Banked builds a US presence
Payments Dive
DECEMBER 4, 2023
and now building up operations in the U.S., expects its pay-by-bank services for bank clients will eventually lure retailers. The fintech, founded in the U.K.
HSBC Weighs Shutting US Retail Banking Unit
PYMNTS
NOVEMBER 30, 2020
retail banking operations after four decades trying to build a strong presence in the country, the Financial Times (FT) reported. FT based its report on unnamed sources, stating the bank is weighing "a complete exit from retail banking in the U.S. The situation is serious enough that exiting retail banking in the U.S.
Retail 
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Trending Sources
Lloyds Bank’s operating costs up 11% YoY
BankInovation
APRIL 24, 2024
Lloyds Bank reported an increase in operating costs in the first quarter driven by higher inflation and increased investment in technology. Cost management remains a core discipline for us as a group,” Chief Financial Officer William Chalmers said during the bank’s earnings call today.
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Retail Pulse: Toys R Us Returns With Small Retail Stores
PYMNTS
JULY 19, 2019
Iconic brick-and-mortar retailers are sometimes reinvented, and return to the world of retail with smaller-format concepts. The parent of the Toys R Us brand, Tru Kids , plans to bring stores under the legendary name to the United States for the 2019 holiday season. In Other Brick-and-Mortar News.
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How Retailers Are Cashing In On A US Coin Shortage
PYMNTS
JULY 14, 2020
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.
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US Retailers Confront Data Privacy Shifts
PYMNTS
MARCH 27, 2020
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. US Open Banking Fragmentation And Its Impact On Merchants. To find out more about how U.S.
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Why The Biggest US Retailer Will Stick To Stamps
PYMNTS
MARCH 12, 2020
Quick: Who’s the biggest retailer in the U.S.? In terms of sheer size and locations, the United States Postal Service (USPS) is the biggest retailer in the country, with 31,000 locations covering pretty much every town. Now, a new report is asking a good question: What if the post office expanded its retail offerings?
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Toys R Us Eyes Liquidation Of US Operations
PYMNTS
MARCH 9, 2018
Beleaguered toy retailer Toys R Us is in the midst of prepping plans to liquidate its U.S. operations, currently in bankruptcy, according to recent Bloomberg reports. The plans come as the company has yet — and the emphasis may be on “yet” — to find a buyer for those operations or finalize its debt restructuring plans.
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US Retail Sales Up 2.4 Pct From Nov To Dec 24
PYMNTS
DECEMBER 27, 2020
Holiday sales rose this year compared to last but failed to meet many analysts’ expectations and were especially disappointing for brick-and-mortar operators, according to a variety of data sources. The National Retail Federation had forecast an increase for the season, year over year, of between 3.6 percent from Nov. percent and 5.2
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Post-Toys R Us, Retailers Vie For Experiential Toy Shoppers
PYMNTS
DECEMBER 11, 2018
Retailers are doubling down on toys amid a gap in the market left by the bankruptcy of Toys R Us. toy retailer Hamleys , for instance, is eyeing a potential New York City location for a flagship store. The atmosphere comes as brick-and-mortar retailers have to differentiate themselves from their eCommerce counterparts.
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Sage, Brightpearl Team Up To Boost Cloud-Based Retail
PYMNTS
DECEMBER 28, 2020
Sage , which works in cloud business management, is working with digital operations platform Brightpearl on helping retailers utilize the cloud for their operations, a press release says. Sage Chief Operations Officer Lee Perkins said the move would be good as businesses started to recover from the impact of the pandemic. “As
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How Toys R Us’ Demise Could Benefit Amazon And Other Retailers
PYMNTS
MARCH 22, 2018
One retailer’s loss could be another retailer’s gain: Even though Toys R Us is facing bankruptcy, other retailers may benefit from the embattled toy retailer’s demise. Amazon could take over some of Toys R Us’ stores, which may be soon vacant as the retailer winds down its operations.
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Bankrupt Toys R Us Aims For Retail Revival
PYMNTS
FEBRUARY 12, 2019
Even with the liquidation of Toys R Us operations in the U.S., consumers can engage with Toys ‘R’ Us and Babies ‘R’ Us again this holiday season.” consumers can engage with Toys ‘R’ Us and Babies ‘R’ Us again this holiday season.” Currently, the company operates more than 550 stores in the region.
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Barneys, Pier 1 And Other Iconic-But-Bankrupt Retailers Are Coming Back To Life
PYMNTS
JANUARY 21, 2021
Plenty of famous retail chains have collapsed both before and during a pandemic that has slammed brick-and-mortar stores, but some iconic names like Pier 1 , Barneys New York and others are coming back – at least in some fashion. Toys ‘R’ Us and Charming Charlie Are Back, Small Time. The chain eventually closed all U.S.
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European Mall Operator Citycon Works On BOPIS Service
PYMNTS
SEPTEMBER 17, 2020
To enable customers to shop from the complete selection of multiple mall offerings and retrieve their purchases from one place, European mall operator Citycon is creating a buy-online-pick-up-in-store (BOPIS) service. Citycon runs 40 shopping centers throughout Estonia and the Nordic nations, Bloomberg reported.
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Retailers Look To Bid On Toys R Us Stores
PYMNTS
MARCH 29, 2018
With several Toys R Us stores on the auction block, several national retailers have shown an interest in the embattled toy retailer’s brick-and-mortar locations. Other retailers interested in the locations include Ashley Furniture and Food Bazaar. Toys R Us stores are headed to auction.
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Big US Mall Operators Look To Sports Entertainment For Growth
PYMNTS
JUNE 28, 2019
Malls are not exactly the hotspots of coolness and retail activity they once were. But operators of some of those shopping destinations continue to wield investment power as malls undergo remakes for the 21 st century. retailers so far this year than in all of 2018. is still operating, but renovations will start later this year.
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New Toshiba Commerce System Offers Retailers ‘Amazon Go At Scale’
PYMNTS
JANUARY 14, 2021
Retailers made all sorts of quick pivots to their eCommerce sites as the pandemic unfolded, but in-store legacy technology proved to be an obstacle for many of them. We’ve lived through COVID with them … and our new platform is something that allows us to expand that end-to-end strategy.”. Unveiled Wednesday (Jan. Enter Elera.
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Toshiba Rolls Out Unified Commerce Platform For Retailers
PYMNTS
JANUARY 13, 2021
Toshiba Global Commerce Solutions unveiled its ELERA unified commerce platform that will let merchants operate without the bounds of traditional retail IT infrastructures, according to a Wednesday (Jan. ELERA is currently used by the high-volume retail grocery and general merchandise verticals.
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From Community Hubs To In-Store Theater, Retailers Double Down In Digital At NRF
PYMNTS
JANUARY 25, 2021
The National Retail Federation ’s annual convention may have come and gone but the sentiments, strategies and lessons learned from facing nearly a year of pandemic-led changes by some of the world’s largest merchants are going nowhere fast — especially when it comes to their embrace of increased digitalization. Stores As Social Centers.
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Toys R Us Is Going Strong In Asia
PYMNTS
JANUARY 7, 2019
While Toys R Us has disappeared from the United States, it is going strong in Asia, which plans to open 60 new stores throughout the region this year. It currently operates more than 550 stores in the region. It currently operates more than 550 stores in the region. “We This follows Toys R Us shuttering all of its U.S.
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US Treasury Tells Banks To Treat Hemp Businesses Like Any Other
PYMNTS
JULY 5, 2020
The reminder is intended for banks with clients that include marijuana retailers or individuals that grow, process, or manufacture pot. a Nevada-based, publicly-traded company that owns processing centers and a 5,000-square-foot retail store in Arizona, praised FinCEN’s update. Hemp Inc.,
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REIT Predicts U-Shaped Retail Recovery
PYMNTS
AUGUST 7, 2020
Retail Properties of America ( RPAI ), which owns and operates 102 multi-retail sites, showed a net income drop from $44.4 One of the largest real estate investment trusts in the U.S. reported earnings this week with the expected decrease in revenue, but an optimistic look at reopening. million to $15 million this year.
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Hobby Lobby May Take Up Shop In Former Toys R Us Stores
PYMNTS
JULY 6, 2018
Following the closure of Toys R Us stores in June, retailers in the hobby and off-price segments may fill some of the larger empty big-box spaces. In January, the hobby retailer had arrived at a store count of 800 and, in June, the retailer had seven new stores. Months after Toys R Us announced it would liquidate its U.S.-based
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BNPL Provider Openpay Launches In US
PYMNTS
DECEMBER 16, 2020
Openpay also operates in Australia, New Zealand and the U.K. In February, Openpay signed a deal with Australian grocery retailer Woolworths to work more in the B2B space, PYMNTS reported. "We are very excited to have commenced the launch of our consumer BNPL and B2B offerings into the U.S.,
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Black Friday Loses Deep Discount Retail Strategies
PYMNTS
OCTOBER 23, 2020
Despite the fact that many retailers are creating their own versions of Black Friday, the traditional one that happens the day after Thanksgiving will still occur as a retail event. That’s the take from Edited , a retail tracking platform that advises brands on pricing and merchandising strategies.
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Mastercard Selects New President For European Operations
PYMNTS
MAY 4, 2020
He will be tasked with developing strategy, direction and comprehensive success of Mastercard’s operations across 53 countries in Europe. Mastercard’s European businesses cater to more than 950 million people via business partnerships with retailers, financial institutions (FIs) and other companies.
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Nordstrom Becomes First Digital Majority Brick-And-Mortar Retailer
PYMNTS
NOVEMBER 24, 2020
It became the first brick-and-mortar retailer to earn the majority of its revenue from eCommerce as 54 percent of its third-quarter take came from digital channels. “We But we also know that we must translate the heritage of service that defines us more effectively in this digitally connected world.
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AI-Powered Robots Help Retailers Build Cleanliness As ‘Brand Value’
PYMNTS
MAY 12, 2020
Not the humanoids that are the stuff of science fiction that ostensibly, one day, will do our bidding (and, depending on who you read, perhaps conspire against us). told Karen Webster that retailers and other firms are going to need to consider “cleanliness as a brand value.”. Brain Corp.
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Toys R Us Stops eCommerce Sales
PYMNTS
APRIL 2, 2018
As Toys R Us winds down its operations, it is no longer accepting eCommerce orders through its website. Instead, the retailer is directing customers to liquidation sales at its brick-and-mortar stores for both its namesake and Babies R Us brands, industry news source Chain St ore Age reported.
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Crafting An (Online) B2B Market For Retailers
PYMNTS
OCTOBER 8, 2020
The digital shift may transform retail storefronts in Europe. To that end, in Europe, Czech firm Nulisec has debuted an online B2B marketplace focused on European retailers — geared toward improving sales and procurement processes. At the moment, retailers are hostages of their local suppliers,” he said.
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Toys R Us Turns Down Bid For US Stores
PYMNTS
APRIL 19, 2018
Lawyers and advisers for Toys R Us have reportedly turned down a last-minute bid for the retailer’s U.S. Larian had made an offer of $675 million for the Toys R Us stores in the U.S. In addition, he bid $215 million for the retailer’s operations in Canada. including those under the Babies R Us banner.
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Reliance Makes $3.4B Offer For India’s 2nd Largest Retailer
PYMNTS
AUGUST 30, 2020
India's retail competition between Walmart ’s Flipkart , Amazon and Reliance Retail Ventures is expected to intensify. 29) that it plans to buy Future Group ’s retail divisions for 247 billion rupees ($3.4 Mumbai-based Future Group, India's second-biggest brick-and-mortar retailer, is a conglomerate founded by Kishore Biyani.
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Mercari US CEO: Modernizing Marketplaces For The Casual Seller
PYMNTS
AUGUST 10, 2020
We’re talking lay sellers, not savvy operators with digital storefronts. Mercari’s strategy from the get-go has been mobile-first, “even though web is increasingly a big presence for us now, with people spending more time on desktop computers,” he said. Spiking sales volumes couldn’t stem operating losses of 19.3
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Walgreens Follows Amazon And Walmart Into The Retailer-as-Ad-Agency Trend
PYMNTS
DECEMBER 4, 2020
The hot new thing in “Big Retail” is offering in-house advertising on your website to your vendors – because why get paid only once on a purchase if you can get paid twice? In short, retailers get paid to place the ad, and then get paid again when the merchandise is sold.
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The Show Will Go On For Toys R Us Stores Outside The US
PYMNTS
APRIL 26, 2018
Bankruptcy may not spell the end for Toys R Us stores – at least outside of the U.S. The embattled retailer’s stores will get a second chance at retail life in Canada and Europe. Those stores might retain the Toys R Us name. Smyths could use the acquisition to grow its brand across Europe. The Toys R Us Saga.
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132 UK’s Top Retailers Face Tough Online Competition From US-Based Sites
PYMNTS
MAY 8, 2017
The UK’s top retailers are facing tough competition online from U.S.-based s top 10 retail companies as ranked by unique visitors to their desktop brand sites. apparel retailer Next and grocery chain operator J Sainsbury (Sainsbury’s) from the top 10 list. The additions displaced U.K.
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A Bank Automation Summit Preview: Dissecting the Intersection of Real-time Payments and Automation
Perficient
FEBRUARY 27, 2023
The payments industry is no different, and we’re quickly approaching a new intersection point due to the Real-time Payments’ movement into the US. These days, as the US prepares to embrace real-time payments in 2023, the intersection of real-time payments and automation has become a key point of discussion.
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US eCommerce Up 49 Pct; Curbside Pickup Soars 208 Pct Since April 1
PYMNTS
APRIL 27, 2020
Dozens of retailers, from Dick’s Sporting Goods to Walmart , have added contactless shopping services, and it’s caught on. increased 49 percent from March 12 to April 11, compared to March 1 to March 11 after a review of internet transactions from 80 of the top 100 internet retailers. . Retailers are trying to figure it out.
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Brooks Brothers Leads More Fashion Retail Troubles
PYMNTS
JULY 8, 2020
The retail world was rocked by more bankruptcy news on Wednesday (July 8), as Brooks Brothers officially announced its long-rumored bankruptcy and women’s fashion icon Ann Taylor was reported to be preparing for a Chapter 11 filing. The filing in Delaware allows the retailer to stay open while it crafts a plan to emerge from Chapter 11.
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Toys R Us Asia Gets Billion Dollar Bids
PYMNTS
APRIL 12, 2018
As Toys R Us proceeds with plans to sell some of its business outside the U.S., the retailer has reportedly received bids of more than $1 billion for 85 percent of its business in Asia. Bankruptcy Court that the company was far along in talks with a buyer for its operations in Central Europe. and the U.S., Reuters reported.
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Domino’s Reports 14.8 Pct Global Retail Sales Growth
PYMNTS
OCTOBER 8, 2020
8) global retail sales growth excluding foreign currency impact of 14.8 During the third quarter, the pandemic continued to drive a favorable tailwind for food delivery, coupled with a challenging operating environment,” Domino's CEO Ritch Allison said on a call with analysts in terms of the company’s U.S. Domino’s Pizza, Inc.
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Rite Aid Rebrands, Reconfigures Retail Experience
PYMNTS
NOVEMBER 9, 2020
We’re charging forward on our journey to revitalize the chain drug store experience — store by store, community by community — and today we’re ready and excited to invite customers to join us on this journey,” said Rite Aid Chief Operating Officer Jim Peters.
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Simon Properties Earnings Show Positive Trends For Brick-And-Mortar Retail
PYMNTS
NOVEMBER 9, 2020
“Despite COVID-19, we are encouraged by the increases we are seeing in shopper traffic, retailer sales and tenant rent collections across our portfolio,” CEO David Simon said in a statement. “We The company also announced that its portfolio net operating income for the period declined 22.4
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