Consumers Are Increasingly Researching Purchases Online

PYMNTS

That data strongly indicates 88 percent of consumer pre-research their buys online before making a purchase either online or in-store. In-store pick up is also becoming an increasingly favored method of conducting commerce, the report found, with 68 percent of consumers noting they were satisfied with their experiences when ordering what they needed online and then picking those purchases up in-store.

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Citizens Financial To Launch Online Consumer Bank

PYMNTS

Citizens Financial Group announced on Monday (May 14) plans to launch Citizens Access, a nationwide direct-to-consumer online bank. In a press release , Citizens Financial said the digital platform will offer FDIC-insured deposits products aimed at serving people who want to save and want the flexibility of an online banking service. Banking Citizens Access Citizens Financial consumer banking News online banking saving What's Hot

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Millennials SME Owners Prefer Online Alternative Lenders to Tradtional Ones

Bank Innovation

Online alternative lenders are gaining momentum with U.S. SMEs have used online alternative lenders (P2P lenders or marketplace lending platforms) […]. DataBank Lending Online Open Fintech Startups alternative lender millenial investing SME lending

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Online Grocery Approaches $50B In Online Sales Worldwide

PYMNTS

Online grocers are growing at a much faster rate than traditional brick-and-mortar grocers, according to a new report. percent in the past fiscal year, compared to a 15 percent growth in online grocery sales. Of the total worldwide grocery market, online sales now make up 4.4 alone, online grocery sales are expected to jump 157 percent in 2016 as online grocery delivery options, like AmazonFresh, Peapod and numerous other competitors, continue to flood the market.

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Virginia Sues Online Lender Over Consumer Loans

PYMNTS

Virginia is suing one of the largest online lenders in the U.S. In the newspaper’s story, Attorney General Mark Herring advocated for stronger laws to “protect Virginians from predatory loans, whether issued online or in person.”. “We’ve We’ve seen more and more Virginians turn to online lenders in a time of need only to find they’ve signed up for a debt trap that is going to cost them hundreds if not thousands of dollars in finance charges and fees,” Herring said.

Baidu, China Citic Online Bank Approved

Bank Innovation

China Citic Bank and search engine Baidu got the greenlight to go forward with their joint online banking venture. The bank will be exclusively online, according to reports, […]. Exclusive Lending Online Payments Retail Baidu China Citic Bank online banking

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Chase Customers Left Angry After Unexplained Mobile, Online Outages

Bank Innovation

Customers of JPMorgan Chase were unamused when the bank experienced a day-long digital outage, leaving many customers unable to make online transactions, use the mobile app, or conduct additional banking tasks. Exclusive Mobile Online Chase JPMorgan Chase Mobile banking online banking

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Barclays Shuts Down Online Banking Services on Easter Weekend

Bank Innovation

Cards Compliance Exclusive Mobile Online Open Fintech Operations Payments Barclays Easter U.K. Barclays customers across Europe will not be able to use their mobile banking app this weekend. The major U.K.

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Online Alcohol Delivery Surged 32 Percent Last Year

PYMNTS

New data shows that online alcohol-delivery revenue grew almost 33 percent last year, increasing at an average rate of 3 percent month over month. In addition, women purchased more alcohol online than men, making up almost 56 percent of alcoholic beverages delivered online. But the ladies aren’t the only ones who love their vino — the beverage is also tops for men, making up 47 percent of their online alcohol purchases.

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TD Online Banking Was Down for Over a Week, And Customers Are Not Happy

Bank Innovation

EXCLUSIVE— Online banking service for U.S. Exclusive Mobile Online Security cybersecurity JPMorgan Chase Mobile Apps Mobile banking online banking td bank

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Wayfair Results See Surge in Online Shopping

PYMNTS

Online home goods and furniture retailer Wayfair has seen its shares go up and down in the wake of earnings reported earlier this week, according to Thursday (Nov. Within the numbers, online shopping trends shone. Growing at an even faster rate — and, of course, helping to boost Wayfair’s top line — was the company’s online customer base, which was up 39 percent to 10.3

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Panera Leaves Customer Data Exposed Online For Months

PYMNTS

According to KrebsOnSecurity, the data, which includes names, email and physical addresses, birthdays, loyalty card numbers and the last four digits of credit card numbers, was visible in plain text on the Panerabread.com website for anyone that was signing up to place online food orders from the website for pickup or delivery. Security & Fraud Data Leak online orders Panera security & fraud What's Hot

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Hitting Reset On Online Auctions

PYMNTS

Online auctions have evolved since the early days of eBay. Retail DealDash discounts e-commerce eBay News online auction Penny Auction Shop Talk shoppingThe most popular complaint about them? The waiting. Since eBay auctions oftentimes span days — not all items have a “buy-it-now button” — bidding on goods on the web can, in certain circumstances, require near monastic levels of patience. Given that one of the mainstay complaints about the 1.0

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Online Grocery Predicted To Hit $100B In Five Years

PYMNTS

grocery shoppers may purchase at least some of their groceries online within five to seven years, according to a Food Marketing Institute and Nielsen report, CNBC reported. You can now find the basics of living online pretty easily.”. According to researchers’ estimates, 70 percent of shoppers will purchase some portion of their groceries online within five to seven years. Retail Amazon data grocery News online shopping research walmart What's Hot Whole Foods Market

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MobileBytes Launches New Update For Online Ordering

PYMNTS

MobileBytes , the point of sale (POS) for iPad innovators, has released its next-generation software update for online ordering. According to PointofSale.com , this latest update includes the ability to easily create specials and promotions for online orders, as well as allowing restaurateurs to automatically disable the sale of menu items that have key ingredients out of stock. “We POS Innovation iPad MobileBytes online ordering point of sale Restaurants Retail software update

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Can Cannabis Commerce Go Online?

PYMNTS

We came up with the idea of an online marketplace for cannabis because we were really looking at how people shop for everything. Customers want to shop online — but if you think about the last thing you purchased online, you probably did it in a very particular way.”. Said simply, Rosenfeld noted, customers have the ability to search when they shop online — and search somewhat flexibly.

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Getting Customers Past The Worst Part Of Online Registration

PYMNTS

This is what happened to online journalism. Subscriptions Conversions ecommerce Featured News LaterPay News online registration online shopping recurring payments subscription commerceThere’s an art to getting people to sign up and pay for anything these days. More often than not, they’ll turn tail at the first sign of a registration page. If that doesn’t scare them away, the “Enter Credit Card” field surely will.

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Middle East Online Marketplace Slowly Taking Shape

PYMNTS

Alternative payment options stand to fuel acceptance as they alleviate customers’ fears surrounding credit cards and fraud, and domestic online marketplaces are beginning to take root. But Amazon won’t get to enjoy its status as the only major online marketplace in the region for long. Noon.com was domestically built and funded and will welcome third-party sellers, creating an unprecedented opportunity for local businesses to carve out their online niche before the competition.

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Online Shopping Trends in UK

Mobile Payments Today

Across age groups, UK consumers demonstrate extremely high confidence in online shopping

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Online Catering Platforms Help Restaurants Reach Offices

PYMNTS

Companies often face a dilemma when it comes to corporate catering: They want to order breakfast, lunch, dinner or snacks for their employees, but the process can be complicated. Some companies assign that task to one employee — and that job is not easy. Arram Sabeti learned first-hand when he became the fifth hire of a startup.

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Vantiv Expands Online Footprint

PYMNTS

Online shopping cart software provider 3dcart announced its partnership with Vantiv to bring “flexible eCommerce processing choices” to more than 20,000 online merchant sites. 3dcart is committed to creating tight integrations with the best eCommerce partners on the market, and the results of those initiatives help provide online merchants with access to diverse payment processing options,” 3dcart CEO Gonzalo Gil said in a statement released on Wednesday (May 4).

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Fighting Online Fraud Through eDNA

PYMNTS

The same premise holds true today and poses a knotty question in online commerce and FinTech: How do you know the person on the other end of a transaction is really who they say they are? Gafke noted that “transactions of any kind leave a kind of financial, online exhaust” and that each transaction has attributes that, taken together and over time, ultimately, can be assembled into a digital identity.

Fraud 198

One-Third of Monthly Transactions for FIs and Online Lenders Are Fraudulent

Bank Innovation

Fraud remains a significant problem for financial services to solve, especially as digital and online banking becomes more prevalent in the industry. For the average FI and online lender, approximately one-third of all monthly transactions will be fraudulent.

Online 158

Walmart Hits With Grocery, Misses Online

PYMNTS

Walmart also expanded its buy online/pick up in store capacity, grew its digital payments platform ( Walmart Pay ) and generally re-centered its focus on integrating its massive physical scale with its upgraded eCommerce efforts. McMillon also noted that the switch to more online sales is taking something of a toll on profit margins, as digital sales are generally less profitable than in stores.

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Online Fraud’s Biggest Problem: Scale

PYMNTS

Online fraud problem? Judging from the latest Benchmark Report from CyberSource, online merchants are not only doing a great job of managing fraud, they are doing it across all online channels — and across all types of businesses. What fraud problem?

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Online Marketplaces Catching Up To Offline World

PYMNTS

Why should merchants be the only ones who get to leverage the speed, convenience and low-friction environment of the online marketplace? The big box retailer has been investing heavily in its online marketplace, and recently invited international vendors onto its platform. If a marketplace can work for aggregating goods from disparate providers, why not for services, too?

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Walmart Online Chief Departs

PYMNTS

Online retail is known for moving fast, and sometimes, the execs pulling all the levers behind the scenes move even faster. online operations, had vacated his post effective April 1.

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Toys R Us Sees A Future Online

PYMNTS

2) that Toys R Us has partnered with global marketplace solutions provider Mirakl to create a new online marketplace. The new online marketplace will launch in 2018, offering increased product selection and decreased time to market for new merchandise, Chain Store Age reported. Though Toys R Us hopes to see a boost in sales and customer engagement with the new online offerings, the company also has its eye on improving in-store experiences as well.

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In Fight Vs. Online Fraud, Everlast Finds Its Perfect Combination

PYMNTS

Turns out Everlast, perhaps the marquee name in boxing equipment, was punching above its weight … at least when it came to the fight against online fraud. Picture an 107-year-old retail juggernaut, iconic in name but perhaps a bit dated in business processes, battling against online scammers, chargebacks and general inefficiencies. Heron says many retailers do all order review processes in-house, and those online approval processes are anything but efficient.

Fraud 153

Online Fraud Attack Rates Soar Since October

PYMNTS

Since the cutover to EMV in October, fraudsters have moved their business online. The Global Fraud Index, a PYMNTS and Forter collaboration , shows that online fraud attacks have jumped by 11 percent since the shift. online merchants and how that changes over time. It’s official.

Fraud 204

More Online Merchants Should Provide Instant Financing Options to Increase Sales

Bank Innovation

As mobile wallets and consumer-to-business payments platforms grow in popularity as the preferred payment method among retail shoppers, it seems only natural that merchants should consider digital POS lending or instant financing options as a means to encourage more online purchases.

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Millennials Show Caution With Online Payments Security

PYMNTS

During the childhood of many millennials, the online world was in its infancy stages. With a decent amount of this age group remembering a time without internet access, it’s likely this may have contributed to their cautious nature when it comes to online identity and payment security. What may be the issue for most is not only secure online payment options but the fear of stolen identities. Retail ecommerce fraud Millennials online payments Security TransUnion

Capital One Joins Effort to Educate Seniors About Online Banking

Bank Innovation

Yesterday Capital One, a leader in digital banking, joined OATS (Older Adults Technology Services) in launching‘“Ready, Set, Bank: Online Banking Made Easy,’” an educational tool designed to increase online banking usage among older adults, enabling them Read More.

Vivier Launches New Online Banking Platform

PYMNTS

Vivier & Company, a boutique financial services company, has announced the launch of its new online banking system, which follows the completion of a cloud-based service for financial institutions implemented by IndiaT4T. Vivier’s real-time online banking platform is an important service for its international clientele, who will now be able to make and receive payments, check their current balances and view and download statements at any time.

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Eight In Ten Americans Shop Online

PYMNTS

Online shopping is no longer reserved for the tech-savvy, with a new Pew Research Center surve y finding eight in 10 American adults shop online. According to Pew, 79 percent made online purchases of any type, while 51 percent used a mobile phone to make a purchase and 15 percent bought something via a link from a social media website. Although a large majority of Americans have embraced online shopping, they still see the benefits of going into an actual store.

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Five On Five: A New Way To Fight Online Counterfeiters

PYMNTS

Today’s stories cover subjects ranging from online marketplaces to a new examination of Wells Fargo’s financial practices. Sketchy products can slip past the manual protections of growing online marketplaces, threatening relationships with buyers and sellers. Payments Innovation Barclays e-commerce financial regulation fraud IFC MasterCard News online marketplaces PayPal subscription commerce wells fargo

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Online Lending And A Tale Of Two Fed Studies

PYMNTS

Online consumer lending – in a variety of forms – has grown explosively over the last decade. But as online lending has become an increasingly important part of the financial services landscape, the topic has generated no shortage of debates over everything from its business models to the customers it attracts and the method used to acquire them. The Cleveland Fed study examined data from TransUnion for consumers who had been identified as having taken out “online bank-based loans.”

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Fact Check: Is EMV Pushing Fraud Online?

PYMNTS

According to Rurik Bradbury, VP, Identity Solutions at TransUnion, as more stores start accepting chip-enabled cards, the spike in online fraud has been remarkable – as in remarkably bad. . has been a big rise in online fraud.” The Ripple effect of EMV. Yep, it’s real.

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Another Online Lender Announces Layoffs

PYMNTS

The downturn is leading the online lender to walk away from previously held plans to expand beyond consumer loans to credit cards and also refinancing of auto loans. Alternative Finances al goldstein avant online lendingConsumer lending platform Avant is giving pink slips to 60 employees, or about 7 percent of its workforce.

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Drizly To Test Online Orders, Store Pickup

PYMNTS

Drizly, the alcohol delivery platform startup, is testing the ability for customers to buy online and pick up their spirits in a store. Its online marketplace, which was launched at the end of September, enables consumers to comparison shop and then see which liquor stores have a product, as well as the price in each store. “We’re eCommerce drizly News online orders pick up in store What's Hot

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