Banking 2020

JANUARY 15, 2015

The retail banking industry has seen major changes occurring in the industry over the last few years with the adoption of mobile banking, the rise to prominence of the millennial demographic, narrowing margins, stagnant top line revenues, the future of the branch and continued regulatory changes. Digital Banking. Cyber vulnerabilities.

Retail 40

Retail Trends Millennials Mobile 40

PYMNTS

MAY 11, 2018

That’s one of the driving ideas behind a new service that Marriott International recently launched for Chinese travelers going overseas — a service that also helps to demonstrate how the country’s growing tourist class is changing payments and retail. Last year, the U.S.-based Marriott began working with Fliggy in August 2017.

Retail 129

Retail Payments social media Mobile 129

PYMNTS

MAY 4, 2017

Brazil and Mexico — the total amount in cash payments for the region was $3 trillion in 2015, with weighted average cash use at 14 percent of GDP, with an estimated increase, annually, of 4 percent through 2020 in absolute dollars but a decline in percentage of GDP by 1.2 Turning to the Americas — defined as the U.S., do not accept cash.

ATM 192

ATM Millennials United States Study 192

PYMNTS

SEPTEMBER 23, 2016

Americans are carrying more debt than ever before and paying some of the highest credit card rates every recorded, according to new data. The national average annual percentage rate (APR) for credit card debt is 15.22 percent, according to CreditCards.com’s weekly Credit Card Rate Report. Credit card balances rose 3.4

Cards 100

Cards Report National Millennials 100

PYMNTS

JUNE 25, 2018

I’ve been writing about the impact Amazon would have on the consumer’s grocery shopping journey and disruption to the grocery segment since Amazon introduced Dash buttons in March of 2015. For the Bridge Millennials — those aged 30 to 40 years old who are the first generation of connected consumer with spending power — they barely register.

Retail 156

Retail Branding Millennials Online 156

PYMNTS

NOVEMBER 24, 2017

In the retail world, one pachyderm has been learning to dance in all manner of ways, displaying the chops to tango, watusi and foxtrot as situations demand. But, other numbers matter in the retail world, and here is where there is steak with the sizzle. Small, but smart : Dollar Tree shows smaller can be better in retail.

Retail 128

Retail Mobile Strategy Digital Strategies 128

PYMNTS

NOVEMBER 11, 2016

On the one hand, they’re using a relatively low-cost, unattended distribution method combined with even lower-cost word-of-mouth marketing, and the other hand, it’s one that’s associated with short-term, exclusive retail. It’s not just millennials and post-millennials using a free service any longer.

Millennials 143

Millennials Video Retail Regional 143

PYMNTS

MARCH 5, 2017

Americans have more payment options than ever before, from the digital payment info stored in mobile wallets to credit and debit cards in their physical wallets. percent in 2015. The report found that 32 percent of transactions used cash in 2015 and that demand for cash remains strong in the United States.

Technology 100

Technology San Francisco Analysis United States 100

PYMNTS

MARCH 1, 2017

Klarna announced its partnership with online mattress retailer GhostBed to integrate an instant financing solution into the merchant’s existing checkout system. GhostBed customers are now presented with two Klarna financing options at checkout along with the ability to purchase using their existing credit or debit card.

Customer Experience 100

Customer Experience Millennials Branding Cards 100

Chris Skinner

FEBRUARY 3, 2017

As Antony Jenkins, former CEO of Barclays, aptly put it in a 2015 speech: “Over the next 10 years, we will see a number of very significant disruptions in financial services, let’s call them Uber moments” … Some analysts believe Fintech disruption could take as much as 10% to 40% of bank revenue and eliminate 1.7

Innovation 150

Innovation Millennials ATM Data 150

PYMNTS

DECEMBER 21, 2020

And you can see it in the hustle by retailers and brands large and small to pivot their businesses and business models — and the disclaimers on just about every retail site starting a week or more ago that orders placed online might not make it in time for Christmas. percent of all retail sales. consumers — 47.2 Share of U.S.

Apple 227

Apple Study Innovation Survey 227

PYMNTS

MAY 28, 2019

The company integrated GO-PAY into the GO-JEK app, which lets customers store money on their mobile phones, much like a digital debit card. billion – of funds were lost to card fraud in 2018, up from $1.4 Smartphones contributed one trillion dollars to overall retail sales in the United States during 2018. billion in 2017.

Apple 159

Apple Mobile Fraud Branding 159

PYMNTS

JULY 25, 2019

Consumers may still champion cash as their preferred method of payment, but its use declined 3 percent as measured between 2015 and 2018. Other options, such as credit cards and payment apps like Venmo , are increasingly gaining traction. That’s especially true among younger users such as millennials.

Payments 189

Payments Innovation Examples FDIC 189

PYMNTS

NOVEMBER 30, 2017

Initially, when contactless payments were introduced, consumers used them in place of traditional debit or credit cards rather than cash, Cleland said. Alternate payments methods might be gaining popularity among millennials in the U.K., percent increase over 2015, Cleland said. Where cash is headed. As of 2016, some 3.7

ATM 165

ATM Payments Analysis Cards 165

PYMNTS

OCTOBER 20, 2020

Apple had already more or less created the modern smartphone industry with the iPhone and remade the music industry with the iPod – so it didn’t seem too much of a stretch to believe that if Apple wanted to disrupt the plastic card, it could fall out of favor for in-store purchases. percent in 2015. percent of retail sales.

Apple 133

Apple Payments Study Mobile 133

PYMNTS

FEBRUARY 6, 2018

As a result, the once-pioneering grocer entered the second tier of retailers. Years later, of course, the defunct retailer filed for bankruptcy for the second time in five years in 2015 — before disappearing from the American retail landscape. It becomes a competitive advantage.”. Boxed’s sales have been growing.

New Jersey 100

New Jersey Las Vegas Retail Dallas 100

Independent Banker

AUGUST 9, 2016

According to the 2015 Colloquy Customer Loyalty Census, the average American household maintains memberships in 29 loyalty programs (1). Statistics are especially compelling for those trying to attract and maintain the millennial segment. Customer Loyalty Program Memberships Top 3 Billion For First Time, 2015 COLLOQUY Census Shows.

Community 70

Community Millennials Community Bank America 70

PYMNTS

NOVEMBER 29, 2016

From shopping on fingertips to banking on the go, changing consumer demands are pushing banking and retail industry to undergo a rapid digital transformation. Yet, the need for access to brick-and-mortar banks and retail store locations remains strong. In just North America and Europe, the credit card market is projected to grow by 7.3

Report 100

Report Millennials America Study 100

PYMNTS

SEPTEMBER 14, 2016

Here are some of the other big winners and losers of the retail game at the moment. And 2015 was a good year for the middle class, as median household income rose to $56,516, a 5.2 Millennials don’t seem to be feeling Banana Republic any longer, according to a study by RBC Capital Markets. Is Amazon coming to a mall near you?

Los Angeles 100

Los Angeles Apple Millennials Retail 100

PYMNTS

AUGUST 26, 2016

has refused to support Apple Pay and instead rolled out its own app, Walmart Pay, for use with iOS and Android in December 2015. According to AppleInsider , although some retailers have announced plans for Apple Pay in the past, some still have not supported Apple Pay; Anthropologie and Forever 21 are two examples. .:

Apple 100

Apple social media Retail Strategy 100

PYMNTS

SEPTEMBER 30, 2019

Online resale has become all the rage — even for retailers like Neiman Marcus — from a little bit of everything on OfferUp to fashion-focused Poshmark and high-end The RealReal and 1stdibs. Millennials and Gen Z are driving the growth of the secondhand market and eCommerce, generally. Online Resale.

Online 101

Online Fraud Branding social media 101

PYMNTS

OCTOBER 20, 2016

That figure is down by 7 percent since 2015. Payments providers need to bring the traditional card to life and create a real-time interactive experience for consumers.”. consumers trust traditional card providers the most, followed by providers like PayPal, banks and established tech companies. Three-quarters of U.S.

Apple 100

Apple Mobile America Payments 100

Independent Banker

NOVEMBER 25, 2015

“We are going to have to lean into this digitized world, so that we can continue to serve our customers well into the 21st century,” ICBA President and CEO Cam Fine told the 24th World Congress of Savings and Retail Banks in Washington, D.C., See “Closing the Gap” in the November 2015 issue, online at www.independentbanker.org.).

Community Bank 70

Community Bank Community Analytics Lending 70

PYMNTS

JULY 13, 2016

Brick-and-mortar retail will forever remember the day that Nintendo released Pokémon GO , a mobile game that has caused millions of millennials to suddenly discover outside again. However, some retailers prefer to play cards of the kind as close to the corporate chest as possible. billion acquisition of Home Retail Group.

California 100

California St. Louis Retail Branding 100

PYMNTS

APRIL 27, 2016

adults still prefer to use cash for purchases under $5, while 22 percent use debit cards and 11 percent use credit cards. Which age group is most likely to use a credit card for these small transactions? That would be millennials, ages 18–29, with 64 percent saying they prefer to use cards even for transactions under $5.

Taxes 100

Taxes Colorado Alaska Cards 100

PYMNTS

APRIL 22, 2016

Particularly favored as a potential marriage that makes sense is a pairing of Acorns with Venmo, since they share a target audience of millennials with a mobile-friendly outlook. And with millennials as its targeted audience, there’s still room for mighty oaks to grow. Card-on-file was the most common “other” in this category.

San Jose 100

San Jose Mobile Retail Survey 100

CB Insights

SEPTEMBER 10, 2019

While the media often portrays millennials as preoccupied with the rising prices of festival tickets and avocado toast, their real financial concerns are a bit more practical. But millennials face significant headwinds in making those financial dreams a reality. get the REPORT on next generation investors. From big banks to big tech.

Millennials 77

Millennials Mobile Lending Cards 77

PYMNTS

APRIL 17, 2017

Not because he didn’t have a buyer, but because his buyer didn’t have that much cash— and McKelvey didn’t take credit cards. After many fits and starts, Square pushed into an IPO in late 2015. Cash Pro is the SMB version of Square Cash and does enable bank-to-bank transfers (in addition to debit card transactions) for a 1.5

Apple 110

Apple Capital Cards Payments 110

NCR

FEBRUARY 17, 2017

That includes growth areas like mobile banking, of course, but also covers traditional cornerstones of retail banking like the ATM. In the rush to serve the tech-savvy millennial market and keep up with the latest developments in mobile and digital banking, some FIs might fall into the trap of overlooking traditional channels.

ATM 85

ATM Mobile Strategy Fraud 85

Fintech Labs Insights

JANUARY 8, 2016

2015 was quite a year for the 800+ Finovate alumni. Here are the highlights from the 2015 Best of Show winners: FinovateEurope 2015. October: Named FinTech Forward 2015 Company to Watch. mBank & i3D : demoed their interactive, digital retail-branch concept. FinovateSpring 2015. FinovateFall 2015.

Innovation 12

Innovation Mobile Fintech Cards 12

NCR

MARCH 29, 2017

When it comes to planning strategy and investment across retail banking channels, financial institutions (FIs) should acknowledge that, for younger consumers and millennials in particular, cash still has an extremely important part to play. Wide-range appeal. It could also be that they simply value the convenience of cash.

Security 40

Security San Francisco ATM Payments 40

PYMNTS

OCTOBER 21, 2016

Unlike supermarkets and retail stores, landlords didn’t see the value in accepting digital payments. “A A property manager isn’t going to rent a three-bedroom apartment versus a two-bedroom apartment simply because they accept credit cards,” Villante told Karen Webster. Then, accepting credit cards was pricey.

Software 100

Software Payments Management Cards 100

Gonzobanker

DECEMBER 22, 2015

Well, what do we say about 2015? And, give or take a stumble or two, we snuck through it and did a reasonable job on 2015 objectives, in our humble opinion. So, it seems we’re good with only one outstanding item—digest the 2015 GonzoBanker Awards! 2015 Executive Call-out. ” – Tom Armstrong. And the winners are ….

Community Bank 60

Community Bank Apple Community Technology 60

PYMNTS

SEPTEMBER 6, 2016

Payments had been relatively static with innovation around cash, checks and credit cards. Of course, it’s not just the FinTech industry and tech-savvy millennials who are fueling digital change. Telcos and retailers weren’t far down the list. Then, there was sudden exponential growth in innovation.

Security 100

Security CA Payments Big Data 100

PYMNTS

JULY 11, 2016

Thirteen years later, in 2016, American consumers now spend 46 minutes a day shopping, with women dedicating about 35 percent more of their day to retail pursuits than their male counterparts. Fifty percent of retail spend happened there. Thirteen years later, smartphones make shopping an on the go/anytime/anywhere experience.

Google 100

Google Mobile Apple Online 100

William Mills

MAY 11, 2016

Credit cards offer rewards but over 60% of payments are made on debit cards. Portfolio outlooks, recommendation.Provide retail and advisory users the insight they need with Polly Portfolio. If you have a large retail investor base, and no resources to interact with them, then perhaps there some value? ^SR.

Video 40

Video Mobile social media Analytics 40

PYMNTS

AUGUST 6, 2018

In 2015, Grubhub extended its model and stepped into the delivery business, first through the acquisitions of local platforms that both enabled online ordering and offered delivery services and later through the expansion of their own delivery capabilities — recruiting drivers and building out tools to support the delivery side of their business.

Online 125

Online Branding Mobile Millennials 125