PYMNTS

DECEMBER 22, 2020

The U.S. Securities & Exchange Commission (SEC) has filed action against Ripple over allegedly conducting a $1.3 billion unregistered securities offering, Reuters reported on Tuesday (Dec. 22). San Francisco-based Ripple is a blockchain payments company connected to the XRP cryptocurrency, which Reuters reported is the third-biggest cryptocurrency by its $23 billion market value, next to only bitcoin and Ethereum.

Security 176

Security San Francisco cryptocurrency Bitcoin 176

PYMNTS

DECEMBER 22, 2020

The U.S. government sued Walmart Tuesday (Dec. 22), claiming that the retail giant exacerbated the country’s opioid crisis by not sufficiently keeping watch for suspect prescriptions despite warnings by its own pharmacists about the problem, The Wall Street Journal reported. The suit by the Department of Justice (DOJ) alleges that Walmart aimed to make more money by not sufficiently staffing its pharmacies while making workers expediently fill prescriptions.

United States 165

United States Retail Report Data 165

PYMNTS

DECEMBER 22, 2020

Investors have spent over $1 billion this year on buying up successful small businesses to try and create new digital conglomerates, according to the Financial Times. They have targeted businesses that became successful through Amazon with the pandemic's digital shift all year, the report says, and the ideal model is a conglomerate in the mode of Unilever or Proctor & Gamble.

San Francisco 209

San Francisco New York Marketing Report 209

PYMNTS

DECEMBER 22, 2020

Consumer confidence fell in December, declining to 88.6 of a possible 100 points from 92.9 in November, according to a Consumer Confidence Survey from The Conference Board. The figure is intended to reflect the attitudes and purchasing plans of consumers across various economic and demographic categories. On a more granular level, two of the data points that figure into the overall index number moved in opposite directions.

Conference 192

Conference US Survey Report 192

PYMNTS

DECEMBER 22, 2020

In today’s top retail news, former Macy’s CEO Terry Lundgren said he anticipates more store closings next year, while about half of Americans intend to travel for the December holidays amid the pandemic. Plus, the auto vertical keeps firing on all cylinders even with the pandemic, and CarMax is the latest case for its resiliency. Past Macy's CEO Foresees More Retail Store Closings In 2021.

Retail 173

Retail Utah Survey Strategy 173

PYMNTS

DECEMBER 22, 2020

Decentralized digital finance trade platform Contour has completed a pilot blockchain transaction between textile companies Tainan Spinning and Century Synthetic Fiber Corporation in Vietnam, according to a press release. The release also stated the transaction showcases the business growth in Vietnam and Taiwan. "As the world adapts to social distancing and post-COVID life, traditional methods of doing business will quickly be incompatible," said Contour CEO Carl Wegner , according to the relea

blockchain 259

blockchain Security Industry Company 259

PYMNTS

DECEMBER 22, 2020

The State Bank of Pakistan (SBP) is looking at making corporate supply chains digital, a report from Pakistan Today stated, with an eye toward more financial inclusion. “It is the overarching aim of the State Bank to ensure a safe and secure financial system," said SBP Deputy Governor Sima Kamil at a web conference, per the report. "The other role that we have is financial inclusion.

Conference 216

Conference System Retail National 216

PYMNTS

NOVEMBER 12, 2020

European tech firm SIA is forming a technological partnership with German software innovator INFORM to launch a digital service to speed up the authentication process for online payments across Europe. “Joining forces with INFORM, we help our customers speed up the adoption of strong customer authentication for safer online purchases,” Gabriele Boni, global service line cards director at SIA, said in a statement on Thursday (Nov. 12).

Payments 165

Payments Compliance Fraud User Experience 165

PYMNTS

NOVEMBER 12, 2020

Wells Fargo & Co is seeking to sell its private-label credit card and point-of-sale (POS) financing unit as part of an ongoing strategic review of its businesses. The banking group has started reaching out to possible bidders, but still hasn’t made a definitive decision as to whether it will actually sell the unit, which specializes in store-branded credit cards, according to a Bloomberg report.

Cards 285

Cards Conference Groups Report 285

PYMNTS

NOVEMBER 12, 2020

Alibaba smashed Singles’ Day sales records this year with help from an aggressive push into European and other foreign markets. Alibaba notched sales worth more than $74 billion in gross merchandise value during the event, or nearly double last year’s take, PYMNTS has reported. The bigger winnings for the Chinese online shopping behemoth came alongside the extension of Singles’ Day this year from a one-day event on Nov. 11 to also include Nov. 1 through Nov. 3.

Resources 131

Resources Online Operations Examples 131

PYMNTS

NOVEMBER 12, 2020

Amazon said on Thursday (Nov. 12) that it is expanding its Key In-Garage Delivery service to Prime members in more than 4,000 cities across the U.S. Prime members will be able to accept deliveries in their garages using a myQ smart garage opener system that links to Key. Customers can then select free in-garage delivery when placing Amazon orders. Delivery notifications can be viewed through the Key by Amazon app or the Amazon mobile app.

Los Angeles 264

Los Angeles San Francisco US Dallas 264

PYMNTS

NOVEMBER 12, 2020

Spreedly , a payments infrastructure firm headquartered in Durham, North Carolina, is introducing innovative revenue optimization solutions aimed at increasing conversions. “Spreedly’s goal is to help every business to optimize their payment strategy by leveraging a diverse array of services,” Daniel Wideman , vice president of product, Spreedly, said in a statement on Thursday (Nov. 12).

Innovation 163

Innovation Tools North Carolina Cards 163

PYMNTS

NOVEMBER 12, 2020

Luxury product rip-off artists and their social media accomplices beware: Amazon is coming after you. Amazon on Thursday (Nov. 12) filed a lawsuit in federal court in Washington state against 13 individuals and businesses “for advertising, promoting and facilitating the sale of counterfeit luxury goods in Amazon’s store,” the online retail and tech giant announced in a press release.

social media 132

social media Washington Video Retail 132

PYMNTS

NOVEMBER 12, 2020

Global payments solutions provider Klarna is launching a new iOS widget that lets people monitor prices for the best deals, sales, and promotions. “With online shopping becoming the new norm and as people prepare for the upcoming holiday season, the Klarna app can play an integral role in simplifying this busy shopping period. With these new features, we want shoppers to feel in control while getting access to all of the best products and brands in a simple and tailored way, all from the comfort

Trends 135

Trends Study Survey Online 135

PYMNTS

NOVEMBER 12, 2020

Twelve years after the housing and mortgage markets’ collapse threw the United States into financial distress not seen since the Great Depression, market watchers are again on the lookout for a possible new banking crisis spawned by upheaval in the U.S. commercial real estate sector. COVID-19 has caused urban flight, hollowing out cities by catalyzing the surge in working from home, shopping online and not traveling far from one’s residence.

New York City 227

New York City New York Missouri Philadelphia 227

PYMNTS

NOVEMBER 12, 2020

In today’s top news, Railsbank closed a $37 million funding deal, and companies in the U.S. and U.K. urged antitrust regulators to act fast in enforcement toward Google. Plus, Afterpay launched a cross-border payment option for merchants. UK BaaS Railsbank Closes $37M Funding Deal To Support Growth. U.K. banking-as-a-service (BaaS) Startup Railsbank closed a $37 million funding deal co-led by MiddleGame Ventures and Ventura Capital.

Google 193

Google Payments Regulation Branding 193

PYMNTS

OCTOBER 4, 2020

Singapore Banking-as-a-Service (BaaS) startup RootAnt has ended a seed round with $1.46 million, according to a report by e27. The lead investor was Linear Capital and further help came from KZM & Company Group, the report stated. With the new funding, RootAnt plans to expand in Singapore and also to the rest of Southeast Asia and Japan. Through connecting enterprises and financial institutions (FIs) with new digital products, RootAnt aims to let banks and non-bank FIs integrate innovative p

Customer Experience 141

Customer Experience Innovation Report Technology 141

PYMNTS

OCTOBER 4, 2020

Nonprofit Nacha , which enables Automated Clearing House ( ACH ) payments, has adopted eight new amendments to the Nacha Operating Rules that a press release said will help to modernize the payment style. The amendments concern Same Day ACH and new ways of making ACH payments easier to use, the release stated. Two of the rules also give a new framework for businesses, financial institutions (FIs), payment providers and technology companies to authorize consumer ACH payments, able to be applied t

Payments 283

Payments Resources Technology Fraud 283

PYMNTS

OCTOBER 4, 2020

A former Uber executive is planning to launch a $250 million initial public offering (IPO) for a blank check company whose advisors include billionaire Eric Schmidt, an ex- Google CEO, IPO Edge reported. Emil Michael filed an S-1 prospectus on Friday (Oct. 2) for DPCM Capital Inc. , a special purpose acquisition company or SPAC , with the Securities and Exchange Commission (SEC).

Google 257

Google San Francisco Capital Millennials 257

PYMNTS

OCTOBER 4, 2020

As the pandemic continues, so does the lagging economy — and a spate of now permanent layoffs, CNN reported. In the past six months, the number of people whose job losses became permanent more than doubled, CNN reported, which marked the fastest increase on record. While some of the layoffs were termed as temporary earlier in the pandemic, the worsening economy has changed that for millions of people in recent weeks.

US 197

US Report Company 197

PYMNTS

AUGUST 21, 2020

Amid an approaching Federal Trade Commission (FTC) meeting, Facebook has advocated for rules that make it simpler for users to move media to a competing technology firm, Reuters reported. “The FTC often issues reports following these workshops,” Facebook Privacy and Public Policy Manager Bijan Madhani told the newswire. “I think their recommendations should include dedicated portability legislation.”.

Meeting 142

Meeting social media Data Google 142

PYMNTS

AUGUST 21, 2020

It’s often said that home is where the heart is. But in 2020, it seems that expression could be modified to note that home is just about where everything making up a typical consumer’s life is, as COVID-19 has seriously dimmed most people’s enthusiasm for being out and about. Consumers are nesting, a conclusion supported by recent data from the online home remodeling platform Houzz.

Exercises 216

Exercises Report Study Marketing 216

PYMNTS

AUGUST 21, 2020

In today’s top news, $50 billion worth of cryptocurrency was transferred out of China, and Uber Health and NimbleRx have teamed on prescription delivery. Plus, Amazon has put some hiring on hold for its Alexa operation. Report: $50B in Cryptocurrency Moved Out of China. More than $50 billion of cryptocurrency was transferred from virtual wallets in China to other parts of the world last year, a potential violation of the nation’s strict limits on how much money can be sent abroad.

cryptocurrency 159

cryptocurrency Maine Boston Analytics 159

PYMNTS

AUGUST 21, 2020

The moratorium on job cuts at Wells Fargo & Co. is over. Bloomberg News reported the San Francisco-based global financial services company has launched a long-term cost-cutting effort. Facing pressure to reduce costs, Wells Fargo said it has ended a moratorium on layoffs as it prepares for cuts that could total in the billions. “Starting in early August, we resumed regular job displacement activity … we are at the beginning of a multiyear effort to build a stronger, more efficient comp

San Francisco 144

San Francisco Minneapolis New York Conference 144

PYMNTS

AUGUST 21, 2020

It’s the end of the work week, and the PYMNTS Weekender is here to make sure you didn’t miss anything with the latest in payments and commerce news. We have deep dives into small and medium-sized business (SMB) financing, eLearning platform payments and the rise of the auto-refill economy. Top News. The Rise Of The Auto-Refill Economy. Brands and marketplaces now make it simple to auto-refill all sorts of products such as pet food and paper towels.

Payments 158

Payments Samsung Maine Report 158

PYMNTS

AUGUST 21, 2020

TikTok users who are worried that the lip-syncing and dancing video app will disappear in November can probably relax. Despite a threatened presidential ban and an executive order for ByteDance Ltd. to sell its U.S. TikTok operations within 90 days , the Beijing, China-based video app isn’t going away. “We believe we have multiple paths forward to ensure that we continue to provide this amazing app experience to the millions of Americans who come to rely on it every day,” TikTok’s General

Los Angeles 142

Los Angeles United States Video National 142

PYMNTS

AUGUST 21, 2020

Citigroup Inc. returned to court Friday (Aug. 21). Reuters reported the New York-based multinational investment bank and financial services corporation filed its third suit in the U.S Southern District of New York Court to recoup $900 million it mistakenly sent to lenders of Revlon Inc. While many firms returned the money at Citi’s request, the bank said in court documents, a dozen have been sued after what the bank called an “operational error” caused it to transfer $900 million of its own fund

San Francisco 263

San Francisco New York Capital Analysis 263

PYMNTS

AUGUST 21, 2020

Facebook ’s Chief Marketing Officer Antonio Lucio is leaving the social media behemoth after just two years on the job to actively promote diversity in the technology sector. He wrote on his LinkedIn page : “After two meaningful years, I have decided to step down as chief marketing officer of Facebook. “This has been a challenging year for all and an especially reflective year for me, following my mother’s passing before the lockdown.

Puerto Rico 143

Puerto Rico social media Louisiana Leadership 143

PYMNTS

AUGUST 21, 2020

As it approaches its potential introduction to the public markets, Palantir is reportedly set to be the newest in a line of tech firms to go public long prior to bringing in positive income, The New York Times reported. Palantir registered $742.5 million in revenue last year, marking an increase of almost 25 percent from the prior year. It had a net loss of $580 million, roughly equivalent to its loss in 2018, while costs were slightly above $1 billion.

Report 250

Report United States New York Big Data 250

PYMNTS

JULY 8, 2020

“2020 will be the year when businesses invest in filling their information and skill gaps to take advantage of digital commerce.”. It’s now clear that all the talk of COVID-era change is crossing over into reality. “For software-as-a-service (SaaS) providers, we expect headwinds and tailwinds,” observed Payoneer CEO Scott Galit. “Unfortunately, this extended period of shutdowns and slow economic activity means fewer businesses will be around in the latter half of the year.

Tools 161

Tools Software Trends Retail 161

PYMNTS

JULY 8, 2020

“The reality is that many banking processes aren’t yet able to fully take advantage of the cloud, and are relying on systems that can’t automatically adjust capacity.” . “What has become apparent over the past 12 weeks,” according to Alessandro Petroni , head of financial services strategy at Red Hat , “is that organizations that had started down a path to modernizing their technology and processes to better compete digitally were more equipped to adapt and scale.

United States 176

United States System Strategy Digital Banking 176

PYMNTS

JULY 8, 2020

To provide platform clients a greater ability to grow and be transparent with global payments, cloud banking company Mambu and B2B cross-border technology firm Currencycloud have joined forces with an integration, according to an announcement. The combined technologies of the two companies let clients quickly put virtual accounts, collections, foreign exchange (FX) services and payments into place, the announcement states.

Payments 141

Payments Innovation Technology Cards 141

PYMNTS

JULY 8, 2020

American Express (NYSE:AXP) and SAP Concur announced on Wednesday (July 8) two new offerings integrating services, the latest in a long series of collaborations between the companies. Both offerings, American Express said in its announcement , will “help businesses streamline and automate their invoicing and expense management processes.” The first new offering integrates American Express business or corporate cards with the SAP Concur Invoice product, which is designed to help compa

Washington 171

Washington Cards Operations Management 171

PYMNTS

JULY 8, 2020

Amid an accelerated migration of a number of customers to in-house card issuance because of Wirecard’s difficulties, Soldo has become a principal member of Mastercard with the extension of its partnership with the firm. The tie-up allows the European FinTech firm to have more independence in innovating payment offerings and makes it less reliant on third parties, according to an announcement.

Cards 200

Cards Fintech Innovation Capital 200

PYMNTS

JULY 8, 2020

Amazon will show the business names and addresses of merchants on their seller profile pages beginning at the start of September, according to an announcement. The eCommerce retailer said merchants can provide further information regarding their companies “and products that you think would be helpful to customers.” However, it advised merchants to not include an email address.

New York 154

New York Branding Retail Fraud 154

PYMNTS

JULY 8, 2020

Chicago-based GoHealth has filed to raise $750 million in an initial public offering (IPO) of its Class A common stock, according to an amendment to its registration seen by Seeking Alpha. Thus far, the company has received $869 million from investors, with one of them being Centerbridge Capital Partners. The company, which provides online health insurance software and direct-to-consumer signups for Medicare Advantage, could succeed based on its “strong growth trajectory, excellent prospec

Chicago 150

Chicago Online Operations Software 150

PYMNTS

JULY 8, 2020

A new Apple service will let customers browse shops in person in a safe and convenient way through setting appointments, according to 9 to 5 Mac. The tech giant’s Shop with a Specialist feature will let customers schedule appointments ahead of time to visit an Apple store without dealing with large crowds amid the pandemic, 9 to 5 Mac reported.

Apple 151

Apple Guidelines Report Retail 151