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Tag: Digital Payments

75% of companies still use paper checks despite high costs

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75% of companies still use paper checks despite high costs

In today’s business environment, effective payment methods are crucial. Outdated payment systems can lead to liquidity problems. Digital payments provide optimized processing, improved operational efficiency and an enhanced customer experience. The PYMNTS Intelligence Report “Get paid: Digital payments to improve cash flow and customer experience” examined how digital payments are changing accounts receivable (AR) and […]

Zip considers partnership with Apple amid increasing BNPL usage

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Zip considers partnership with Apple amid increasing BNPL usage

Australian buy now, pay later (BNPL) company Zip is reportedly considering a partnership with Apple. This collaboration would integrate Zip’s installment plan offering with Apple in the US, CEO Cynthia Scott told the Wall Street Journal (WSJ). The company also plans to announce agreements with major US retailers this quarter, she added. “We don’t currently […]

Walmart-backed PhonePe Group posts profit of Rs 197 crore in fiscal 2024

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Walmart-backed PhonePe Group posts profit of Rs 197 crore in fiscal 2024

New Delhi: Walmart-backed PhonePe Group on Monday reported consolidated net profit (excluding ESOP costs) of Rs 197 crore for fiscal 2023-24. According to a company statement, the company had incurred a loss of Rs 738 crore in the previous financial year. Revenue in FY24 was Rs 5,064 crore, up 73.7 percent from Rs 2,914 crore […]

Indian FinTech PhonePe introduces credit usage via app

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Indian FinTech PhonePe introduces credit usage via app

TelephonePe introduces an opportunity for Indian consumers to diversify their credit lines with the Unified payment interface (UPI) on its platform. Buyers can now make payments on PhonePe via Credit line on UPIso they can shop at millions of merchants, PhonePe said in a press release on Thursday (August 22). The function comes as Reserve […]

India’s Paytm raid spooks retailers; Walmart and Google step in

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India’s Paytm raid spooks retailers; Walmart and Google step in

By Dhanya Skariachan, Dhwani Pandya and Praveen Paramasivam BENGALURU/MUMBAI/CHENNAI, India (Reuters) – Hit by tough regulatory crackdowns, Indian e-commerce giant Paytm is mobilizing its sales team to reassure merchants who use its app to accept digital payments, even as Walmart and Google target those same merchants with rival offerings. Once cash was king in India, […]

Use cases beyond claims bring insurers to immediate payments

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Use cases beyond claims bring insurers to immediate payments

Supply and demand are the eternal balancing act in the economy and also in payment transactions. Drew Edwards, CEO of Ingo Payments, told Karen Webster that there has been a 7% year-over-year increase in the use of instant payments as a payout option in the insurance industry, according to data jointly found by Ingo and […]

Innovations in rent payments facilitate tenants’ cash flow

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Innovations in rent payments facilitate tenants’ cash flow

Earlier this year, PYMNTS Intelligence estimated that housing costs make up a significant portion of consumers’ take-home pay, particularly those living paycheck to paycheck. In fact, as Karen Webster writes in her current column, the cost of a roof over one’s head is equivalent to 37 percent of net income for consumers with annual incomes […]

According to sources, Google, Amazon and Walmart want to join the Indian central bank’s digital currency project

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According to sources, Google, Amazon and Walmart want to join the Indian central bank’s digital currency project

By Jaspreet Kalra MUMBAI (Reuters) – GooglePay, Walmart-backed PhonePe and AmazonPay are among five payments companies that plan to join India’s central bank’s pilot digital currency by offering transactions through the e-rupee, three sources directly involved in the talks said. The other two Indian fintech companies Cred and Mobikwik have applied to participate in the […]

Property management report shows: Over half of tenants are online

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Property management report shows: Over half of tenants are online

In the expansive rental market, where more than 34% of Americans make monthly payments, traditional methods like checks and electronic transfers are proving inefficient. Even as billions of renters’ money flows to landlords, outdated payment systems cause delays and frustration. Faced with increasing economic pressures and declining tenant satisfaction, property managers are increasingly faced with […]