PYMNTS

NOVEMBER 24, 2020

The hotel industry may be struggling in the wake of COVID-19, but a new deal by two major global operators shows there is still lots of life left in the sector. Upscale French hotel giant Accor SA announced on Tuesday (Nov. 24) that it has agreed to merge its boutique brands with U.K.-based Ennismore to create a new venture that it is already being touted as “the world’s leading lifestyle operator.”.

Branding 168

Branding United States Operations Company 168

PYMNTS

NOVEMBER 24, 2020

Li Keqiang , Chinese premier, forecasts that the country could return to normal economic activity by next year, Reuters reports. Speaking at a news conference with leaders of six major international economic and financial groups, including the World Bank and International Monetary Fund, Li said the country's economy “this year can achieve positive growth, and we expect next year (economic) operations can recover to a reasonable range,” Reuters reports.

Regional 195

Regional Conference Marketing Report 195

PYMNTS

NOVEMBER 24, 2020

Bitcoin continued its price climb today (Nov. 24), rising above $19,000 in the morning, CNBC reported. At 6:31 pm EST, the digital currency still hit high, sitting at $19,083.92, as the coin approaches its record price of $19,783, which it hit in December of 2017. While that price apex was followed by a bubble burst and bitcoin fell to $3,122 in 2018, analysts and crypto fans predict this wave is different.

Bitcoin 339

Bitcoin Lending cryptocurrency Capital 339

PYMNTS

NOVEMBER 24, 2020

Nordstrom crossed a critical digital-first economy threshold in its earnings announcement on Tuesday (Nov. 24). It became the first brick-and-mortar retailer to earn the majority of its revenue from eCommerce as 54 percent of its third-quarter take came from digital channels. “We view this as a fundamental shift in shopping behavior, and we are well-positioned to support our customers across both Nordstrom, and Nordstrom Rack (outlet stores) with a scalable platform that has been built to suppor

Retail 221

Retail US Online Taxes 221

PYMNTS

NOVEMBER 24, 2020

FinTech Stripe is considering a funding round to value it higher than the $36 billion it got on its last round, Bloomberg reports. According to people familiar with the discussions, the new valuation could hit as much as $70 billion or maybe as much as $100 billion, Bloomberg said. If it got as high as $100 billion, it would make Stripe one of the most valuable venture-backed startups in the country, Bloomberg reported.

Fintech 294

Fintech Software Payments Capital 294

PYMNTS

NOVEMBER 24, 2020

South African digital identity firm Entersekt is partnering with African FinTech Cellulant to bring enhanced cybersecurity to mobile banking and digital payments. . Schalk Nolte , chief executive officer of Entersekt, said in a statement on Tuesday (Nov. 24) that the collaboration with Cellulant will help “drive consumer confidence in digital banking and boost the adoption of digital payments on the continent.”.

Digital Banking 145

Digital Banking Security User Experience Fraud 145

PYMNTS

NOVEMBER 24, 2020

The U.S. Centers for Disease Control and Prevention (CDC) is finalizing its recommendations for shorter quarantine times after potential COVID-19 exposure, The Wall Street Journal (WSJ) reports. The new quarantine time would be between seven and 10 days if one learns they've potentially exposed to the coronavirus, down from 14 days, the standard since the pandemic began.

Compliance 186

Compliance Study Conference Report 186

PYMNTS

NOVEMBER 24, 2020

Point-of-sale restaurant technology startup Toast recently held a secondary share offering that reportedly valued the company at $8 billion as restaurants and ResTech rebound from COVID-19 lockdowns’ depths. CNBC this week cited unnamed sources as saying that Toast held the sale to let current and former employees cash out up to 25 percent of their vested shares at $75 apiece.

Industry 201

Industry Kansas City Kansas Tools 201

PYMNTS

NOVEMBER 24, 2020

U.S. challenger bank Current has raised $131 million in a Series C funding round, according to a press release. The round was led by Tiger Global Management , while new investors Sapphire Ventures and Avenir also contributed alongside existing investors Foundation Capital , Wellington Management Company and QED Investors. Current has had a good year, seeing its member base double in less than six months, now past 2 million members.

Mobile 185

Mobile Digital Banking Meeting Capital 185

PYMNTS

NOVEMBER 24, 2020

Singapore's financial regulator is sticking to the original plan to award digital banking licenses by the end of the year, according to a Bloomberg report, no matter how tight the scrutiny is in China and the U.S. The regulatory tightening going on in China “will not have an impact on the digital banks here,” Ravi Menon , managing director of the Monetary Authority of Singapore (MAS), said in a recent interview, Bloomberg reports.

Digital Banking 157

Digital Banking Groups Regulation Policies 157

PYMNTS

OCTOBER 16, 2020

The fashion category has arguably been the most complex amid the pandemic and subsequent shift to the digital-first economy. Business models have been flipped to emphasize eCommerce over physical stores. The consumer is buying more casual clothes than they were just six months ago. It’s enough to compel a retailer to make substantial changes as the holiday season heats up.

Meeting 131

Meeting Branding Retail Strategy 131

PYMNTS

OCTOBER 16, 2020

The popular social app TikTok is driving toy sales as the platform becomes a popular entertainment vehicle for children, tweens and teens, according to a Friday (Oct. 15) CNBC report. “While word-of-mouth is likely taking a backseat among the youngest of kids, especially since playdates are less frequent, with technology, kids have been getting access to what’s new via other avenues,” Juli Lennett , a toy industry analyst at market researcher NPD Group, told CNBC. .

social media 130

social media Video National Branding 130

PYMNTS

OCTOBER 16, 2020

Facebook’s Ireland and United Kingdom unit has agreed to change the way Instagram works to “make it much harder for people to post an (advertisement) on Instagram without labelling it as such,” Britain’s top antitrust regulator announced Friday (Oct. 16). “The Competition and Markets Authority has been investigating hidden advertising on Instagram over concerns that too many social media influencers are posting content about businesses without making clear where they have been paid or incentiviz

social media 212

social media Branding Guidelines Regulation 212

PYMNTS

OCTOBER 16, 2020

In today’s top news in digital-first banking, Mizuho Bank, JCB and Fujitsu will pilot a blockchain-based identification system, while BBVA participated in an instant payments experimental effort in the U.K. Plus, The Libra Association has named a former HSBC executive as Libra Networks’ new chief financial officer and chief risk officer. Japan's Fujitsu, JCB, Mizuho Bank Test Blockchain-Based ID System.

blockchain 214

blockchain Payments System Conference 214

PYMNTS

OCTOBER 16, 2020

In today’s top payments news around the world, India’s pay-later app Slice is introducing a no-fee Visa Card, while Stripe is purchasing payment processor Paystack. Plus, London’s FinTech space has been going strong in 2020 despite the pandemic. Slice Integrates No-Fee Visa For Millennial Shoppers In India. Slice is debuting a no-fee Visa Card that provides its millennial and Gen Z clients with cash back and no-cost EMIs during festive sales.

Millennials 131

Millennials Payments Cards Fintech 131

PYMNTS

OCTOBER 16, 2020

Jack Ma’s Ant Group is said to be setting its sights on a $280 billion minimum valuation target for its initial public offering (IPO), which is 12 percent higher than its earlier $250 billion valuation, sources familiar with the deal told Bloomberg on Friday (Oct. 16). The increase is triggered by an increase in demand, according to the sources. With same-day listings in Hong Kong and Shanghai, this IPO is tracking to be the world’s largest, topping Saudi Aramco’s record $29 billion raise.

Groups 207

Groups National Management Security 207

PYMNTS

OCTOBER 16, 2020

Russian search giant Yandex said in a statement on Friday (Oct. 16) that merger talks with TCS Group Holding (Tinkoff) have fallen apart. . “Yandex regrets to confirm that it has not been able to agree to definitive transaction terms with the core shareholders of Tinkoff, and accordingly that the parties have mutually agreed to terminate discussions regarding a possible offer by Yandex for 100% of the share capital of Tinkoff,” Yandex said in a press release.

Groups 141

Groups Google Capital Fintech 141

PYMNTS

OCTOBER 16, 2020

The notion that “cash is king” when it comes to how we pay for things and like to be paid ourselves has outlived its time, new PYMNTs research shows. How We Will Pay 2020 , a study conducted by PYMNTS and Visa , found that cash usage is a fraction of what it used to be given the modern, digitally connected economy. The report, which surveyed more than 9,500 U.S. consumers, also found that the pandemic has only accelerated cash’s decline, as consumers have shown a growing preference for touchless

Payments 166

Payments Study Survey Cards 166

PYMNTS

OCTOBER 16, 2020

SK Telecom and Uber Technologies have entered into two business arrangements — one an agreement to collaborate and the other a joint venture — focusing on the ride-hailing business, SK Telecom announced on Friday (Oct. 16). One part of the arrangement calls for SK Telecom to spin off its Mobility Business Unit to create a company called T Map Mobility.

Mobile 159

Mobile Maine Technology Operations 159

PYMNTS

OCTOBER 16, 2020

In today’s top news, Americans are struggling as savings accounts run dry, and several states are preparing their own antitrust probe into Google. Plus, Amazon reported that third-party sellers garnered over $3.5 billion in Prime Day sales. Study Shows Americans Struggling As Savings Dry Up. Seven months into the worldwide pandemic, Americans are facing empty savings accounts, reduced unemployment benefits and no relief in sight, according to an Oct. 16 (Friday) J.P.

Google 146

Google Study North Carolina Nebraska 146

PYMNTS

SEPTEMBER 9, 2020

PYMNTS research finds that roughly 40 percent of all U.S. consumers who shifted to digital commerce during the spring — approximately 99 million people — don’t plan to resume regular in-store shopping after the COVID-19 incident is declared over. For them, stores are “over.”. That’s more than a reset of commerce. It’s a mass economic migration. Inspiring Trust In The New Digital Economy Report , a new report from PYMNTS, studies suddenly dominant eCommerce, and how merchants can reinvent themsel

Millennials 144

Millennials Branding Groups Online 144

PYMNTS

SEPTEMBER 9, 2020

Mastercard has announced a new virtual testing platform for Central Bank Digital Currencies (CBDCs). In a Wednesday (Sept. 9) news release, Mastercard said a recent survey revealed 80 percent of central banks are engaged in some form of CBDCs, while 40 percent have moved from research to experimenting with concept and design, according to by the Bank for International Settlements.

cryptocurrency 330

cryptocurrency Regional Survey blockchain 330

PYMNTS

SEPTEMBER 9, 2020

At a time when the pandemic is reshaping the luxury industry, LVMH Moët Hennessy Louis Vuitton SE indicated on Wednesday (Sept. 9) it is withdrawing from a $16.2 billion acquisition of Tiffany & Co. , The Wall Street Journal reported. The luxury goods firm contended that the government of France and the American jewelry firm requested the deal be postponed to after the closing date that is permissible under the agreement, the newspaper reported.

Delaware 137

Delaware Retail Report Industry 137

PYMNTS

SEPTEMBER 9, 2020

Big Tech’s battles with European regulators continue to grow. The German cabinet on Wednesday (Sept. 9) approved draft legislation that would expand the powers of the country’s Federal Cartel Office to regulate companies that dominate the internet economy, Bloomberg reported. The proposal would, specifically, authorize the regulatory agency to act if marketplace platforms take the data they collect and use it to undermine competitors, such as small and medium-sized businesses (SMBs).

Regulation 130

Regulation Apple Policies Google 130

PYMNTS

SEPTEMBER 9, 2020

American Eagle Outfitters, Inc. reported on Wednesday (Sept. 9) that Q2 digital demand, which is tracked by ordered sales, surged 48 percent. The apparel retailer reported that Aerie digital demand jumped 113 percent and AE rose 21 percent, according to an announcement. “In the midst of an unprecedented crisis, we delivered a significant improvement from the first quarter throughout our business — a true testament to the agility, talent and commitment of our team,” American Eagle Outfitters Chai

Taxes 131

Taxes Retail Branding Report 131

PYMNTS

SEPTEMBER 9, 2020

Pandemic or not, people are still getting married. And social distancing or not, they’re still having weddings – although the scale and scope of them are radically different than even the most aggressive Bridezilla could imagine. Caught somewhere in the middle is a category that has had a tough run this lost summer of 2020: bridal retailers. According to wedding planning and news site The Knot , COVID-19 has impacted hundreds of thousands of weddings nationwide since the start of the pandemic in

Retail 134

Retail Los Angeles Guidelines Video 134

PYMNTS

SEPTEMBER 9, 2020

Regardless of what happens with the sale of TikTok, social commerce could become a retail factor to reckon with in Q4, and is definitely ready for its close-up in 2021. In fact a new report puts the global market for social commerce at $89.4 billion this year and says it will reach $604.5 billion by 2027, growing at a CAGR of 31.4 percent. Of course TikTok, along with Facebook and Instagram, is the social commerce platform of the moment and whoever gets the winning bid for it will be immediately

Marketing 209

Marketing Report social media Course 209

PYMNTS

SEPTEMBER 9, 2020

Kroger will announce its earnings on Friday (Sept. 9) at the market’s open, marking the end of an aggressive second quarter in which the supermarket giant finds itself competing beyond its traditional category competition and going up against Amazon and Walmart. By the numbers, analysts are expecting about a 5 percent revenue increase over Q1. The overall number is consistent with the supermarket industry, but more importantly, Kroger will need to show that it continues to capture the digital sh

Dallas 141

Dallas California Survey Industry 141

PYMNTS

SEPTEMBER 9, 2020

Digital disbursement technologies have recently emerged, allowing consumers to access funds within a half-hour—or even within seconds, in some cases. These solutions could make or break business relationships between firms and their partners or clients. And in retail, several reports are indicating healthy inventory positions as a point of optimism in retail’s comeback process.

Retail 157

Retail California Data Technology 157

PYMNTS

SEPTEMBER 9, 2020

The stimulus payments may not have done much to, well, stimulate the economy at large. A recent report by the National Bureau of Economic Research (NBER) finds that recipients of the initial $2.2 trillion in stimulus checks tended to use those payments to bolster their savings or pay down debt – and only a small percentage of those surveyed actually spent that money.

Payments 173

Payments Survey National Taxes 173

PYMNTS

SEPTEMBER 9, 2020

Trulioo , which provides identity verification services, will now be able to perform those functions in Pakistan, according to a press release emailed to PYMNTS. Pakistan is the world's fifth most populous country with 212 million people, the release stated, and Trulioo will be using GlobalGateway, the largest identity verification marketplace, to help provide services in the country.

Mobile 206

Mobile Survey Fraud Security 206

PYMNTS

SEPTEMBER 9, 2020

Apple Inc. refuses to let the popular “Fortnite” video game maker gain any advantage in a California courtroom. The Wall Street Journal reports the Cupertino, California-based multinational technology company has filed a counter lawsuit against Epic Games accusing the North Carolina software developer of greed and deceit in the fight over the iPhone maker’s App store.

Apple 159

Apple North Carolina California Software 159

PYMNTS

SEPTEMBER 9, 2020

The American healthcare system is sick — a story told in a runaway cost structure, subpar patient outcomes, frustrated physicians and what Sesame CEO David Goldhill called during a conversation with Karen Webster “315 million miserable stories about healthcare.”. “Every single American has had some terrible thing that happened to them … usually because of confusion, complexity [or] lack of accountability,” he said.

System 240

System New York City Policies Industry 240

PYMNTS

SEPTEMBER 9, 2020

Apple Inc. refuses to let the popular “Fortnite” video game maker gain any advantage in a California courtroom. The Wall Street Journal reports the Cupertino, California-based multinational technology company has filed a counter lawsuit against Epic Games accusing the North Carolina software developer of greed and deceit in the fight over the iPhone maker’s App store online software store.

Apple 141

Apple North Carolina California Software 141

PYMNTS

SEPTEMBER 9, 2020

Amwell , the Boston-based telemedicine company, is planning to go public as the demand for virtual healthcare offerings skyrockets amid the coronavirus pandemic. The Motley Fool reported privately-held Amwell, a subsidiary of Aligned Telehealth Inc., filed its initial public offering (IPO) with the Securities and Exchange Commission late Tuesday (Sept. 8).

Boston 159

Boston Company Wisconsin Google 159

PYMNTS

SEPTEMBER 9, 2020

If you’re looking for something positive to smile about, this might do the trick: The Wall Street Journal recently reported that charitable giving for COVID-related causes now stands at about $13 billion. The paper said that exceeds the combined donations following the 9/11 attacks, the 2008 financial crisis, and hurricanes Harvey and Sandy, according to an analysis by Candid, a group that tracks global philanthropy.

Training 141

Training California Regional Analysis 141

PYMNTS

SEPTEMBER 9, 2020

The payments digitization push has ramped up for corporates in recent months, with growing corporate card adoption attributed to the pandemic, recent Mastercard data reveals. Yet it's not only the need to embrace electronic payments that is encouraging government agencies, small businesses and larger enterprises to embrace the payment tool. In this week's Commercial Card Innovation Tracker, PYMNTS rounds up the latest innovations that showcase how industry players are looking beyond the card its

Cards 235

Cards CA Management Fintech 235