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Embedded Finance: Making Payments Possible in New Frontiers

Retail TouchPoints

In fact, embedded finance will be a $777 billion opportunity by 2029. What’s really exciting about embedded finance is the simplicity of making complex payments accessible to a wide range of people and businesses, and the creative innovations that are opening new use cases and new opportunities. So how can businesses get a piece of it?

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Exclusive Q&A: Venmo GM on the Company’s ‘Natural Extensions’ into Business Payments

Retail TouchPoints

McKinsey calls this embedded finance — when a financial product or solution is placed in a non-financial setting, for example on a social media platform or in a store (private label credit cards are one old-school example). Embedded finance has become big business: McKinsey estimated that the sector reached $20 billion in revenue in the U.S.

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Guarding the Retail Fortress: Cybersecurity Challenges and Network Interruption Risks

Retail TouchPoints

In 2014, cybercriminals used a third-party vendor’s credentials to enter Home Depot’s network and deployed malware on the self-checkout systems to steal customer information.

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Is BNPL the right choice for your business?

Inside Retail

That means having honest conversations with BNPL providers and your own team around issues like fees, integration, UX, accreditation and customer ownership, accountability and bad debt management. . Do research on your target demographic and ensure that your business would benefit from offering BNPL at the checkout.

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City Furniture Overhauls Ecommerce Approach to Create Highly Customized Shopper Journeys

Retail TouchPoints

Overall, mobile accounts for the majority of CITY Furniture’s traffic now, and the retailer is able to offer entirely different experiences to its mobile and desktop customers while still leveraging the same backend services, thanks to the headless microservices architecture approach. Mobile and Social Growth Motivated Online Upgrades.

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What the proposed buy now, pay later regulations mean for Aussie retail

Inside Retail

Bowden also noted that 160,000 businesses offer BNPL – which see an average transaction of $136 – and that 82 per cent of retailers believe their customers expect BNPL to be offered at checkout. Given that the average consumer has two BNPL accounts we are looking at a debt multiplier effect.

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How ‘Buy Now, Pay Later’ Can Strengthen Brand Equity

Independent Retailer

For example, with many direct-to-consumer BNPL providers, shoppers are frequently redirected from the merchant’s checkout to the BNPL provider’s own website to create an account. If the customer is not offered the same financing options in-store as well as online, your brand equity and customer loyalty could be harmed.