In this week’s news, we saw two blockbuster IPOs, arguments and stalemates over a new stimulus bill, and new data on consumers’ digital shopping trends. The Weekender is here to catch you up.
Retroactive Jobless Payments A Sticking Point In Coronavirus Stimulus Talks
Lawmakers on both sides of the aisle continue to haggle over the next coronavirus stimulus bill, with the question of whether jobless workers should be entitled to months of retroactive employment checks likely to be one of many sticking points.
Capital One Halts BNPL Transactions On Its Credit Cards
Capital One Financial Corp is putting a stop to buy now, pay later (BNPL) transactions on its credit cards, calling the dealings “risky,” for both consumers and banks.
PayPal’s iZettle Introduces QR Codes At POS For UK Merchants
PayPal has introduced QR code payments in iZettle’s point-of-sale app in the U.K. to advance secure, contactless transactions as stores reopen amid COVID-19 restrictions.
Synctera Brings ‘FinTech As A Service’ To Community Banks
FinTechs want to offer compliant banking services, while community banks want new ways to grow deposits. Peter Hazlehurst, CEO of Synctera, tells Karen Webster that Synctera is a next-gen banking-services platform that facilitates FinTech scale by enabling banks to leverage their current compliance and account-servicing capabilities in new ways. The FinTech as a Service launched Tuesday (Dec. 8).
Report: Digital Lender SoFi Eyes IPO Via SPAC
Online lending startup Social Finance (SoFi) is in talks to go public through a sale to blank-check acquisition company. SoFi, which works on refinancing student loans, mortgages and personal loans, and recently began offering stock trading and cash management accounts as well, was valued at $4.8 billion in a private fundraising round last year.
Trackers And Reports
New Data: Tracking The Consumer, Merchant Digital Shift Down Under
Different digital shopping strokes for different shopping folks. Australian consumers like going to the store more than consumers in other countries, even though they find it less satisfying than shopping online. In the Global Digital Shopping Index: Australia Report, PYMNTS surveyed nearly 2,000 consumers and 600 merchants to understand how the pandemic has changed consumer shopping behaviors — and where merchants are investing to respond.
In-Car Commerce: What Seven In 10 Commuters Now Say They Want
Seventy percent of Americans who still commute to the office have a strong appetite for engaging in connected-commerce experiences ranging from ordering food on the go to paying bills via virtual assistants. In the How We Will Pay: Connected Commuters research brief, PYMNTS details how mobility is driving demand for connected-commerce experiences.
Report: Millennials, Buy Now Pay Later And The Shifting Dynamics Of Online Credit
Nearly 90 percent of millennials have credit cards, yet still seek new ways to finance their online purchases. In the Buy Now, Pay Later: Millennials And The Shifting Dynamics Of Online Credit report, PYMNTS surveyed a national sample of nearly 15,000 U.S. consumers between March and September to better understand the demand for buy now, pay later options among millennials and how it fits into their overall online credit mix.
eBay: Offline Payment Preferences Are Changing Online Habits
Consumers’ newfound affinity for touchless shopping and payment experiences at brick-and-mortar stores is influencing how they shop online, says Keala Gaines, vice president of global payment services for eCommerce marketplace eBay. In December’s The Anatomy of Consumer Payments Playbook, Gaines explains how QR codes and mobile wallets play an important role in driving conversion and loyalty.
Fun, Cool And Otherwise Interesting
Pet Scams Rise As Holiday Buyers, At-Home Workers Seek New Pets
Consumers are taking advantage of remote work to buy new pets, but scammers are taking advantage of these quarantine puppies: Pet fraud has exploded during the pandemic to $3.1 million in consumer losses. That’s more than double the rate from 2019, according to the Better Business Bureau.
Retail Will Play Major Role In Vaccine Distribution
The federal government has selected several retailers to act as distribution points when the COVID-19 vaccines are ready to go. Grocers, in particular, are expected to see an uptick in consumer traffic because of it.
Tis The Season … For Omnichannel Returns?
Record eCommerce sales will translate into high rates of returns this holiday season. Amid the pandemic, retailers must consider the different ways consumers want to return what they don’t want — in person and/or by mail.
Airbnb, DoorDash And The Appeal Of The ‘Platform’ IPO
Platform companies are coming to market with increasing frequency. Airbnb is only the latest example. Here’s why they are drawing attention — and billions of dollars and soaring stock prices — on Wall Street.
Ikea And What Comes Next For Printed Catalogs
It’s been a seven-decade-long run, but Ikea is formally saying goodbye to its printed catalog. But while digital shopping is transforming brands all over the world, catalogs aren’t vanishing completely. When used in the right contexts, they still pack a punch.