New York City Council Bans Cashless Food And Retail Stores

PYMNTS

The New York City Council on Thursday (Jan. Applebaum added that communities of color in New York City are more than twice as likely to lack access to a bank and are less likely to host a branch of a bank than the national average.

New York City’s Economic Recovery Is Years Away, Fiscal Watchdog Says

PYMNTS

The new Fiscal Outlook from the New York City Independent Budget Office finds that the COVID-19 pandemic has likely made it so the city's economy won't fully recover for years. Coronavirus Consumer Spending debt economy new york city News What's Hot

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

New York City Sees Surge In Street Vendors

PYMNTS

Fast forward 90 years and New York City is suddenly seeing a big jump in the number of street vendors as the jobless try to find new ways to make ends meet, The Wall Street Journal (WSJ) reported. Economy economy new york city News Retail What's Hot

Retail Vacancies Spike In New York City

PYMNTS

As New York City ’s vacancy rate has skyrocketed by nearly 50 percent, a report released by City Comptroller Scott Stringer showed that the amount of empty retail space in the city has doubled in the last 10 years or so. Overall, the 24-neighborhood analysis indicates that vacancy has grown across the city’s five boroughs. Earlier this year, news surfaced that rents were falling and vacancies were rising on New York’s storied Fifth Avenue.

Related Cos. CEO Calls For Workers To Come Back To New York City

PYMNTS

Some major New York City retail properties — including the shopping center at Hudson Yards — are only producing 50 percent of pre-pandemic rent, the CEO of major Big Apple landlord Related Cos. People have left the city. This is about bringing New York back to life.

New York City Mulls Fur Sales Ban

PYMNTS

Following the lead of other municipalities, New York City could be going fur-free with a proposed law on the horizon. Council Speaker Corey Johnson recently introduced a bill to ban companies from selling fur apparel in the city, which comes after similar efforts in cities such as West Hollywood, Calif., Two other cities in California — San Francisco and Berkeley — have also passed similar laws. Retail fashion Fur new york city News regulation What's Ho

New York City Mayor De Blasio Says Phase 4 Reopening To Start Monday

PYMNTS

New York City Mayor Bill de Blasio said the city is set to enter the last phase of reopening on Monday (July 20), Bloomberg News reported. It will also be expanded to include another 40 city blocks, including Chinatown, the mayor said.

New York City Sees Lower Rents Due To Pandemic

PYMNTS

The New York City real estate market, battered like other economic sectors by the coronavirus pandemic, is seeing lower rates than it has in almost a decade. Real Estate Coronavirus economy new york city News real estate Retail What's Hot

Amazon Rethinks New York City HQ2 Campus

PYMNTS

After facing resistance from politicians and protestors, Amazon is reportedly rethinking its planned New York City campus. The eCommerce retailer, which had intended to bring 25,000 jobs to the city, hasn’t acquired office space for the effort as of now, The Washington Post reported. While Virginia officials provided the company with an incentive package, the state of New York is not projected to provide final approval for another year.

Nordstrom Opens New Flagship Store In New York City

PYMNTS

As it expands in New York City, Nordstrom opened the doors to its first-ever flagship store for women and children on West 57th Street across from the new Nordstrom Men’s Store that debuted last April. The new flagship store occupies the base of the Central Park Tower, which the company says is the tallest residential building in the world, according to an announcement. Retail beauty brick and mortar new york city News Nordstrom What's Hot

Mercari Links With Postmates To Offer Mercari Now Delivery Service In Parts Of New York City

PYMNTS

Residents of Manhattan and Brooklyn can now use Mercari ’s new Mercari Now service in conjunction with Postmates to sell each other goods without having to physically connect, the company announced in a press release Tuesday (Oct. The company said the New York offering follows a successful three-month trial program in San Francisco. CEO John Lagerling said the company has a loyal user base in New York City.

Tech Center: New York City Takes on Tech Full Force

PYMNTS

For years, New York City has been at the epicenter of United States’ culture with the fashion and entertainment industries leading the way. With the top modeling agencies, MTV and the home of American broadway plays, there’s no denying New York City is bustling with creativity. With a big focus on technology in Silicon Valley and Boston, New York City slowly made its way to becoming a powerhouse tech player.

In New York City, paper receipts set to go the way of foie gras

Payments Source

Those yard-long paper receipts that spew from cash registers may be following plastic bags and foie gras into the dustbin of New York City history. Point-of-sale Retailers Compliance New York

Walmart’s Jet to cease its New York City fresh grocery business

Payments Source

s Jet subsidiary is ending its fresh-food delivery business just a year after introducing the service in New York City, another sign that the urban-focused site is scaling back. Walmart Inc.’s

Starbucks To Open Pickup Location In New York City

PYMNTS

As the company modernizes and reimagines the customer experience in stores located in high-traffic metropolitan areas, Starbucks plans to open a Starbucks Pickup store in New York City on Tuesday (Nov. In separate news, Starbucks reported growth in the ranks of its rewards program membership as it continues to pursue new opportunities to expand digital customer relationships.

Stripe To Give $20K Bonus, Then Pay Cut For Workers Who Leave New York City, San Francisco Or Seattle

PYMNTS

intends to provide a $20,000 bonus to workers who choose to leave San Francisco, Seattle or New York while reducing their base salaries by up to 10 percent, Bloomberg reported, citing an unnamed source.

What's amazing in fintech now: Maria Gotsch, President and CEO, Partnership Fund for New York City

Payments Source

Fintech Innovation Startup Leaders

Modernized transit fare systems brace for commuters' return

Payments Source

Contactless payments Transportation technology New York City Transit Payment processing

Walmart Bringing Same-Day Delivery To New York City

PYMNTS

s Jet.com unit is getting into the same-day grocery delivery market, gearing up to offer the service in New York City. Bloomberg , citing a statement the company made via email, reported that Jet plans on opening up a fulfillment center in the Bronx in the fall that will enable same-day and next-day delivery of groceries in New York City. Jet told Bloomberg the new fulfillment center will result in the creation of hundreds of new jobs.

Sleep Number Unveils New Interactive Store In New York City

PYMNTS

Sleep Number is opening a new brick-and-mortar store in the New York City’s Flatiron District, adding to its portfolio of over 560 locations. Our new Sleep Number store in the Flatiron District demonstrates the transformative impact of our smart beds on individual comfort, restfulness and well-being.”. With the store experience, shoppers can see a digital map that shows how people in neighborhoods across the city are sleeping.

Blacklane To Take On Uber, Lyft In Short-Range Trips

PYMNTS

Berlin-based chauffeur service Blacklane is directly challenging Uber and Lyft in the short-distance passenger trip business, beginning Monday (March 1) in New York City, The Wall Street Journal (WSJ) reported.

Hilton Hotel In Times Square To Close

PYMNTS

In a filing with New York’s State Department of Labor Monday (Aug. The iconic hotel on West 42nd Street was shuttered and furloughs began in mid-March as COVID-19 struck the city, The Wall Street Journal (WSJ) reported. The Hilton is not the only New York hotel taking a hit.

NYC Renters Fall More Than $1 Billion Behind In COVID Economy

PYMNTS

As the pandemic continues to bash the economy, all too many New York City apartment dwellers simply can’t pay the rent. He added that the total amount of what the city’s renters owe, including those in apartments that aren’t rent-regulated, would probably add up to $2 billion.

IBM hosting two day Sales Performance Management Summit in New York City

Insights on Business

IBM is excited to be hosting the 2019 Sales Performance Management Summit, being held in New York City for sales executives and compensation leaders. Also discussed will be product demos about the new capabilities and features of the most recent release of IBM Incentive Compensation Management (ICM). Featured Carousel Featured Homepage Sales Performance Management events ICM Incentive Compensation Management New York NYC

COVID Surge Prompts Gov. Cuomo To Again Shutter NYC Indoor Dining 

PYMNTS

The struggling New York City restaurant industry was dealt a blow on Friday (Dec. 11) when New York Gov. In New York City , you put the CDC caution on indoor dining, together with the rate of transmission and the density and the crowding, that is a bad situation.

What's amazing in fintech now: Maria Gotsch, President and CEO, Partnership Fund for New York City

American Banker

Fintech Innovation Startup Leaders

NYC Approves Restaurant Surcharge 

PYMNTS

It could cost more to dine in New York City restaurants. The City Council approved an optional 10 percent fee restaurateurs can charge to ease the financial hardship brought on by COVID-19, The Wall Street Journal reported.

New York City amends debt collection regulations to include language proficiency requirements

CFPB Monitor

New debt collection rules creating requirements relating to consumers’ language proficiency are set to take effect in New York City on June 27, 2020. Debt Collection Limited English Proficiency Regulatory and Enforcement debt collection language new york

Welcome To NYC — Here’s Your Vaccine

PYMNTS

Come visit New York City. As the Associated Press reported Friday, the city hopes to offer COVID shots to tourists using vaccination vans in Times Square and at other attractions. Coronavirus new york city News Safety travel What's Hot

Organizers planning de novo bank in New York City

American Banker

Capital OCC City of New York, NY De novo institutions Growth strategiesThe group behind NewBank is pursuing a charter with the Office of the Comptroller of the Currency to offer banking services nationwide.

Silicon Valley’s Lead in Innovation Centers is Shrinking

Bank Innovation

A new report shows that despite many companies struggling to maintain a culture of innovation, financial services companies are among the top three industries getting it right. DataBank Innovations Online Open Fintech Payments Startups fintechs innovation labs New York City TexasIf it feels like innovation has been one of the hot themes of 2017 in the financial world, it’s because its true.

New York City moves to ban cashless stores

American Banker

The city would join San Francisco and Philadelphia among cities that prohibit stores and restaurants from only accepting electronic payments. Payments Mobile payments Payment methods Credit cards Cash Visa Mastercard American Express New York

Data: 87 Pct Of NYC Restaurants Couldn't Pay Full Rent In August

PYMNTS

Eighty-seven percent of New York City restaurants, bars and other such venues couldn't pay their full rent during August, according to the most recent Rent Report from the NYC Hospitality Alliance. Economy economy new york city News Rent Payments Restaurants What's Hot

NYC Sees 40 Pct Hike In Bankruptcies As Office Workers, Tourists Stay Home

PYMNTS

Bankruptcy filings are surging in New York City with almost 6,000 closures, representing a 40 percent increase, according to Bloomberg , and it's forecasted to keep getting worse. Economy bankruptcy economy new york city News Restaurants Retail What's Hot

Enforcement grace period expected for amendments to New York City debt collection regulations adding language proficiency requirements

CFPB Monitor

The new requirements currently are set to take effect on June 27, 2020. Accordingly, several of the new requirements appear to have implications for creditors and debt collectors alike with respect to any collection activities involving NYC consumers.