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Bringing Biometric Payments To Retail

PYMNTS

And, in retail, wellness innovators are personalizing vitamin subscriptions for better self-care, while disruptors are aiming to replace heavy parking structures with automated towers. 2004: The year Piggly Wiggly began piloting a fingerprint scan-based payments system. In disbursements news, a sizable portion of U.S.

Retail 148
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Why Does The Path To Retail Innovation Go Through So Many Labs?

PYMNTS

It’s not enough to be a retailer these days, not if a merchant intends to survive in a world of commerce dominated by the likes of Amazon and other tech-focused competitors. PYMNTS readers can be forgiven if they view innovation labs (no matter the label) as something that verges on retail fad. New Efforts.

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Shopify’s Grand Retail Experiment

PYMNTS

While the shift to the online space is often seen as the great game-changer in retail, Loren Padelford, vice president and general manager of Shopify Plus , said that the change is actually to something more fundamental. A lot of traditional merchants and retailers are struggling with that change.

Retail 130
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PayPal Sells Consumer Loans to Long-Time Partner Synchrony Financial

Bank Innovation

Synchrony Bank has been PayPal’s banking partner since 2004. Yesterday, the San Jose, Calif-based PayPal said it agreed to sell $5.8 billion in consumer credit receivables to Stamford, Conn-based Synchrony Bank, a unit of Synchrony Financial. In addition to selling its credit […].

San Jose 199
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Lending standards slip, risk increasing according to OCC

Abrigo

This type of easing is similar to that experienced between 2004 and 2006, the time period leading up to the financial crisis, which many attribute to inadequate lending standards. This is the third year in a row the OCC has reported a decrease in underwriting standards for commercial and retail loans.

Lending 223
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Amazon Expands Palm Biometrics In Seattle 

PYMNTS

“The service is designed to be highly secure and uses custom-built algorithms and hardware to create a person’s unique palm signature,” Dilip Kumar , vice president of Amazon Physical Retail, said in a press release. “We Amazon is not the first company to launch palm-reading tech and so far, it hasn’t had long-term success.

Seattle 207
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Hurricane Florence’s Retail Punch

PYMNTS

The effect is pronounced enough that since 2004 Walmart has been stocking extra Strawberry PopTarts in its stores when a weather emergency is forecast because their sales spike every time. billion in consumer and retail sales (including restaurants) were lost to Irma, while Hurricane Harvey cost businesses around $1 billion.

Retail 135