Digital payments and the retailer

Mobile Payments Today

Some retail outlets are experimenting with moving to digital payment-only operations. As non-cash payments become the norm, some retailers, particularly in hospitality, no longer accept cash. While there are downsides to managing cash, what are the pitfalls of refusing to deal with it

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Digital Approaches To Marketplace Payments And Retail

PYMNTS

In retail, Walmart has officially joined Microsoft in a bid for TikTok, as it bets on youth as well as ad revenue. 10K: Minimum number of stores Reliance owns and operates. Today In Data acquisitions Commerce ecommerce News payments Retail Today in Data

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Today In Payments Around The World: Delivery Hero Buys Glovo’s LATAM Operations; Telefónica Teams With Rakuten For OpenRAN

PYMNTS

In today’s top news in payments around the world, Delivery Hero said it has acquired Glovo’s Latin America operations, and Telefónica is teaming with Rakuten for the development of an OpenRAN (radio access network). The retailer, which is largely owned by Walmart, Inc.,

Investors Upbeat On Shopify’s ‘Global Retail Operating System’

PYMNTS

COO Harley Finkelstein, in a post-earnings interview with MarketWatch , said that strong outcomes were seen across the board from the firm’s efforts to transform itself from a software platform for digital and physical retail into “the first global retail operating system.”. billion, while gross payments volume jumped to $5.8 Earnings earnings ecommerce News Retail revenue shopify

Taking Digital Approaches To Marketplace, Restaurant Operations

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And in retail, digital innovation is mitigating COVID-19 impacts for dining establishments, while Walmart and Amazon are competing for holiday spending. retailers from May 1 to May 14. Today In Data Commerce COVID-19 digital commerce holiday spending marketplaces News payments Restaurants Retail Today in Data

PSD2 Creates Turbulence For Travel Operators

PYMNTS

With PSD2 in full swing in the European Union (EU), any merchant dealing with the payment data of EU citizens must upgrade their payment protocols to stay compliant. The Tracker also looks into how PSD2 could potentially serve as guidance for other countries that may be reevaluating their own rules on data privacy and payments. PSD2 may have a greater effect on payments, even outside the EU, as consumers all over the globe are clamoring for more data security.

Retail Banking Customer Satisfaction has Improved, But Only Slightly

Bank Innovation

Customer satisfaction in the overall retail banking industry has improved over the last twelve months, but ever so slightly, according to J.D. Retail Banking Satisfaction Study. Open Banking Operations Payments Premium Retail Bank of America J.D. Power's 2019 U.S. Based on this report, released Thursday, the industry scored 807 on a 1,000-point scale, up just by one point from the 2018 report. The single point […].

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Digital Currency Eyes Wholesale — Not Retail — Payments Down Under

PYMNTS

As part of those efforts, the lab is being used to explore “whether there is a role for a digital Australian dollar — that is, an Australian [central bank digital currency (CBDC)] — in the context of the bank’s responsibilities for issuing the currency and overseeing the payments system.”.

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Dynamics, Sprint Launch Battery-Operated Payment Card

PYMNTS

Dynamics, a unit of telecommunications firms SoftBank and Sprint, announced what it is calling the first battery-powered payment card on Monday (Jan. According to a press release highlighting the new product , Dynamics said the payment card will boast fast data breach response and replacement times. Banks can distribute the card at any time and place, including retail branches, during events or even in-flight, and consumers can activate and use it immediately.

Digital Innovations In Retail, ID Verification And Banking

PYMNTS

And in retail, companies in the organic mattress space are running on a tri-brid business model that covers direct to consumer (D2C), third-party retail distribution and owned retail locations. Data: 18 : Number of brick-and-mortar mattress stores operated by Naturepedic.

Top News in Payments: Uber Halts Upfront Pricing in CA; Amex Cleared To Operate In China

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Amex Cleared To Operate In China. The central bank in China said it accepted an American Express application to start working in the country but did not say when Amex would begin operations. Retail’s 2020 Digital-First Payments Roadmap.

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Stripe Powers Digital, In-Store Payments For Lightspeed Retail, Restaurant Customers

PYMNTS

Canadian global point-of-sale (POS) and eCommerce firm Lightspeed is teaming up with Silicon Valley payments platform Stripe to advance in-store and online payments for retailers and restaurants in the U.S. retailers.

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Unattended retail struggles with mobile payments acceptance

Mobile Payments Today

Mobile payments continue to expand, making it important for operators of unattended retail equipment to invest in the technology. A speaker at the National Automatic Merchandising Association show in Las Vegas urged his fellow industry executives to get on board with the trend

Farmhouse Market’s Remotely Operated, 24/7 Grocery Store

PYMNTS

These retail models cater to customers who are on the go by offering seamless experiences and convenient payment methods. Such locations can be critical in expanding retail options for smaller cities and towns, too, and staff-free grocery store Farmhouse Market seeks to do just that for consumers in New Prague, Minnesota. The pair ultimately designed a concept that could operate without any on-site staff to solve this quandary. “We

Square is growing its platform into a one-stop shop for retailers

Bank Innovation

Square, which is best known for its physical and digital payment solutions, is building out its product ecosystem to manage nearly all of the operational needs of retailers. The goal is allow retailers to be able to easily coordinate online and offline transactions, including orders, customer relationships, inventory and more, from within the Square family […].

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Bank Of England COO Joins New Payment System Operator

PYMNTS

The Bank of England’s chief operating officer is joining the U.K.’s s New Payment System Operator (NPSO). Payments Administration’s current Deputy CEO, Jenny Crawford, is joining the NPSO as its chief people officer. The Payment System Operator Delivery Group is closing to hand down operation of the nation’s payment systems to the New Payment System Operator in an effort to streamline the payment ecosystem.

Mumbai Bus Operator To Test India’s National Transit Card

PYMNTS

India’s One Nation One Card will be test-piloted with Mumbai bus operator BEST in November, NFCWorld reported on Tuesday (Aug. The national transit card system uses a bank-issued card that will run on India’s RuPay payments network, the news outlet said. Cardholders will also have the option to pay for parking, tolls or retail purchases. Digital Payments Contactless credit card debit card india News payment card public transportation Retail Transit Payments What's Hot

How Retailers Are Gearing Up For Contactless Payments Via mPOS

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With the use of contactless payments heating up around the world, small and mid-sized businesses (SMBs) and their solution providers have to prepare for their acceptance. certification: They must, for instance, resolve issues when a payment reader’s too-powerful field strength results in damaged smartphones and cards. Last year, however, contactless payments in the United Kingdom alone jumped by a whopping 31 percent over the prior year.

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Slight Uptick Reported In Retail Rent Payments

PYMNTS

Another month of the pandemic and another first of the month when retail lease payments are due. As the crisis enters its fourth month, counting March, two new earnings reports indicate that about 60 percent of retailers are paying their rent — with a few very notable exceptions. Owner of 102 mall-based properties Retail Properties of America, Inc. However, retailers caught up by the end of the month to 60.3 percent of retail rent was collected, compared to 48.9

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Merchants And The Big Retail Reset

PYMNTS

Iain McNicoll , VP of Americas/SMB for payments platform Payoneer , recently told PYMNTS that eCommerce’s market share has risen to 27 percent from just 16 percent when the pandemic began. McNicoll said the quick gains aren’t surprising, as physical retail stores essentially closed down worldwide for months. McNicoll said his company is better positioned than a traditional lender at approving such offers, because the firm takes a wider view of a retailer’s finances.

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Ally Financial Has Milennials to Thank for Its Impressive Retail Deposit Growth

Bank Innovation

s robust marketing strategy for its retail bank has paid off, as the bank today reported that half of its new retail customers were millennials. Of Ally Financial’s 230,000 new retail deposit customers via its retail side, Ally Bank, 126,500 were millennials, according to bank’s earnings report released today. Cards Daily Post 1 Exclusive Mobile Online Open Fintech Operations Payments PFM Premium Retail Social Media Ally Bank Ally Financial social media banking

7-Eleven Franchisees: Store Operators May Need To Pay Back PPP Loans

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The National Coalition of Associations of 7-Eleven Franchisees (NCASEF) said store operators who took in federal Paycheck Protection Program (PPP) loans could potentially have to pay back a “material portion” of the funds.

TRENDING: Real-Time Payments Networks — For Real In Retail?

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financial players are still exploring the best practices to offer faster payments to corporate clients. A recent survey of 20 of the nation’s top-60 banks found that there’s a lack of consensus among banks when it comes to managing and charging businesses for real-time payments.

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Advancing Retail And Education With Digital Technology 

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In payment methods, Circle K announced a cashierless checkout pilot as convenience stores advance retail innovations. 7.3K: Minimum number of Circle K stores in operation in the U.S.

Paytronix CEO: Why Restaurants Want To Operate Their Own Ghost Kitchens

PYMNTS

That made for a robust discussion between CEO Andrew Robbins of Paytronix , which powers ordering, payments and loyalty programs for restaurants, and Karen Webster on the state of restaurants in a post-pandemic world. But Robbins added that ghost kitchens were an early solution for closing the gap because of their lower operational costs. And Uber Eats can be the restaurants’ ally as they create and ramp up takeout-only brands operating out of their own ghost kitchens.

Signs Of Recovery In Retail Sectors Amid The Pandemic

PYMNTS

265.8M: Dillard’s operating expenses for the 13 weeks ending Aug. 90%: Share of its retail square footage that Dillard’s owns. Today In Data Commerce Consumer Spending COVID-19 News payments Retail Today in Data

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US Retailers Confront Data Privacy Shifts

PYMNTS

While the advancement of open banking regulations may be seeing a small skip due to the spread of the coronavirus , many countries saw business and typical banking operations halted right after deciding upon new online privacy rules. In the latest Merchants Guide to Navigating Global Payments Regulations , PYMNTS examines the latest data privacy and online banking regulations taking shape in the United States.

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How Unattended Retail Sells Loyalty

PYMNTS

Retailers put together window displays and signs to create enticing storefronts, engage customers via social media and send printed ads through the mail. While brick-and-mortar stores can employ customer retention strategies, kiosk and vending machine operations don’t always have the same tools available. There’s a lot of complementary technologies that are being offered today that can be incorporated into the whole self-serve or unattended retail system,” he said.

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Innovation Hub Motive Labs Seeks to Solve Major Pain Points of Retail Banks

Bank Innovation

EXCLUSIVE – The two fundamental keys to most challenges retail banks and payment companies face on the innovation front are personalization and efficiency, according to Alberto Corvo, a founding partner at fintech focused investment firm Motive Partners.

Payment And Retail Integration Flows From Many Digital Fronts

PYMNTS

One of the main goals of digital payments and retail is to encourage seamless connections – and not just when it comes to transactions. Smart operators are figuring out how to integrate payments into not only the workforce, but also the workflow. A growing marketplace operator is targeting sales to cash-strapped consumers — and offering zero-interest, debit-based loans at the point of sale.

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Garmin Goes Live with Contactless Payment Feature for Latest Smartwatch

Bank Innovation

EXCLUSIVE – Contactless payment capabilities are now available on wearable maker Garmin International’s latest smartwatch. Today Garmin International, along with payment technology provider FitPay, said that its payments feature, called Garmin Pay, is now live on Garmin’s smartwatch Vívoactive 3. Cards Exclusive Features Innovations Mobile Online Open Fintech Operations Payments Retail contactless payments Garmin International payments smartwatch

Retailers And Landlords Work Together (Not Always Happily) To Save Brick-And-Mortar Stores 

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retail chain New Look made headlines this week for striking a deal to effectively receive a three-year rent holiday on 68 of its stores and massive rent reductions on more than 400 others. A survey by Datex Property Solutions found that retail rent collections rose to 68.8

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How Retailers Are Cashing In On A US Coin Shortage

PYMNTS

As the United States experiences a coin shortage due to the pandemic, some brick-and-mortar retailers are forcing consumers to tell cashiers to “keep the change.”. “The Federal Reserve is experiencing a significant coin shortage that is impacting our store operations and ability to provide change,” the company wrote on Twitter. “As Grocers are already tying loyalty programs to the contactless payment systems that many customers seem to favor in a post-pandemic world.

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Omnichannel No Longer An Option For Retail

PYMNTS

Consumers shopping in droves via eCommerce channels is hardly a piece of breaking news — for the better part of a decade, that has been obvious to anyone watching the retail space. But, as the just-released PYMNTS “ Commerce Connected Playbook: Retail Innovation Edition ” indicates, the interesting thing to watch is not that digitization is happening, but how it is happening. Operating in omnichannel is a requirement, Nicola said, to any serious merchant now more than ever.

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Today In Data: Digital Retail Innovation

PYMNTS

New technologies bring new opportunities to serve consumers, and retailers are offering their customers more digital options than ever to meet their wants and needs. 56 percent: The percentage of retailers that say they innovate to meet consumer demand for new payment methods.