Indian ecommerce to reach USD 230 bln by 2028

The Paypers

(The Paypers) The Indian ecommerce market size is expected to reach USD 230 billion by 2028, according to an E-commerce Council of India (TECI) and ChannelPlay report

Do piggy bank apps help or hurt U.K. financial literacy?

Payments Source

Finance predicting that by 2028, just 9% of payments will be in cash — even pocket money is going digital. As the U.K. rapidly transitions towards a cashless society — with U.K. And the disappearance of tactile interaction with cash changes how kids learn about budgeting. Mobile wallets Mobile payments Digital payments Cash Financial literacy U.K.

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Providing Rideshare Drivers, Tour Guides With Innovative Payments

PYMNTS

50 percent: Share of the American workforce that will be made up of gig workers by 2028. Gig workers drive passengers with ridesharing services or conduct tours, comprising a growing segment of workers. Many of their payments, however, are sent through slow or complicated methods. Paper checks are still popular with firms that pay freelancers, even though workers want faster digital payments.

Alibaba Is More Interested In Partnerships Than Acquisitions

PYMNTS

And will hold that position for some time — since the deal runs through 2028 and will give Alibaba a crack at the next three Asian Olympic games (South Korea in 2018, Japan in 2020 and China in 2022). While Alibaba wouldn’t say how much the sponsorship cost, the Financial Times has estimated it may be as much as $600M for the lifetime of the deal — which would break down to $100M paid by Alibaba per every Olympic meeting through 2028.

Alibaba Has Big Plans For Olympic Tech

PYMNTS

The sponsorship deal runs for 12 years, started in 2017 and runs through the 2028 Olympic Games in Los Angeles. “We Chinese tech giant Alibaba has an Olympic sponsorship deal that’s worth hundreds of millions of dollars, and the company said it plans to use its technology to change and improve the way the Olympics operate, according to a report by the Associated Press. The company wants to bring its technological know-how to not only organizers and fans, but broadcasters as well.

FinTech Innovation Eases B2C Sellers’ Entrance Into The B2B World

PYMNTS

According to Goldman Sachs, the B2B payments space will see volumes topping nearly $200 trillion by 2028, more than five times the volume of B2C payment flows.

Forever 21 Files For Bankruptcy; Plans To Exit Asia, Europe

PYMNTS

is expected to reach $64 billion by 2028, according to the retail analytics firm GlobalData , CNBC reported. Fast-fashion chain Forever 21 has filed for Chapter 11 bankruptcy protection. The company said it will close a large number of physical stores worldwide, CNBC reported on Sunday (Sept. The filing will allow the retailer to continue operating while it attempts to reorganize the business and return to profitability. Forever 21 plans to close up to 178 stores in the U.S.,

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PayPal’s Xoom Makes Remittance Deal With Euronet’s Ria

PYMNTS

through 2028. PayPal has increased its foothold in Eastern Europe and Africa, and has boosted its presence in the global remittance market, through a new partnership agreement. Its Xoom service has signed a deal with Euronet Worldwide subsidiary Ria , which will offer Xoom customers cash pickup services “at more than 150,000 of Ria’s international network locations,” according to a statement. Ria’s network includes approximately 355,000 global agents.

SoFi Signs Deal For LA Stadium Naming Rights

PYMNTS

It will host year-round events, including Super Bowl LVI in 2022, the College Football National Championship game in 2023, and the Opening and Closing Ceremonies of the 2028 Olympic Games. “We’re SoFi has announced that it has signed a 20-year agreement with LA Stadium and Entertainment District at Hollywood Park to be the exclusive naming rights partner of the new SoFi Stadium, the future home of the Los Angeles Chargers and the Los Angeles Rams.

Democrats Propose Tax On Stocks, Bond, Derivative Deals

PYMNTS

The tax, according to Joint Committee on Taxation staff estimates, could cause revenues to rise by $777 billion over a period spanning from 2019 to 2028. In a move that could negatively impact high-frequency traders, Democrats are bringing forward a plan to tax stock, derivative and bond deals. Peter DeFazio (D-OR) is spearheading the “Wall Street Tax Act of 2019” bill, with U.S. Alexandria Ocasio-Cortez (D-NY) as its lead co-sponsor, CNBC reported.

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Matching Digital Security To Digital Services

PYMNTS

40 percent: Share of all packages ordered online expected to be delivered within two hours by 2028. Consumers are leading lives that are increasingly digitally mediated, particularly as their commerce lives are increasingly defined by multichannel interactions. There are a lot of opportunities in there — digitization and urbanization will make smart cities , making the realm of science fiction a reality.

The Gig Economy Gets Ready To Scale

PYMNTS

workforce is expected to freelance by 2028.”. In the historical novel “Ivanhoe” (1819), Sir Walter Scott wrote of “free lances” to describe an army of professional soldiers for hire. The word “gig” as we know it entered the lexicon in the 20 th century, thanks to musicians who moved from one performance (gig) to another, often filling in for others. The gig economy is set to expand and take on new importance as the nation and world recover from COVID-19.

Study Finds Trucking Company Bankruptcies Increased In 1H 2019

PYMNTS

The shortage could top 100,000 drivers in five years and 160,000 drivers in 2028. To quote the Grateful Dead and their song “Truckin’” — an apt choice for this topic — “What a long strange trip it’s been.”. While a significant number of trucking companies have gone out of business, there are trucking shortages and rising wages.

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The Gig Economy Grows Up

PYMNTS

Skip ahead again to 2028, when, by the best estimates, gig workers will make up more than half of the entire U.S. Less than 20 years ago, freelancers were still a workforce oddity. They came and went kind of invisibly, taking on overflow work from full-time staffers, floating between different companies and assignments. Even taxi driving was a full-time profession, back when freelancers were rare.

Funding Round Could Give AvidXchange $2B Valuation

PYMNTS

percent through 2028, according to Boston Consulting Group. Automated business payments processing firm AvidXchange is launching a new fundraising round that could give the firm a $2 billion valuation, The New York Times reported on Monday (Dec. 9), citing sources. This latest fundraising could top $300 million. AvidXchange previously raised $300 million in 2017 at a $1.4 billion valuation led by PayPal Co-founder Peter Thiel and Mastercard.

Flywire Raises $120M, Acquires Simplee Healthcare Tech Startup

PYMNTS

trillion industry by 2028, according to Boston Consulting Group. Vertical payments startup Flywire has acquired healthcare technology startup Simplee , while also closing a $120 million Series E investment round led by Goldman Sachs, the company announced on Thursday (Feb. Flywire will use the investment to optimize and scale digital payment services across its core sectors, including healthcare, education and travel.

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Fostering Payments Trust In A Global Freelance Economy

PYMNTS

talent pool by 2028. Before the pandemic hit, the global freelancing economy was expected to experience significant proliferation. Today, while shutdowns have led many businesses to temporarily halt non-essential spending, many in the market actually expect the expansion of the freelancing community to accelerate as a result of market volatility.

Countingup Teams With Hokodo; Boost And Shell Malaysia Unveil eWallet Payments

PYMNTS

And the offering comes as it was noted in the report that Southeast Asia’s outbound tourism is forecast to reach $115 billion by 2028. Welcome to The Axis, your late look at payments news from around the world. Coverage includes the unveiling of an eWallet payment service with Boost and Shell Malaysia. In addition, Countingup is teaming up with insurance solutions provider Hokodo in the U.K. ,

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PayPal Closes On Its Deal With Synchrony

PYMNTS

through 2028. PayPal announced Tuesday (July 3) the closing of its deal with Synchrony , in which it acquired $7.6 billion in receivables from PayPal. In a press release, PayPal said the receivables include PayPal’s U.S. consumer credit receivables portfolio, which totaled $6.8 billion at the time of closing, and approximately $0.8 billion in participation interests in receivables held by unaffiliated third parties. PayPal received approximately $6.9

How FashionPass Is Innovating Clothing Rentals

PYMNTS

billion by 2028 and millennial women are leading the charge, according to Brittany Johnson, CEO and co-founder of online subscription-based clothing service FashionPass. “It’s Clothing is expensive and trends are quick to change, making fashion rental platforms especially appealing for consumers who want more choice, convenience and flexibility. The clothing rental market in the United States is projected to reach $4.4

Alibaba Scores Olympic Sponsorship Deal

PYMNTS

The deal means Alibaba will act as an Olympic sponsor through the 2028 Games in a location that has yet to be determined (though the rumor mill points to Buenos Aires, Argentina as one of the more likely candidates). Alibaba is certainly recovering after being blacklisted on the notorious marketplaces list by the USTR back in December. The Chinese eCommerce giant Alibaba Group has doubly cracked down on fakes and formed an anti-counterfeiting alliance in recent weeks.

Amazon HQ2 Posts First Jobs

PYMNTS

It will ultimately reach 25,000 by 2028. Amazon posted two job openings mentioning its HQ2 office in New York City. Both positions — posted within the last few days — are for engineering jobs for Intelligent Cloud Control (ICC), which helps connect the company’s properties, including Kindle, Amazon Video and Alexa. There are plans to hire 50 people for the ICC team in New York this year, with the current listings looking for a front-end engineer and a software development manager.

 Manufacturing, Big Tech And Valuations Among Davos Day One Focus

PYMNTS

During one presentation, as reported by Bloomberg , Nokia Oyj CEO Rajeev Suri said there will be “massive productivity growth” that could top 35 percent beginning in 2028. The first day of Davos — the annual meeting of the World Economic Forum held in Switzerland — featured panels and commentary about business and economics, as has been customary.

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How kimkim Uses Faster Payments To Win Gig Worker Loyalty

PYMNTS

Gig workers will make up a full half of the American workforce by 2028, responsible for creating online content, designing webpages and conducting local food or historical tours, as well as ferrying passengers for rideshares or renting out their homes on homesharing platforms.

FinServ Starts To Draw The Line Between Freelancer And Small Business

PYMNTS

workforce by 2028, and already 16 million individuals are participating in the gig economy. Small business owners have historically faced a unique challenge in the banking world: Financial institutions (FIs) can sometimes fail to clearly define their small business services, blurring the lines between personal and corporate banking and forcing an SMB to fit somewhere within that ambiguity.

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Blockchain Believers Remain Bullish On B2B Payments Disruption: PayPie

PYMNTS

Dun & Bradstreet recently released a survey that found only about one-quarter of finance executives believe blockchain will emerge as the dominant B2B payments technology by 2028; instead, professionals believe online payments and eChecks will lead the way. As the peaks and valleys of blockchain hype continue to rise and fall, more doubt has surfaced over the future of distributed ledger technology, particularly in the area of B2B payments.

Customer Service Can Be A Competitive Advantage For Digital Platforms

PYMNTS

billion by 2028. The crux of the Payments and The Platform Economy Playbook is that with 162 million workers in the U.S. and Europe currently involved with the gig economy, projected to be serving 86.5 million consumers by 2021, sharing economy platforms can’t just meet customers’ needs – they also have to anticipate them. Additionally, customer service is becoming a differentiator among digital platforms.

Deep Dive: How Outdated Marketplace Payments Lead To Freelancer Desertion

PYMNTS

professionals by 2028. Gig economy participants make up greater portions of the U.S. and global workforce each year, and are set to represent more than half of all U.S. These workers are responsible for many of the instant services today’s consumers have come to expect, such as rideshares , home rentals or even graphic design work. Payouts for these offerings have not reached the same level of speed and convenience that gig employees are expected to provide, however.

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Making Men’s Skincare Mindful 

PYMNTS

percent CAGR is considered one of the more conservative estimates — more aggressive forecasts put that figure north of $200 million by 2027 to 2028. That the global skincare market is a large and growing concern is no secret. By some estimates, its total global value will be pushing $187 billion by the year 2027, up from the approximately $123 billion it was worth in 2018. And that 4.37

Retail Pulse: Amazon Grows 4-Star Footprint; Forever 21 Files For Bankruptcy

PYMNTS

is expected to reach $64 billion by 2028, per GlobalData. Online retailers are expanding their brick-and-mortar footprints – and using feedback from eCommerce customers to inform the selections in their new stores. Amazon , in one case, has added a suburban Boston location to its roster of Amazon 4-star stores, marking the fifth location of its type in the United States. The Natick Mall store carries products that are top sellers or new and trending on Amazon’s website.

The Changing Omnichannel Expectations Of Consumers

PYMNTS

Four in ten — or 40 percent — of online purchases are predicted to be delivered within two hours by 2028. Traditional brick-and-mortar retailers are rolling out omnichannel options. To that end, Home Depot has been installing lockers in many of its locations to allow customers who place online orders to easily pick up their merchandise at the store.

Wells Fargo Fallout, New Amazon Payments Top Week’s News

PYMNTS

Gig workers will make up a full half of the American workforce by 2028 , responsible for creating online content, designing webpages and conducting local food or historical tours, as well as ferrying passengers for rideshares or renting out their homes on homesharing platforms. It’s that time again — the weekend! But before you really sink into your fun and relaxation, allow the latest edition of the PYMNTS Weekender to catch you up on the all the big news from the past seven days.

Can Google Fight Off Amazon And Facebook In Online Ad Race?

PYMNTS

According to PYMNTS coverage, analysts have estimated the value of Amazon’s ad business , in revenue, to be between $5 billion and $18 billion (or more) today, while others say it could be worth as much as $50 billion by 2028. Google appears to be losing steam in the ongoing race to dominate the online advertising market, and competitors Amazon and Facebook are taking advantage of the stumbles.

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Commerce Department Tightens Reins On Huawei

PYMNTS

In effect, the rule will put an end to Huawei’s mobile networks in the country by 2028. The U.S. Department of Commerce (DOC) has doubled down its prohibition against Huawei Technologies Co.’s s purchase of technology and software from U.S companies, alleging it undermines the nation’s security and foreign policy interests. Today, we dealt a direct blow to Huawei and the repressive Chinese Communist Party by further limiting Huawei’s ability to acquire U.S.

What does the future hold for banking?

NCR

Going on current trends we would expect ATM installations to be at around 5 million across the globe, by 2028. Recently the question of ‘what does the future of banking look like?’ was posed to my colleagues and me. Not in 30 or 40 years, but just 10 years from now. We all individually had a go at what we thought the world would look like in general, how consumers would bank, and how NCR could take advantage of these future trends.

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