Retail


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    Joe Raedle via Getty Images

    Chip shortage drives up card costs

    Russia's invasion of Ukraine is affecting card chip prices because Ukraine is home to two companies that produce half of the world’s neon supply, a key ingredient in chips.

    By May 26, 2022
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    Khaosai Wongnatthakan via Getty Images
    Opinion

    CEOs Sound Off: BNPL takes aim at healthcare, legal costs

    Companies offering installment payment options for healthcare, legal and auto repair say that buy now-pay later options will satisfy growing consumer demand.

    By May 25, 2022
  • Trendline

    Digital payments surge has staying power

    Consumers changed their ways to get through the deadly COVID-19 pandemic, and that meant major modifications in payments. Contactless, frictionless and touchless were in, as consumers worked from home and shopped online. Industries across the board altered their payments tools in response and show no signs of reversing course.

    By Payments Dive staff
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    Courtesy of Tag Heuer

    Tag Heuer accepts crypto as payment

    CEO Frédéric Arnault suggested cryptocurrency fluctuations are a risk companies will need to take on if they allow this form of payment.

    By Dani James • May 24, 2022
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    Caitlin Mullen/Payments Dive, data courtesy of Industry Dive employee Caitlin Mullen

    Klarna revamps operations, cuts 700 employees

    Klarna, a major buy now-pay later player and Europe's highest value fintech, has "re-evaluated" its business and made "really tough decisions" that include cutting 10% of its workforce, the CEO said.

    By May 24, 2022
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    Permission granted by Emily Burnham DLPR

    BNPL player Zilch expands to US

    Instead of collecting fees from retailers to move merchandise from their shelves, Zilch is linking with brands like Sephora and Nike to lure consumers looking to finance their purchases through installment payments. 

    By May 20, 2022
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    Courtesy of Mastercard

    Mastercard to launch biometric checkout tool for retailers

    The company plans to try out facial recognition and hand-scanning technology in multiple countries.

    By Tatiana Walk-Morris • May 19, 2022
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    Kaarin Vembar/Payments Dive

    Amazon Fresh spearheads East Coast expansion

    The chain plans to open locations on Long Island and in the Garden State, expanding its use of the cashierless payment technology and hiring "hundreds" of workers.

    By Jeff Wells • May 19, 2022
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    Joe Raedle via Getty Images

    Block bets on bitcoin

    “We are no longer just a payments company,” Block CEO Jack Dorsey said at the company’s investor day Wednesday.

    By May 18, 2022
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    Courtesy of Klarna

    Klarna debuts virtual shopping tool

    The platform is adding more services as the buy now-pay later industry faces more regulatory scrutiny.

    By Tatiana Walk-Morris • May 17, 2022
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    Zowy Voeten via Getty Images

    Affluent consumers may drive $257B in spending

    The wealthiest U.S. consumers are eager to open their wallets again, especially for travel, though there is one possible caveat, predicts Visa's chief economist.

    By May 17, 2022
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    Drew Angerer/Getty via Getty Images

    BNPL giant Affirm counts on debit card for growth

    The San Francisco-based company said the product is being “rolled out to tens of thousands of consumers" through a beta program.

    By May 17, 2022
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    Justin Sullivan via Getty Images

    Three US cash trends persist, Fed report says

    The COVID-19 pandemic led U.S. consumers to change up their payment habits, but three long-term cash trends have mainly persisted, according to a Federal Reserve Bank report issued this month.

    By May 16, 2022
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    Retrieved from Flickr/frankieleon.

    Fed delivers mixed credit card data

    While first-quarter consumer credit card debt rose relative to the same period last year, it dropped compared to the fourth quarter. Meanwhile, consumers' outlook on the availability of credit deteriorated.

    By May 12, 2022
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    PeopleImages via Getty Images

    VizyPay carves out a niche catering to rural America

    Austin Mac Nab, the CEO and cofounder of Waukee, Iowa-based payments processing firm VizyPay, said the company aims to disrupt the payments landscape by catering to small town businesses.

    By May 11, 2022
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    Courtesy of Mashgin

    Self-checkout tech maker Mashgin raises $62.5M

    The technology company, which currently partners with convenience stores, cafeterias, hospitals and sports arenas, said it will use the investment to build out its team, quicken expansion and scale globally.

    By Catherine Douglas Moran , Sam Silverstein • May 10, 2022
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    Permission granted by Square

    EMVCo invites input on new contactless standard

    The firm controlled by the card companies has drafted a new contactless technology standard and it's seeking public comment on the specifications. Their plan is to implement a change by yearend.

    By May 10, 2022
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    Justin Sullivan via Getty Images

    Cannabis payments companies focus on compliance, creativity

    In the cannabis business, federal illegality has kept many banks and payments companies on the sidelines. That's opened the door for young companies that are using the ACH network to facilitate cannabis payments in states where it’s been legalized.

    By May 6, 2022
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    Teresa Kroeger via Getty Images

    Block 'just getting started' with Afterpay

    San Francisco-based Block is focused on expanding buy now-pay later provider Afterpay’s customer base and managing its loss rate, Block executives said during Thursday’s first-quarter earnings call.

    By May 6, 2022
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    Courtesy of DoorDash

    DoorDash extends gas card rewards program

    The program, which provides drivers 10% cash back on gas purchases on a prepaid Visa card, will now run through August.

    By Alicia Kelso • May 5, 2022
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    Win McNamee via Getty Images

    Durbin proposes card fee reforms, not legislation

    Sen. Dick Durbin pushed for a handful of reforms of credit card fee practices at Wednesday's Senate Judiciary Committee hearing on "excessive swipe fees," but didn't offer plans for new legislation. He also questioned Visa and Mastercard representatives about recent fee increases and took testimony from consumer advocates who slammed the hikes.

    By May 5, 2022
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    Khaosai Wongnatthakan via Getty Images

    Fiserv, Affirm partner on BNPL

    Brookfield, Wisconsin-based Fiserv is adding a new buy now-pay later player to its roster. The company said Wednesday that San Francisco-based Affirm will be the first BNPL option integrated into its Carat service, which is directed at larger enterprises.

    By May 5, 2022
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    "Kohl's" by Mike Mozart is licensed under CC BY 2.0

    Kohl's boosts reward benefits for card members

    The Menomonee Falls, Wisconsin-based retail chain tested the program in eight markets over the past year and found an increase in Kohl's Card acquisitions and overall sales. 

    By Kaarin Vembar • May 2, 2022
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    Anna Moneymaker via Getty Images

    Card companies called on congressional carpet

    Visa and Mastercard will be in the hot seat next week at a hearing of the Senate Judiciary Committee led by their long-time nemesis, Sen. Dick Durbin. A notice for the hearing teases that the discussion will zero in on "excessive swipe fees" and a lack of competition in the industry.

    By April 29, 2022
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    Permission granted by Discover

    For Discover, inflation brings sales growth, salary pressure

    Riverwoods, Illinois-based Discover Financial Services on Thursday reported first-quarter card sales volume was 23% higher than the same period last year, but CFO John Greene said "it’s hard to envision year-over-year sales growth to continue in the upper 20s."

    By April 29, 2022
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    Courtesy of PayPal

    PayPal cuts back growth plans, again

    The digital payments pioneer reduced its revenue growth targets for the second time this year when it reported first-quarter earnings Wednesday. CEO Dan Schulman took responsibility for not delivering, blaming macroeconomic factors affecting the company. 

    By April 28, 2022