Retail Gazette

MAY 20, 2024

Morrisons has kicked off the process to reduce its debt load, following the £2.5bn sale of its petrol forecourts to Motor Fuel Group (MFG) last month. To reduce its debt, it has now started a process involving multiple tender offers to a number of debt investors. They have allocated up to £1bn for this, all funded from cash reserves.

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Planning Payment Services Supermarket Grocer 117

Retail TouchPoints

MARCH 17, 2021

Online payment processing company Stripe has raised $600 million in Series H funding, nearly tripling its valuation in under a year to $95 billion , according to data from Pitchbook. Of the 42 countries in which Stripe operates, 31 are in Europe. We’re laser focused on helping ambitious businesses grow faster.

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Payment Services Finance Planning Management 159

Retail TouchPoints

OCTOBER 4, 2021

Here are the Top 10 predictions retailers should keep in mind as they plan, implement and finalize their holiday strategies. Flexible Payments Will Gain Further Ground. Flexible payments are continuing to gain steam, particularly among younger generations. And the number-one prediction for holiday 2021: 1.

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Merchant Services Payment Services Fulfillment Promotions 310

Retail TouchPoints

MARCH 4, 2024

This includes enhancing in-store inventory, delivery services and even the personalization of customer service. However, when it’s time to check out, how do payment options factor into that customer experience? Is it Great Service or Great Financing Options? It goes without saying that great service is important.

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Finance Payment Services Consumer Shopping 263

Retail TouchPoints

DECEMBER 23, 2020

In 2021, businesses in the United States will face new VAT rules for selling to final consumers in Europe. Called the “low value consignment stock relief,” the threshold was intended to reduce the administrative burden in customs compliance. Thankfully, the EU decided to push the compliance deadline from Jan.

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Payment Services Telecommunications Accounting Planning 155

Inside Retail

APRIL 23, 2023

Discount retailer The Reject Shop is facing a class action lawsuit for “purported underpayments” to staff, launched by specialist law firm Adero Law Between February 2016 and April 2021, seven former employees of the discount retailer allege underpayment during their employment with the company.

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Payment Services Shopping Management Planning 242

Retail TouchPoints

NOVEMBER 3, 2021

The desire is still there to do touchless, but for different reasons than COVID safety,” he said during a presentation at the 2021 retailX conference in Chicago. More Dark Kitchens Over the next five years, QSR chain Wendy’s is planning to add 700 kitchens in converted shipping containers to support delivery.

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Payment Services Checkout Fulfillment Kiosk 336

Retail TouchPoints

MARCH 5, 2024

[Update from 3/6/2024] Over the next decade, Target plans to build more than 300 new stores and upgrade the vast majority of its brick-and-mortar fleet, with projects ranging from full remodels to adding Ulta Beauty locations, upgrading fixtures and supporting same-day services.

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Planning Beauty and Health Payment Services Checkout 130

Retail TouchPoints

FEBRUARY 13, 2023

Digital payments misuse accounted for 21% of the total number of fraudulent transactions. Fraud resulting from relationship, product and service scams combined represented 22% of total fraud. Incidents of identity theft and related fraud rose nationwide in 2021, according to the FTC.

Merchant Services 251

Merchant Services Payment Services Accounting Promotions 251

Retail TouchPoints

MARCH 11, 2022

At eBay ’s investor day March 10, CEO Jamie Iannone shared details about the company’s long-term growth strategy and previewed new products, including plans for the eBay Vault — both a physical storage facility and a digital marketplace for trading cards and other high-value collectibles.

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Payment Services Planning Shipping Management 289

Retail TouchPoints

FEBRUARY 3, 2021

Jared Isaacman, Founder and CEO of ecommerce payments platform Shift4 Payments , is taking promotional giveaways to a new height, literally and figuratively. In addition to his own seat, Isaacman has also paid for the additional three mission seats, which he plans to donate.

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Payment Services Promotions Planning ATS 168

Retail TouchPoints

OCTOBER 4, 2022

In addition to supporting customers who use Supplemental Nutrition Assistance Program (SNAP) Electronic Benefits Transfer (EBT) payment options, the program also affords easier access to Amazon Layaway. It also noted that the program expanded its membership by more than 300% between 2019 and the end of 2021.

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Payment Services Shipping Planning Consumer 260

Retail TouchPoints

FEBRUARY 17, 2023

The RealReal will cut operating costs through layoffs and store closures, with plans to eliminate 230 positions, or 7% of its workforce, according to a filing with the Securities and Exchange Commission. million , primarily in severance payments, employee benefits and similar expenses. million in Q3 2021. million and $2.2

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Payment Services ATS Accessories Planning 298

Retail TouchPoints

MAY 4, 2021

eBay has partnered with digital payments solution provider Payoneer to simplify cross-border sales and streamline the payment experience for its sellers in select countries. The partnership kicked off in April 2021, with Payoneer taking over the management of payouts for eBay sellers from Greater China.

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Payment Services Management Planning ATS 258

Retail TouchPoints

AUGUST 13, 2021

As the ecommerce wars heat up, BigCommerce is making a name for itself as one of the top facilitators of digital trade, alongside competitors such as Shopify, Adobe Commerce and Salesforce Commerce Cloud. RTP: What are the biggest challenges to creating an omnichannel operation? It has to be done progressively. Is it in stock?

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Merchant Services Payment Services Fulfillment Advertising 299

Retail TouchPoints

JULY 14, 2021

Ap p le will reportedly team up with Goldman Sachs to launch its own buy now, pay later (BNPL) platform that lets shoppers make Apple Pay payments in installments, according to Bloomberg News. Apple plans to make Apple Pay Later available both in-store and online, a nod to the growing cross-channel popularity of BNPL services.

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Payment Services Planning Accounting Marketing 299

Retail TouchPoints

OCTOBER 11, 2021

The retailer also is currently seeking third-party solution providers in areas including payment processors, order management and shipping and fulfillment. Michaels’ CEO Ashley Buchanan first revealed plans for a marketplace in a February 2021 story in The Wall Street Journal. Michaels gained access to some of A.C.

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Payment Services Drop-Shipping Fulfillment Shipping 261

Retail TouchPoints

MAY 17, 2022

We are delighted to be partnering with Coinsource and facilitating simple access to bitcoin for our customers,” said Dave Wagner, Controller of Kwik Trip in a statement. “We and Canada in 2021, and Walmart debuted bitcoin ATMS from Coinstar and CoinMe at 200 locations in October 2021, with plans to eventually bring the kiosks to 8,000 stores.

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Location Payment Services Kiosk ATS 240

Retail TouchPoints

AUGUST 2, 2021

Square plans to purchase buy now, pay later (BNPL) provider Afterpay in an all-stock deal valued at approximately $29 billion. Payment industry experts see the acquisition as a win for both companies as well as a sign of the growing ubiquity of BNPL. Schwartz noted that Afterpay is a founding member of the CLA’s BNPL task force.

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Merchant Services Payment Services Checkout Finance 314

Small Biz Trends

NOVEMBER 9, 2022

The Internal Revenue Service (IRS) has reminded taxpayers accepting payments through payment cards and third-party network transactions that they may receive 1099-K forms for sales over $600 in early 2023. New 1099-K Reporting Rule. Where To Get Help with Tax Filling?

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Payment Services Returns Accounting Planning 98

Retail TouchPoints

AUGUST 29, 2023

Students, faculty and staff scan a QR code to enter the store, pick their items and leave, with the payment deducted from their student meal plan or other stored payment methods. Using the Amazon “Just Walk Out” technology, Grubhub Campus has introduced cashierless checkout at convenience stores at Loyola University Maryland.

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Checkout Payment Services ATS Accounting 189

Retail TouchPoints

MARCH 2, 2021

Macy’s has announced a series of changes to its senior leadership team, including the elimination of the Chief Operations Officer role, as it moves forward with its “Polaris” omnichannel transformation strategy. Miller also has held leadership roles at global payments processing firm First Data Corporation, TD Ameritrade and The U.S.

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Payment Services Department Stores Planning Location 283

Retail TouchPoints

JULY 23, 2020

For the time being, however, 96% of the retailer’s approximately 1,400 stores — operating under the Men’s Warehouse , Jos. Bank , Moores Clothing for Men and K&G brands — have returned to operation after closing due to the pandemic. Ulta currently operates 1,264 stores. and enter the Canadian market in mid-2021.

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Location Payment Services Planning Store Operations 147

Retail TouchPoints

DECEMBER 13, 2021

In fact, the growth of BNPL is hitting record-breaking levels — in 2021 Cornerstone Advisors say that consumers will make nearly $100 billion in retail purchases using BNPL. In fact, Cornerstone Advisors found that Gen Z consumers using BNPL grew from 6% in 2019 to 36% in 2021, and millennials’ use of BNPL is up to 41%.

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Payment Services Consumer Returns Management 253

Retail TouchPoints

NOVEMBER 20, 2023

billion in 2021. As the tactics behind these crimes become increasingly sophisticated, and customer expectations for in-store experiences are higher than ever, retailers are finding it more difficult to protect their assets while maintaining great service. While they solve one issue, they create a few more when it comes to theft.

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Payment Services Sporting Goods Inventory Management Loss Prevention 311

Retail TouchPoints

AUGUST 3, 2022

Also known as a point-of-sale loan, BNPL splits a purchase into multiple equal payments, with the first payment usually due at checkout and subsequent payments billed to a credit or debit card. And there are a lot of consumers that use it: 56% of Americans have used a BNPL service, up almost 50% in just one year.

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Payment Services Finance Point of Sale Checkout 235

Retail TouchPoints

AUGUST 18, 2022

Also known as pay-over-time or pay-in-4 installment plans, BNPL offers consumers the chance to split up the cost of major purchases directly at the point of sale. Most buy now, pay later offers are interest- and fee-free, unless customers miss a payment. In fact, 50% of U.S Economic ‘Crosscurrents’ Present Mixed Outlook.

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Merchant Services Payment Services Consumer Point of Sale 254

Inside Retail

APRIL 4, 2024

However, not to be discouraged, they gathered their learnings from their first entrepreneurial endeavour and went on to officially launch Safely in 2021. In May, the company plans to launch a multi-use, patent-pending product on its direct-to-consumer site for pre-order.

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Payment Services Specialty Store Advertising Shipping 130

Retail TouchPoints

JANUARY 15, 2021

But when looking at these numbers, the excess data can feel overwhelming, so we’ve rounded up the most important retail metrics to leverage in 2021. You get your CSAT by asking customers directly how satisfied they are with the product or service. Evaluating 2020 Metrics and Planning for 2021.

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Payment Services Promotions Shipping Planning 149

Inside Retail

JANUARY 28, 2024

American fast-food chain Chipotle made headlines last Wednesday when it announced it would be providing updated benefits for its approximately 110,000 employees and the upcoming surge of workers it is planning to hire this year. In 2021, 47.8 million in 2023.

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Payment Services Planning Finance Apparel 130

Retail TouchPoints

SEPTEMBER 17, 2022

The Consumer Financial Protection Bureau (CFPB) is planning to start regulating buy now, pay later (BNPL) products. of users charged at least one late fee in 2021, up from 7.8% of individual loans in 2021 saw at least some portion of the order returned, up from 12.2% of users charged at least one late fee in 2021, up from 7.8%

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Consumer Payment Services Apparel Accounting 215

Retail TouchPoints

MARCH 21, 2023

The retailer plans to expand the 7Charge network into Canada as well as other U.S. A companion 7Charge app will help drivers locate charging locations and enable seamless payments. 7-Eleven had announced plans in June 2021 to install 500 EV ports at 250 stores in the U.S.

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Payment Services Supermarket Location Planning 242

Retail TouchPoints

JULY 25, 2022

In the midst of rising inflation rates, many Americans are wondering how to cut their costs — and younger generations such as Gen Z may have found a solution in the short term with “buy now, pay later” or BNPL plans. This generation has taken to this payment option faster than any other, but looking at their history it is easy to see why.

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Payment Services Advertising Accounting Consumer 193

Inside Retail

AUGUST 1, 2021

Square Inc will purchase buy now, pay later (BNPL) firm Afterpay Ltd for about $39 billion (US$29 billion) in Australia’s biggest-ever buyout, creating an online payments giant to tap into explosive growth in the niche payments sector. where its fiscal 2021 sales nearly tripled to A$11.10 billion ($8.15

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Merchant Services Payment Services Planning Consumer 246

Nvidia

JANUARY 27, 2022

From the largest firms trading on Wall Street to banks providing customers with fraud protection to fintechs recommending best-fit products to consumers, AI is driving innovation across the financial services industry. AI for underwriting increased fourfold, from 3 percent penetration in 2021 to 12 percent this year.

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Payment Services Planning Customer Experience Management 95

A1 Retail

NOVEMBER 18, 2021

Barclaycard Payments’ data shows quarterly SME transactions have risen by 38.1 The quarterly SME Barometer combines billions of merchant transactions, processed by Barclaycard Payments, with research data to provide an in-depth look at the UK SME economy . Year-on-year payments volumes are also showing strong growth – up 21.9

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Merchant Services Payment Services Consumer Shopping 75

Retail TouchPoints

MAY 24, 2021

In another sign of the global growth of buy now, pay later services, Zip Co Ltd. Zip already owned a portion of Twisto, and plans to buy the remaining shares for approximately $108.5 million , with the deal expected to close in Q4 2021. will purchase the European BNPL provider Twisto and the UAE-based Spotii Holdings Ltd.

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Merchant Services Payment Services Fulfillment Planning 243