Payments News

On The Web

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Users

NY Lawmakers Propose Electronic Payment Platform for the Unbanked

“More than one in four Americans lack adequate access to credit. Nationally, the Federal Deposit Insurance Corporation (FDIC) reports that 6.5 percent of households are unbanked and 18.7 percent are underbanked. How can this be remedied? One option that NPQ has covered would be to activate the US postal system to provide limited banking services, a practice […]
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Users

Kohl’s CEO Michelle Gass: ‘Amazon Is Working’

“Kohl’s CEO Michelle Gass says the retailer’s partnership with Amazon is going well, despite Kohl’s reporting dismal holiday sales that cast doubt on the strategy. “I get this question, ‘Is Amazon working?’” Gass said Sunday at the National Retail Federation’s annual Big Show in New York, in an interview with CNBC’s Courtney Reagan . “Amazon […]
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Users

You may be surprised by who carries the most credit card debt

“Turns out, Americans with a net worth of more than $100,000 are more likely to have credit card debt than people who have a negative net worth. Taking a deep dive into the numbers, 58 percent of people with this level of net worth owe at least $2,500, and 39 percent are carrying at least $5,000, Bankrate.com […]
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Deals

Swedish Tech Start-Up Bambuser Gears Up to Expand Livestream Shopping

“Swedish tech startup Bambuser is looking to raise 100 million crowns ($10.5 million) via a rights issue to fund an expansion of its live video shopping technology, as the novel way of purchasing finds its way to the West. In China, live video shopping – the convergence of e-commerce and livestreaming – boomed last year.”
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Users

After Bankruptcy, Nearly Half of Retailers Close All StoresSecured creditors are recovering all or most of their investments when retailers file for bankruptcy protection, even as nearly half these companies don’t survive with a physical presence, according to Fitch Ratings research. Among large retail and supermarket chains that filed for bankruptcy protection over the past 15 years, 45% closed all of their stores, the ratings firm said in a new report. Fitch found that the bankruptcies of 25 out of 55 retail and supermarket companies ended in liquidations.

“Secured creditors are recovering all or most of their investments when retailers file for bankruptcy protection, even as nearly half these companies don’t survive with a physical presence, according to Fitch Ratings research. Among large retail and supermarket chains that filed for bankruptcy protection over the past 15 years, 45% closed all of their stores, […]
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Glenbrook

Merchant Payments Operations: Reporting and Analytics

“In Kavita Jiandani’s post Assessing a Merchant’s Payments Operations , she introduced Glenbrook’s methodology for our in-depth assessment of a merchant’s payments operations. In her introductory piece, Kavita highlights the major Key Assessment Areas we evaluate during each engagement. In this Payments Views entry, I continue with a focus on one of the Key Assessment […]
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Users

Supermarkets of the Future Will Be Built on Service – so Invest in Payments

“In store, active service includes the form of payment at the end of the customer journey. Fitch research has shown that payment is one of two integral factors that contribute to a positive shopping experience. Retail experiences are defined by ‘peaks’, the emotional high point for the customer, and the ‘end’ – usually payment before departing. […]
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Users

Kabbage Launches Custom Loans for Small Business

“Kabbage Inc., a provider of cash-flow solutions to small business, announced the launch of a custom loans program for Kabbage Payments customers. The program allows small businesses to get anywhere from a three-day to 45-day loan that they may repay in full or allocate 100% of Kabbage Pay revenue toward the balance.  Custom loans have a […]
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Users

Grocery Delivery Goes Small With Micro-Fulfillment Centers

“Grocers looking to fill online orders more quickly are testing micro-fulfillment systems that can spit out as many as 4,000 orders a week but can still be housed in the back of stores or in urban areas where space is at a premium. The store owners are evaluating whether automation can help tamp down costs […]

On The Wires

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Users

Mastercard SpendingPulse: U.S. Retail Sales Grew 3.4 Percent This Holiday Season

“Retailers have much to cheer about this holiday season. According to Mastercard SpendingPulseTM , holiday retail sales increased 3.4 percent (ex auto) with online sales growing 18.8 percent compared to 2018. Mastercard SpendingPulse provides insights into overall retail spending trends across all payment types, including cash and check.”