Mastercard’s Marc Pettican on the road to a $17.4 trillion virtual card market
Virtual cards address accounts payable and receivable friction by reducing invoice chasing and late payments that occur more than 30% of the time. The virtual card market is projected to reach $17.4 trillion, with potential to reduce credit control teams that currently span 20 to 50 people at mid-sized corporations.
Read full story →Chime Converts More Paychecks Into More Products
Chime's Instant Loan originations rose nearly 70% to $300 million in the second quarter, driven by automatic prequalification for qualifying Chime Prime members. The company uses direct deposit data as underwriting infrastructure to expand its lending business beyond its core banking products.
Block’s AI Overhaul Starts Showing Up in Results
Block cut approximately 40% of its workforce and repositioned artificial intelligence as central to operations under CEO Jack Dorsey's restructuring plan. The company's AI integration is beginning to produce measurable results across its business operations.
EBay Rides Luxury, Collectibles and AI to 15% Growth in Q2
eBay achieved 15% growth in Q2 by focusing on luxury goods, collectibles, and artificial intelligence technologies. The company, historically viewed as a mature marketplace, is now competing through these specialized categories rather than relying solely on general merchandise.