Weekly Wrap: Visa acquires Plaid and retailers embrace fintech
Bank Innovation
JANUARY 17, 2020
Welcome to the latest episode of our Weekly Wrap video series, for the week ending Friday, January 17, 2019.
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Bank Innovation
JANUARY 17, 2020
Welcome to the latest episode of our Weekly Wrap video series, for the week ending Friday, January 17, 2019.
Perficient
MARCH 10, 2021
” SNC (pronounced like the candy bar but without the “ers”) stands for the Shared National Credit Program, which, since 1977, has assessed risk in the largest and most complex credits shared by multiple regulated financial institutions. percent in 2019 to 12.4 percent in 2020. percent vs 22.3 Total Outstanding.
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PYMNTS
JANUARY 18, 2021
Every year for the last 110 years , members of the retail trade group, known as the National Retail Federation (NRF), have assembled to discuss the slate of issues pertinent to its members. COVID-19, of course, didn’t cause physical retail’s steep decline — it just accelerated it. Like this one.
PYMNTS
JANUARY 26, 2021
In today’s top retail news, the U.S. The retailer said the move is part of a plan to execute a “store footprint optimization plan, including the contemplated exit of unprofitable locations.” percent seen in December 2019. From Community Hubs To In-Store Theater, Retailers Double Down In Digital At NRF. L’Occitane’s U.S.
PYMNTS
JANUARY 2, 2020
As online shopping powers a forecasted 26 percent year-over-year volume surge on National Returns Day, the United Parcel Service (UPS) foresees shipping 1.9 He estimated that yearly worldwide losses from retail returns are almost $1 trillion – higher than 2015’s $600 billion. million gifts and other products back to U.S.
PYMNTS
SEPTEMBER 17, 2020
Four consecutive months into positive consumer spending trends, one wonders if there might be — indeed must be — a lull, a pullback that might indicate a tougher road ahead for retailers headed into the all-important holiday spending season. Census Bureau reported that retail sales in August were up 60 basis points over July.
PYMNTS
NOVEMBER 10, 2020
Global branded payments provider Blackhawk Network has acquired National Gift Card , one of the biggest North American prepaid tech and card companies, according to a press release emailed to PYMNTS. Together, we drove almost $3 billion in gift cards and prepaid products for loyalty, rewards and employee recognition programs in 2019 alone.”.
PYMNTS
MAY 16, 2019
Death, taxes and data breaches – those are perhaps the only sure things in life, and new evidence is emerging that hackers are finding increasing profit in targeting online retailers. The news comes amid yet another online retail cyberattack, this one targeting Japan’s Fast Retailing, the company that owns the Uniqlo retail chain.
PYMNTS
DECEMBER 2, 2020
United Parcel Service (UPS) is limiting shipping volume for big retailers like Nike and Gap as a means of keeping up with eCommerce delivery demands, according to a report in The Wall Street Journal on Wednesday (Dec. Retailers are now largely dependent on online sales and home delivery. in October.
PYMNTS
JANUARY 1, 2019
But relatively high stock prices and access to more capital remain prime temptations, and there is little doubt that 2019 will bring more than few exciting — and telling — IPOs. An IPO reportedly could happen in the second half of 2019. Securities and Exchange Commission that sets the stage for it to go public. Is an IPO in play?
PYMNTS
JULY 6, 2020
If your business touches retail in any way, it might pay to follow a few important breadcrumbs. million in sales from selling 15,000 cases since its launch in 2019 — to build a strong digital presence. Worse yet, some analysts fear the triggering of break-lease clauses for retailers in malls if anchor stores leave.
PYMNTS
JULY 22, 2020
The retail industry is facing its first sales event of the pandemic with the coming of back-to-school sales. The projections were led by the National Retail Federation (NRF) this week, as it foresees record sales for back to school. billion in 2019. Second, are retailers removing friction from the buying process?
PYMNTS
JANUARY 20, 2020
New evidence of that — part of the broader trend of the existential changes in the world of brick-and-mortar retail, changes that are gaining more focus this month — comes from reports that stationery chain Papyrus is closing up shop. The chain had since expanded to some 260 or so retail locations. Total retail growth was 3.8
PYMNTS
APRIL 17, 2019
The race to 5G retail is on. Recent news out of Asia serves as solid foreshadowing of how 5G could enhance retail in the coming few years. 5G Retail Plans. South Korea’s SK Telecom and retail conglomerate Shinsegae Group have joined forces on 5G retail, for instance. Even so by the latter part of 2019, the U.S.
PYMNTS
AUGUST 7, 2020
For retailers, it’s better to be hot in 2020 than top. The National Retail Federation (NRF) said on its blog this week that the Hot 100 Retailers, while vulnerable to mergers and acquisitions, as a group is more stable than the Top 100 Retailers ranking, as stores are impacted by the unpredictability of COVID-19.
Bank Innovation
JANUARY 2, 2020
Gartner’s Digital IQ Index for 2019 surveyed 80 banking and financial brands, including national banks, regional banks, online banks and fintech startups. It examined 1,200 data […].
PYMNTS
DECEMBER 3, 2019
Thanksgiving outlived Lincoln, and every president that followed him offered the same proclamation every year declaring a national day of Thanksgiving to be celebrated on the last Thursday in November. There was the small matter of a raging depression — and retailers argued that the shortened shopping season could do them in.
PYMNTS
JUNE 15, 2020
As the growing app economy has brought innovation throughout 175 nations, Apple said Monday (June 15) the App Store ecosystem fostered $519 billion in sales around the world just last year. Mobile commerce apps brought in most of the sales in that area and retail was the biggest, arriving at $268 billion.
PYMNTS
JUNE 24, 2020
While web users have harnessed eCommerce in numbers that haven’t been seen before amid the COVID-19 heath crisis, eMarketer forecasts the worldwide retail online shopping sales will slow down to a 16.5 percent in 2019. percent of retail sales, Western Europe will account for 16.2 percent growth rate this year down from 20.2
Perficient
AUGUST 10, 2020
The WeWork building is a co-working space that provides networking opportunities with other local and national companies. The office also has a fitness center plus restaurants and retail on the ground level. There are new restaurants, breweries, and all kinds of retail businesses opening every day!
PYMNTS
JANUARY 9, 2020
And in unattended retail, Stockwell ’s new name sparked a turnaround for the firm. Its future is now about building scale and creating a national presence for its vending cupboards. 9,300: Number of stores that shuttered in 2019, per Coresight data. percent: The rate by which overall retail sales increased from Nov.
PYMNTS
JANUARY 2, 2019
Much of the 5G focus at CES will indeed revolved around connected cars, which is understandable, given how the mobile and automotive industry are on course to become very close siblings in the coming years, enabling more seamless forms of payments and retailing. The robots aren’t just coming — they are, of course, already here.
PYMNTS
JANUARY 3, 2020
Looking past the cheerful numbers tied to holiday shopping and the tens of billions of dollars spent on Black Friday, Cyber Monday and into Christmas, the decline of retail, at least the traditional retail model, continues into the new year, and across oceans. The retail sector is among the largest employers in the U.K.,
PYMNTS
DECEMBER 20, 2020
Fidelity National Information Services ( FIS ) and Global Payments were in talks to merge in a $70 billion deal, but it didn't end up happening, according to The Wall Street Journal (WSJ). FIS struck a $35 billion deal to buy Worldpay early in 2019, while Global Payments bought Total Systems Services, or TSYS, months after that, WSJ reported.
PYMNTS
JULY 8, 2020
As it does during the first week of every month of the pandemic, attention turns to retail leases. This week found that one of the crisis’ most troubled retailers — Nordstrom — will only pay half of its rent for the balance of 2020. Retail Properties of America, Inc. percent of Q2 2020 rent as of the end of June.
Gonzobanker
DECEMBER 20, 2019
GonzoBankers, 2019 was a year of extremes. Third, read and enjoy the 2019 edition of the GonzoBanker Awards, our 18 th. Mark Turner, Executive Chairman of the Board, WSFS Bank – We have to give the nod to an early 2019 retirement of Turner, who had one hell of a run in 12 years at the helm of a great community and wealth bank.
PYMNTS
NOVEMBER 30, 2020
Black Friday shoppers stayed home, delivering a feared blow to brick-and-mortar retailers on what usually is one of their biggest days of the year, the Financial Times (FT) reported. About half as many shoppers as usual visited brick-and-mortar retail locations, the report stated. They’re not going to make it up online.”.
PYMNTS
FEBRUARY 3, 2020
In today’s top payments news, Mastercard’s CEO speaks out against a national payments system, the FCA tells credit card companies to be reasonable with customers in debt and the People’s Bank of China is prepared to inject $173 billion into the country to stabilize the economic damage wreaked by the coronavirus.
PYMNTS
DECEMBER 5, 2019
With the negative impact from trade, the economy of the eurozone expanded at a modest rate in Q3, as retail sales dropped in October at the sharpest rate of the year. Retail sales in the bloc in October dropped 0.6 GDP in the nations that share the euro was 0.2 In separate news, retailers in the U.K. percent in France.
PYMNTS
SEPTEMBER 8, 2020
The retailer said the positive result of the experimental effort brought about its decision to launch Kohl’s Rewards throughout the country. 18 that digital sales jumped 58 percent in Q2 compared to 2019 as its net sales dropped 23 percent amid COVID-19. The news comes as Kohl’s reported on Aug.
PYMNTS
DECEMBER 31, 2019
A little more than a year ago, PYMNTS started tracking the race for the consumer’s whole paycheck between the two retail behemoths that have been expanding their respective ecosystems in the process: Amazon and Walmart. percent of consumer retail spending in the U.S., percent of consumer retail spending in the U.S., population.
PYMNTS
DECEMBER 10, 2019
The world of quick service restaurants (QSRs) is where it’s at when it comes to so much retail innovation these days. The QSR chain launched the program after testing it for much of 2019, according to an announcement. 3, National Sandwich Day; 18,512 pickles given away on Nov. Domino’s stores across the U.S.
PYMNTS
DECEMBER 27, 2019
By the numbers, it is hard to deny in the closing days of 2019 that instant payments, as observed by the PYMNTS Instant Payments Tracker , have hit their stride and are no longer a P2P payments tool for gig economy workers. In 2017 only 11 percent of consumers in a national study of the U.S. Here are four on that list.
PYMNTS
OCTOBER 10, 2018
By some accounts, the 2018 holiday season is going to be a bang-up year for retailers. retailers are expected to increase 4.8 percent this year, according to the National Retail Federation (NRF) — well above the 3.9 percent growth seen by the retail market one year ago. Holiday sales for U.S.
PYMNTS
OCTOBER 5, 2020
According to the NPD Group , COVID-19 brought the year’s good start to a halt, with March athletic shoe sales down about 40 percent compared to 2019 and taking a 50 percent hit in April. Despite its 37 -state footprint, Werder noted that Fleet Feet thinks of itself as both a national brand and a community retailer.
PYMNTS
AUGUST 5, 2019
Connected and self-driving cars and truck stand as some of the next big frontiers when it comes to retail and retail innovation, but challenges to that future — real and potential problems that could slow down progress when it comes to autonomous vehicles — are increasing appearing on the horizon. Societal Issues.
PYMNTS
FEBRUARY 21, 2020
regulators to secure a national bank charter, in turn clearing the runway for the entity to accept consumer deposits. Double-digit growth in eCommerce is expected to continue, as the retailer sees 30 percent gains in the current fiscal year. Data breaches: MGM has admitted to a 2019 hack , where 10.6 Elsewhere, the U.S.
PYMNTS
DECEMBER 23, 2020
percent in 2021’s fourth quarter compared to Q4 2019, according to OECD figures quoted by The Wall Street Journal in early December. percent growth between Q4 2019 and Q4 2021, followed by Indonesia (1.5 In September, the Chinese National Bureau of Statistics announced that August retail sales rose for the first time this year by 0.5
PYMNTS
AUGUST 26, 2019
National Chocolate Chip Cookie Day (Aug. 4), National Chocolate Day (Oct. 28), National Avocado Day (July 31), National Ice Cream Day (July 21) and so on. If you’re wondering why they didn’t declare National Cheese Day, it was the middle of summer, and ice cream was a better fit for the season than cheese.).
Bank Innovation
FEBRUARY 14, 2019
Despite predictions of a bleak economy and decreasing investment spending from businesses, banks will not be cutting down their technology spend in 2019, according to Kurt Spieler, Chief Investment Officer at First National Bank of Omaha.
PYMNTS
SEPTEMBER 28, 2020
The closes over $10,000 haven't been this high in some time, according to a chart from CoinDesk, with the only dates close being 28 days in July 2019 and 25 days in June 2019. Coin Metrics statistics show that the 180-day returns volatility for bitcoin is down 41 percent so far in September, CoinDesk reported.
PYMNTS
AUGUST 19, 2019
And overall industry sales are forecast to hit a high of $863 billion this year, per projections from The National Restaurant Association, CNBC reported. Census Bureau data noted that sales at establishments for eating and drinking are up over 4 percent this year. Morningstar Senior Restaurant Analyst R.J.
PYMNTS
OCTOBER 19, 2020
Still, the 2020 edition of the PYMNTS | Visa How We Will Pay consumer survey of a national sample of roughly 10,000 U.S. The number of consumers shopping for general retail items from home doubled and buying groceries at home tripled. To say that we aren’t quite the same people we were a year ago might seem overly dramatic.
PYMNTS
APRIL 4, 2019
As far as made-up, non-holiday holidays go, you could probably do worse than National Burrito Day , which takes place on Thursday (April 4). The QSR plans to open up to 155 new restaurants in 2019, part of a push to solve what Niccol called the “No. A “few dozen more” such lanes in 2019.
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