their bank accounts to merchants. The company has also raised $10 million to expand these services.
Bank of America is undertaking a major revamp of its credit card program, with artificial intelligence playing a central role. The goal is to leverage AI to drive profits and attract more customers to the bank's credit card offerings.
The article explores how stablecoins can streamline B2B payments by reducing friction and costs associated with cross-border transactions, foreign exchange, and intermediary banks. Stablecoins offer a more transparent and efficient alternative to traditional payment methods, which is particularly beneficial for businesses operating in different jurisdictions.
Sapiom, a startup founded by a former Shopify payments director, has raised $15 million to build a financial layer that allows AI agents to automatically purchase and access external software, APIs, and data services needed to power their applications. This aims to eliminate the backend infrastructure challenges faced by non-technical creators when trying to launch their AI-powered apps into full production.
Payoneer's CFO Bea Ordonez discusses the company's plans to focus on expanding its core ecosystem, strengthening partnerships, and building out strategies for stablecoin and AI amid a 'stop-start' economy.
Mastercard plans to provide agentic AI tools to merchants using its services by the end of June, allowing them to leverage AI capabilities in their credit and lending processes.
PayPal has struggled to drive widespread adoption of its latest payment technologies among merchants, leading to disappointing financial results and the exit of the CEO. The company acknowledged being too optimistic about how quickly it could drive customer adoption of its reimagined products across its global user base.
Alternative data like utility and rental payments can help thin-file borrowers, but lenders must carefully evaluate which sources add predictive value without bias.