For years, the restaurant industry was growing like crazy, but new data seems to indicate that might not be the case any longer. In 2015 alone, propelled mainly by a wave of millennial consumers who seemed to make dining out more frequently a part of their lifestyles, the restaurant industry was both the fastest-growing retail industry and the largest retail sector. But is the boom in the restaurant industry finally starting to run out of steam? MORE

Bank of America's Head of Digital Banking Michelle Moore and PayPal CEO Dan Schulman each made separate comments the past couple of weeks about the future of digital payments in the U.S. The problem is that right now, they're way off MORE

For a company once known as a threat to the card networks and banks, PayPal is now an ally as it pushes forward with digital payments MORE

In Brazil, the antitrust watchdog, Cade, is looking into the credit card industry, with an eye on possible anticompetitive practices. Under the terms of the complaint, Nubank has alleged that some of the largest banks in the country, including Banco do Brasil, Itaú Unibanco Holding SA, Banco Bradesco SA, Banco Santander Brasil and Caixa Econômica Federal, have sought to stymie free competition in the industry. MORE

To say direct-to-consumer retail practices have had an impact on the manufacturing industry would be an understatement. With eCommerce a major proponent of the direct-to-consumer (DTC) channel and showing no signs of slowing down, the retail industry landscape has been forever changed. Zebra Technologies’ senior vice president and CMO, Jeff Schmitz, commented on the report’s findings and what it means for the future of the industry. MORE

Twice as many severe enforcement actions terminated as issued so far in 2018 Compliance Risk Management Compliance Management Compliance/Regulatory. 1Compliance MORE

Many countries have joined the rush to go cashless by promoting wider adoption of digital payments and legalizing cryptocurrencies. Still, it’s European countries like Sweden that continue to be the models for cashless societies. MORE

Scotland’s economy has excelled in industrial industries such as shipbuilding, steel and petroleum, but the country is turning its attention to developing a rising digital tech scene. Glasgow is undergoing a transformation — from industrial powerhouse to leading digital technology cluster. In this week’s installment of PYMNTS’ Weekly Tech Center Roundup , one of the country’s thriving tech clusters, Glasgow, takes center stage. MORE

UK Finance , an industry trade association, is launching an independent investigation into the way the market’s banks treat small businesses (SMBs), according to Reuters reports on Thursday (March 29). The group appointed Simon Walker to lead the review, which will specifically look at the way banks handle complaints filed by small business borrowers. Reports said Walker and his team will probe how banks handle disputes with SMBs that are too small to go to court but remain unresolved. MORE

Fashion designer brand Marc Jacobs is collaborating with Microsoft to address key challenges in the industry’s supply chain management and accounts payable (AP) processes. The companies announced news on Wednesday (April 25) that they are partnering to enhance Marc Jacobs’ accounts payable and invoice processing capabilities. The brand has deployed MediusFlow , an accounts payable and invoice automation solution designed on the Microsoft Azure platform. MORE

The automotive industry just had a head-on collision — with technology. He explained that the automotive industry is the one place where the concepts of IoT can be made very real to the mass market — where they will be able to see it, understand it and really feel its impact. With the onset of the IoT and a greater focus on innovation, it’s clear the automotive industry is quickly moving toward the opportunity for greater efficiency, McCammon said. MORE

Startups specializing in blockchain may have their eye on disrupting the $15 billion music industry. According to Forbes , the music industry stands to benefit greatly from the use of blockchain technology. These inefficient intermediaries leave the industry in a position where it is ripe for disruption. The mainstream channels for music distribution in the industry face two major challenges: payments and accessibility. MORE

The post A Better way to Digitize European Industries appeared first on Dataconomy. Industry MORE

While much of the speech highlighted financial inclusion for individual borrowers, he also emphasized the changes brought upon the SMB finance industry due to industry consolidation and emerging FinTechs. Despite this disruption, Quarles noted that traditional big banks’ share of the small business lending industry has actually increased, especially for smaller loan amounts. Randal K. MORE

Mobile payments processor Square is filing an application to create an industrial loan company with the Federal Insurance Corporation. Most notably, as an industrial bank, Square […]. MORE

Created in 2017, the API Standardization Industry Group has begun developing an application program interface (API) standardization “playbook” to help enhance support for payments and the business needs of financial institutions, companies, FinTechs and other industry stakeholders and participants. financial services industry — has been slow. NACHA and the Industry Group believe one of the biggest challenges is a lack of standardization. MORE

Credit card processing and cash vault services for the medical marijuana industry is now available in the USA,” says Jerry Kelly, National Market Sales, Go Green Processing in the press release. . The merchant POS system is designed with an eye on giving patients and customers complete freedom to interact with the medical marijuana industry just as they do with other businesses. MORE

Credit underwriting is more reliant than ever on Big Data, and one of the industries in which this is most pronounced is the construction industry. Plus, the construction industry today is complicated by delayed and late payments to contractors, sub-contractors and suppliers, while payments also face additional friction by the manual process of lien waivers, which confirms parties on a project have received payment and therefore have waived lien rights to the owner’s property. MORE

In our constant pursuit of encouraging industry innovation, we are always on the lookout for new and inspiring players, and are eager to share our findings with our readers. To do this, Bank Innovation has launched the Watchlist. The Watchlist monitors startups from around the world, highlighting those that could transform financial services. Here, you’ll find some of […]. Exclusive Payments Startups Technology INV Fintech startups watchlist MORE

After years of steady growth as other sectors of the fashion industry have declined or remained stagnant, there appear to be signs beginning to emerge that the booming appeal of the activewear industry may also be coming to an end. Last year, activewear sales grew by 16 percent, compared to a 2 percent rise in year-over-year sales for the total apparel industry, according to The NPD Group. MORE

As the supply chain industry is one of the oldest businesses, it can sometimes be viewed as stodgy. While the industry has been around for well over a century, the term “supply chain management” wasn’t coined until the 1980s. Brody commented on how blockchain technology would play a role in supply chain productivity and profitability: “In almost any manufacturing and distribution-driven industry, the supply chain is how value is moved and created through the network. MORE

The latest victims in the crosshairs of this newly developed seamless service is the logistics industry. One of the major contributors to the upending of the logistics industry, via consumer demand, of course, is Amazon with its over 65 million Prime members. The move to closer locations is what’s known in the logistics industry as the “last mile” of delivery. This movement in the logistics industry has spurred entrepreneurs to develop innovative startups in the space. MORE

Within the music industry, merchandise sales are a major driver of revenue for artists, both online and off. Retail crowdfunding ecommerce entertainment retail merchandising Music music industry on-demand commerce on-demand marketplace sku SMBs social commerce social media Teespring MORE

Patent filings for blockchain technology have more than tripled since 2014; this spike includes patents filed by cryptocurrency exchanges such as Coinbase, payment processors like Mastercard, and banks like Goldman Sachs and the Bank of America. According to a report conducted by law firm Reed Smith, the most popular areas Read More. Online Payments Technology Virtual Currency Bitcoin BlockChain cryptocurrencies MasterCard patent law MORE

According to research inside the Kiosk and Retail Report, a USA Technologies collaboration, by the time the next decade rolls around, the interactive kiosk industry market will be worth $1.073 billion. What’s more, the industry has already experienced some impressive growth, with the U.S. One might just call this the age of unattended retail. MORE

Analysts continue to flesh out their predictions for payments and FinTech in 2017, but one can never truly know the exact direction an industry will take. Chris Winship , partner, FTV Capital , and board member, VPay : “Consolidation, market inefficiencies, changing regulations and the ever-expanding demand for eCommerce capabilities are four top factors that will continue to drive growth opportunities in the payments industry in 2017.”. “As MORE

In an effort to extend the European Union’s (EU) control over the financial industry following Brexit, the European Commission released a proposal on Wednesday (Sept. 20) which stated it would transfer some of the power to oversee the financial industry from each country’s capitals to the European Commission. Regulation Brexit EU European Commission finance industry News regulation U.K. MORE

The future state of self-service is turning the kiosk into a stand-alone store, and secure payment is one of the services that needs to be offered for it to be effective, says Ingenico's John Menzel, who recently shared his insights on EMV compliance in self-service MORE

Australia’s Institute of Public Accountants (IPA) is urging its members to “future-proof” their businesses as the industry heads toward disruption. Further, industry trends have led the traditional accountant model to become “obsolete,” reports said, meaning accountants have to embrace the more strategic role of advisor. “By MORE

Klever Logic has been making waves in the parking industry since its debut over five years ago. What attracted Goodner and other investors to Klever Logic was its potential to disrupt a massive industry that has lagged behind in upgrading its technology. “It’s It’s an industry dominated by large, multi-billion-dollar players that have been selling the same old parking technology to operators for decades,” said Goodner. “If MORE

According to The Prompt Payment Directory Managing Director Hugh Gage, recent high-profile scenarios like the collapse of Carillion and its knock-on impact on supplier cash flow has raised awareness of the issue of late payments in the industry. Following the collapse of the U.K.’s s largest contractor, construction conglomerate Carillion , new data shows a major spike in the number of construction companies facing financial struggles. MORE

Ridesharing bitcoin Blockchain cryptocurrency EY food industry IBM Microsoft News Tesseract Toyota Toyota News What's HotBlockchain, the technology that makes cryptocurrency like bitcoin possible, is moving into the auto and ridesharing markets. According to a news report in Reuters , EY, the consulting unit of Ernst & Young Global, announced Wednesday (Aug. 30) it is launching a blockchain system that will let companies and/or individuals share vehicle ownership more easily. MORE

Blockchain technology has the potential to impact nearly every industry involving money. If there was any industry that could be viewed as the definition of mundane and stuck in its ways, it would be insurance. To help better understand blockchain technology and how it is impacting the insurance industry, we sat down with global innovation platform Plug and Play ’s Principal and Director of InsurTech, Ali Safavi, and its Founder and VP, Scott Robinson. MORE

According to a new confidential industry report, the consumer side of British banking could soon find itself hard hit by Brexit. ” Europe Brexit britain economy European Union industry manufacturingJust over three months since Brexit, and the world is starting to see how it’s affected Britain and its economy. Some examples are too micro to overlook. Reuters reported that a British metalworking firm, Robert Bion & Co., MORE

Read more » The post The Five Building Blocks of the Automotive Industry Disruption appeared first on CU Direct Blog. Lending Marketing to Members auto industry customer relationships digital disruption disruptive innovators human experience innovation MORE

Despite the fact that they are currently being hotly pursued by technologists, the Industrial Loan Charter (ILC) is not exactly a new idea. ILCs are used to form industrial loan companies, better known as industrial banks. An industrial bank is an FDIC-insured depository institution that is generally subject to the same banking laws and regulations as any other bank charter type, with the important exception of the Bank Holding Act of 1956. MORE

Others, however, have complained that a million listens on a streaming service are worth about $100 to the writer of the song, once the music industry has taken its cut. Out of The International Consumer Electronics Show (CES) last week — and with several high-profile artists and a few million new dollars in funding — music industry blockchain startup Vezt has recently captured an awful lot of mainstream attention. MORE

PYMNTS asked nine executives from a cross-section of the payments industry for their thoughts on how Equifax changes everything, and how it doesn’t. Sometimes events in the payments world are seismic ones. MORE

Getting customers through restaurants’ doors and getting restaurants through customers’ doors are two very different things. One can lead a business to succeed, even thrive, while the other can spell its gradual demise. Delivery is convenient on the consumer side; there’s no doubt about that. And aggregators like Grubhub , Seamless , DoorDash and Uber Eats make it even more so. But, for quick-service restaurants (QSRs) and fast-casual establishments, is it a smart business move? It’s a debate. MORE

Professionals in the financial services industry are focusing their energy on regulation and data management, according to a survey from consulting firm and technology services provider Synechron. MORE

eCommerce’s impact on the retail industry has no doubt been immense over the past decade. The cost to operate these new storage industry leases is a fraction of the profits at just $149 million. This type of profit margin has no doubt lured people into going into the storage industry for to store people’s prized possessions. Retail ecommerce News online shopping Public Storage self storage storage facilities storage industry MORE

Auto industry analysts are predicting extended Black Friday deals will offer a bump in car sales this year. Reports in Reuters said industry consulting and auto shopping website Edmunds is forecasting a 3.5 It also doesn’t hurt that automakers are starting to really sweeten the deals to clear out lingering 2017s and end this year on a high note,” said Edmunds’ executive director of industry analysis Jessica Caldwell in a statement Wednesday (Nov. MORE

In fact, the industry saw some 7,600 games released in 2017 alone — roughly 21 games per day. Those games may mean plenty of revenue for the industry, but staying on top of all the latest titles as they hit the shelves is an all but impossible task for even the most dedicated of gamers. MORE