PYMNTS

JANUARY 7, 2021

Customers of Simple Bank are receiving emails telling them the bank is closing and that the intent is to transfer them to BBVA , a report from Talk Android says. After Simple Bank launched as an online bank specializing in high-interest savings accounts, the current economic climate ended up making it unfeasible. So BBVA pulled the plug. Talk Android posts a letter from the company in which it says there will be "no immediate impact" to accounts and that users don't need to do anything right now

FDIC 336

FDIC Google User Experience Lending 336

PYMNTS

JANUARY 7, 2021

Russian hacker Andrei Tyurin, who helped carry out an attack on J.P. Morgan Chase, among other companies, has been sentenced to 12 years in prison, Bloomberg reported. Tyurin pled guilty in 2019 to the crime, which netted hundreds of millions of dollars and affected around 140 million clients, according to the prosecutors in the case. While he was originally facing 15 to 20 years, U.S.

Georgia 160

Georgia Report Company Fraud 160

PYMNTS

JANUARY 7, 2021

Cloud banking startup Mambu has raised €110 million (nearly $135 million) in a new funding round aimed at financing the company’s global expansion. TCV led the latest round of financing, with Tiger Global and Arena Holdings contributing additional dollars. Current investors Bessemer Venture Partners, Runa Capital and Acton Capital Partners also took part.

United States 255

United States Software Capital Fintech 255

PYMNTS

JANUARY 7, 2021

In the humming world of gig apps, three variations dominate. There’s the platform model, where contractors create profiles and upload portfolios; we’ve got the on-demand type (think restaurant mobile order-ahead and day labor apps); and freelancer apps that may allow gig workers to classify themselves by vertical expertise or specialty. It’s a rich ecosystem.

Mobile 240

Mobile Marketing Report 240

PYMNTS

OCTOBER 20, 2020

AT&T is offering new and existing customers a free Apple iPhone 12 — with a trade-in and the selection of an unlimited 5G network plan. The deal is available now online, a press release said. “Last week’s iPhone launch was an important milestone for 5G and the industry as a whole,” Thaddeus Arroyo , CEO of AT&T Consumer, said in a Wake Up With Cheddar interview, adding, “with AT&T you’re going to get the best offer on the fastest 5G network nationwide.”.

Apple 132

Apple Samsung Security Operations 132

PYMNTS

OCTOBER 20, 2020

Colombia-based RobinFood — Latin America’s fastest-growing chain of “cloud” restaurants — credits proprietary technology, the explosive growth of FinTechs and pandemic-led lifestyle changes as the secrets of its success. Add in ghost virtual-ordering kiosks and physical locations and Luis Vega , RobinFood co-founder and COO, expects RobinFood to become Latin America’s largest player by restaurant count by 2024.

Company 184

Company America Kentucky Regional 184

PYMNTS

OCTOBER 20, 2020

Physical grocery stores are opening despite COVID-19, with Amazon , Whole Foods and ALDI making plans to cut the ribbon on new brick-and-mortar sites in Chicago and other cities. Amazon Fresh, a new physical retail concept from Amazon, is setting up shop in four locations in the Chicago market, the Chicago Tribune reported. The stores will reportedly be in Bloomingdale, Naperville, Schaumburg and Oak Lawn in the Chicago market, while stores have also been announced for North Hollywood, Northridg

Los Angeles 141

Los Angeles Phoenix Chicago Long Beach 141

PYMNTS

OCTOBER 20, 2020

"As COVID-19 reshapes the perceptions and needs of digital payments, one of the significant shifts for our team here at Blackhawk Network has been working to further intensify the growth and adoption of digital payments and gifting, including the expansion of mobile wallets with our retail partners and consumers," says Brett Narlinger, head of global commerce for Blackhawk Network.

Survey 218

Survey Mobile Retail User Experience 218

PYMNTS

OCTOBER 20, 2020

Direct-to-consumer (D2C) haircare brand eSalon has seen a growth spike as the U.S. and Europe have continued social restrictions due to the pandemic. And bridge millennials are nearly twice as likely as the average consumer to utilize voice-activated technology to make purchases, as they are the first generation of consumers who have grown up with connected devices and are accustomed to shopping and paying with them.

Millennials 130

Millennials Data Branding Technology 130

PYMNTS

OCTOBER 20, 2020

Shopify and BigCommerce have a new competitor. Fabric, a new headless commerce platform startup for retailers, came out of the gate with a head of steam on Tuesday (Aug. 20) as it announced its new product, executive team and initial funding round. The initial round will include $9.5 million in seed funding led by Redpoint Ventures, with participation from Sierra Ventures and Expa.

Retail 238

Retail Branding Technology Tools 238

PYMNTS

OCTOBER 20, 2020

Movie theater giant AMC Entertainment is scrambling to raise cash by issuing shares, even as it warns that its efforts to right its sinking finances may fall short. Hammered by coronavirus restrictions and a sharp economic downturn, AMC, the world’s largest theater chain , notified federal regulators on Tuesday (Oct. 20) that it plans to sell up to 15 million shares of Class A common stock.

Meeting 140

Meeting Capital Regulation Security 140

PYMNTS

OCTOBER 20, 2020

Yelp wants to help 10 adult children move out of their parents’ homes through a contest-style promotion, called Yelp Re-Empty the Nest, that offers $2,000 to help make it happen. The move comes as the number of such living arrangements have mushroomed during the pandemic. In a press release , Yelp points to a Pew Research Center report noting that a majority of young adults in the U.S. are living with their parents — the highest such level since the Great Depression.

Maine 130

Maine Regional Study Trends 130

PYMNTS

OCTOBER 19, 2020

Paya , the latest FinTech to the join the ranks of publicly-traded companies, made its market debut Monday (Oct. 19). Shares of the Atlanta-based payment processor had risen by nearly 10 percent to $12.50 on the Nasdaq Stock Market shortly before Wall Street's 4 p.m. ET close. The launch follows the vote Friday by shareholders of a special purpose acquisition company, FinTech Acquisition Corp.

Payments 266

Payments Atlanta Software Fintech 266

PYMNTS

OCTOBER 19, 2020

Snaps is teaming up with Instagram as the social media giant gears up for the holiday shopping season by sprucing up its commercial appeal to the major brands. New York-based Snaps announced on Monday (Oct. 19) that it has integrated Messenger API support for Instagram in its conversational automation platform. The addition will further enable brands to have one-on-one conversations with customers, ensuring that online shoppers “can get always-on, personalized and intelligent responses about pro

Branding 297

Branding social media New York Management 297

PYMNTS

OCTOBER 19, 2020

Brazilian bank accounts are being hit by a new malware, called Vizom by IBM, that makes use of familiar overlay attack tactics to hijack devices in real time, according to a report by ZDNet. Disguising itself as a commonly used video conferencing tool, Vizom spreads through phishing campaigns. Once it hits a Windows PC, the malware hijacks the AppData directory to force the loading of malicious DLLs.

Video 307

Video Regional America Software 307

PYMNTS

JULY 24, 2020

The eCommerce marketplaces have been a lifeline for businesses and consumers who want to transact under stay-at-home orders and while safely social distancing. These marketplaces need to have strong security approaches in place, however, to ensure they do not accidentally onboard any fraudulent sellers or let other scams be perpetrated across their platforms.

Compliance 152

Compliance Report Payments Security 152

PYMNTS

JULY 24, 2020

Well, now what? That’s the question all companies are asking as they internalize the impact of the shift to digital on their customers, their businesses and their future. The challenge — particularly for retail — is getting clarity around that “next normal” for businesses, PYMNTS CEO Karen Webster noted in a recent discussion with Brett Narlinger , head of global commerce at Blackhawk Network.

Retail 210

Retail Data Technology How To 210

PYMNTS

JULY 24, 2020

Synthetic identity fraud is costing companies heavily, with $14.7 billion lost to this type of crime in 2018 alone. This is a particularly subtle and nefarious kind of attack, in which bad actors create fake identities using real details stolen from different consumers. The result is a persona that often holds up against financial institutions’ (FIs’) traditional verification methods.

Fraud 183

Fraud Report Analysis Security 183

PYMNTS

JUNE 17, 2020

Online grocery shopping went to the moon from March to May, with PYMNTS’ Navigating COVID-19 series recording a 400 percent increase, equating to $6.6 billion in online spend. That sudden shift is favoring the giants, at least up to this point. PYMNTS’ June 2020 How We Eat Tracker notes that, “Amazon, Target and Walmart were already well-positioned to adapt to this new digital reality, as they all had robust mobile and online ordering operations long before the pandemic hit.

Dallas 131

Dallas Online Innovation Texas 131

PYMNTS

JUNE 17, 2020

Neiman Marcus Group has obtained U.S. court approval to get debtor-in-possession financing. The retailer said $250 million is available now and a further $150 million will be available as needed after Sept. 4, according to a statement. The purpose of this court action is to provide financing so that Neiman Marcus can open its stores again after the temporary, pandemic-related closings.

New York City 131

New York City Groups New York Retail 131

PYMNTS

JUNE 17, 2020

Walmart has teamed with Shopify to bolster its online marketplace presence. The retailer will add Shopify sellers to its marketplace and will especially aim to have small and medium-sized businesses (SMBs) join its eCommerce lineup. And livestreaming is popular in China, while all signs show that major online shopping firms there will keep on a path to expansion.

Retail 141

Retail Online Data 141

PYMNTS

JUNE 17, 2020

The dramatic consumer shift to Digital 3.0 — predicted months ago by the PYMNTS COVID-19 tracker work — is accounting for almost half of the retail growth in the US. That’s the key finding from a new report from Deloitte, whose data is actually lacking the May sales spike of 17 percent. It found that eCommerce growth as of May 1 was up 68 percent, surpassing 40 percent of total retail sales.

Retail 231

Retail Online Course Report 231

PYMNTS

JUNE 17, 2020

In the United Kingdom, and for the payment network giants in the decades-long legal battle over interchange fees — next stop, trial court? Wednesday, the highest court in the U.K. upheld a 2018 ruling by a lower court, the Court of Appeal, that payments firms Visa and Mastercard had restricted competition for retailers by levying fees on transactions, known as multilateral interchange fees (MIF).

Cards 150

Cards Retail Regional Marketing 150

PYMNTS

JUNE 17, 2020

The U.S. Air Force has granted blockchain firm SIMBA Chain a $1.5 million check to help create a new blockchain for supply logistics in the next two years, according to Coindesk.com. The South Bend, Indiana-based company will now also be partnering with Boeing as it moves into the next phase of its research in investigating blockchain’s potential for military supply value.

blockchain 132

blockchain Fraud Indiana Bitcoin 132

PYMNTS

JUNE 16, 2020

Beginning March 23 and tracking more than 14,000 U.S. consumers to date to assess changes in attitudes and activities during the pandemic, PYMNTS’ latest installment in our Navigating The COVID-19 Pandemic series, The Great Reopening: Shifting Preferences , shows that more people want to head outdoors, back to work and life writ large, despite lingering disease fears.

Survey 140

Survey Study Groups Online 140

PYMNTS

JUNE 16, 2020

U.S. retail and food services sales rebounded in May from April amid the pandemic, but they were still under levels seen in May of 2019, according to the latest U.S. Census Bureau advance monthly sales numbers. The agency estimated advance monthly sales for May of $485.5 billion, which marked a 17.7 percent jump from April of this year but 6.1 percent under May of 2019.

Retail 132

Retail Operations Data Meeting 132

PYMNTS

JUNE 16, 2020

The gig work revolution was well underway when the pandemic struck. And like so many things, developments that were moving at a leisurely pace, it suddenly needed velocity. That’s true in terms of getting gig work solutions to market, and as a core characteristic of those solutions. Add accuracy and security to velocity and it makes a kind of “rule of threes” for the payments space today.

Payments 168

Payments System Tools Operations 168

PYMNTS

JUNE 16, 2020

As a next step in the direction of a digital-first, omnichannel experience, David’s Bridal is teaming with mobile wallet marketing automation platform Popwallet. The bridal and special occasion brand will have the ability to engage directly with shoppers in a “personalized, innovative, and dynamic” fashion via mobile wallets such as Google Pay and Apple Wallet with the partnership, according to an announcement.

Mobile 169

Mobile Marketing Marketing Automation Customer Experience 169

PYMNTS

JUNE 16, 2020

JCPenney may have a suitor. Reports circulating Tuesday (June 16) have Authentic Brands teaming with mall landlords Simon Property Group and Brookfield Properties teaming up to purchase the troubled retailer, which filed for bankruptcy on May 15. JCP has until July 14 to file a bankruptcy exit plan, and this deal could be the bailout it’s looking for.

Branding 196

Branding Retail Groups Report 196

PYMNTS

JUNE 16, 2020

Retailers are aiming to play catch-up with shoppers by moving resources from brick-and-mortar and stacking them against digital technology and abilities. In eCommerce, Adobe ’s Digital Economy Index for May indicates that holiday season spending levels are occurring with a mobile commerce emphasis. And “ webrooming ,” the practice of consumers using websites to comparison shop for physical retail, is coming for an encore.

United States 130

United States Comparison Resources Retail 130

PYMNTS

MAY 7, 2020

On the surface, it might look like Uber is heading off in two different directions as it readies for its earnings announcement slated for tonight (May 7). On one hand, Uber announced today that it is “leading” a $170 million investment in Lime, which rents out electric scooters, electric bicycles and traditional bicycles, which seems to show that Uber is forging ahead, business somewhat as usual.

Report 130

Report Company 130

PYMNTS

MAY 7, 2020

The U.S. Department of Commerce (DoC) is on the verge of green-lighting a collaboration with Huawei Technologies in China to cooperatively develop 5G standards, according to a May 7 (Thursday) Reuters report that cited sources knowledgeable about the matter. Collaboration between Huawei and technology companies in the U.S. ceased after the Bureau of Industry and Security (BIS) of the DoC put the Chinese tech firm and 68 of its non-U.S. affiliates on the Entity List in May 2019.

US 181

US Policies National Security 181

PYMNTS

MAY 7, 2020

They’re reopening – but they’re dead. Or they’re fading. Or they’re awaiting a renaissance. The characterization of the future of the American mall cuts across many opinions and datasets, but the fact remains that in many cases, it is a fixture of brick-and-mortar retail. As the department stores that once profitably anchored them are now declining, malls need a reality check.

Retail 175

Retail Georgia Atlanta Examples 175

PYMNTS

MAY 7, 2020

The coronavirus had a strong impact on Disney for the first three months of this year, with falling overall revenue that largely stemmed from its closed theme parks. The pandemic also hit other parts of the firm’s media empire, including its movie segment. And in retail, Nordstrom and Lord & Taylor are dampening the industry’s reopening plans.

Retail 131

Retail Data Management Report 131

PYMNTS

MAY 7, 2020

Any $1,200 COVID-19 stimulus checks sent to dead people by the Internal Revenue Service (IRS) must be returned, the agency says. Although officials have given conflicting guidance since word emerged that some dead Americans received the money, the IRS has added the following FAQ to its Economic Impact Payment Information Center web page: “Payment made to someone who died before receipt of the payment should be returned to the IRS.

Taxes 160

Taxes Payments Security 160

PYMNTS

MAY 7, 2020

One week. That’s how much time Paycheck Protection Program (PPP) loan recipients have to return their loan if they can’t meet the updated rules from the U.S. Treasury Department. On April 23, Treasury provided the latest guidance for the Small Business Administration (SBA) PPP initiative crafted to shore up small and medium-sized businesses (SMBs) amid the COVID-19 pandemic.

Meeting 198

Meeting Massachusetts Regulation Maine 198

PYMNTS

MAY 7, 2020

Amid the global COVID-19 pandemic and staggering unemployment rates , Israel-based freelance platform Fiverr International posted big gains in the first quarter of 2020, with a 44 percent increase in revenue year over year to reach $34.2 million. Founded in 2010 in Tel Aviv, Fiverr aims to change “how the world works together” by connecting freelancers looking for work with companies seeking people with particular skill sets.

Online 140

Online Community Company Industry 140