Retail: Page 2

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    Mastercard picks new startup program members

    The initiative aims to support fintech startups during and after their time with Mastercard by introducing the small business owners to other entrepreneurs and potential partners in the payments realm.

    By Tatiana Walk-Morris • April 21, 2022
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    AndreyPopov via Getty Images

    Retail has a checkout problem...and speed alone won't solve it

    The speed of one-click checkout isn't the answer to every cart abandonment problem, says one payments tech executive. There are other factors for retailers to consider when determining whether the checkout experience is convenient for the customer.

    By Yvan Boisjoli • April 19, 2022
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    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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    Mario Tama via Getty Images

    Inflation hands cards a mixed bag

    Higher spending due to inflation is poised to drive up credit card volumes, according to an S&P Global Market Intelligence report. Card issuers have been eager to see stronger loan growth, but if delinquencies rise, that could be concerning for the industry.

    By April 13, 2022
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    Sean Gallup via Getty Images

    PayPal CFO exits for Walmart

    PayPal's CFO John Rainey said he would leave to join the retailer at the end of May. The exit follows a rough end to 2021 for the digital payments pioneer. One analyst said it wasn't a surprise after "a period of overpromising and under-delivering."

    By April 13, 2022
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    Drew Angerer via Getty Images

    Despite pandemic, travel perks draw premium cardholders

    Travel-related benefits remained a favorite perk for premium credit cardholders, according to a S&P Global Market Intelligence report, even as the COVID-19 pandemic has squashed travel plans. But as card issuers have hiked premium card fees, they may have hit the limit on cardholders' willingness to pay more.

    By April 12, 2022
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    Retrieved from Stripe's Stephen Imm on October 26, 2021

    Payments players caught in venture capital squeeze

    The flow of venture capital to startups ebbed in the first quarter for the biggest quarterly decline since 2012. Payments players, which have been big beneficiaries of such investments, are beginning to feel the pinch.

    By April 12, 2022
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    Permission granted by Stripe

    Stripe sees growth slowing this year after pandemic e-commerce boon

    Despite opportunities to sell to the creator economy and meet demand for embedded tools, the company said it won't grow as much this year as last year, citing "one-time behavioral adjustments" in 2021. The super-unicorn still expects to expand based on "explosive growth in fintech."

    By April 12, 2022
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    Permission granted by Bolt. From left to right: Wyre CEO Yanni Giannaros, Bolt founder and executive chairman Ryan Breslow, Bolt CEO Maju Kuruvilla at the Bitcoin 2022 conference in Miami.

    Bolt buys Wyre to get crypto in its wallet

    With the $1.5 billion acquisition of cryptocurrency payments firm Wyre, Bolt aims to bring crypto front and center within its online checkout capabilities and digital wallet. Crypto "will be a major part of Bolt’s strategy going forward," said CEO Maju Kuruvilla.

    By April 8, 2022
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    Retrieved from Google Maps on October 19, 2021

    Midwestern grocer Coborn's gives workers on-demand pay access

    The company has teamed up with DailyPay at a time when grocers are taking cues from the gig economy and looking for ways to give employees more control over their earnings.

    By Catherine Douglas Moran • April 8, 2022
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    Kaarin Vembar/Payments Dive

    Amazon expands cashierless supermarket chain

    The tech juggernaut opened its first full-size checkout free Fresh store on the East Coast last week in suburban Washington, D.C., bringing the chain total to 27 nationwide. That latest opening in Fairfax, Virginia, is the first of four in that suburban area that Amazon plans to open.

    By Sam Silverstein • April 8, 2022
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    Jovanmandic via Getty Images

    Banks aren't likely to undercut cards with Zelle

    The banks earn billions of dollars from credit and debit card interchange fees so why would they want Zelle stepping in to connect consumers directly to bank accounts? "Banks would never want to jeopardize interchange revenue," said one analyst.

    By April 7, 2022
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    Justin Sullivan via Getty Images

    There was no stopping credit card fee hikes this year

    Merchants are incurring tens of millions of dollars in additional interchange, or "swipe," fee increases that the big credit card companies Mastercard and Visa are deploying. There was a loud silence about the inevitability of those boosts this year.

    By April 7, 2022
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    Courtesy of Fast

    Startup Fast abruptly shuts down

    The one-click checkout startup announced Tuesday it’s shutting down, despite the CEO promising heady growth this year as recently as January. Fast will "permanently discontinue" its Fast Checkout service on April 15, the company said.

    By April 6, 2022
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    Courtesy of Fast

    Checkout startup Fast seeks buyer: report

    In January, CEO Domm Holland said his company was fielding "incredible demand" from investors and planning big growth this year. Now, the San Francisco-based one-click checkout startup has reportedly hired Morgan Stanley to consider a sale and may lay off hundreds of employees, according to the publication The Information.

    By April 5, 2022
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    Brandon Bell via Getty Images

    To ease fuel-price pain, subsidies, rebates gain momentum

    Chicago and California propose giving prepaid gas cards to eligible residents and assistance to public transit users. State and federal efforts to suspend gas taxes face criticism for potential economic and environmental impacts.

    By Dan Zukowski • April 5, 2022
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    Permission granted by U.S. Bank spokesman Todd Deutsch

    U.S. Bank teams with Lithia on real-time payments tool

    U.S. Bank and Lithia Motors are teaming up to test a new real-time payments tool for customers selling their used cars to the auto dealer in their driveways. The pilot in Portland, Oregon, is expected to be rolled out nationwide this year.

    By April 4, 2022
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    alvarez via Getty Images

    Small businesses adjust to inflation, supply chain disruptions: survey

    A new survey from American Express and its Kabbage unit found nearly two-thirds of small businesses will keep their inflation-adjusted pricing for the next six months.

    By Tatiana Walk-Morris • March 31, 2022
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    Retrieved from Flickr/frankieleon.

    Credit card late fees likely to keep climbing, CFPB says

    Total credit card late fee volume is rising again after a dip during the pandemic, and current inflation levels mean the largest issuers are likely to keep increasing fees, the Consumer Financial Protection Bureau said.

    By March 29, 2022
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    Courtesy of Dressbarn

    PayPal's Happy Returns to add service in Ulta stores

    PayPal's Happy Returns services will now be available at the beauty products store chain. PayPal has integrated its returns services into multiple retailers’ brick-and-mortar locations over the past few years.

    By Tatiana Walk-Morris • March 28, 2022
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    FreshSplash via Getty Images

    Advocacy group points to BNPL 'warning signs'

    As scrutiny of buy now-pay later comes to a head, a survey from advocacy organization Financial Health Network revealed financially vulnerable households are almost four times more likely to use BNPL to make purchases than those that are financially healthy.

    By March 25, 2022
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    Khaosai Wongnatthakan via Getty Images

    Affirm CFO leans in for CFPB inquiry

    A top executive at Affirm, the biggest independent U.S. buy now-pay later company, says he understands the way in which the Consumer Financial Protection Bureau is trying to get a handle on the new industry.

    By March 23, 2022
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    H. Armstrong Roberts via Getty Images

    Retail, financial trade groups beg for coins

    A U.S. coin shortage subsided for a bit early last year, but the problem is back. That led a group of trade organizations to complain to the Treasury Department this week, and to ask for help in making consumers aware of the coin crisis.

    By March 22, 2022
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    Elena Perova via Getty Images

    ChargeAfter raises $44M as competition grows

    The New York-based company is stockpiling dollars as new and old payments players arrive in the buy now-pay later arena. Consumers are predicted to increase their BNPL spending, but the service also faces regulatory scrutiny.

    By Tatiana Walk-Morris • March 22, 2022
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    Permission granted by EverC

    Consumer group US PIRG seeks BNPL crackdown

    A report this month from the organization outlines a litany of complaints about buy now-pay later, such as hidden fees, and suggests the industry is trying to evade consumer protection laws.

    By March 21, 2022
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    Jack Taylor via Getty Images

    Stripe snags a new crypto customer

    Payments software juggernaut Stripe said it has landed crypto company as a new customer and that it's aiming to aid the digital currency client in international expansion.

    By March 21, 2022