Why ‘pay-by-bank’ faces adoption hurdles in US retail
Payments Dive
FEBRUARY 5, 2024
Pay-by-bank has been catching on only slowly, and it’s a particularly long shot for showing up at the point-of-sale anytime soon.
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Payments Dive
FEBRUARY 5, 2024
Pay-by-bank has been catching on only slowly, and it’s a particularly long shot for showing up at the point-of-sale anytime soon.
Accenture
OCTOBER 4, 2021
Credit Product Penetration of Retail Sales Shopping experience refresh “We are excited to pilot a virtual store staffed by dedicated associates … but with no physical customers. The post Q2 2021 US retailer payments commentary appeared first on Accenture Banking Blog.
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Perficient
DECEMBER 10, 2020
Perficient is excited to present Retail Roundtable: A Year of Change in E-commerce and Supply Chain with the Dallas Business Journal. With that, our shopping habits have changed, altering the ways retailers are doing business. However, many retailers only had mere weeks to ramp up programs to support these new shopping habits.
Perficient
NOVEMBER 17, 2023
Now, we will delve into the stability of retail deposits from the same bank over the same timeframe, determining whether they were resilient compared to transaction accounts. Deposit Balances Over Time Data for the publicly traded multi-state bank was sourced from US Bank Locations. Contact us today!
Payments Dive
DECEMBER 4, 2023
expects its pay-by-bank services for bank clients will eventually lure retailers. The fintech, founded in the U.K. and now building up operations in the U.S.,
Bank Innovation
FEBRUARY 24, 2020
You’ll see us likely launch a direct-to-consumer bank in the United States sometime at the end of this year or early next year, really focused on a higher net worth customer, not dissimilar to some of […]. Royal Bank of Canada plans to launch a direct-to-consumer bank in the U.S. in hopes of reaching affluent consumers.
Payments Dive
JULY 24, 2020
US Bank is deploying natural language processing and AI-based technology to move more of its retail banking business onto the mobile banking app.
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.
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.”. Not only will those customers give the grocers some personal information in doing so, but they’ll presumably revisit the retailer in the future to spend their unused change.
PYMNTS
MARCH 27, 2020
This can leave merchants and retailers operating online platforms in various states caught in the middle, said Nicholas Ahrens, vice president of innovation for retailer trade group the Retail Industry Leaders Association (RILA), in a recent interview with PYMNTS. US Open Banking Fragmentation And Its Impact On Merchants.
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.
PYMNTS
JANUARY 26, 2021
In today’s top retail news, the U.S. L’Occitane’s US Unit Enters Bankruptcy As Part Of Lease Negotiations . L’Occitane’s US Unit Enters Bankruptcy As Part Of Lease Negotiations . NY Fed: US Consumer Optimism Surges For Long Term. From Community Hubs To In-Store Theater, Retailers Double Down In Digital At NRF.
PYMNTS
SEPTEMBER 7, 2020
4) jobs report brought good news to the nation’s retail sector as it added nearly one quarter of a million jobs in August. It’s encouraging to see retailers bring back these jobs,” Sonia Lapinsky, a managing director at AlixPartners, the Michigan-based consulting firm, told the newspaper. Last Friday’s (Sept. and Costco Wholesale Corp.
PYMNTS
MAY 27, 2020
Apple , which runs 510 retail locations throughout the globe, intends to open roughly 100 U.S. A representative of Apple said in a statement per the outlet, “This week we’ll return to serving customers in many US locations.” stores this week. Apple’s locations, for their part, many times anchor key shopping centers or areas.).
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?
Accenture
MARCH 11, 2021
Key themes Purchase volume continued to show signs of recovery as all issuers reported QoQ growth in spend and some had YoY growth; Alliance Data posted the strongest QoQ growth of ~25%, likely as a result of easing retail lockdown restrictions. The post Q4 2020: US credit card issuer snapshot appeared first on Accenture Banking Blog.
PYMNTS
JANUARY 11, 2021
retail jewelry industry. 2020 was a big year for B2B eCommerce in general as sellers connected with customers and buyers used the tech for sourcing and procuring goods the way they would for regular retail shopping. On Friday, Goldiam's stocks were trading in the green, an India Infoline report said.
PYMNTS
JUNE 23, 2020
Some of the largest online and brick-and-mortar retailers in the United States have spent more than $7 billion for everything from Plexiglas partitions and face masks to extra pay since the coronavirus crisis hit in March. Testing alone will cost the company $300 billion in the second quarter, and $1 billion during 2020.
PYMNTS
DECEMBER 27, 2020
Across our expanded 75-day holiday shopping season , sales were up 3.0%, a testament to the holiday season and strength of retailers and consumers alike.”. The National Retail Federation had forecast an increase for the season, year over year, of between 3.6 retail locations this year compared to last, the Journal reported.
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.
PYMNTS
NOVEMBER 18, 2020
A rebound in retail sales in the United States has resulted in a quicker than expected resurgence in shipping demand, with Maersk now expecting EBITDA to weigh in between $8 billion and $8.5 Shipping giant Maersk is predicting a better 2021 in a move that bodes well for the battered but now recovering global economy.
Payments Dive
APRIL 18, 2019
Sporting goods retailer Decathlon is testing the limits of cashless retail with technology firm NewStore, which developed an iPhone-based ominichannel platform to transform the store experience.
PYMNTS
SEPTEMBER 16, 2020
Retail sales increased in August to $537.5 Most of the retail categories saw improvements last month. Most of the retail categories saw improvements last month. General merchandise retailers saw sales increase to $60.3 June saw total retail sales rise to $524.3 retail and foodservice firms. . billion, up 0.6
PYMNTS
DECEMBER 26, 2018
Months after Toy R Us sought to liquidate its holdings in the United States, merchants have taken up space left behind by the toy retailer. Green Street Advisors, a real estate research firm, wrote in a note, “Many Toys R Us leases have significant remaining term at rents that are well below market.”.
PYMNTS
JANUARY 17, 2020
Commerce Department, retail sales were up for the third consecutive month as of December of last year, and buying was broad-based across several categories – with the exception of autos. In terms of headline numbers, retail sales overall were up 30 basis points. Looking beyond the sequential showings, December retail sales were up 5.8
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. Pop-Ups R Us.
PYMNTS
JANUARY 23, 2019
this year as the leading retail market around the world. According to eMarketer’s worldwide retail and eCommerce forecast, in 2019 China’s total retail sales are forecast to increase 7.5 That compares to retail sales in the U.S. That means China’s retail sales are expected to surpass the U.S. percent of retail.
PYMNTS
MARCH 2, 2020
s most high-profile retailers is doing well in the U.S. and another one is ready to open, both of them seeking a new market as their home turf sees retail struggles. s fastest growing brick-and-mortar retailer, Wren Kitchens. And also in training our retail staff to offer the customer a fantastic service.”.
Accenture
AUGUST 31, 2020
Alliance Data and American Express, in particular, experienced a 30%+ decline in spend YoY, driven by the headwinds of store-based retail (ADS) and T&E sectors…. The post Q2 2020: US credit card issuer snapshot appeared first on Accenture Banking Blog.
PYMNTS
DECEMBER 13, 2019
As Americans reduced their discretionary spending, retail sales in the United States rose by a level that was lower than expected in November. The Commerce Department said retail sales increased 0.2 percent last month, and data from October was revised to indicate that retail sales rose 0.4 percent in lieu of climbing 0.3
Payments Dive
MAY 20, 2022
Instead of collecting fees from retailers to move merchandise from their shelves, Zilch is linking with brands like Sephora and Nike to lure consumers looking to finance their purchases through installment payments.
Payments Dive
OCTOBER 9, 2018
Restaurant and retail executives that gathered in Chicago this past summer for the Networld Media Group's annual CONNECT: The Mobile CX Summit shared their thoughts with us about the hottest trends in mobile technology in this exclusive video.
PYMNTS
JANUARY 16, 2020
With a late shopping rush around the holidays that ended a more moderate spending year, retail sales in the United States strengthened in December. Retail sales rose 0.5 The retail “control group” sales rose 0.5 Retail sales rose 3.6 The Commerce Department said retail sales increased 0.2 percent and rose 5.8
PYMNTS
NOVEMBER 9, 2020
For most of us, a stroll down the chilled or frozen food aisle in the supermarket is essentially an in-store version of window shopping. From a business standpoint, we believe that things like sales lift are obviously a really important metric,” Dravenstott said, “and you don't hear that much in brick and mortar retail.
PYMNTS
MARCH 20, 2020
CNBC’s Jim Cramer said on Friday (March 20) that he’s worried one of the consequences of the coronavirus pandemic will be that there will be only three retailers left in the U.S., If we come out of this later, there are going to be three retailers in this country,” the “Mad Money” host said. according to a report by CNBC. “If
PYMNTS
JANUARY 6, 2019
Despite a record-breaking holiday season for retailers in 2018, the strength of the industry’s recovery is being called into question as data emerges that shows declining traffic in stores and a slowdown in the rental growth at malls. For the last quarter of 2018, The Financial Times reported the price of rent increased 0.8
PYMNTS
MARCH 18, 2020
retail sales declined last month in the biggest drop in a year. And retail sales , with the exclusion of fuel and automobiles, fell 0.2 As previously reported, retail sales increased a seasonally adjusted 0.3 As consumer spending started to decelerate prior to COVID-19 containment measures, U.S. percent in January from December.
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.
PYMNTS
MARCH 11, 2019
With a rise in discretionary spending and building materials purchasing, retail sales in the U.S. At the same time, however, it was noted that retail sales fell by 1.6 During the month, mail-order and online retail sales notched their largest gain as of December 2017 at 2.6 increased by 0.2 percent in January.
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.” Australia and the U.K., ahead of Christmas, Bloomberg reported. Tru Kids Inc.
Payments Dive
DECEMBER 6, 2022
The retail giant is serving as a technology vendor to an independent grocer reopening soon in Kansas City, Missouri.
PYMNTS
MARCH 18, 2019
Weaker-than-expected holiday spending has led to concerns that it’s the start of a retail slowdown, leading Wall Street to slash profit estimates. retailers saw their estimates reduced during the past three months, with estimates only increasing for 16. In December retail sales dipped 1.6
PYMNTS
JANUARY 25, 2021
In today’s top retail news, Cox Automotive has released its Complete Retail online experience, and Pinterest is introducing an augmented reality (AR) try-on tool to help users with testing and comparing eye shadow. Cox Automotive Launches End-To-End Car Retail Experience. Cox Automotive Launches End-To-End Car Retail Experience.
PYMNTS
DECEMBER 14, 2020
Although the installment concept is hardly new, Afterpay’s platform and growing catalog of retailers has brought fame and fortune to the company and its founders. A big part of Afterpay’s growth stems from the fact that its super-simple service is appealing to both customers and retailers alike. Preference For Debit. million U.S.
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