Databricks Targets $165 Billion Valuation in New Funding Round
Databricks is negotiating a new private funding round that could value the company between $165 billion and $175 billion, up from its $134 billion valuation last year. The cloud‑data platform reported a $5.4 billion revenue run rate, a 65% year‑over‑year increase, with AI services contributing more than $1.4 billion. CEO Ali Ghodsi told Bloomberg that 2026 is a “terrible year” for IPOs, but the board still eyes a public listing as early as 2027. The move reflects strong demand for AI‑enabled data solutions amid rising AI adoption across the U.S. workforce.
Stripe and Lloyds Debut Payments Suite for UK Small Businesses
Stripe and Lloyds Bank have launched Lloyds Accept, a payments suite that embeds Stripe’s global infrastructure into Lloyds Business Accounts for UK small businesses. The solution lets merchants accept in‑person card, tap‑to‑pay, and online payment links, with onboarding promised in...
Coinbase Card Lets Credit Insecure Customers Use Crypto as Collateral
Coinbase is teaming with fintech Cardless to issue a new payment card that leverages users' stablecoin balances as collateral. The stablecoin‑backed card is aimed at consumers who struggle to qualify for traditional unsecured credit cards but hold digital assets on...
Klarna Targets Banks With US High-Yield Savings Account Launch
Klarna has introduced a high‑yield savings account to its U.S. app, offering FDIC‑insured deposits with interest rates above 3% APY. The accounts, provided through WebBank, have no minimum balance or monthly fees and feature round‑up, scheduled transfer, and goal‑setting tools....
Cash App Expands Payment Options With Instacart and Other Merchants
Cash App announced that more than 20 new retailers now support its Afterpay and Cash App Pay options, including Instacart, Lime, Sweetgreen and several fashion and lifestyle brands. The integrations give shoppers a choice between buy‑now‑pay‑later and instant Visa‑linked payments...
EDGE Markets Debuts Real-Time Payments for Prediction Markets
EDGE Markets announced a $29.2 million Series A round and the launch of EDGE Connect, a real‑time payments system for prediction‑market platforms. The service lets users move up to $10 million per day, with funds arriving in Kalshi accounts within two minutes. The...
Software Deals Hit COVID-Era Lows Amid AI Disruption
Software buyouts have slumped to a six‑year low, with deal value falling to $50 billion in the first five months of 2026, down from $88 billion in the same period last year. The decline reflects private‑equity uncertainty over how artificial‑intelligence adoption will...
Hyperlayer CEO Says Core Banking Solutions Debate Misses the Point
Rob Rooney, CEO of Hyperlayer, argues that banks are not ready to let AI agents act on customers' behalf, despite the sector’s strong trust advantage. He says the focus on replacing core banking systems misses the real hurdle: connecting fragmented...
Bank of America Says Checks Are Slowing Treasury Down
Bank of America’s treasury product executive Irfan Ahmad warned that paper checks are a major drag on corporate treasury operations, slowing settlement and inflating costs. He highlighted that consumers now expect instant refunds, claims payouts and disbursements, pushing firms toward...
Wire Payments Become Data Platforms as Banks Modernize
Wire payments are evolving from simple transaction conduits into data‑rich platforms as banks adopt ISO 20022 and cloud‑native architectures. The new messaging standard injects detailed compliance and participant information, but also raises operational complexity for legacy systems. Institutions that modernize...
AI Agents Force Finance to Fix the Sandbox Problem
Enterprise AI in finance is trapped in sandboxed pilots that never reach decision‑making. CFOs report models that surface insights but sit idle as quarterly pressures close dashboards. The issue stems from finance’s emphasis on control and auditability, turning AI outputs...
72% of Firms Still See Relief Ahead as Forecasting Confidence Slips
The PYMNTS Intelligence 2026 Certainty Project shows forecasting confidence slipping among payment leaders. In March, 27% of firms reported high uncertainty while 72% still expect conditions to improve within a year, down from 78% in January. Goods‑focused companies remain the...
Bank Tellers Play Detective in Face of Rising Fraud
U.S. banks are turning tellers into frontline fraud detectives as cybercrime losses surged five‑fold to $21 billion last year, according to FBI data cited by the New York Times. Chase hired behavioral scientist Elizabeth Huppert to study scammers’ tactics and coach staff on...
The Fastest Brains in Formula One Are Now Artificial
The Moroccan Grand Prix this weekend showcases the most AI‑driven Formula One event ever, with eight new AI partnerships signed in the past six months. Teams such as Williams (Anthropic’s Claude) and Red Bull (Oracle) have moved AI from logo placement...
Google Warns That Fake IT Workers Are Stealing Financial Data
Google’s cybersecurity teams warned that data‑theft extortion groups are impersonating IT support to infiltrate professional services firms. The attackers use phishing emails, fake phone calls, screen‑sharing tools, and on‑site technicians with USB drives to steal legal agreements, personally identifiable information...
WTO Says AI Investment Keeps Global Trade Above Trend Despite War
The World Trade Organization’s June 2026 Goods Trade Barometer shows that demand for AI‑related electronic components lifted global merchandise trade above trend despite the Middle East conflict. Electronic components posted a barometer reading of 105.5, outpacing container shipping, air freight,...
Experian Deploys ChatGPT App to Capture Personal Loan Shoppers
Experian launched the Experian Loans ChatGPT app, letting consumers browse personal‑loan offers directly within OpenAI’s chatbot. The tool combines Experian’s lender network and credit analytics with conversational AI to deliver tailored loan options and a seamless handoff to Experian’s website....
Verizon, AT&T and T-Mobile Are Done Letting Storms Win
Verizon, AT&T and T‑Mobile are rolling out AI‑driven systems to keep cellular networks operational during hurricanes. Verizon deploys drones and digital‑twin models to map tower damage before crews can reach sites, cutting restoration to minutes or hours. AT&T’s Geo Modeler...
UK’s FCA Freezes Euro Exchange Securities Over Financial Crime Fears
The UK Financial Conduct Authority (FCA) has frozen Euro Exchange Securities' (EES) ability to provide regulated electronic money and payment services, citing serious financial‑crime risks. Court‑appointed interim managers will run the firm until a hearing on June 11, where EES...
CFPB Advises Lenders to Consider Applicants’ Immigration Status
On June 5, the Consumer Financial Protection Bureau issued a statement reminding lenders that, under the Truth in Lending Act and Regulation Z, they must consider a borrower’s immigration status when assessing ability to repay mortgages and certain open‑end credit. The...
Big Banks Launch Tokenized Deposit Network to Fight Off Stablecoin Threat
The United States' biggest banks – JPMorgan Chase, Bank of America, Citigroup, Wells Fargo and peers – are co‑creating a tokenized‑deposit blockchain network slated for launch in the first half of 2027. Operated by The Clearing House, the system will bridge...
Bank Regulators Push Stablecoin Rules While Warning on AI Risks
The House Financial Services Committee hearing highlighted regulators’ push to formalize stablecoin oversight through the GENIUS Act and to address AI‑driven cyber risks. Fed Vice Chair Michelle Bowman warned that AI accelerates vulnerability discovery, while OCC, NCUA and FDIC leaders...
The $25 Billion Fleet Breakdown Problem Finally Has a Fix
Commercial fleets generate over 25,000 sensor data points per truck daily, yet most remain untapped, leading to costly unplanned breakdowns that exceed $25 billion annually in the United States. AI adoption is moving beyond simple reminders to core diagnostics, with platforms...
EU Procurement Standards Show Vendor Lock-In Is Growing B2B Liability
The European Commission unveiled its Tech Sovereignty Package, turning public‑sector procurement into a tool for digital resilience and economic strategy. The new rules prioritize interoperability, open standards, cybersecurity and vendor independence over pure price and speed. By embedding these criteria...
Revolut Wants to Give US Banking Customers Stablecoin Access
Revolut’s U.S. CEO Cetin Duransoy told Reuters the fintech plans to launch a U.S. bank in 2027 that will offer FDIC‑insured products alongside stablecoins. The bank will focus on customers needing multiple currencies, such as businesses and Gen Z users, and...
Two Years Ago Vs. Today: CFOs and the ERP Shift
Two years ago CFOs could defer ERP upgrades, but today ERP sits at the core of finance operations, feeding AI and real‑time decision making. The focus has moved from generic automation to delivering instant visibility into cash flow, procurement, inventory...
Mastercard and Visa Back Stealth Stablecoin Platform
Payment giants Mastercard, Visa and Stripe are reported to be backing a stealth stablecoin platform that is set to launch soon, according to CoinDesk. Coinbase is reportedly weighing participation in the initiative. The move coincides with Mastercard’s announcement to integrate...
CFPB Meets With Bilt Following Credit Card Switchover Issues
The Consumer Financial Protection Bureau met with fintech Bilt to address consumer complaints arising from its recent switch of banking partners from Wells Fargo to a new issuer. Bilt said it proactively contacted the limited number of affected cardholders and reimbursed...
79% of Middle Market Firms Plan Embedded Finance Upgrades Within a Year
According to PYMNTS Intelligence’s survey of 515 senior U.S. leaders, 79% of middle‑market companies—those with $250 million to $1 billion in revenue—plan to upgrade their embedded finance capabilities within the next year. By contrast, 63% of firms above $1 billion intend similar upgrades,...
Affirm Launches UK BNPL Partnership With Stripe
Affirm and Stripe announced an expanded partnership that will bring the buy‑now‑pay‑later (BNPL) solution to UK‑based Stripe merchants starting July 2026. The integration lets online retailers add an “Affirm at checkout” option, turning the payment step into a decision moment...
Fiserv Co-President Dhivya Suryadevara Says AI Could Be Banks’ Shortcut to Modernization
Fiserv co‑president Dhivya Suryadevara says artificial intelligence can compress years‑long core‑modernization projects into months, letting banks upgrade individual functions without replacing entire platforms. She highlighted AI‑driven legacy code conversion, workflow rewriting and the new Agent OS that governs AI agents...
Huntington Bank Joins Push to Make Big Payments More Resilient
Huntington Bank has become a new participant in The Clearing House’s CHIPS network, signaling a broader shift among banks toward more resilient high‑value payment infrastructures. CHIPS settles over $2 trillion daily while requiring only about $70 billion in funding, delivering a 26‑to‑1...
When Payment Delays Become Customer-Service Headaches
A new PYMNTS Intelligence and Visa Direct study reveals that while payments are authorized in seconds, payouts often stall on fragmented rails, creating a surge in "where’s my payment?" inquiries. The survey of 360 executives and 2,300 consumers shows 73%...
63% of SMBs See Cards as Their Best Refund Protection
A PYMNTS Intelligence report with Mastercard surveyed 412 U.S. small‑and‑medium‑sized businesses and found strong appetite to move beyond cash and checks. While 45% of SMBs are highly interested in reducing cash use, 68% of Gen Z owners want the same despite...
Alphabet Plans to Raise $80 Billion for AI Infrastructure
Alphabet announced an $80 billion equity raise to expand its AI infrastructure and compute capacity. The plan includes a $30 billion underwritten public offering, a $40 billion at‑the‑market program, and a $10 billion private placement to Berkshire Hathaway. Proceeds will fund capital expenditures—projected at...
FIS’ Jim Johnson: Banks That Don’t Own the Payment Flow Risk Losing the Customer
FIS co‑president Jim Johnson warned that banks treating issuer processing as a back‑office cost center risk being sidelined by modern commerce architecture. Digital wallets, real‑time rails like FedNow, AI‑driven checkout flows and programmable money are moving payment decisions upstream, demanding...
Payroll Moves From Back-Office Function to Embedded Finance Layer
Payroll is shifting from a back‑office task to an embedded finance layer for SMBs. Executives like Kirubha Perumalsamy note that small‑to‑mid‑size firms now expect payroll, banking and payments to live within a single platform, eliminating manual data transfers. Integrated payroll...
77% of CFOs Cite Crypto Compliance Uncertainty
The PYMNTS Intelligence 2026 Certainty Project surveyed 60 U.S. middle‑market CFOs, revealing that 77 percent cite regulatory and compliance uncertainty as the chief barrier to adopting cryptocurrencies, with 67 percent expressing the same concern for stablecoins. Only 13 percent of firms currently use...
Fed Gov. Waller Champions Stablecoins and Dismisses CBDCs
Federal Reserve Governor Christopher Waller argued that stablecoins can extend U.S. monetary policy abroad, likening their adoption to a fixed‑exchange‑rate system. He praised stablecoins for bolstering the dollar’s reserve‑currency role and called for clear regulatory guidelines. Conversely, Waller dismissed central...
The CEO Job Is Easy. Just Ask a CEO.
Sundar Pichai told The Verge that the CEO role is fundamentally simple: make a few high‑quality, high‑velocity decisions, with AI as a decision‑support tool. He echoed Jeff Bezos’ long‑standing view that leaders should focus on reversible versus one‑way choices. The...
As Cross-Border Payments Become Infrastructure, What Happens Next?
Cross‑border payments are evolving from a costly, fragmented service into a standardized infrastructure. PYMNTS Intelligence and Mastercard report that 57% of U.S. SMBs source overseas, with 43% citing faster settlement as their top priority and 27% considering a provider switch....
AI Tackles the Paperwork Problem Blocking America’s Housing Permits
Denver approved a five‑year, $4.6 million contract with CivCheck, an AI‑enabled plan‑review platform, to automate the early screening of building‑permit applications. The tool flags missing documents and incomplete fields before plans reach human reviewers, aiming to lift first‑try approval rates from...
Airwallex Challenges Legacy Software With New Billing Solution
Airwallex has launched Airwallex Billing, a flexible invoicing, subscription and usage‑based billing suite integrated into its global payments platform. The solution supports digital invoices in over 160 payment methods, settlement in more than 20 currencies and automated reconciliation. It targets...
Stablecoin Settlement Is Here, but Seamless Off-Chain Money Movement Is Not
The stablecoin ecosystem reached a new milestone as Project Agora proved cross‑border blockchain settlement involving seven central banks, while SoFi became the first U.S. national bank to issue a public‑chain stablecoin. Circle expanded its payout infrastructure through a partnership with...
Governance Becomes the Product as B2B Payments Go Real-Time
Finix’s new integration with Visa’s Cybersource platform underscores a broader shift in B2B payments from pure transaction speed to embedded governance. As enterprises weave payment capabilities into procurement, accounts‑payable automation, and treasury workflows, real‑time policy enforcement, audit trails, and dynamic...
Lenders Have Been Reading Subprime Consumers All Wrong
A PYMNTS Intelligence report reveals that roughly 44 million subprime Americans are reshaping their payment habits away from traditional revolving credit. Only 35% hold a credit or store card, and the share that regularly revolved balances fell from 50% in mid‑2023...
AI Forces Credit Unions to Rethink, Not Replace, Old Tech
Credit unions are being urged to modernize their legacy payments infrastructure rather than replace it outright, as AI exposes inefficiencies in fragmented systems. Senior VP Cody Banks of Velera argues that incremental orchestration and strategic FinTech partnerships can unlock real‑time...
Payments Modernization Now Runs on Partnerships
Payments modernization remains hampered by legacy infrastructure built before real‑time commerce and API‑driven integrations. Maverick Payments SVP Guy DiMaggio explains that incumbents struggle to adapt underwriting, onboarding and risk processes to merchants whose models now shift in months. Newer firms...
36% of Gen Z Shoppers Use Digital Wallets as Checkout Habits Shift
The PYMNTS Intelligence report, based on a survey of 2,108 U.S. consumers, shows financial stress is reshaping checkout behavior, especially among Gen Z and parents. High‑stress shoppers spent an average of $109 on groceries and $169 on online retail, outpacing low‑stress...
Google’s Agentic Wallet: Is the Fifth Time the Charm?
At Google I/O 2026, Alphabet unveiled an "Agentic Wallet" that ties its Gemini AI, a new Universal Cart, and Chrome autofill into a single, AI‑driven checkout experience. The platform lets users add items from Search, YouTube, Gmail and more into...