Turkish FinTech Colendi says it’s set to launch the country’s first digital deposit bank. That announcement came Monday (Aug. 21), after Colendi received approval from the Turkish Banking Regulation and Supervision Agency (BRSA). “As Turkey’s first digital bank, ColendiBank will target growing the platform to reach 50 million customers regionally,...
The battle for loyalty — from merchants and consumers — may be won along the last mile. The news Monday (Aug. 21) that Amazon would re-instate its shipping service to handle deliveries deepens the battle between the eCommerce giant, the traditional carriers like UPS and FedEx and...
Goldman Sachs could sell its personal financial management business as it moves away from retail banking. “We see continued opportunities to invest in this segment but with less strategic impact to GS,” the bank said in a statement provided to PYMNTS Monday (Aug. 21). “As such,...
That age-old routine of daily life — the grocery run — is getting a makeover thanks to advanced technology, specifically artificial intelligence (AI) and self-service models. As noted in PYMNTS’ study “Digital-First Banking Tracker® Series Report,” self-service retail is fast becoming a preferred consumer experience...
Ghost has raised $30 million to grow its members-only B2B marketplace that helps brands and retailers move surplus inventory. The firm will use the capital from this Series B funding round to add to its product, engineering and design team; further develop its platform; and expand into new...
Shopping over social media seems to be the next frontier of eCommerce spend, with 43% of consumers (approximately 110 million individuals) browsing these platforms to find goods and services. However, only 14% (36 million individuals) buy those goods and services via social media. Data shows...
In 1968, Vogue magazine published an article titled “Can Great Skin Be Created?” by beauty editor Carol Phillips. It caught the attention of dermatologist Dr. Norman Orentreich and journalist Evelyn Lauder, who were both intrigued by the idea of merging dermatology and cosmetics to create a...
As Richemont acknowledges the declining influence of China on luxury shopping, Kering is seeking to delve deeper into the market, aiming to connect with consumers who remain eager to spend. The company has introduced Gucci’s newly opened flagship store, now accessible on China’s JD.com. This...
Consumers in China have started trading down, and the country’s eCommerce giants are acting accordingly. Companies like Alibaba and JD.com have launched campaigns to promote lower-priced items, The Wall Street Journal (WSJ) reported Monday (Aug. 21). “We try to give users an experience that good merchandise doesn’t have to be...
