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India’s Future Group Cuts eCommerce Venture, Lays Off About 400

PYMNTS

Future Group , the Indian conglomerate headquartered in Mumbai, is downsizing its eCommerce division Retail 3.0 The layoffs affected sales, product development, marketing and ground operations and took place over the last few months, two sources said. By 2018 the company had 500-600 employees developing digital assets for Retail 3.0.

Groups 101
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Helping FI’s Develop Their ‘FinTech Sense’

PYMNTS

But that doesn’t mean all the players in payments and financial services have a solid or clear digital strategy. It’s not that banks don’t want to go more digital and mobile, he said. They are heavily regulated and require heavy investment,” both in terms of capital and human resources. “It

Fintech 169
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The New Financial Paradigm

Cisco

The dramatic change of habit in the behavior of banking customers, digital natives or not, has brought adoption of digital payment methods and new interaction channels. Various regulations, PIX, Open Banking and hundreds of innovations are completely changing the rules of the game in this industry.

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Payments Rails, Laying New Tracks

PYMNTS

From an ACH networks standpoint, noted Estep, innovation may be “skinny,” but operations are ubiquitous, connecting all the bank accounts in the United States. Evans put before the panel the notion of “past dependency” for rail operators. “We The big question: Can the existing payment rails support the innovation that is needed?

Payments 105
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Wine Consumers Get A Healthy Pour Out Of The Pandemic

PYMNTS

The pandemic has brought a surge in eCommerce wine orders, which has been both advantageous and challenging for wine suppliers and retailers. There are always adjustments that we need to look at in our business that may not be apples-to-apples to traditional retail, but we expect to see solid growth year over year.

Retail 141
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Airbnb’s IPO, Amazon Pharmacy, Mobile Banking Top This Week’s News

PYMNTS

Retailers around the country are reinstating measures to limit shopping crowds and prevent product shortages, all intended to counter the spread of COVID-19. Digital is the way to go for banks looking to grab deposits and customers — especially here in the States. Chipotle Personalizes Loyalty Program, Digital Ordering Experience.

Mobile 160