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The Buyers: Omnichannel Customer’s Impact On Retailers

PYMNTS

No longer are retailers working with marketers to figure out a way to mass market products and services. With the advent of connected devices in the palm of almost every consumer’s hand, the retail ecosystem has certainly seen a shift. Through this omnichannel experience, retailers have more ways to connect with consumers.

Retail 137
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The Lures – And Challenges – Of Central Bank Digital Currencies

PYMNTS

The BIS report issued this week that focuses on “foundational principles” defines a CBDC as “a digital payment instrument, denominated in the national unit of account, that is a direct liability of the central bank.”. Beyond that, national efforts are piecemeal. Fed, the Swiss National Bank and others.

National 175
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AI and generative AI use cases in banking: 6 real-world examples

Abrigo

But Boston Consulting Group (BCG) says generative AI serves a fundamentally different purpose than predictive AI, which is the powerful tool with which many financial institutions are already familiar. The greatest absolute gains forecast (largely from increased productivity) are tied to corporate and retail banking.

Examples 221
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Central Banks See Digital Fiat As Complement To Cash, Not Replacement

PYMNTS

The BIS noted of central bank digital currency ( CBDC ) that “a CBDC could provide a complementary central bank money to the public, supporting a more resilient and diverse domestic payment system. Those questions include: How does the Fed get those digital dollars to move throughout the banking system?

Boston 233
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Australia Central Bank Sees No ‘Public Policy’ Case For CBDC (For Now)

PYMNTS

In notes on its most recent (August) meeting of the bank’s Payments System Board, the members said that “at present there is not a strong public-policy case for issuance in Australia, given that the electronic payments system in Australia compares very favorably with those in many other countries and access to cash remains good.”.

Policies 181
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Amazon Sidewalk Eyes IoT Beyond The Connected Home

PYMNTS

Using Sidewalk won’t require new hardware, as the system is available as a software update to Echo and Ring products. But he noted that Sidewalk would “struggle to match 5G’s national coverage.” Users can turn the Sidewalk feature off if they would like.).

Boston 210
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Drizly’s Dramatic Year

PYMNTS

But the fact that alcohol is age-restricted for consumers is only the start of the complexities around trying to sell it – the sale of it is also managed under what is known within the industry as the “three-tiered system.” Producers (or importers) sell to distributors, distributors sell to retailers and retailers sell to customers.

Retail 128