Tag: credit card

E-payment & Data Security, Tech

Ballooning credit card balances already loom over 2024’s retail sales

March 18, 2024

Via: Retail Dive

Retail sales in January and February indicate a possible pull-back in consumer spending, which some analysts warn is due at least in part to burgeoning credit card debt that could continue throughout the year. Retail sales in November and December, […]

News & Trends

What is the Future of Credit Card Payments?

February 15, 2024

Via: Lightspeed

In the past few years, we’ve seen a total upheaval in the way consumers spend their money. The pandemic, a looming economic crisis, rising inflation and higher costs of living have contributed to a tumultuous and confusing time for consumers […]

News & Trends

Credit card debt tops $1 trillion, before the holidays even arrive

October 2, 2023

Via: Retail Dive

Holiday shoppers this year may have less room on their credit cards, and little enthusiasm for making that worse. In July, 61% of U.S. consumers lived paycheck to paycheck, 2 percentage points more than a year ago, according to research […]

Customer Experience, Loyalty Programs

Overstock Looks to Drive Loyalty with New Co-Branded Credit Card

February 9, 2023

Via: Retail TouchPoints

Online furniture and home furnishings retailer Overstock has partnered with Citi Retail Services to offer customers digital-first benefits and rewards through a co-branded Overstock Mastercard. “As a customer-focused online retailer, we’re always exploring new ways to better provide smart value,” […]

E-payment & Data Security, Tech

Card payments soared to 90% of retail transactions in 2021

December 9, 2022

Via: Charged

Card payments soared to 90% of total retail spending in 2021, with 82% of transactions on either on debit or credit card, up from 75% of transactions in 2020, according to the latest annual Payments Survey from the British Retail […]

News & Trends

Are Visa and Mastercard’s swipe fees out of control?

March 11, 2022

Via: RetailWire

The Merchants Payments Coalition (MPC) earlier this week sent a letter to the House Financial Services Committee calling on it and Congress to investigate what the trade association calls Visa and Mastercard’s anti-competitive dominance over the U.S. credit and debit […]

E-payment & Data Security, Tech

It’s time to make payment processing part of your customer experience

September 20, 2021

Via: Retail Dive

Payment processing has been viewed as a commodity like copper or crude oil. And like a commodity, choosing which payment processor has been a decision based on “lowest cost.” While that logic may have made sense when the credit card […]

Others, Tech

Four Trends Driving Retail Technology Today

January 31, 2020

Via: Forbes

How we shop and what we buy is changing. Store closures of established department stores or the sudden successes of new direct to consumer brands often feature in the press, but less attention has been paid to what lies under […]

E-payment & Data Security, Tech

Millennial, Gen Z shoppers lead contactless payment adoption

January 17, 2020

Via: Retail Dive

Retailers, including J.C. Penney, Target and Amazon, have been investing in contactless payments, with varying levels of success. Going contactless within five years may sound like a stretch to some, but a report from London-based research firm RBR predicts that […]

E-payment & Data Security, Tech

Cybercriminals latest retail target? Loyalty programs

January 2, 2020

Via: Retail Dive

From Nieman Marcus to Macy’s, StockX and Poshmark, retail data breaches have repeatedly made headlines for exposing consumers’ credit and debit card information. But while consumers may be watching their credit card and bank account balances for suspicious activities, another […]

News & Trends

Retailers decry proposed swipe fee settlement

September 20, 2018

Via: Retail Dive

Retailers have been fighting the swipe fee fight for over a decade now. And they’re still not happy. “The monetary settlement doesn’t solve the problem. Swipe fees cost retailers and their customers tens of billions of dollars a year and […]

Customer Experience, E-payment & Data Security, Loyalty Programs, Tech

Walmart reportedly mulls credit card switch

July 13, 2018

Via: Retail Dive

When Costco moved its longstanding store-branded credit business to Citigroup, it banked on better customer perks to ease the transition. It was a bumpy road, however, as cards were sent out late and customers had trouble activating them. Two years […]

Customer Experience, Loyalty Programs, Point of Purchase

Ikea’s new credit card offers cash back, but only for Ikea purchases

May 17, 2018

Via: Retail Dive

Ikea’s new card arrives at a time when private-label store credit cards are rapidly evolving. More retailers who hadn’t offered their own cards, such as Lucky Brand, are getting into the game, while retailers with established credit cards, such as […]

E-payment & Data Security, Tech

PayPal boosts POS presence with cash-back credit card

August 31, 2017

Via: Retail Dive

PayPal has announced the PayPal Cashback Mastercard, a new cash-back credit card exclusively for PayPal account holders that offers 2% cash back on online and in-store purchases where Mastercard is accepted, a PayPal press release stated. The card, issued by […]

Customer Experience, Loyalty Programs

Young shoppers moving away from traditional credit cards

June 12, 2017

Via: FierceRetail

It seems both retailers and shoppers are moving away from traditional credit cards at checkout in favor of store cards that offer loyalty perks or financing options. Particularly among younger demographics, 52% of Generation Z and 60% of millennials are interested […]

E-payment & Data Security, Retail Types, Stores, Tech

Costco’s Credit Card Transfer Issues Didnt Affect Sales, Profits

October 4, 2016

Via: Consumerist

Costco’s complicated, complaint-riddled switch from an American Express-branded store credit card to a Visa Citi card may have been a big issue for the membership store’s customers, but it apparently wasn’t a problem for the company’s bottom line. Costco recorded […]

E-payment & Data Security, Tech

EMV implementation is a waiting game

July 8, 2016

Via: FierceRetail

The transition to EMV technology for credit card transactions was supposed to be complete last October, but fewer than half of retailers report being in compliance thanks to delays in certification by the banking industry. Just 48 percent of retailers […]

Customer Experience, Loyalty Programs

CostCo Offering New Credit Card In Effort To Boost Membership

April 5, 2016

Via: Innovative Retail Technologies News

Costco announced last year that it planned to end its sixteen-year relationship with American Express in favor of a new agreement with Citi to offer a new store-branded Visa Card. Now, that new “Costco Anywhere Visa Card by Citi” doubles […]

E-payment & Data Security, Editorial

How to fend off PoS malware in 2016

February 17, 2016

Via: Russel Edwards

One of early 2016’s cyber-security incidents consisted in the Hyatt hotel chain disclosure that almost half of its global payment processing systems endpoints have been infested with malware, active for 6 months during 2015. As the Kasperky Lab blog pointed […]