The Latest
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Stimulus payments fuel surge in ACH transactions
Automated Clearing House (ACH) volumes typically drop when unemployment is high, but increased benefits for out-of-work Americans and an online shopping bump fueled a departure from typical trends, data shows.
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Courtesy of Klarna
Payments startup Klarna raises $1B in funding, hits $31B valuation
The funding makes it the highest-valued private fintech in Europe and the second-highest globally, according to the company.
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59% of US shoppers see Amazon Go as a threat to Walmart, Kroger, study finds
Stores similar to Amazon's cashierless convenience locations appeal to more than half of U.S. consumers, according to a Piplsay survey.
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Dollar Photo
Inside Marqeta's plans to grow its 'card-as-a-service' offering
The card issuer and processor is differentiating through a flexible, API-based platform that helps clients launch card offerings in months instead of years.
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Square launches long-awaited industrial bank
The FDIC gave the fintech conditional approval for an ILC charter nearly a year ago. Now the company can originate small-business loans rather than doing so through its previous partner, Celtic Bank.
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Auto retailer HGreg to accept cryptocurrency for purchases
The company is one of the first auto groups to accept this form of payment, joining a growing host of companies willing to demonstrate their confidence in crypto.
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:Weatherman1126. (2007). "Logo of The Goldman Sachs Group, Inc." [Image]. Retrieved from Wikipedia Commons.
Walmart's fintech startup poaches 2 Goldman executives
The retailer looks to use its scale in the retail space "to deliver tech-driven financial experiences tailored to Walmart's customers and associates."
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Gemini Exchange moves into credit cards, yield-bearing programs
Crypto exchange’s push is the latest in the growing list of blockchain players adding banking-like benefits.
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Dollar Photo
Pandemic fueled 32.4% e-commerce surge in 2020
The biggest jump in online sales occurred shortly after states issued stay-at-home orders. E-commerce sales jumped 44.4% in the second quarter compared to the same quarter in 2019, Census data shows.
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Courtesy of Coinbase
Crypto exchange Coinbase files paperwork to go public
The move serves as another signal of the growing acceptance of cryptocurrency as a store of value.
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Valadi, Sam. (2012). "Empire State - New York City" [Photograph]. Retrieved from Flickr.
Tether, crypto exchange Bitfinex to pay $18.5M to settle NY probe
Tether will give officials quarterly reports on its reserves and end trading with the state's residents in an agreement that ends a two-year investigation into allegations it hid the loss of $850 million in client and corporate money.
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Anna Hrushka/Payments Dive
Fed says 'operational error' caused payment system outage
The Federal Reserve's electronic payments network lets nearly 9,300 financial institutions send billions of dollars daily through the U.S. financial system.
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Getty Images
Amazon acquires small digital commerce platform to challenge Shopify
Australian startup Selz is a bit player, but the takeover signals the e-commerce behemoth's intentions to reenter a space it abandoned years ago.
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Why Global Payments went multicloud
Large companies venture down the multicloud path to support different business arms.
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Adeline Kon for Cybersecurity Dive/Payments Dive
How can data manipulation impact the bottom line?
Factoring disinformation into a threat model can allow a company to combat lies and protect its reputation.
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Julie Littman/Industry Dive
Report: Loyalty customers spend more than twice as much on takeout meals
The spending disparity between loyalty members and non-members reflects why so many major brands, including Taco Bell, Wendy's and White Castle, have added or enhanced their loyalty programs during the pandemic.
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Permission granted by Food Lion
Food Lion starts accepting online orders from SNAP customers in NC
The grocer also plans to expand to eight more states in the coming weeks, including Delaware, Georgia, Kentucky, Maryland, South Carolina, Tennessee, Virginia and West Virginia.
UPDATED: Feb. 16, 2021 at 11:53 a.m. -
Valadi, Sam. (2012). "Empire State - New York City" [Photograph]. Retrieved from Flickr.
BNY Mellon commits to holding, transferring and issuing crypto
The New York-based bank said Thursday it is developing a client-facing prototype for a multi-asset digital custody and administration platform set to roll out this year.
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Courtesy of Sifter
Peapod founders re-enter grocery e-commerce with custom shopping tool
Brothers Andrew and Thomas Parkinson's new service, Sifter.shop, lets customers filter groceries based on health-related criteria and then transmit their orders to selected grocers.
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Gemini launches crypto-based savings product offering up to 7.4% yield
Gemini said it can pay such high rates because it lends to institutional borrowers through a partner, but that puts it largely outside the regulatory sphere — leaving customers assuming considerably more risk.
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Courtesy of Shopify
Shopify adds Shop Pay to Facebook, Instagram
It's the first expansion of the service outside of Shopify's own platform, and seeks to offer a smoother buying process.
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Courtesy of Kroger
Q&A: What retailers and shoppers want from their grocery apps
Atomic Robot CEO Alex Robinson, who was a founding member of Kroger's mobile development team, and UX/UI designer Leah Blandford talk app usage during the pandemic and what lies ahead for retailers.
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Permission granted by Burger King
Burger King loyalty program test includes rewards via self-delivery
The chain's loyalty members will be able to earn points when they place an order for delivery through its app or website, but not through third-party vendors.
UPDATED: Feb. 9, 2021 at 5:16 p.m. -
Courtesy of Sam's Club
Sam's Club teams up with Synchrony, Mastercard for rewards program
The club retailer, like others in the retail space, is also simplifying the application process as consumers continue to struggle financially.
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Rangel, David. [photograph]. Retrieved from https://unsplash.com/photos/4m7gmLNr3M0.
Report: Cyberattacks cost financial firms $4.7M on average last year
Weak endpoints and a lack of policy enforcement are imposing extra costs on companies as home-based workers remain vulnerable.
