Mother\u2019s Day is the annual moment when otherwise rational adults look into the maw of modern commerce and ask a spiritually revealing question: Is brunch enough? Usually, yes.
The post Mother\u2019s Day, but Make It Platinum appeared first on PYMNTS.com.
\n", "content_text": "Mother\u2019s Day is the annual moment when otherwise rational adults look into the maw of modern commerce and ask a spiritually revealing question: Is brunch enough? Usually, yes.\r\n\t\r\n\t\t\r\n\t\r\n\r\n\r\n\t\nBut at the far edge of the digital economy, Mother\u2019s Day has quietly become a glorious, over-caffeinated payments event: part emotion, part logistics, part luxury checkout flow. The flowers and the card still matter, but so do the reservation link, the deposit request, the gift-card balance, the card-on-file confirmation and the little thrill of pretending a $61,500 trunk is really about \u201cmemory-making.\u201d\nThe latest available numbers from the National Retail Federation (NRF) show why the holiday has become such a rich commerce story. In 2025, Mother\u2019s Day spending was expected to reach $34.1 billion, with 84% of U.S. adults planning to celebrate. Online was the top shopping destination at 36%, while jewelry was the largest dollar category at $6.8 billion, special outings reached $6.3 billion and gift cards hit $3.5 billion. Nearly half of shoppers said they wanted something unique or different, and another big chunk said they were looking for gifts that create a special memory.\nAt the ultra-high end, the \u201cthings\u201d side of the ledger is less about buying Mom one more nice object and more about buying her a better anecdote. A five-object fantasy board starts with\u00a0Cartier\u2019s Panth\u00e8re de Cartier watch, because it is the rare gift that reads simultaneously as watch, jewelry and inheritance strategy; Cartier lists a small yellow-gold model at $27,000.\nThen there\u2019s the\u00a0De Beers Talisman Locket, priced at $37,100 and notable because it is a limited series of 20 pieces with engraving potential. It\u2019s less of a present, and more \u201cfuture family lore.\u201d For maximalist delight,\u00a0Louis Vuitton\u2019s LV x TM Music Trunk\u00a0is the showstopper: a Murakami-splashed trunk with a compartment for a turntable and storage for vinyl, which is what happens when nostalgia gets a budget comparable to that of an Audi.\nA smarter, slyer flex is\u00a0Lalique\u2019s Tourbillons vase, a $5,000 crystal classic first designed in 1926: especially notable because it turns the most traditional Mother\u2019s Day gift, flowers, into a permanent upgrade. And for the mom whose taste runs more modernist than maison,\u00a0Bang & Olufsen\u2019s Beosound 2\u00a0starts at $4,000 and makes a persuasive case for premium audio as a sculptural home object.\nThe experience side is where Mother\u2019s Day goes fully cinematic.\u00a0Four Seasons\u2019 World of Wellness 2026 private-jet itinerary\u00a0is the obvious headline act: 20 days and eight destinations at a total sticker price of $188,000 per adult.\nIf Mom prefers sea air to airport lounges, Aman\u2019s\u00a0Amandira private yacht\u00a0and its\u00a0Komodo expeditions\u00a0are almost comically well-appointed: a 52-meter yacht, five cabins, a crew of 14, private chefs, a dive master, a spa therapist and itineraries built around dragons, reefs and bragging rights.\nThen there is Belmond\u2019s\u00a0Royal Scotsman Dior wellness journey, because once you accept the existence of a Dior spa carriage rolling through the Scottish Highlands, resistance feels provincial. Belmond says the spa carriage has two treatment rooms styled in Dior\u2019s burgundy toile de Jouy, and the concept has already expanded into multi-day retreat programming.\nGolden Door\u2019s Golden Flight\u00a0is another splendidly over-engineered choice: door-to-door transfers, private plane access, curated wellness kit and a seven-night all-inclusive stay that begins before takeoff.\nFinally,\u00a0The Ritz-Carlton Yacht Collection\u2019s Mediterranean voyages\u00a0are currently listing seven-night sailings such as Monte Carlo to Rome from $11,100, which is useful for anyone hoping to frame \u201cultra-luxe yacht trip\u201d as a heartfelt family gesture.\nAnd that, really, is the payments angle. Mother\u2019s Day at the top end is orchestration in its finest form: eCommerce checkout, concierge confirmations, trip deposits, premium-card points, dining reservations and experience spending all braided into one sentimental shopping occasion.\nThe latest NRF data makes clear that consumers already want uniqueness and memory-making; luxury brands are simply monetizing that desire at a level normally reserved for real estate and small watercraft.\nSo yes: payments plays in Mother\u2019s Day the same way bass plays in a song \u2014 often behind the melody, but doing more work than it gets credit for. The flowers aren\u2019t gone, they\u2019ve just been joined by yachts, wellness jets, designer spa cars and a turntable trunk that could anchor its own inheritance dispute.\nWhich feels, in its own extravagant way, exactly right for a holiday built around trying to repay someone for everything, with one very nice click.\n\r\n\r\nThe post Mother\u2019s Day, but Make It Platinum appeared first on PYMNTS.com.", "date_published": "2026-05-02T04:00:37-04:00", "date_modified": "2026-04-03T11:04:19-04:00", "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/2026/04/Mothers-Day-Weekender.png", "tags": [ "Consumer Spending", "holidays", "Luxury", "Main Feature", "Mother's Day", "News", "PYMNTS News", "PYMNTS Weekender", "Retail", "Saturday Feature", "The Weekender" ] }, { "id": "https://www.pymnts.com/?p=3700094", "url": "https://www.pymnts.com/artificial-intelligence-2/2026/openai-cfo-says-company-hits-core-targets-despite-stretch-goals/", "title": "OpenAI CFO Says Company Hits Core Targets Despite Stretch Goals", "content_html": "OpenAI\u00a0Chief Financial Officer\u00a0Sarah Friar\u00a0said Thursday (April 30) that the company is meeting its objectives.
The post OpenAI CFO Says Company Hits Core Targets Despite Stretch Goals appeared first on PYMNTS.com.
\n", "content_text": "OpenAI\u00a0Chief Financial Officer\u00a0Sarah Friar\u00a0said Thursday (April 30) that the company is meeting its objectives.\r\n\t\r\n\t\t\r\n\t\r\n\r\n\r\n\t\nInterviewed by Bloomberg for a\u00a0report\u00a0published Thursday, Friar said that if anything is slowing OpenAI down at all,\u00a0it\u2019s\u00a0not a lack of demand, but a lack of\u00a0compute.\nFriar\u2019s remarks came three days after the Wall Street Journal reported Monday (April 27) that OpenAI had fallen short of its\u00a0internal goals\u00a0for new users and revenue and that some of the company\u2019s executives, including Friar, were concerned about whether the firm would be able to fund its data center plans if its revenue didn\u2019t grow quickly enough.\nBloomberg reported Tuesday (April 28) that OpenAI described the WSJ report as \u201cprime clickbait\u201d and that the company said its consumer and enterprise\u00a0businesses are \u201cfiring on all cylinders\u201d and \u201cthe mood internally is incredibly positive.\u201d\nFriar told Bloomberg Thursday that OpenAI may have internal \u201cstretch goals\u201d that are more ambitious than its publicly shared goals, but that demand for the company\u2019s products continues to grow.\n\u201cEvery company I\u2019ve ever been inside of in my entire CFO life, and as an analyst, always has stretch goals \u2014 always,\u201d Friar said, per the report.\nThe Information reported that OpenAI is projecting a giant shift in subscription revenue but still sees revenues more than doubling\u00a0to\u00a0$30 billion\u00a0this year and reaching\u00a0$284 billion\u00a0in 2030.\nThe report said that while OpenAI has pulled in the bulk of its revenue from consumers\u2019 $20-per-month ChatGPT subscriptions over the last three years, the company now expects that a cheaper, ad-supported subscription tier will attract\u00a0new users\u00a0but also lead existing subscribers to downgrade. The company hopes to generate more revenue by selling ads to more users than depending on its existing flagship monthly subscription service, ChatGPT Plus.\nIt was reported April 9 that OpenAI expects its nascent\u00a0advertising\u00a0business to generate\u00a0$2.5 billion\u00a0in revenue this year and surge to\u00a0$100 billion\u00a0by the end of the decade. The report said the company\u2019s projections underscore its push to monetize its user base to help fund the soaring costs of developing its AI technology.\n\r\n\r\nThe post OpenAI CFO Says Company Hits Core Targets Despite Stretch Goals appeared first on PYMNTS.com.", "date_published": "2026-05-01T20:00:02-04:00", "date_modified": "2026-05-01T20:00:02-04:00", "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/2025/05/OpenAI-1.jpg", "tags": [ "AI investments", "AI startups", "News", "OpenAI", "PYMNTS News", "What's Hot", "artificial intelligence" ] }, { "id": "https://www.pymnts.com/?p=3700077", "url": "https://www.pymnts.com/partnerships/2026/uber-taps-hertz-subsidiary-to-scale-robotaxi-program/", "title": "Uber Taps Hertz Subsidiary to Scale Robotaxi Program", "content_html": "Hertz\u00a0plans to expand beyond its car rental business and serve \u201cthe next era of mobility\u201d with a new affiliated operating company that will provide fleet management solutions for autonomous robotaxi and driver-led rideshare fleets.
The post Uber Taps Hertz Subsidiary to Scale Robotaxi Program appeared first on PYMNTS.com.
\n", "content_text": "Hertz\u00a0plans to expand beyond its car rental business and serve \u201cthe next era of mobility\u201d with a new affiliated operating company that will provide fleet management solutions for autonomous robotaxi and driver-led rideshare fleets.\r\n\t\r\n\t\t\r\n\t\r\n\r\n\r\n\t\nThe new company,\u00a0Oro Mobility, said\u00a0in\u00a0a Thursday\u00a0(April 30)\u00a0press release\u00a0that its first major partner is\u00a0Uber.\nOro and Uber have formed strategic fleet partnerships in which Oro will provide operational and maintenance services for Uber\u2019s autonomous and driver-led operations in key U.S. markets, according to the release.\nFor Uber\u2019s autonomous robotaxi program, Oro will provide charging, maintenance, repairs, cleaning, depot staffing and other day-to-day vehicle asset management services. The companies plan to launch this collaboration in the San Francisco Bay Area by the end of the year and then consider expanding it in 2027.\nFor Uber\u2019s driver-led operations, Oro will provide a fleet of vehicles maintained by the company and operated by Oro-employed drivers. The companies successfully piloted this partnership in Atlanta last year, later expanded it to Los Angeles and San Francisco, and now plan to extend it to Northern New Jersey this spring.\n\u201cThis partnership with Uber establishes Oro as an integrated solution that connects demand with scalable fleet management services,\u201d Hertz CEO\u00a0Gil West\u00a0said in the release. \u201cThrough this work, we\u2019re deepening our capabilities across diverse mobility use cases, and positioning Hertz to play a significant role as the industry evolves.\u201d\nUber President and Chief Operating Officer\u00a0Andrew Macdonald\u00a0said in the release that the partnership with Oro will help Uber transition to a network that includes both driver-led and autonomous rideshare operations.\n\u201cBy combining Uber\u2019s global platform and marketplace leadership with Oro\u2019s dedicated fleet management expertise, we are well-equipped to meet increasing rideshare demand and deliver a seamless, high-quality rider experience across the entire mobility ecosystem,\u201d Macdonald said.\nUber and carmaker\u00a0Rivian\u00a0announced in March that they have teamed up to deploy 10,000 fully autonomous Rivian R2\u00a0robotaxis, starting in Miami and San Francisco in 2028 and then expanding to 25 cities by 2031. The companies aim to have thousands of robotaxis deployed across 25 cities in the U.S., Canada and Europe by the end of 2021.\n\r\n\r\nThe post Uber Taps Hertz Subsidiary to Scale Robotaxi Program appeared first on PYMNTS.com.", "date_published": "2026-05-01T19:34:19-04:00", "date_modified": "2026-05-01T19:34:19-04:00", "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/2022/05/Hertz.jpg", "tags": [ "Hertz", "News", "Oro", "PYMNTS News", "transportation", "Uber", "What's Hot", "Partnerships" ] }, { "id": "https://www.pymnts.com/?p=3700046", "url": "https://www.pymnts.com/artificial-intelligence-2/2026/ai-takes-the-wheel-at-europes-biggest-carmakers/", "title": "AI Takes the Wheel at Europe\u2019s Biggest Carmakers", "content_html": "Artificial intelligence (AI) is running on the production line, inside the vehicle and within the investment thesis. Europe\u2019s premium automakers are moving on all fronts at once.
The post AI Takes the Wheel at Europe\u2019s Biggest Carmakers appeared first on PYMNTS.com.
\n", "content_text": "Artificial intelligence (AI) is running on the production line, inside the vehicle and within the investment thesis. Europe\u2019s premium automakers are moving on all fronts at once.\r\n\t\r\n\t\t\r\n\t\r\n\r\n\r\n\t\nThe pressure behind that movement is specific. Order-to-delivery flows across disconnected systems, multiple suppliers and dozens of handoffs. By the times teams learn about a delay, it has already hit the schedule. Inventory builds in the wrong place, small disruptions cascade and manual tracking fails at scale. AI fixes that by monitoring workflows in real time and triggering interventions before delays reach the customer.\nAI Enters the Factory\nAudi, BMW and Mercedes-Benz are running AI across production operations. Automotive News reported that all three brands use AI-powered image processing to detect welding defects in real time. Issues get flagged before they move down the line. Defect rates fall without slowing throughput.\nBMW has gone further. Nvidia reported that BMW is deploying autonomous mobile robots inside its factories to handle material transport without human guidance. Parts move to the line as needed. The logistics layer coordinates itself.\nBCG documented BMW Group\u2019s generative AI program scaling across engineering, manufacturing and supply chain operations. The program compressed development timelines and reduced manual decision-making across the organization. The outcome was not incremental. It changed how the company moves information and acts on it.\nCapital Follows the Conviction\nBMW i Ventures launched its third fund at $300 million on Wednesday (April 29), bringing total capital under management to $1.1 billion. Fund III targets physical AI, agentic AI, industrial software, manufacturing technologies, supply chain technologies and advanced materials, investing from seed through Series B across North America and Europe.\nManaging partner Marcus Behrendt said the firm focuses on what will actually determine the future, not what is trending. The AI Insider noted that BMW Group is already deploying humanoid robots at its Leipzig plant in Germany as part of a European pilot expanding physical AI in vehicle production, building on a 2025 program at its Spartanburg, South Carolina plant.\nThe fund backs startups early enough to shape how the technology develops. The thesis is direct: AI will define the next generation of automotive suppliers, and BMW wants equity in the companies building that layer now.\nIntelligence Moves Into the Vehicle\nThe investment logic extends from the factory to the car itself. Mercedes-Benz announced a multi-year partnership with Liquid AI to deploy embedded, on-device intelligence across its vehicles in North America.\nLiquid AI stated that the embedded Liquid Foundation Models deliver fast, private AI without cloud dependence, evolving the MBUX Virtual Assistant by integrating voice control, vehicle functionality and contextual understanding into a more capable in-vehicle experience. According to the release, initial production deployment is scheduled for the second half of 2026.\nThe architecture matters beyond the in-car experience. On-device AI processes data locally without sending it to a server. That same design principle applies upstream. AI running inside production systems does not wait for a nightly report. It reads the order queue, tracks supplier lead times, monitors assembly progress and flags the gap before it becomes a delay.\nAI is not a feature added to an existing process. It is the coordination layer replacing manual oversight across the full order-to-delivery chain. For European automakers competing with software-native rivals from the United States and China, the window to build that infrastructure is not open indefinitely. BMW, Mercedes-Benz and Audi are treating that deadline as vital.\nFor all PYMNTS AI coverage, subscribe to the daily AI Newsletter.\n\r\n\r\nThe post AI Takes the Wheel at Europe\u2019s Biggest Carmakers appeared first on PYMNTS.com.", "date_published": "2026-05-01T19:05:41-04:00", "date_modified": "2026-05-01T19:05:41-04:00", "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" }, "tags": [ "AI", "Audi", "automotive", "BMW", "digital transformation", "manufacturing", "Mercedes Benz", "News", "PYMNTS News", "artificial intelligence" ] }, { "id": "https://www.pymnts.com/?p=3699789", "url": "https://www.pymnts.com/bank-regulation/2026/fed-prepares-new-playbook-to-support-bank-ai-adoption/", "title": "Fed Prepares New Playbook to Support Bank AI Adoption", "content_html": "Anthropic\u2019s Mythos highlights the speed at which artificial intelligence (AI) capabilities can advance and the need for supervisory approaches to keep pace with emerging technology, Federal Reserve Vice Chair for Supervision Michelle W. Bowman said Friday (May 1).
The post Fed Prepares New Playbook to Support Bank AI Adoption appeared first on PYMNTS.com.
\n", "content_text": "Anthropic\u2019s Mythos highlights the speed at which artificial intelligence (AI) capabilities can advance and the need for supervisory approaches to keep pace with emerging technology, Federal Reserve Vice Chair for Supervision Michelle W. Bowman said Friday (May 1).\r\n\t\r\n\t\t\r\n\t\r\n\r\n\r\n\t\nIn a speech delivered at an event hosted by the Financial Stability Oversight Council in Washington, D.C., Bowman said regulators must ensure safety and soundness without hindering innovation.\nThe Mythos AI model\u2019s ability to detect cyber vulnerabilities can be used for enhancing cybersecurity or for malicious purposes, Bowman said.\n\u201cAs we learn more about this tool and others to be released in the coming weeks and months, we will continue to consider effective supervisory approaches for these and other emerging capabilities,\u201d Bowman said.\nBowman said that regulators\u2019 supervision of emerging technologies requires keeping up with new developments, coordinating efforts across government, communicating developments and risks to supervised institutions, getting feedback from industry, and regularly refining supervisory approach and response.\n\u201cAs we work to support innovation, it is necessary to determine whether our framework is appropriate,\u201d Bowman said. \u201cHave we established reasonable and effective supervisory expectations? Are bankers comfortable discussing emerging risks and new technologies with supervisory teams? Have we successfully implemented a pro-innovation mindset that allows responsible innovation and AI adoption to occur within the banking system?\u201d\nBowman said that the Financial Stability Board\u2019s Standing Committee on Supervisory and Regulatory Cooperation, of which she is the chair, is working with the Treasury Department and the Securities and Exchange Commission (SEC) on a report that will cover sound practices for AI adoption, use and innovation. A draft is set to be released in the third quarter.\n\u201cThe implications of AI extend far beyond the banking and financial systems,\u201d Bowman said.\nIt was reported April 7 that Anthropic was allowing select partners to gain early access to Claude Mythos Preview, a model positioned for defensive cybersecurity work, so that they could identify vulnerabilities and strengthen systems before threats can be exploited.\nAnthropic said at the time it was also discussing the model and its \u201coffensive and defensive cyber capabilities\u201d with government officials.\nOn April 10, a Treasury spokesperson told PYMNTS that Treasury Secretary Scott Bessent had convened a meeting with bank CEOs to address development in AI.\n\r\n\r\nThe post Fed Prepares New Playbook to Support Bank AI Adoption appeared first on PYMNTS.com.", "date_published": "2026-05-01T16:26:46-04:00", "date_modified": "2026-05-01T16:26:46-04:00", "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/2024/06/federal-reserrve.jpg", "tags": [ "AI", "Anthropic", "banking", "Banks", "federal reserve", "News", "PYMNTS News", "What's Hot", "Bank Regulation" ] }, { "id": "https://www.pymnts.com/?p=3699702", "url": "https://www.pymnts.com/artificial-intelligence-2/2026/big-insurance-backs-away-from-ai-risk-and-startups-rush-in/", "title": "Big Insurance Backs Away From AI Risk and Startups Rush In", "content_html": "A company deploys an artificial intelligence (AI) agent. The agent makes a mistake. The insurance policy does not cover it.
The post Big Insurance Backs Away From AI Risk and Startups Rush In appeared first on PYMNTS.com.
\n", "content_text": "A company deploys an artificial intelligence (AI) agent. The agent makes a mistake. The insurance policy does not cover it.\r\n\t\r\n\t\t\r\n\t\r\n\r\n\r\n\t\nThat outcome is no longer hypothetical. Major insurers are carving AI out of standard corporate coverage. State regulators are approving the requests and a new market is already forming to fill the gap.\nCarriers Signal They Cannot Price the Risk\nBerkshire Hathaway, Chubb and Travelers sought state regulatory approval to exclude AI-related damages from general liability policies. State regulators approved more than 80% of those requests, The Information reported. Florida, Connecticut and Maryland approved the highest number of requests. The exclusions began taking effect as early as January.\nThe moves follow two new optional endorsements introduced by the Insurance Services Office, a private body that sets industry standards. Policyholder Pulse reported that some carriers, including Berkley, have introduced absolute AI exclusions across directors and officers, errors and omissions and fiduciary liability policies. The endorsements cover bodily injury, property damage and personal and advertising injury tied to generative AI outputs, including defamatory content, intellectual property infringement and physical damages traceable to AI-driven errors.\nPHL Firm noted that ISO forms underpin roughly 82% of U.S. property and casualty policies. Adoption is expected to be rapid. Many carriers will attach these endorsements at renewal.\nWhat Falls Outside Coverage Now\nPlaintiffs have advanced a wide range of legal theories in AI-related filings. Policyholder Pulse catalogued the categories: copyright and intellectual property claims arising from large language model training, privacy and data-use claims, antitrust claims, discrimination and algorithmic bias claims and AI-related securities class actions. Each now sits in a grayer zone for businesses whose carriers have secured AI exclusions.\nInsurers are also moving to cap AI losses in cybersecurity policies, the Financial Times reported. That narrows options across multiple policy types at once. Policyholder Pulse flagged that courts have not yet settled how broadly these exclusions will be applied and that for some policyholders the effect could render their coverage illusory. PHL Firm found that small to mid-sized firms, often without specialized coverage, face the greatest exposure.\nA New Market Fills the Gap\nSpecialized firms are stepping in. Munich Re and startups including Corgi, Armilla, Mayflower Specialty and Embroker now offer standalone AI liability policies, The Information reported. Coverage limits range from $2 million to $50 million. Premiums range from a few hundred dollars to several hundred thousand dollars annually.\nThe pattern mirrors how insurers handled cybersecurity a decade ago. A wave of attacks triggered corporate claims. Businesses argued successfully that traditional policies covered the losses because the policies did not explicitly exclude them. Insurers carved cyber out of standard coverage and built standalone products. That market matured. Now, the AI liability market is starting the same process.\nThe tension sits inside the industry itself. PYMNTS reported that insurance giants are deploying AI agents to orchestrate entire workflows across claims, underwriting and policy servicing. Those same carriers are simultaneously pulling AI coverage from the policies they sell. PYMNTS also reported that AI is beginning to transform underwriting itself, compressing timelines and changing how risk gets priced. Insurers are betting on AI internally while refusing to absorb AI risk externally.\nPHL Firm advised businesses to review existing policies for new endorsements with their brokers and consider seeking affirmative AI coverage through technology errors and omissions policies, cyber liability insurance, or emerging standalone AI products. Strengthening internal AI governance, conducting bias testing and disclosing AI use can also reduce exposure.\nInsurers are not saying AI is uninsurable. They are saying they do not yet know what it costs. Until they do, the risk sits with the businesses deploying the technology.\n\r\n\r\nThe post Big Insurance Backs Away From AI Risk and Startups Rush In appeared first on PYMNTS.com.", "date_published": "2026-05-01T16:04:27-04:00", "date_modified": "2026-05-01T16:04:27-04:00", "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-insurance-risks.jpeg", "tags": [ "AI", "Insurance", "News", "PYMNTS News", "risk management", "artificial intelligence" ] }, { "id": "https://www.pymnts.com/?p=3699525", "url": "https://www.pymnts.com/restaurant-technology/2026/chatgpt-finds-your-pizza-but-loses-the-checkout/", "title": "ChatGPT Finds Your Pizza but Loses the Checkout", "content_html": "PYMNTS tried ordering food through ChatGPT. Getting a pizza from Little Caesars took longer than driving to pick one up.
The post ChatGPT Finds Your Pizza but Loses the Checkout appeared first on PYMNTS.com.
\n", "content_text": "PYMNTS tried ordering food through ChatGPT. Getting a pizza from Little Caesars took longer than driving to pick one up.\r\n\t\r\n\t\t\r\n\t\r\n\r\n\r\n\t\nStarbucks and Little Caesars launched apps inside ChatGPT this month. Both brands are betting consumers will order food the same way they already plan meals and research products. The interface is familiar. The checkout is not.\nThe Setup Takes Longer Than the Order\nGetting started requires work. Users navigate to a connector directory inside ChatGPT, search for the brand and enable the integration manually. None of that happens in the native app. The Starbucks app opens with saved preferences, a loyalty balance and a reorder button. The ChatGPT path opens with a blank prompt.\nPYMNTS asked for something low-fat and high-protein. Starbucks returned a relevant drink, explained the option and let size selection happen inside the chat. Nearby locations appeared next. The flow worked. Then a store got selected. A browser opened. The Starbucks app took over. Login, payment, checkout. The conversation did not carry over.\nLittle Caesars did not get that far. The same ask returned recipe suggestions and outside options. Nothing came from the actual menu. A follow-up prompt produced one item. The flow then asked for a ZIP code. No results came back. Checkout never happened.\nWhere the Handoff Breaks\nBoth brands hand off to an external screen to complete payment. Starbucks routes checkout through its own app or website. Discovery happens inside ChatGPT. Payment happens outside it. The company made that choice deliberately as its loyalty program depends on owning the transaction.\nThat split reintroduces the friction the channel was designed to eliminate. The native Starbucks app completes an order in second, holds users\u2019 saved payment credentials and loyalty state. The ChatGPT flow takes several minutes to reach the same point. The handoff to a login screen does not feel like a final step; it feels like starting over.\nThe back-end infrastructure is the problem. Payment credentials live in one system. Loyalty lives in another. Order history lives somewhere else. The conversational front end cannot connect them. Users bridge that gap themselves, adding steps instead of removing them.\nWhat the Friction Is Actually Measuring\nThis is not a technology failure. Commerce infrastructure is not built for this.\nBites is building its entire business model around ChatGPT as an ordering channel. Starbucks kept checkout inside its own ecosystem on purpose. Neither brand is treating this as a gimmick. Both are making deliberate bets on where the interface is going.\nThose bets have logic behind them. Conversational ordering removes the browse-and-scroll loop. A model that knows a user’s preferences, location and time of day can outperform a static menu. The discovery layer already shows what that looks like.\nThe checkout layer is not there yet. Credentials need to travel with the conversation. Loyalty state needs to persist across sessions. Payment needs to complete inside the chat. Until that infrastructure exists, users have to bridge the gap themselves.\nThe tools work. The plumbing does not. That gap will close. The question is whether consumers wait for it or return to the three-tap experience that already knows their order, their address and their card number. Habit is a short-term moat. So is convenience. Right now, the native app still offers both.\n\r\n\r\nThe post ChatGPT Finds Your Pizza but Loses the Checkout appeared first on PYMNTS.com.", "date_published": "2026-05-01T15:48:15-04:00", "date_modified": "2026-05-01T15:48:15-04:00", "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/ChatGPT-food-ordering.jpeg", "tags": [ "AI", "ChatGPT", "Little Caesars", "News", "PYMNTS News", "starbucks", "ResTech" ] }, { "id": "https://www.pymnts.com/?p=3699517", "url": "https://www.pymnts.com/blockchain/2026/stablecoins-grew-up-now-come-the-rules/", "title": "Stablecoins Grew Up. Now Come the Rules\u00a0", "content_html": "The stablecoin market is moving fast in two directions at once. One path leads toward greater financial integration and the other toward greater regulatory scrutiny. The two are increasingly inseparable.
The post Stablecoins Grew Up. Now Come the Rules\u00a0 appeared first on PYMNTS.com.
\n", "content_text": "The stablecoin market is moving fast in two directions at once. One path leads toward greater financial integration and the other toward greater regulatory scrutiny. The two are increasingly inseparable.\r\n\t\r\n\t\t\r\n\t\r\n\r\n\r\n\t\nIn the past week alone, a flurry of announcements from major financial and technology players underscored the balancing act the digital asset space faces between achieving interoperability at global scale and managing the compliance needs that brings.\nVisa added five more blockchains to its global stablecoin settlement pilot, bringing its total to nine; while Meta\u00a0started offering stablecoin payouts to a limited group of creators. Elsewhere, the Walmart-backed FinTech OnePay\u00a0announced plans to add stablecoin payouts and account funding to its banking product through a new partnership with the\u00a0Tempo\u00a0blockchain; and\u00a0Anchorage Digital launched a partnership with stablecoin infrastructure company\u00a0M0 to merge M0\u2019s infrastructure capabilities with Anchorage\u2019s regulated issuance experience to serve a \u201cgrowing universe of stablecoin builders.\u201d\nBut as institutions race to unlock interoperability and cross-border efficiency, regulators are confronting a familiar set of concerns: money laundering, sanctions evasion and systemic risk.\u00a0On Tuesday (April 28), a WSJ report flagged that individuals sanctioned by the U.S. for their participation in the Prince Group scam-ring had later worked to enable the use of the Trump family-linked World Liberty Financial\u2019s stablecoin, USD1, on its network.\nThe news underscores that as stablecoins scale, so do their risks. Fraud, scams and illicit activity remain persistent challenges. But the growing regulatory push is not necessarily a headwind for the industry. In many respects, it reflects a recognition that stablecoins may be becoming systemically important.\nRead more: \u00a0The Privacy Problem Institutions Can\u2019t Ignore in Stablecoins\nChasing Interoperability While Navigating Compliance\nThe very features that make stablecoins attractive such as speed, accessibility and borderless transferability can also make them susceptible to misuse. Unlike traditional banking systems, where intermediaries play a central role in monitoring transactions, stablecoin networks often rely on a patchwork of exchanges, wallet providers and on-chain analytics firms to enforce compliance.\nIn 2025 alone, an estimated $17 billion was lost to crypto-related fraud, with AI-enabled scams dramatically increasing in sophistication.\n\u201cThe amount of content created for scamming people is absolutely through the roof. Our customers are swamped,\u201d Emmanuel Marot, vice president of products at\u00a0Chainalysis, told PYMNTS in a conversation about the company\u2019s \u201cblockchain intelligence agents,\u201d\u00a0unveiled\u00a0earlier this March.\nStill, the future of the digital asset space \u201csure looks bright,\u201d Marot added, noting that \u201cthere\u2019s a real-world usage and a need to make sure that the money goes to the right place.\u201d\nAmong the clearest signals of crypto\u2019s real-world usage comes from payment incumbents adopting them at scale. Visa\u2019s stablecoin settlement pilot has already reached an annualized run rate of $7 billion, growing roughly 50% quarter over quarter.\nIn effect, Visa is building a multi-chain settlement fabric. Settlement\u2014the behind-the-scenes process of reconciling transactions between banks\u2014has long been slow, opaque and fragmented. Stablecoins can potentially compress that timeline from days to minutes while also reducing intermediary costs.\nElsewhere, Meta\u00a0this week began offering stablecoin payments to creators, effectively turning its social platform into a financial one. This move revives an idea Meta explored\u2014and abandoned\u2014with its earlier digital currency initiative: embedding money directly into digital ecosystems. The difference now is that stablecoins provide a ready-made, interoperable solution, eliminating the need to build a proprietary currency from scratch.\nSee also: Treasury Calls for Programmable Financial Enforcement Across Crypto\u00a0\nBuilding the Picks and Shovels\nBehind the scenes, a new class of infrastructure providers is emerging to support this ecosystem. Companies like\u00a0M0\u00a0and\u00a0Anchorage Digital\u00a0are positioning themselves as the foundational layer for stablecoin issuance and custody.\nThis \u201cinfrastructure-as-a-service\u201d model mirrors earlier waves in cloud computing. Just as AWS enabled startups to build without owning servers, these platforms allow companies to issue and manage digital dollars without building blockchain expertise from scratch.\nThe result may be a rapid proliferation of both stablecoin use cases and issuers.\nThat proliferation was precisely what Anchorage\u2019s CEO advocated for on the latest episode of \u201cFrom the Block.\u201d Rather than a handful of dominant players, Nathan McCauley\u00a0said\u00a0he envisions thousands of crypto-native banks competing in a decentralized financial landscape, emphasizing that, \u201cin a world where there are 4,000 banks, we\u2019re powering 3,999 of them.\u201d\nWhat emerges from these developments is not a single trend but a layered transformation. At the base are blockchains, increasingly interconnected and specialized. On top sit stablecoins, acting as the unit of account. Above that, infrastructure providers enable issuance, custody and compliance. And at the surface, applications from payments to social platforms help deliver user experiences.\nThis stack is modular, programmable and global by design. But can it scale?\nFindings in the March PYMNTS Intelligence report, \u201cStablecoins Gain Ground: Why CFOs See More Promise There Than in Crypto,\u201d reveal that while more than 4 in 10 (42%) middle market companies have at least discussed stablecoins, only 13% have reported actual stablecoin use.\n\r\n\r\nThe post Stablecoins Grew Up. Now Come the Rules\u00a0 appeared first on PYMNTS.com.", "date_published": "2026-05-01T14:37:55-04:00", "date_modified": "2026-05-01T14:37:55-04:00", "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/stablecoins-regulations-digital-assets.jpeg", "tags": [ "Blockchain", "Crypto Regulations", "DeFi", "digital assets", "News", "PYMNTS News", "stablecoins" ] }, { "id": "https://www.pymnts.com/?p=3699477", "url": "https://www.pymnts.com/news/investment-tracker/2026/fun-secures-72-million-to-power-global-capital-markets/", "title": "Fun Secures $72 Million To Power Global Capital Markets", "content_html": "Fun\u00a0raised $72 million in a Series A funding round to expand its payments infrastructure that powers\u00a0Polymarket\u00a0and other internet-native capital markets.
The post Fun Secures $72 Million To Power Global Capital Markets appeared first on PYMNTS.com.
\n", "content_text": "Fun\u00a0raised $72 million in a Series A funding round to expand its payments infrastructure that powers\u00a0Polymarket\u00a0and other internet-native capital markets.\r\n\t\r\n\t\t\r\n\t\r\n\r\n\r\n\t\nThe company was founded in 2022, has operated in stealth, and now processes over\u00a0$18 billion\u00a0in transaction volume per year, delivering a 99.999% success rate and supporting millions of users across 100 countries, it said\u00a0in\u00a0a Friday (May 1)\u00a0press release.\nWith the new capital, Fun plans to continue investing in engineering, expand into the Asia-Pacific region with a new office in Singapore, and make acquisitions to deepen its infrastructure stack, according to the release.\nFun Founder and CEO\u00a0Alex Fine\u00a0said in the release that the company is building a system for use behind financial markets that moves money instantly, globally and without friction.\n\u201cFinancial markets have driven global prosperity for decades, but the systems behind them have not kept pace,\u201d Fine said.\nPolymarket Vice President of Engineering\u00a0Josh Stevens\u00a0said in the release that Fun builds around real user behavior, catches edge cases that others miss, and is meticulous about every detail.\n\u201cAt our size, every percentage point of conversion is millions of dollars and millions of users, and every reliability failure becomes a public conversation,\u201d Stevens said. \u201cFun has built the highest-converting, most reliable deposit flow we\u2019ve ever had.\u201d\nIt was reported April 16 that Polymarket and rival\u00a0prediction market\u00a0platform Kalshi had seen combined year-to-date volumes of\u00a0$60 billion. Overall, prediction market volumes are on track to come to around\u00a0$240 billion\u00a0this year and hit $1 trillion by 2030.\nFun\u2019s Series A round was co-led by\u00a0Multicoin Capital\u00a0and\u00a0SignalFire, according to the company\u2019s Friday press release release.\nSignalFire said\u00a0in\u00a0a Friday\u00a0post\u00a0on LinkedIn that most payment infrastructure\u00a0can\u2019t\u00a0keep up with modern capital and that Fun is rebuilding the system from the ground up rather than trying to put a better user interface on top of old rails.\n\u201cAt the scale that global applications operate, payment performance isn\u2019t just a boring back-office thing; it makes or breaks user retention,\u201d SignalFire said in its post. \u201cFun engineered a custom, highly technical orchestration layer to handle that exact challenge.\u201d\n\r\n\r\nThe post Fun Secures $72 Million To Power Global Capital Markets appeared first on PYMNTS.com.", "date_published": "2026-05-01T13:57:52-04:00", "date_modified": "2026-05-01T15:13:30-04:00", "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/Fun-digital-payments-investments.jpeg", "tags": [ "Fun", "Investments", "News", "payments infrastructure", "PYMNTS News", "What's Hot", "Investments" ] }, { "id": "https://www.pymnts.com/?p=3699360", "url": "https://www.pymnts.com/news/ipo/2026/softbank-backed-opay-eyes-4-billion-valuation-in-us-ipo/", "title": "SoftBank-Backed OPay Eyes $4 Billion Valuation in US IPO", "content_html": "OPay Digital Services, a payments platform focused on Nigeria and backed by\u00a0SoftBank Vision Fund\u00a0and\u00a0Sequoia Capital, is preparing for an initial public offering (IPO) in the United States, Bloomberg reported\u00a0Friday (May 1), citing unnamed sources.
The post SoftBank-Backed OPay Eyes $4 Billion Valuation in US IPO appeared first on PYMNTS.com.
\n", "content_text": "OPay Digital Services, a payments platform focused on Nigeria and backed by\u00a0SoftBank Vision Fund\u00a0and\u00a0Sequoia Capital, is preparing for an initial public offering (IPO) in the United States, Bloomberg reported\u00a0Friday (May 1), citing unnamed sources.\r\n\t\r\n\t\t\r\n\t\r\n\r\n\r\n\t\nThe company is seeking a valuation of\u00a0$4 billion, which would double the\u00a0$2 billion\u00a0valuation it achieved in a 2021 funding round, and it could launch the IPO by the end of the year, according to the report.\nOPay did not immediately reply to PYMNTS\u2019 request for comment.\nAccording to the Bloomberg report, OPay was founded by Chinese tycoon\u00a0James Yahui Zhou, who also founded\u00a0Kunlun Tech, which owns the web browser company\u00a0Opera. OPay now has\u00a040 million users.\nIt was reported in August 2021 that SoftBank\u2019s investment in OPay was the global technology investor\u2019s first foray into Africa. In that\u00a0funding round, OPay raised $400 million.\nOPay said in a Jan. 18\u00a0press release that it formed a new global core management team on Dec. 1, that includes Zhou as executive chairman and former\u00a0Citigroup\u00a0managing director\u00a0James Perry as chief financial officer.\nThe company described itself in the release as a leading digital banking platform in emerging markets and said the new management team would lead its \u201cnew strategic chapter.\u201d\nOPay said in the release that \u201cthis management upgrade integrates seasoned expertise across strategy, globalization,\u00a0operations\u00a0and finance, forming a strong leadership\u00a0synergy. The new team will accelerate OPay\u2019s global expansion and deliver greater value to users worldwide.\u201d\nThe company had already announced Perry\u2019s appointment as CFO in a Dec. 18 press release\u00a0in which it said he would oversee its financial strategy planning, capital structure management and investor relations. It said that during his 22 years at Citigroup, Perry directed and executed several mergers,\u00a0acquisitions\u00a0and capital market transactions for technology companies.\n\u201c[OPay] believes his exceptional international finance experience will provide strong support for OPay\u2019s global strategic expansion and operational excellence,\u201d the company said in the release.\nThe company said in a March 31\u00a0press release\u00a0that it opened a new office in Nigeria to strengthen its nationwide network and expand access to financial services.\n\r\n\r\nThe post SoftBank-Backed OPay Eyes $4 Billion Valuation in US IPO appeared first on PYMNTS.com.", "date_published": "2026-05-01T13:43:34-04:00", "date_modified": "2026-05-01T13:43:34-04:00", "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/2022/01/IPO-initial-public-offering.jpg", "tags": [ "banking", "IPO", "News", "OPay", "PYMNTS News", "What's Hot" ] } ] }