The White House is pushing federal financial regulators to take a fresh look at the rules that shape how FinTechs work with banks, payment systems and the broader financial services sector.
The post White House Pushes FinTech Access to Payment Rails appeared first on PYMNTS.com.
\n", "content_text": "The White House is pushing federal financial regulators to take a fresh look at the rules that shape how FinTechs work with banks, payment systems and the broader financial services sector.\r\n\t\r\n\t\t\r\n\t\r\n\r\n\r\n\t\nPresident Trump signed an executive order Tuesday (May 19) directing federal regulators to review existing regulations, guidance, supervisory practices and application processes that may be updated to encourage financial innovation and competition, while maintaining safety and soundness, according to a White House fact sheet.\nThe order is aimed at the regulatory plumbing behind modern financial services. It calls on federal regulators to identify rules that could be changed to support the growth of FinTech firms and federally regulated financial institutions of all sizes. It also asks the Federal Reserve to evaluate the legal and policy framework governing access to Reserve Bank payment accounts and payment services by uninsured depository institutions and nonbank financial companies.\nThat piece could draw close attention from payments companies. Direct or expanded access to Federal Reserve payment services has long been a major issue for nonbank FinTechs, which often rely on banks to connect to core payment rails. The White House fact sheet says the Fed should report on its legal authority to extend such access, options for expanding access with risk controls, and any legal barriers that would need legislative or regulatory changes.\nThe order also frames third-party risk management and legacy financial rules as areas that may need modernization as more banking, payments, brokerage, securities and custodial services move through digital channels.\n\u201cOther financial regulations, guidance, and policies are relics of a time when financial services were predominately provided in brick-and-mortar-centric settings and must be updated to reflect the modern age, the digital economy, and the benefits that technology can offer to all Americans, including lowering costs of financial services,\u201d the White House said in the fact sheet.\nPYMNTS has tracked how regulation, digital assets and payment rails are converging across financial services. Recent coverage examined how a White House crypto report said\u00a0stablecoins could help keep the dollar dominant\u00a0and how the GENIUS Act\u2019s Senate passage put\u00a0stablecoin regulation closer to becoming federal law. PYMNTS has also reported on how banks are navigating the\u00a0digital asset boom and regulatory shift\u00a0as crypto, stablecoins and payment modernization move further into mainstream finance.\n \n\r\n\r\nThe post White House Pushes FinTech Access to Payment Rails appeared first on PYMNTS.com.", "date_published": "2026-05-19T21:41:23-04:00", "date_modified": "2026-05-19T21:41:23-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2026/05/executive-order-FinTechs1.jpg", "tags": [ "bank regulation", "federal reserve", "FinTech", "News", "PYMNTS News", "What's Hot", "Regulation" ] }, { "id": "https://www.pymnts.com/?p=3747543", "url": "https://www.pymnts.com/fraud-prevention/2026/verizon-report-warns-of-ai-fueled-social-engineering-surge/", "title": "Verizon Report Warns of AI-Fueled Social Engineering Surge", "content_html": "Artificial intelligence is changing the economics of cybercrime, giving scammers and fraudsters a faster way to scale attacks that companies already struggle to stop.
The post Verizon Report Warns of AI-Fueled Social Engineering Surge appeared first on PYMNTS.com.
\n", "content_text": "Artificial intelligence is changing the economics of cybercrime, giving scammers and fraudsters a faster way to scale attacks that companies already struggle to stop.\r\n\t\r\n\t\t\r\n\t\r\n\r\n\r\n\t\nThat is one of the central findings in Verizon\u2019s 2026 Data Breach Investigations Report, which analyzed more than 31,000 real-world security incidents, including more than 22,000 confirmed data breaches across 145 countries. The report found that threat actors are using generative AI across different stages of attacks, including targeting, initial access, vulnerability research, malware development and other tooling.\nThe finding does not mean every scam is suddenly new. Verizon\u2019s report argues that AI is, for now, mostly making familiar attacks faster, cheaper and more scalable. In the median case, threat actors researched or used AI assistance in 15 documented techniques, while some used it across 40 or 50 techniques. Most AI-assisted malware and tooling was tied to already known attack methods, while less than 2.5% involved less common techniques.\nThat makes the threat practical for banks, payments companies and digital commerce firms. AI can help a less sophisticated criminal write better phishing messages, automate parts of reconnaissance, test targets faster or impersonate trusted contacts more convincingly. Verizon also found that the human element was present in 62% of breaches, while social engineering represented 16% of all breaches. Phone-centric tactics, including voice and text-message attacks, are becoming more effective, with simulated mobile-centric attacks producing median click rates 40% higher than email.\nThe broader fraud picture is not limited to AI. Exploitation of vulnerabilities became the most common initial access vector for breaches, rising to 31%, while credential abuse fell to 13%. Ransomware appeared in 48% of breaches, up from 44% the prior year, although 69% of ransomware victims did not pay. Third-party involvement also rose sharply, reaching 48% of total breaches.\nThe implication is that companies do not need to throw out their security playbooks, but they do need to speed them up. Verizon put it this way: \u201cAI\u2019s primary impact is currently operational: automating and scaling techniques defenders already know how to detect, not yet unlocking these novel or rare attack surfaces.\u201d\nFor financial services firms, that means the AI fraud challenge is not only about exotic deepfakes or autonomous hackers. It is about more-convincing scams, more pressure on help desks, more attacks against mobile channels and more criminals using automation to find weak spots before defenders close them.\n\r\n\r\nThe post Verizon Report Warns of AI-Fueled Social Engineering Surge appeared first on PYMNTS.com.", "date_published": "2026-05-19T21:17:29-04:00", "date_modified": "2026-05-19T21:17:29-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2026/05/AI-fraud-Verizon-1.jpg", "tags": [ "AI", "AI Fraud", "Cybercrime", "Cybersecurity", "News", "PYMNTS News", "social engineering", "Verizon", "What's Hot", "Fraud Prevention" ] }, { "id": "https://www.pymnts.com/?p=3747357", "url": "https://www.pymnts.com/consumer-finance/2026/fed-data-finds-households-keep-big-purchases-in-play/", "title": "Fed Data Finds Households Keep Big Purchases in Play", "content_html": "Consumers still intend to spend, and new Federal Reserve findings, alongside PYMNTS Intelligence data, show how they expect to make those purchases work.
The post Fed Data Finds Households Keep Big Purchases in Play appeared first on PYMNTS.com.
\n", "content_text": "Consumers still intend to spend, and new Federal Reserve findings, alongside PYMNTS Intelligence data, show how they expect to make those purchases work.\r\n\t\r\n\t\t\r\n\t\r\n\r\n\r\n\t\nThe latest Federal Reserve Bank of New York Household Spending Survey indicates that spending intentions over the next 12 months have held at 3.4% growth. But inflation expectations from the same institution stand at 3.6%, implying households are not planning for meaningful gains in purchasing power.\nThat leaves less room for organic spending growth and more incentive to manage timing. Which is where the payment implications emerge.\nConsumers continue to expect higher spending on essentials, with food projected to rise 5.6%, transportation 5.4% and medical care 4.9%. Aggregate essential spending expectations rose to 5.1%, while nonessential spending is expected to increase just 1.8%.\n \n\nThat divergence suggests the opportunity is becoming less about encouraging new purchases and more about helping households absorb purchases they still intend to make.\nPYMNTS Intelligence data points in the same direction.\nAs noted in reporting on generational pressures, households, particularly younger cohorts, are combining spending cuts with financing and budgeting tactics. Roughly 1 in 5 bridge millennials, millennials and Gen Z consumers reported using four or more simultaneous coping strategies, including reducing spending, using credit, delaying purchases and turning to installment structures.\nImportantly, PYMNTS Intelligence found that consumers are not necessarily adding leverage because they want more discretionary buying power. They are attempting to maintain recurring household obligations while smoothing uneven cash flow.\nBeyond Discretionary Purchases\nThe Fed data also counters any assumption, or perhaps conventional wisdom, that households are retreating from larger purchases.\nSixty percent of households reported making at least one large purchase in the prior four months, above the average recorded in recent April surveys. Vacations remained the largest category at 23%, followed by home repairs at 20%, while furniture, appliances and electronics also posted gains versus prior years. Lower-income consumers showed increased participation in home repairs and appliance-related purchases.\nThose categories matter because they sit in the overlap between necessity and flexibility.\nHome repairs are difficult to postpone indefinitely. Appliance replacement often arrives unexpectedly. Medical spending increasingly behaves like a recurring expense rather than a one-time event.\nThat opens more room for installment options that behave like household management tools rather than traditional credit products.\nCapacity Is Splitting by Income\nThe PYMNTS Intelligence Consumer Expectations Index adds another layer of insight.\nIncome increasingly determine much of the flexibility they bring into spending decisions.\nHouseholds earning $150,000 or more posted an overall expectations score of 63.1, while households earning below $50,000 registered 48.0, creating a persistent 15-point divide.\nLower-income consumers remain operationally active but with limited buffer. Debt-management confidence as consumers increasingly view managing obligations as a core household capability even when savings remain constrained.\nIf spending intentions remain intact while financial cushion weakens, the commercial opportunity shifts toward products that preserve purchasing continuity: installments, flexible repayment, spend visibility and payment timing controls.\nThe Fed data suggests households still plan to buy. The PYMNTS data suggests they increasingly expect payment tools to help make those planned purchases a reality.\n\r\n\r\nThe post Fed Data Finds Households Keep Big Purchases in Play appeared first on PYMNTS.com.", "date_published": "2026-05-19T20:30:46-04:00", "date_modified": "2026-05-19T20:30:46-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2026/05/consumer-spending-big-purchases-1.jpg", "tags": [ "BNPL", "Consumer Spending", "federal reserve", "household spending", "installments", "News", "PYMNTS News", "Consumer Finance" ] }, { "id": "https://www.pymnts.com/?p=3747343", "url": "https://www.pymnts.com/news/regulation/2026/california-says-yotta-misled-customers-before-synapse-collapse/", "title": "California Says Yotta Misled Customers Before Synapse Collapse", "content_html": "California regulators have ordered FinTech Yotta Technologies to pay $1 million, adding another enforcement action to the long fallout from the collapse of banking-as-a-service middleman Synapse.
The post California Says Yotta Misled Customers Before Synapse Collapse appeared first on PYMNTS.com.
\n", "content_text": "California regulators have ordered FinTech Yotta Technologies to pay $1 million, adding another enforcement action to the long fallout from the collapse of banking-as-a-service middleman Synapse.\r\n\t\r\n\t\t\r\n\t\r\n\r\n\r\n\t\nYotta\u2019s model mixed savings with gamification. The company offered sweepstakes games and prizes to customers who opened savings accounts, a pitch designed to make saving money feel more engaging.\nThe California Department of Financial Protection and Innovation (DFPI) said Thursday (May 15) that San Francisco-based Yotta engaged in deceptive acts or practices by marketing customer accounts as safe and FDIC insured, even after moving those accounts to Synapse Brokerage, which did not protect FDIC protection. Synapse filed for bankruptcy shortly afterward, leaving many customers unable to access their funds.\nThe settlement points to a broader regulatory concern: Consumers often see the app, not the complex web of banks, brokerages and technology providers behind it. That structure can make deposit protection hard to understand, especially when a nonbank company markets accounts in language that sounds like traditional bank protection.\n\u201cYotta blatantly deceived thousands of California customers,\u201d DFPI Commissioner KC Mohseni said in the agency\u2019s announcement, adding that the company\u2019s actions \u201cultimately result[ed] in millions of dollars in lost funds.\u201d The DFPI said Yotta must stop making deceptive claims, notify California customers with positive balances as of May 17, 2024, and provide information about possible recovery through the Consumer Financial Protection Bureau\u2019s Civil Penalty Fund.\nPYMNTS has followed the Yotta and Synapse fallout as a case study in the risks of layered FinTech banking models.\nIn June 2024, PYMNTS reported that\u00a085,000 Yotta accounts were caught in the Synapse meltdown, with customers locked out amid disputes between Synapse and Evolve Bank & Trust. PYMNTS later reported on\u00a0ledger irregularities tied to Yotta end-user funds, and in September covered\u00a0Yotta\u2019s lawsuit against Evolve.\nThe broader lesson has become harder to ignore: As FinTechs, sponsor banks and middleware providers divide responsibility, regulators are demanding clearer accountability for what customers are told and where their money actually sits.\n\r\n\r\nThe post California Says Yotta Misled Customers Before Synapse Collapse appeared first on PYMNTS.com.", "date_published": "2026-05-19T19:39:53-04:00", "date_modified": "2026-05-19T19:39:53-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2024/09/Yotta-Evolve-lawsuit.jpg", "tags": [ "News", "PYMNTS News", "Synapse", "What's Hot", "Yotta", "Regulation" ] }, { "id": "https://www.pymnts.com/?p=3747259", "url": "https://www.pymnts.com/google/2026/google-rebuilds-search-around-ai-after-25-years/", "title": "Google Rebuilds Search Around AI After 25 Years", "content_html": "Every product search, price check and restaurant booking has started the same way since 1998: Type something short, get a list of links. That model is 25 years old. On Tuesday (May 19), Google announced it\u2019s done with it.
The post Google Rebuilds Search Around AI After 25 Years appeared first on PYMNTS.com.
\n", "content_text": "Every product search, price check and restaurant booking has started the same way since 1998: Type something short, get a list of links. That model is 25 years old. On Tuesday (May 19), Google announced it\u2019s done with it.\r\n\t\r\n\t\t\r\n\t\r\n\r\n\r\n\t\nAt its I/O developer conference in Mountain View, Google unveiled what it called the biggest Search upgrade in over 25 years. The redesigned interface accepts text, images, documents, video and open browser tabs and responds with synthesized answers rather than a ranked list of links. Alongside it, Google launched persistent AI agents in Search that monitor topics and push notifications without being prompted.\nFrom Keywords to Continuous Intent\nOne year after its debut, AI Mode has surpassed 1 billion monthly users, queries more than doubling every quarter, Google noted. VP of Search Liz Reid told reporters query volume hit an all-time high last quarter. Google Search and advertising revenue reached $60.4 billion in the first quarter, up 19% year over year. That ran counter to predictions AI-generated answers would hollow out Search\u2019s ad business, PYMNTS found.\nThe redesigned interface anticipates intent, expanding as users describe what they need. Users can attach documents, images, videos and Chrome tabs to the search box, The Verge reported.\nAgents That Work Without Being Asked\nThe more consequential announcement for commerce and payments is what Google calls information agents. Unlike tools that respond only when prompted, these agents operate continuously, monitoring topics and pushing notifications when something relevant surfaces.\nUse cases range from apartment hunting to tracking product drops and financial developments, Google said. TechCrunch noted that information agents are the next evolution of Google Alerts, now built on a reasoning layer that synthesizes conflicting perspectives. They launch first for Google AI Pro and Ultra subscribers this summer. That\u2019s the same rollout model governing Gemini Spark, its new personal AI agent running 24/7 on Google Cloud, integrating with Gmail, Docs and third-party services over MCP.\nCommerce Infrastructure Underneath\nThe company also introduced Universal Cart, built on Google Wallet, working across Search, the Gemini app, YouTube and Gmail. Once a product is added, it monitors for price drops, surfaces price history and alerts users when an item is back in stock.\nThe interface is new. Google\u2019s Agent Payments Protocol creates a verifiable link between user, merchant and payment processor, with tamper-proof mandates ensuring the agent acts within user-specified boundaries, the company explained. The Universal Commerce Protocol, an open standard Google debuted earlier this year with Amazon, Shopify and Walmart, gives AI assistants a common language for any merchant without bespoke integrations.\nUniversal Cart arrives in Search and the Gemini app in the U.S. this summer, YouTube and Gmail to follow, with UCP-powered checkout expanding to Canada, Australia and the U.K.\nWhat Else Was Announced at I/O\n\nGoogle launched Gemini Omni, a multimodal model that accepts image, audio, video and text input and outputs editable video grounded in real-world knowledge. Available today for paid Gemini subscribers, it\u2019s rolling out to YouTube Shorts Remix and the Create app.\nAsk YouTube lets users search the full YouTube catalogue using natural language and follow-up questions. It\u2019s available now for Premium subscribers in the U.S. and rolls out broadly this summer.\nSamsung and Google debuted the first Android XR audio glasses, designed with Warby Parker and Gentle Monster, with Gemini integration and Maps support. They arrive this fall.\nDocs Live, a voice-driven document creation tool built on Gemini Live, lets users speak documents into existence. It rolls out this summer for Google AI Pro and Ultra subscribers on Android and iOS.\n\nFor all PYMNTS AI coverage, subscribe to the daily AI\u00a0Newsletter.\n\r\n\r\nThe post Google Rebuilds Search Around AI After 25 Years appeared first on PYMNTS.com.", "date_published": "2026-05-19T19:14:33-04:00", "date_modified": "2026-05-19T19:14:33-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2026/05/Google-search-xxx1.jpg", "tags": [ "Agent Payments Protocol", "Agentic AI", "AI", "Google search", "News", "persistent AI agents", "PYMNTS News", "Universal Cart", "Google" ] }, { "id": "https://www.pymnts.com/?p=3747251", "url": "https://www.pymnts.com/news/b2b-payments/2026/the-b2b-payments-status-quo-works-that-may-be-the-problem/", "title": "The B2B Payments Status Quo Works. That May Be the Problem.", "content_html": "Broken systems don\u2019t exist for long in corporate payments. But legacy, \u201cgood enough\u201d processes do.
The post The B2B Payments Status Quo Works. That May Be the Problem. appeared first on PYMNTS.com.
\n", "content_text": "Broken systems don\u2019t exist for long in corporate payments. But legacy, \u201cgood enough\u201d processes do.\r\n\t\r\n\t\t\r\n\t\r\n\r\n\r\n\t\nTraditional payment rails like credit cards, checks, ACH transfers and wires continue to dominate corporate finance departments because they are familiar, already integrated into existing systems and operationally predictable.\nData in the report \u201cReady and Willing: B2B Payments Are Headed for Real-Time Rails. Here\u2019s How They\u2019re Getting There,\u201d a collaboration between\u00a0PYMNTS Intelligence\u00a0and\u00a0The Clearing House, finds that 94% of businesses pay suppliers on time, 86% say their accounts payable operations are efficient and 82% report strong visibility into cash flow.\nBut beneath that satisfaction lies a more revealing pattern. Companies using real-time payment rails consistently report materially better outcomes across nearly every operational metric that matters, from liquidity management and reconciliation to supplier relationships and strategic flexibility.\nThe issue is no longer whether the current system works. It is whether corporate payment systems that are merely good enough are increasingly slowing down firms that are looking for something that\u2019s a little better.\nReal-Time Payments Deliver More Than Speed\nIf invoices are being settled and suppliers are satisfied, many executives see little urgency to overhaul the plumbing behind the process. And that approach is not necessarily irrational. Businesses optimize for operational continuity as much as innovation. Payment systems are deeply embedded within enterprise resource planning (ERP) platforms, treasury workflows and reconciliation systems. Replacing or modifying those systems carries risk, expense and organizational friction.\nStill, that sentiment increasingly resembles the logic that once protected paper invoicing, on-premise software and manual procurement systems. Functional does not necessarily mean optimal.\nAcross 20 separate business capabilities measured in the report, firms consistently rated real-time payment methods superior to non-instant alternatives. Eighty-five percent cited faster access to funds for suppliers, 82% pointed to faster transaction processing and 81% highlighted the ability to send payments on demand.\nReal-time settlement allows finance teams to operate with near-live visibility into liquidity positions rather than relying on batch-based approximations tied to banking windows and settlement delays. That shift changes treasury management fundamentally. Instead of padding timelines for uncertainty, businesses can synchronize outgoing payments with actual liquidity needs and supplier obligations in near real time.\nThe most telling finding may be how dramatically perceptions shift after adoption. Businesses that had not used RTP\u00ae Network or FedNow\u00ae Service assigned both systems modest ROI scores of roughly 52 out of 100. But companies with direct experience using the rails rated them 19 to 21 points higher.\nRead the report: Ready and Willing: B2B Payments Are Headed for Real-Time Rails. Here\u2019s How They\u2019re Getting There\nIntegration Is the Real Bottleneck\nIf the benefits are so clear, why does adoption remain relatively limited? It has little to do with distrust in the rails themselves, the report found.\nInstead, the central challenge is integration. Across nearly every revenue segment surveyed, businesses identified ERP, treasury and accounting system integration as both the biggest obstacle to adoption and the most important improvement needed for future payment performance.\nThat is why ISO 20022 messaging standards matter so deeply to the evolution of real-time payments. The standard allows richer payment data and cleaner integration into ERP environments, enabling automated reconciliation and more sophisticated treasury workflows.\nThe adoption curve already reflects this reality. Larger firms with more complex treasury operations and greater integration resources are moving fastest. Among companies generating more than $25 million annually, RTP Network adoption reaches 17%, compared to just 3% among firms earning between $1 million and $5 million.\nThe momentum appears to be building. Fifty-three percent of businesses surveyed said they plan to adopt the RTP Network within two years, including nearly three in 10 planning adoption within six months.\nAs real-time payment infrastructure matures, companies that adopt early gain operational advantages that compound quietly over time: tighter liquidity management, improved supplier leverage, faster revenue recognition and reduced administrative friction. These are incremental efficiencies individually, but collectively they reshape working capital performance and organizational agility.\n\r\n\r\nThe post The B2B Payments Status Quo Works. That May Be the Problem. appeared first on PYMNTS.com.", "date_published": "2026-05-19T19:12:32-04:00", "date_modified": "2026-05-19T22:20:31-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2026/05/Old-accounts-payable-1.jpg", "tags": [ "accounts payable", "B2B", "B2B Payments", "CFO", "commercial payments", "Featured News", "News", "PYMNTS News", "real time payments" ] }, { "id": "https://www.pymnts.com/?p=3746808", "url": "https://www.pymnts.com/artificial-intelligence-2/2026/ai-targets-truckings-15-billion-breakdown-problem/", "title": "AI Targets Trucking\u2019s $15 Billion Breakdown Problem", "content_html": "When a truck breaks down on the highway, the repair bill is the smallest part of the problem. The delivery is late, the driver is stranded, the tow costs more than the fix and the customer is calling.
The post AI Targets Trucking\u2019s $15 Billion Breakdown Problem appeared first on PYMNTS.com.
\n", "content_text": "When a truck breaks down on the highway, the repair bill is the smallest part of the problem. The delivery is late, the driver is stranded, the tow costs more than the fix and the customer is calling.\r\n\t\r\n\t\t\r\n\t\r\n\r\n\r\n\t\nThe American Transportation Research Institute puts the industrywide toll at more than $25 billion annually in lost productivity. A single roadside breakdown runs between $450 and $760 in direct repair costs before towing, rental replacements and missed revenue enter the equation. Fleet operators have long treated those losses as a fixed cost of doing business.\nArtificial intelligence-driven predictive maintenance is starting to rewrite that calculus.\nTurning Sensor Data Into Early Warnings\nCommercial trucks are already generating enormous amounts of data. A typical heavy-duty vehicle produces more than 25,000 data points daily from onboard sensors tracking engine temperature, oil pressure, brake wear and fuel consumption. Historically, most of that data sat unused inside disconnected maintenance systems. Fleet managers learned about problems when trucks stopped moving, not before.\nAI changes the model. Machine learning systems ingest real-time sensor readings alongside historical repair records, then identify the combinations of signals that tend to precede specific failures, often weeks before a breakdown occurs. The output isn’t raw data but a specific recommendation: a particular vehicle, a particular component, a service window that fits the route schedule. Repairs shift from roadside emergencies to planned shop visits.\nMcKinsey estimated\u00a0that AI-driven predictive maintenance could reduce maintenance costs by 10% to 40% and cut downtime by up to 50%.\nOEMs and Operators Move In\nVolvo Trucks North America unveiled AI-powered adaptive maintenance as part of its Blue Service Contract in October 2024, replacing fixed service schedules with intervals that adjust dynamically based on how each truck is actually being used: fuel consumption, idle time and oil condition.\nMagnus Gustafson, vice president of connected services at Volvo Trucks North America, said many fleets are over-maintaining their trucks, driving unnecessary cost. \u201cApplying AI to optimize maintenance intervals based on truck specs, operating conditions and actual use ensures our customers can maximize uptime,\u201d Gustafson said.\nVolvo’s Uptime Center in Greensboro, North Carolina, monitors nearly 85,000 connected trucks across Europe, with specialists reviewing AI-generated alerts and coordinating service visits before breakdowns occur. Volvo and Mack Trucks have developed connected systems that cut the time needed to diagnose a breakdown by 70% and reduce repair time by 25%.\nThe shift is hitting fleet operators at a difficult moment. ATRI\u2019s 2025 operational costs report found that non-fuel operating expenses rose 3.6% in 2024 to the highest level ever recorded, with average operating margins below 2% across most trucking sectors. Parts and labor costs are up more than 10% year over year, Fleetio fleet ecosystem strategist Stefano Daneri told PYMNTS. Fleets holding onto vehicles longer to avoid replacement costs are absorbing a growing hidden cost in the process: more downtime.\nCapital and Adoption Follow\nFleet and mobility firms are directing working capital toward the technology. A PYMNTS Intelligence study found that 89% of fleet firms used at least one external working capital solution in 2024, with strategic deployment increasingly directed toward digital fleet management platforms and AI-based tools. Top performers realized an average of $15.6 million in bottom-line benefits.\nThe main constraint on broader adoption is data infrastructure. Many carriers still run disconnected legacy systems that prevent AI models from accessing the full maintenance history they need to make accurate predictions.\nATRI reported that the average miles traveled between breakdowns increased from 37,700 to 38,249 in 2024, crediting preventive maintenance practices as a key factor. Whether AI systems can push that number further will depend on how fast fleets close the data gap.\nFor all PYMNTS AI coverage, subscribe to the daily AI\u00a0Newsletter.\n\r\n\r\nThe post AI Targets Trucking\u2019s $15 Billion Breakdown Problem appeared first on PYMNTS.com.", "date_published": "2026-05-19T16:33:29-04:00", "date_modified": "2026-05-19T16:33:29-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2026/05/AI-trucking-1.jpg", "tags": [ "AI", "B2B", "B2B Payments", "delivery", "News", "PYMNTS News", "transportation", "Trucking", "artificial intelligence" ] }, { "id": "https://www.pymnts.com/?p=3746553", "url": "https://www.pymnts.com/news/investment-tracker/2026/commure-secures-70-million-to-expand-ai-healthcare-operations-platform/", "title": "Commure Secures $70 Million to Expand AI Healthcare Operations Platform", "content_html": "Healthcare artificial intelligence (AI) company Commure announced Tuesday (May 19) that it has raised $70 million in new financing, achieving a post-money valuation of $7 billion. The Mountain View, California-based company said in a press release that the funding round was led by General Catalyst, with additional participation from Sequoia Capital, Morgan Stanley and Kirkland & Ellis. The capital injection aims to accelerate the deployment of Commure\u2019s AI-powered administrative and clinical tools across global health systems.
The post Commure Secures $70 Million to Expand AI Healthcare Operations Platform appeared first on PYMNTS.com.
\n", "content_text": "Healthcare artificial intelligence (AI) company Commure announced Tuesday (May 19) that it has raised $70 million in new financing, achieving a post-money valuation of $7 billion. The Mountain View, California-based company said in a press release that the funding round was led by General Catalyst, with additional participation from Sequoia Capital, Morgan Stanley and Kirkland & Ellis. The capital injection aims to accelerate the deployment of Commure\u2019s AI-powered administrative and clinical tools across global health systems.\r\n\t\r\n\t\t\r\n\t\r\n\r\n\r\n\t\nCommure specializes in automating the administrative tasks it says cost healthcare providers approximately $1 trillion annually in the United States alone. The company\u2019s revenue cycle management platform currently operates within more than 500 healthcare organizations and across over 3,000 care sites, including major networks like HCA Healthcare and Tenet Healthcare, according to the release.\nThe firm says its systems process tens of billions of dollars in annual payments, completing more than 85% of that work without human intervention. Commure will use the new funding to scale its revenue cycle and practice management platforms and expand its AI infrastructure into international healthcare markets.\n\u201cFor thirty years, healthcare was told software would fix administrative work. It didn\u2019t, because software could not actually do the work: the calls, the notes, the codes, the claims, the denials and the appeals,\u201d Commure CEO Tanay Tandon said in the release. \u201cAI can. We are already performing this work, from specialty clinics to the country\u2019s largest health systems. With this round, we can meet the demand to run it everywhere.\u201d\nCommure\u2019s expansion arrives during an escalating technological arms race within the healthcare payments ecosystem. A March PYMNTS report highlighted that AI is increasingly being deployed by both healthcare providers and insurance companies in a nationwide dispute over medical billing and reimbursements. Insurers argue that hospitals are using AI revenue software to aggressively code procedures and maximize payouts. For example, Medicaid-focused insurer Centene has raised concerns over sudden spikes in severe diagnoses, while a Blue Cross Blue Shield analysis linked billions of dollars in hospital spending to aggressive, AI-enabled coding practices.\nHospitals maintain that advanced AI tools are necessary to counter the insurance industry\u2019s own aggressive tactics. Executives at HCA Healthcare, which utilizes Commure\u2019s platform, have said AI is essential to combat growing denial and underpayment activities from payers.\n\r\n\r\nThe post Commure Secures $70 Million to Expand AI Healthcare Operations Platform appeared first on PYMNTS.com.", "date_published": "2026-05-19T16:22:10-04:00", "date_modified": "2026-05-19T16:22:10-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2026/03/AI-artificial-intelligence-heatlhcare-diagnostics.jpeg", "tags": [ "AI", "artificial intelligence", "Commure", "funding", "Healthcare", "Investments", "News", "PYMNTS News", "What's Hot", "Investments" ] }, { "id": "https://www.pymnts.com/?p=3746749", "url": "https://www.pymnts.com/walmart/2026/walmart-gains-ground-as-tariffs-pressure-retail-rivals/", "title": "Walmart Gains Ground as Tariffs Pressure Retail Rivals", "content_html": "Walmart is widening its lead over competitors as tariffs, inflation pressures and tighter household budgets reshape U.S. retail.
The post Walmart Gains Ground as Tariffs Pressure Retail Rivals appeared first on PYMNTS.com.
\n", "content_text": "Walmart is widening its lead over competitors as tariffs, inflation pressures and tighter household budgets reshape U.S. retail.\r\n\t\r\n\t\t\r\n\t\r\n\r\n\r\n\t\nThe company has strengthened its position by leaning on its size, expanding digital operations and building higher-margin businesses that help offset cost pressures, according to a Reuters report Tuesday (May 19). The result is stronger growth than many peers at a time when retailers are navigating a tougher consumer environment.\nWalmart\u2019s investments in eCommerce capabilities, loyalty offerings and operational scale have reportedly helped it maintain pricing advantages even as tariffs drove up costs across retail. The company posted 4.7% sales growth in the fiscal year ended Jan. 31, outperforming several major rivals. Target reported declining sales, Kroger remained roughly flat and Albertsons posted slower growth. Reuters reported that Walmart\u2019s stock has climbed about 50% since tariff policies introduced in April 2025 intensified pressure on retail margins.\nAnalysts told Reuters Walmart\u2019s large footprint has become a competitive asset. The retailer\u2019s buying power allows it to negotiate supplier terms more effectively and preserve low prices on everyday goods. Reuters also reported that Walmart held operating margins nearly steady last year at 4.2%, despite tariff-related disruptions.\nAnother driver is the company\u2019s changing business mix. Walmart\u2019s advertising operations and membership programs reportedly now contribute a much larger share of operating profit than they did several years ago. Those higher-margin businesses help support lower-margin retail categories while giving Walmart additional flexibility during periods of economic pressure.\nDigital investments made years earlier are also paying off. Walmart\u2019s online sales climbed 24% during the last fiscal year to more than $150 billion, accounting for more than one-fifth of total revenue. The company\u2019s store network has become a fulfillment advantage, particularly in grocery delivery.\nAdditionally, PYMNTS Intelligence research found Walmart continues to dominate essential spending while Amazon captures more discretionary purchases. Walmart has also expanded local product assortments to appeal to cost-conscious shoppers and is remodeling hundreds of stores to strengthen digital fulfillment and omnichannel shopping. Research further shows financially stressed consumers increasingly turn to Walmart for grocery and retail purchases, underscoring the company\u2019s position as households continue recalibrating spending priorities.\n\r\n\r\nThe post Walmart Gains Ground as Tariffs Pressure Retail Rivals appeared first on PYMNTS.com.", "date_published": "2026-05-19T16:09:54-04:00", "date_modified": "2026-05-19T16:09:54-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2025/02/Tariffs-Walmart-prices.png", "tags": [ "News", "PYMNTS News", "Retail", "tariffs", "Walmart", "What's Hot" ] }, { "id": "https://www.pymnts.com/?p=3746615", "url": "https://www.pymnts.com/artificial-intelligence-2/2026/andrej-karpathy-lands-at-anthropic-amid-ai-research-arms-race/", "title": "Andrej Karpathy Lands at Anthropic Amid AI Research Arms Race", "content_html": "Andrej Karpathy joined Anthropic, marking one of the highest-profile talent moves yet in the escalating competition among frontier artificial intelligence labs for elite research talent. Karpathy, a founding member of OpenAI and head of AI at Tesla, said he would join Anthropic\u2019s pretraining team focused on advancing large language model research, according to Bloomberg.
The post Andrej Karpathy Lands at Anthropic Amid AI Research Arms Race appeared first on PYMNTS.com.
\n", "content_text": "Andrej Karpathy joined Anthropic, marking one of the highest-profile talent moves yet in the escalating competition among frontier artificial intelligence labs for elite research talent. Karpathy, a founding member of OpenAI and head of AI at Tesla, said he would join Anthropic\u2019s pretraining team focused on advancing large language model research, according to Bloomberg.\r\n\t\r\n\t\t\r\n\t\r\n\r\n\r\n\t\nThe move underscores how competition in AI centers not only on chips and infrastructure, but also on attracting a relatively small pool of researchers capable of pushing model performance forward. Anthropic, best known for its Claude family of models, has emerged as one of OpenAI\u2019s strongest rivals in enterprise AI and coding applications.\nKarpathy announced the move on X, saying he was excited to return to research and development work during what he described as a formative period for large language models. According to Reuters, he will work under Anthropic\u2019s pretraining lead Nick Joseph, another former OpenAI employee.\nKarpathy carries unusual influence across both research and developer communities. Beyond his work at OpenAI and Tesla\u2019s Autopilot division, he became widely followed for educational content explaining neural networks and transformers to engineers and nontechnical audiences. He also founded Eureka Labs in 2024, an AI-focused education company that remains active alongside his new role at Anthropic.\nThe hire comes as Anthropic continues to expand aggressively across enterprise AI. The company has positioned Claude as a model family optimized for coding, enterprise workflows and AI safety, areas viewed as critical battlegrounds for commercial adoption. Anthropic was founded in 2021 by former OpenAI researchers including Dario Amodei and Daniela Amodei.\nKarpathy\u2019s move also adds to the growing list of high-profile departures from OpenAI over the past two years. Former OpenAI leaders including John Schulman, Ilya Sutskever and Mira Murati have all left the company amid broader debates over AI commercialization, governance and research priorities.\nThe recruitment also reflects how AI companies compete through researcher ecosystems and developer mindshare. Karpathy\u2019s technical credibility, combined with his popularity among engineers building with generative AI tools, gives Anthropic both research depth and cultural influence at a time when coding assistants and agentic AI systems are becoming major commercial markets.\nFor all PYMNTS AI coverage, subscribe to the daily AI\u00a0Newsletter.\n\r\n\r\nThe post Andrej Karpathy Lands at Anthropic Amid AI Research Arms Race appeared first on PYMNTS.com.", "date_published": "2026-05-19T15:52:47-04:00", "date_modified": "2026-05-19T15:52:47-04:00", "authors": [ { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" } ], "author": { "name": "PYMNTS", "url": "https://www.pymnts.com/author/pymnts/", "avatar": "https://secure.gravatar.com/avatar/679fcf5c2ed5358e99e8e23b22e3b5d761e37bdb76fa7b0e13d8ecd9ff01bf88?s=512&d=blank&r=g" }, "image": "https://www.pymnts.com/wp-content/uploads/2026/05/Anthropic-Claude-Andrej-Karpathy-1.jpg", "tags": [ "AI", "Andrej Karpathy", "Anthropic", "News", "OpenAI", "PYMNTS News", "What's Hot", "artificial intelligence" ] } ] }