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Autonomous Retail Startup AiFi Secures $30M Total Funding

PYMNTS

Silicon Valley checkout-free, autonomous retail startup AiFi has secured a new round of funding, bringing its total raised to $30 million, the company said in a press release on Monday (Oct. He added that Qualcomm is “very impressed” with AiFi's edge-computing solutions.

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Fashion Retailer rue21 Strikes Deal To Retire Debt

PYMNTS

Fashion retailer rue21 (r21 Holdings, Inc.) Today is an exciting day, as we've accomplished our goal of putting rue21 on a secure financial footing in the most unprecedented of times," rue21 Chief Financial Officer Michele Pascoe said in an announcement. million members.

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Bank of America to spend $3.7B on tech development in 2023

BankInovation

Bank of America is increasing its technology development spend 9% year over year in 2023 as the bank continues to invest in digitization. billion in 2022, Chief Executive Brian Moynihan said at the Bank of America Securities Financial Services […] trillion bank will spend $3.7

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Security Firm Finds Flaws In Nautilus Cash Machines

PYMNTS

Researchers at New York-based Red Balloon Security identified two vulnerabilities in retail cash machines manufactured by Nautilus Hyosung America, the companies said in a joint press release on Monday (Nov. According to an estimate by Red Balloon Security, more than 80,000 machines are vulnerable. based in South Korea.

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Merchants And The Big Retail Reset

PYMNTS

Iain McNicoll , VP of Americas/SMB for payments platform Payoneer , recently told PYMNTS that eCommerce’s market share has risen to 27 percent from just 16 percent when the pandemic began. McNicoll said the quick gains aren’t surprising, as physical retail stores essentially closed down worldwide for months.

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Return Season Hits Hard; Some Retailers See Bright Side Of Customer Experience

PYMNTS

The dreaded returns season has hit retail with a predictable but painful thud. In fact, forward-thinking retailers are looking at the return process as a chance to create a positive customer experience. In fact, forward-thinking retailers are looking at the return process as a chance to create a positive customer experience.

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Afterpay Announces Nationwide Adoption By Major Retailers

PYMNTS

Afterpay has announced its in-store buy now, pay later (BNPL) service is being offered by major retailers at locations across the country. Shoppers can use Afterpay to buy items in select retail stores using their Afterpay card, a virtual, contactless card stored in their digital wallet,” the firm said in a Tuesday (Oct.

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