PYMNTS

FEBRUARY 12, 2019

For the connected consumer , connected commerce will be 100 percent digital , especially as the bridge millennials wield spending power across the next several decades. 2,225: The amount bridge millennials spend, on average, on annual retail purchases.

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Millennials Payments Retail Lending 154

PYMNTS

MAY 21, 2020

Providing flexible payment methods that customers feel they can afford is now retailers’ goal, as many are also experiencing financial strains from COVID-19. Such payments can also help both consumers and retailers rediscover the sense of stability they desire during uncertainties like the economic downturn.

Millennials 202

Millennials Examples Retail Cards 202

PYMNTS

SEPTEMBER 17, 2018

13 through 16, is further evidence of the eCommerce giant’s “new retail” strategies, where offline and online conduits converge, as noted by sites such as marketing-interactive.com. Data from CBN also found that millennials launched as many as 700,000 shops on the Taobao platform last year. The September event, which spanned Sept.

Millennials 134

Millennials Lending Retail Trends 134

PYMNTS

OCTOBER 2, 2019

In digital fraud news, new global regulations and solutions are being deployed to keep consumers, merchants and banks safe as fraudsters become more aggressive. And in retail, pizza’s popularity constitutes a driving force for ongoing innovation in the sector, while EMV’s delay has been the convenience store’s gain.

Mobile 108

Mobile Millennials Fraud Data 108

PYMNTS

APRIL 3, 2020

Just 33 percent of millennials carry credit cards, for example, but this demographic and Generation Z combine to make up the largest BNPL market user base. These services are beneficial to businesses as well, with payment solutions provider PayPal finding that average receipt sizes rose 15 percent for the retailers that offered them.

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Exercises Payments Millennials Cards 165

PYMNTS

JUNE 1, 2016

Politics and retail usually mix like oil and water. Hipmunk admitted that because its user base skews young and millennial, these numbers might draw something of a more dramatic picture than actually exists, but an average annual decline of nearly two out of every three bookings is a clear enough signal that something is going on.

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San Francisco Retail Las Vegas Cleveland 100

PYMNTS

DECEMBER 11, 2020

He said regulators and federal legislators play a bigger role on the regulatory front that some people appreciate, and their decisions will very much affect how the future plays out. I'm all for regulation and being sure we do it right, but if you overreach, that has a quick boomerang effect, too,” Sugden said.

Payments 188

Payments Millennials Cards Regulation 188

Celent Banking

MARCH 16, 2015

This last week the American Banker Retail Banking Conference 2015 was going on in Austin, TX. With interest rates low and new regulations following the financial crisis, banks are running incredibly thin margins, and traditional revenue sources are no longer viable. There were a couple of overarching themes throughout the event.

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PYMNTS

DECEMBER 13, 2019

It’s a world that has sprung up around the spending power and tastes of millennials and Gen Zers, and it’s getting hard to keep track of all the available options. According to one Mastercard study , about one-third of millennials and Gen Zers would let a bot plan their next trip in an automated fashion using data from their travel history.

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Fraud Millennials Comparison Online 130

PYMNTS

MARCH 10, 2017

What if we were to tell you that retail shopping isn’t dead? In fact, we imagine that since digital currency-watchers are eagerly awaiting a ruling from a different federal regulator (the SEC) on the fate of a bitcoin-based exchange-traded fund, it was a particularly tough time to hear any negative feedback from a federal official.

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Bitcoin Retail Security Maine 122

PYMNTS

MARCH 10, 2020

Consumers love the delayed payment options and so do retailers, but the BNPL players themselves are loving their business model, too. The IOU apps are reporting that average order value is typically higher, and checkout conversions surge 30 percent for retailers using BNPL. It’s a bona fide phenomenon.

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Case Study Retail Millennials Branding 135

PYMNTS

APRIL 11, 2019

For those plans to succeed, however, a robust system of digital ID is necessary, lest regulators and parents decide such a retail activity is unsafe for children, and take steps to pull it back. Preempting More Regulation. The stakes of getting this right are significant, Pointner said.

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Online Retail Regulation Maine 169

PYMNTS

JULY 15, 2016

When Amazon, the largest retailer by market cap, says that it had its best day ever , it’s hard not to call that a sizzle – and then some. Pokémon GO: Pet Rock or Opportunity To Rock Retail? The Summer’s Best Retail Opportunity? . We found one gigundo sizzle and three moderately sized fizzles. Amazon Sellers .

Retail 100

Retail FDIC Bitcoin Lending 100

PYMNTS

MAY 10, 2018

Millennials are branching off into two groups: younger consumers just starting out, and “bridge” consumers who have entered their prime spending years. Some groups — like beneficial owners — are emerging less organically, and more at the behest of regulators who want to know who they are when it comes to account ownership. .

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Groups Millennials Community Regulation 100

PYMNTS

AUGUST 9, 2019

Bank Regulators Probe Amazon Cloud. The world’s largest retailer by sales quietly filed an application with the U.S. The regulation is aimed at protecting consumers and merchants from fraudsters and other online criminals aiming to access their financial information, which means increased security at online checkout.

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Apple Virginia Regulation Millennials 115

CB Insights

OCTOBER 10, 2018

Startups targeting retail and commercial banking have been emerging globally, spurred by favorable tech regulations, an uptick in mobile adoption, and shifting customer demographics. This year in the US, JP Morgan launched mobile banking app Finn and Goldman Sachs’ retail banking arm Marcus crossed 1.5M Incumbents Play Catch-Up.

Retail 78

Retail Cards Millennials Mobile 78

TheGuardian

SEPTEMBER 18, 2021

Fintech firms are jostling to offer millennials interest-free payment plans as they shop online. Labelled by some as “the future of millennial finance”, it has gained a foothold among the under-30s and those with tight finances, who have welcomed the ability to delay payment for goods, typically without interest.

Millennials 74

Millennials Course Lending Fintech 74

PYMNTS

FEBRUARY 5, 2020

And, Garg noted, as millennials and Gen Z consumers are aging into their prime spending years, he believes it will push them to an ever-greater global scale going forward. The funny statistic I hear is that 40 percent of millennials fear credit card debt – nearly as many as the 43 percent that fear car crashes,” he noted.

Cards 143

Cards Millennials Regulation United States 143

PYMNTS

DECEMBER 27, 2018

This trust does flow through on the Retail customer side, with more than half of Millennials and Gen Z consumers willing to share online bank account credentials with third parties — as a result, this monopoly is vulnerable. Firstly, regulators driving Open Banking or Open Data (e.g.

Customer Experience 191

Customer Experience Survey Trends Data 191

PYMNTS

DECEMBER 31, 2020

When you look at the spending graphs for millennials at that time, debit was growing at twice the speed of credit, but the average order value was much lower, which correlates with the lower disposable income in the demographic at the time,” Molnar noted. i2C: Regulators Circle The Wagons On Big Tech. These are not easy issues.”.

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Innovation Payments Trends Regulation 289

Chris Skinner

FEBRUARY 3, 2017

Couple this with increasing regulation, historically low interest rates, and the fact that most (73%) millennials would prefer to get their banking services from a non-financial services company, and banks seem to be headed the way of Blockbuster. million banking jobs by 2025.

Innovation 150

Innovation Millennials ATM Data 150

PYMNTS

NOVEMBER 28, 2017

Painter said the service specifically targets millennial consumers by allowing them to shop for pre-owned vehicles based on the monthly payment amount for which they are pre-qualified. The millennial factor. Fair’s phone-first approach to vehicle shopping was designed for millennials, he explained. percent compared to the 12.09

Mobile 102

Mobile Millennials Los Angeles Trends 102

PYMNTS

JANUARY 2, 2017

Every Monday, this column space is dedicated to the musings of Karen Webster and her take on all things payments, commerce and retail. It’s as if the retail world is really coming down to Walmart versus Amazon. makes it the largest retailer in the world in terms of revenue and number of employees. Walmart Vs. Amazon.

Millennials 119

Millennials Apple Retail Mobile 119

PYMNTS

AUGUST 14, 2017

You will observe grocery, as a retail category, is very fragmented. The regulators in Europe piled a $2.7 billion fine onto Google, claiming that their product carousel ads created an unfair advantage to small guy retailers who didn’t have the money to advertise. This one is particularly amusing. Investors put $2.65

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Innovation Online Google Millennials 109

PYMNTS

NOVEMBER 21, 2017

financial institutions (FIs) have been advised to comply with the EU’s Revised Payment Service Directive (PSD2) regulations despite Brexit, but the U.K. The financial management hurdles are especially acute for millennial entrepreneurs, according to findings from Nesta’s report, released earlier this month.

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Fintech Millennials Meeting Innovation 115

PYMNTS

JUNE 7, 2019

As has been recounted in this space, the European Union’s SCA regulation looks to have hundreds of millions of consumers confirm they are who they say they are when they buy goods and services online. Finn: JPMorgan shutters its project aimed at bringing more millennials to digital banking.

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Fintech Study Online Retail 101

PYMNTS

MARCH 19, 2018

His premise knits together a series of storylines that regular readers of PYMNTS are quite familiar with: That the Amazon Effect on retail , despite the company’s 4 percent share of it, is real and that it uses its diversified sources of revenue, like Amazon Web Services, to subsidize its retail business at the expense of traditional retail.

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Google Apple Retail Millennials 148

PYMNTS

FEBRUARY 11, 2019

The youngest of the bridge millennials – those 30- to 40-year-olds who today represent the first generation of connected consumers with spending power – will be having their mid-life crises at the age of 50. In a world where, as the Census says, 90 percent of retail sales still happen in the physical store, cards rule. The Big Shift.

Online 197

Online Retail Mobile Branding 197

PYMNTS

JULY 17, 2018

As those devices communicate more efficiently with each other, and enable a range of commerce- and payment-related tasks (such as personalized advertising, anticipating retail purchases, automated ordering and bill settlements), the security risks will evolve and grow. All those connected devices will, by 2025, represent an estimated $6.2

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Security eBook Millennials Industry 102

PYMNTS

JANUARY 24, 2020

However, government bodies are unable to innovate at the same breakneck pace as retailers or other consumer service industries, as they must adhere to complex regulations, and ensure that their software is not leaving partners behind. Payment Challenges Stall Government Innovations . Forty-four out of the 50 U.S.

Payments 130

Payments US Fraud Innovation 130

PYMNTS

AUGUST 24, 2018

Not only do gift cards stand as the most popular holiday present, according to the National Retail Federation and other sources, but a Blackhawk Network survey found that “44 percent of consumers surveyed are interested in receiving a gift card to play the lottery, while 43 percent would be interested in giving a lottery gift card.”.

Ohio 103

Ohio Mobile Cards South Carolina 103

Independent Banker

NOVEMBER 25, 2015

“We are going to have to lean into this digitized world, so that we can continue to serve our customers well into the 21st century,” ICBA President and CEO Cam Fine told the 24th World Congress of Savings and Retail Banks in Washington, D.C., See “Closing the Gap” in the November 2015 issue, online at www.independentbanker.org.).

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Community Bank Community Analytics Lending 70

PYMNTS

SEPTEMBER 22, 2016

Retailers can already count on more goods flying off their shelves this holiday season, judging by consumer spending. And, according to Pew Research, millennials are the group most concerned about running out of data (and the group most likely to use a mobile phone for payments). will increase by 33.8 percent to $7.77 billion, or 13.3

Mobile 100

Mobile Video Millennials Payments 100

PYMNTS

JUNE 11, 2019

From automakers to retailers and online platforms, companies around the world are tapping into connected commerce technology in automobiles and mobile devices. The portion of millennial parents who would rather not eat at all than wait in long QSR lines is 48 percent.

Google 110

Google Mobile Technology Retail 110

PYMNTS

SEPTEMBER 17, 2019

Interest rates on pawn loans vary as they are regulated by states. Regulations require that pawnbrokers request proof of ownership before making a deal with a potential customer — but the less reputable players in the industry have a nasty habit of forgetting to ask. So what is driving the Pawnaissance?

Ohio 151

Ohio Lending Iowa South Dakota 151

Insights on Business

APRIL 28, 2017

At the same time, regulators in many countries also have relaxed regulations to encourage innovation in the banking industry. Some of the most important elements mentioned by analysts and professionals can be divided into four models: Digital bank brands: Many established, full-service banks find it difficult to appeal to millennials.

Digital Banking 171

Digital Banking User Experience Branding social media 171

PYMNTS

JANUARY 26, 2018

“Given how integral these data are to these basic CFPB functions, I fear that the freeze in data collection has, in practice, fundamentally changed how the CFPB interacts with its regulated entities, particularly in the Division of Supervision, Enforcement and Fair Lending. Costco for Millennials: Forget the dad jeans. The reason?

Lending 101

Lending Cards Millennials Data 101