PYMNTS

Big Or Small, Pharmacy Success Often Equates To Offering Convenience

PYMNTS

In the pharmacy business, convenience is often seen as the key to success. Industry giants like CVS Health, Walgreens and Express Scripts, Inc. have become household names, enabling more than 50 percent of prescription drug sales in the U.S.

Online 219

Walmart Wins Three Blockchain-Related Patents

PYMNTS

Walmart has been awarded three patents for blockchain-backed technology, according to a report Monday (June 18) in Cryptovest. One of the patents covers a system that would let households manage their electricity bills through cryptocurrency, and would be operated with a public blockchain. Currently, energy providers deliver energy to locations that inefficiently use the energy, which leads to increased energy costs for consumers,” the Walmart patent filing said.

TRENDING: Why Cops Aren’t Well Served By Traditional FIs

PYMNTS

From planning for a worst-case scenario in the line of duty to buying new uniforms, law enforcement officers face financial stresses that aren’t always well-served by the typical civilian-focused bank. And with approximately 900,000 sworn officers active in the U.S.

Trends 158

Facebook Brings Subscription Service To Groups

PYMNTS

Facebook announced that it is testing out subscriptions with a small number of groups to support group admins who lead the communities. Group admins build safe and supportive communities that people come back to every day,” wrote Alex Deve, Product Director, Groups, at Facebook. “We We know that admins invest their time and energy to maintain their groups, and some have told us that they would like tools to help them continue to invest in their community and offer more to members.”.

Groups 156

TRENDING: Turning Office Fridges Into Vending Machines

PYMNTS

Smart vending machines and self-service kiosks are becoming a sure sign of restaurant innovation – and, if recent developments are any indication, the space is undergoing a veritable unattended retail revolution.

Trends 169

TRENDING: An Inside Look At Applebee’s Mobile Order Ahead Strategy

PYMNTS

From QSRs to casual dining operations, restaurants are tapping into mobile ordering to capture busy customers with no time to dine in.

Square Gets License From New York To Enable Bitcoin Trading

PYMNTS

Square , the payments company founded by Jack Dorsey, has received a license to enable residents in New York state to buy and sell bitcoin via its Cash App. In a press release , the New York State Department of Financial Services Superintendent Maria T. Vullo said the agency approved Square ‘s application for a virtual currency license. The payments company has a money-transmitter license from the Department of Financial Services (DFS).

US Supreme Court Gives The Green Light For Online Sales Taxes

PYMNTS

States can collect sales taxes from online retailers thanks to a U.S. Supreme Court ruling on Thursday (June 21) that addressed one of the most controversial and longstanding issues in eCommerce. The 5-4 decision essentially overturns the court’s 1992 ruling that states can collect sales taxes only from retailers that maintain a physical presence in those states. The 41 states that asked the Supreme Court to overturn that decision, Quill v.

Taxes 150

American Dream Miami Receives Approval From Florida Officials

PYMNTS

The 6.2 million-square-foot American Dream Miami — potentially the most expensive mall ever built — has received approval from officials in a Florida county. The project, which is being developed by Triple Five Worldwide Group of Companies , is estimated to come at a cost of $4 billion, The Wall Street Journal reported. While the project was originally slated to have 1.5 million square feet of entertainment and 3.5

Miami 156

Tapping Digital Escrow To Build Big-Ticket eCommerce Trust

PYMNTS

Big-name eTailers like Amazon, eBay and Walmart have made it easier than ever to buy just about anything online. When it comes to shopping for big-ticket items like pre-used or new commercial vehicles, though, the online shopping process is anything but easy.

Online 158

Blockchain: Payments Execs Unpack The Hope From The Hype

PYMNTS

Remember when blockchain was the new technology buzzword on the … block? Still buzzy, if not so new in the nomenclature. Now blockchain is on everyone’s lips, and has been for a while.

Salesforce VP On Channeling APIs For Personalized Financial Services

PYMNTS

Financial services players, both big and small, are embracing APIs in a major way — as they should.

Trends 255

Visa Award Winner AiFi Plans Checkout-Free Grocery Stores

PYMNTS

It’s a stamp of approval and financial reward in an increasingly competitive field: AiFi , a U.S.-based based company about to launch major tests of its cashier-less grocery store technology, took home the top honors in Visa’s Everywhere Initiative contest in the United States.

An Unattended Way To Keep Business Running And Employees Healthy

PYMNTS

The siren song of the vending machine can often call to employees who are stuck toiling away at their desks. Quick snacks might help satiate cravings, but they often fall short on nutritional value.

Becoming Our Money — And Other Tales From The POS World

PYMNTS

Perhaps not since the adoption of chip and PIN payments has there existed so much potential for disruption in the point-of-sale market. The rise of mom-and-pop entrepreneurs, the coffee truck operators, craft makers and others has opened the door for the smaller POS operators to capture new business. That’s how Andrew Byrne, chief operating officer at London-based payment services firm myPOS , told it during a recent interview with PYMNTS.

Cards 149

Direct Deposits Top Disbursement Preferences

PYMNTS

Consumers love direct deposits when it comes to recurring disbursements, but they aren’t always satisfied with paper checks. When it comes to banking, credit unions notched new members in February.

Texas 130

TRENDING: Robots And Humans Join Forces To Speed eCommerce, Together

PYMNTS

Companies recognize the need for IoT security, but few are acting on those concerns. According to a recent survey, 97 percent of respondents said an attack on unsecured devices would be devastating to their organizations.

Trends 236

NEW REPORT: Can Digital Escrow Drive Big-Ticket eCommerce?

PYMNTS

It’s easy for consumers to buy just about anything online these days. But big-ticket items – such as used vehicles, agricultural equipment and valuable artwork – require more than a point and a click to add an item to a digital shopping cart.

Report 169

PayPal Will Buy Hyperwallet In $400 Million Deal

PYMNTS

PayPal said on Tuesday (June 19) that it will buy payments payout platform Hyperwallet for $400 million in cash. The deal will give PayPal greater strength in eCommerce and online marketplaces, PayPal said in a statement. Marketplace sales accounted for 50 percent of all online sales in 2017, according to an estimate provided by PayPal.

Blockchain Will Test Investors’ Patience, Experts Say

PYMNTS

Blockchain has issued many promises in the financial services space, vowing improved efficiency, heightened transparency and unmatched security. The debate continues over whether distributed ledger technology can fulfill those promises, but analysts today say that, whether these benefits are actualized or not, markets will have to be patient to find out. FIS ‘ SVP product strategy, Esther Pigg, recently told PYMNTS’ Karen Webster about this need for patience.

Pay By Face: 3D Facial Recognition And Frictionless Checkout

PYMNTS

It’s one of the ideals of payments and commerce, a vision that drives so much research and experimentation: Making it through a store checkout lane without fishing for a card or waving a mobile phone, or even checking into a hotel after an exhausting flight without producing a driver’s license and credit card to gain access to the room. Transactions anchored around biometrics , and biometrics only, represent a seemingly utopian future that seems to get closer every year.

Synchrony To Acquire Loop Commerce

PYMNTS

Synchrony Financial announced today (May 10) that it will acquire Loop Commerce , the digital gifting platform used by retailers to make every product giftable.

39 Top Payments Execs Tell Us What’s Next

PYMNTS

A good forecast is a notoriously difficult thing to write – particularly if one is trying to write it about the payments and commerce ecosystem.

eBook 276

GDPR Becomes Reality, Consumer Data Becomes Global

PYMNTS

It was a long time coming, but it’s here. As the world knows by now, the European Union’s General Data Protection Regulation (GDPR) took effect on May 25. The mechanics of what firms have to do when it comes to collecting, managing and processing data has been well-publicized.

Data 198

Jumio CTO Paints A Portrait Of ‘IDV Nirvana’

PYMNTS

“On the internet, nobody knows you’re a dog.”. It was the original internet meme, more than two decades before the term “meme” would even be coined.

FBI Arrests 74 People For Business Email Compromise Scams

PYMNTS

Federal authorities including the Department of Justice and the FBI announced Monday (June 11) that law enforcement arrested 74 people in the U.S. and overseas for engaging in international business email compromise schemes aimed at intercepting and stealing wire transfers from individuals and businesses.

The Payments Bucket List (No, It’s Not What You Think)

PYMNTS

In the age of devices, rewards, apps, eWallets, cards virtual and plastic – spanning debit, credit and virtual options – how do consumers manage their financial lives? A big topic to tackle, to be sure. In the latest Topic TBD, Kelley Knutson, the president of Netspend (owned by TSYS), delved with Karen Webster into how and why consumers make the payments choices they do. Think compartments, or … buckets, if you will.

Turning To APIs To Bridge The Gap Between Old And New Tech

PYMNTS

From mom-and-pop retail shops to the world’s largest companies, nearly every business is looking to offer the latest technology to its consumers. For many in the financial services world, though, implementing innovations is easier said than done.

System 223

TRENDING: Inside GDPR’s Enforcement Strategies

PYMNTS

Cyberattacks on American financial institutions are at an all-time high, with more and more cybercriminals eyeing consumers’ financial data and other sensitive information.

Trends 203

Secure By Design: Why Privacy Must Be Baked In To IoT Devices

PYMNTS

A connected world is a convenient world for both work and play. Too often, however, the price of convenience is privacy. If data within the Internet of Things (IoT) is not secured properly, it puts people’s overall safety in jeopardy — and it’s not just about loss of sensitive personal data. In fact, according to UL , the even greater threat is that an attacker could take over the functionality of poorly secured devices.

Business Scams, Everywhere, Phishing For Funds

PYMNTS

Business scams are nothing new. There are just new ways to do them, it seems, and in the age of technology, the crackdowns on bad actors are going global. This past week saw the Federal Trade Commission (FTC) announce a new law enforcement initiative that focuses on bad actors who seek to commit crimes against small businesses. The efforts come in tandem with eight state attorneys general, in addition to the New York Division of the U.S. Postal Inspection Service and the Better Business Bureau.

Braintree’s Juan Benitez On The Future Of A PayPal-Owned Hyperwallet

PYMNTS

It’s a deal that hits some of the most important payment-related hotspots: Online marketplaces. Localized currencies. Global payout services. The gig economy. Expanded eCommerce ecosystems. The deal announced late Tuesday (June 19), the one where PayPal buys Hyperwallet for $400 million, not only creates a company that will have significantly increased power in all facets of online retailing, but also adds end-to-end payments strength that promises to develop in ways not yet considered.

How Applebee’s Sees Digital Ordering Shaping Casual Dining

PYMNTS

“Fast” and “on the go” aren’t just the buzzwords of QSRs anymore. Even casual dining restaurants are hopping on the mobile ordering bandwagon.

Amazon’s Furniture Sales Reached $4B In 2017

PYMNTS

Amazon ’s furniture sales are on the move: A One Click Retail study found that the eCommerce retailer has more than tripled sales in that category since 2015. And, in 2017, furniture brought in approximately $4 billion, retail news source Chain Store Age reported. “It’s It’s clear that the furniture market is a valuable investment for Amazon, and it’s equally true that Amazon is a valuable investment for furniture brands,” according to One Click Retail’s “Furniture: The Amazon Effect” study.

Work Spaces Serve Up Coffee With Community In Apartment Buildings

PYMNTS

Sometime in the near future, a gig economy or remote worker who lives in an apartment building in Austin, Texas might start their day like this: They will leave their apartment and walk downstairs to a coffee shop where they will grab an iced latte. Instead of having to leave the building to travel to a coworking space, they will simply walk past the coffee bar to their desk at a coworking space — within their own building.

Can Behavioral Analytics Slow Online Fraud?

PYMNTS

Pity the poor fraudster. Fraud has no choice but to roll with the punches, and the flurries are enough to daze a boxer as skilled as Ali. Get a toehold in a consumer’s account with a card and whammo, here comes EMV. Grab a piece of an ID and blam! Machine learning rears its mechanical head. We’re being tongue in cheek, of course. We pity no fraudsters. But the evolution is real, and happens quickly.

Chubb And Sure To Offer Ride-Hailing Passengers Insurance

PYMNTS

Chubb, the insurance company, has partnered up with Sure Inc., a startup, to sell insurance to users of ride-hailing apps including Uber. The Wall Street Journal reported that Sure has created a product that gives passengers of ride-hailing apps accident and death coverage on a per-day basis. The insurance can be purchased on demand via a mobile app and will protect the passenger from any injuries he or she received while in the vehicle.

NEW REPORT: Why Cash Still Beats Digital Payments In Asia-Pac

PYMNTS

India, China and their powerhouse Asia-Pacific neighbors boast a massive regional cash economy, with residents spending a total $5.6 trillion in cash in 2016.

Report 176

MoviePass Adding High-Demand Pricing To The Mix

PYMNTS

MoviePass , the movie theater subscription service, is changing its pricing — the company is adding “high-demand” pricing to the mix. Business Insider , citing MoviePass chief executive Mitch Lowe, reported that in the coming weeks, users will pay an extra $2 for movies that are popular with subscribers to the service. “At At certain times for certain films — on opening weekend — there could be an additional charge for films,” Lowe said in the report.

Report 122

Final Amazon Marketplace Executive Loses Many Of His Duties

PYMNTS

Amazon’s Peter Faricy, the vice president of Amazon Marketplace, the remaining executive in the unit, has seen his role in the company reduced. CNBC , citing an internal document, reported that Faricy, who has worked at Amazon for twelve years, has no one reporting to him except for his assistant — many of the functions overseen by him and his former boss Sebastian Gunningham, who left the company for WeWork, have been shifted to the head of Amazon’s retail group Doug Herrington.

Tools 122