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Security Demands Spur Virtual Debit Card Adoption

PYMNTS

More consumers than ever are turning to online shopping channels to meet their needs during the pandemic, but many are also aware that cybercriminals are looking to capitalize on this stepped-up online activity to steal their card data. Firms are also prioritizing security as they transact online more heavily as well.

Cards 197
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Bed Bath & Beyond Bolsters Liquidity With $850M Credit Facility

PYMNTS

has put into place a three-year secured asset-based revolving credit facility with a group of financial institutions (FIs). It has put most of its store workers and a share of its corporate staffers on leave, has halted plans for share repurchases and has tightly managed expenses, capital expenditures and working capital, among other steps.

Retail 141
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Goldman Gets Green Light To Operate Bank In South Africa

PYMNTS

Goldman’s expanded move into South Africa coincides with the scaling down of other brokerages, including Macquarie Group, Arqaam Capital, Deutsche Bank and Credit Suisse Group. Africa’s eCommerce volume is expected to reach $75 billion by 2025, and economic output in FinTech is anticipated to add $150 billion by 2022 to its GDP.

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Kohl?s Leans Into Digital During Pandemic Store Closures

PYMNTS

As it worked to address the pandemic, Kohl’s said it cut its planned capital expenditures by about $500 million and sizably decreased expenses throughout the business. The company issued $600 million in notes due 2025, replaced as well as upsized its revolver to a $1.5

Retail 235
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Goldman Joins South Africa’s Johannesburg Stock Exchange

PYMNTS

Goldman’s expanded move into South Africa coincides with the scaling down of other brokerages, including Macquarie Group, Arqaam Capital, Deutsche Bank and Credit Suisse Group. Africa’s eCommerce volume is expected to reach $75 billion by 2025, and economic output in FinTech is anticipated to add $150 billion by 2022 to its GDP.

Capital 131
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Hosted vs. On-Premise Solutions for Financial Institutions

Abrigo

Financial institutions generally are moving away from self-managed, on-premise technology and are finding hosted solutions that provide the security and scalability they need. But research firm Gartner estimates that through 2025, 99% of cloud security failures will be the customer’s fault.

Resources 150
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Stripe Strides Into Singapore

PYMNTS

The business is backed by Sequoia Capital and PayPal founders Peter Thiel and Elon Musk. billion by 2025, which is five times what it’s currently clipping at. billion by 2025, which is five times what it’s currently clipping at. Singapore’s eCommerce market, according to analysts, is projected to increase to $5.4