PYMNTS’ Summer of Big Quotes, From Tariffs to Trust Codes

Summer is over. Time for PYMNTS to look back on the season’s best quotes from PYMNTS Intelligence and our news and feature stories.

“They have white labeled premium products or materials for highly purchased categories like athletic wear. They also have established exclusive partnerships with athletic companies to carry products on online storefronts like Nike. This has enabled Amazon to be the easiest platform for customers to buy and return products. More and more customers are using Amazon as a one-stop search engine versus going to each of their brand’s websites individually.”
—Amrita Bhasin, CEO of reverse logistics company Sotira on Amazon’s dominance in apparel

“Over 90% of U.S. adults use debit, yet most brands don’t reward that spend. Galileo’s Co-branded Debit Card changes that. Our API-first platform simplifies the tech stack and accelerates time to market
—Derek White, CEO of Galileo, from “Rethinking Rewards With a Loyalty Platform for the Debit Generation”

“Instead of click to buy, we are moving to ‘code to buy.’ Agents are nothing more than lines of code. Making sure that code is tied to the right consumer, with clear consent parameters, is essential to building trust.”
—Trulioo CEO Vicky Bindra on his firm’s new agentic AI collaboration with Worldpay

“Strip away the digital tools (which are mostly mobile), and what you find underneath is remarkably familiar: Young people want to build credit, save money, buy things with the least amount of friction, stay healthy, go to concerts and watch movies, and connect with friends.”
—From July’s “The Gen Z Decoder Ring,” by PYMNTS Intelligence

“Obviously, 0% transactions are somewhat less profitable for us. They’re still profitable … but the interest income that comes in interest-bearing loans is obviously more profitable … the experience using Affirm is so positive, they do convert to interest-bearing users just fine, and come back to us for many other things than just ‘zeroes.’”
—Affirm CEO Max Levchin on whether consumers embracing the 0% APR offerings shift to repeat usage

“Some firms attempt to absorb the costs, reducing profitability to preserve customer loyalty. Others trim product assortments, cutting lower-margin items from shelves. A few attempt to differentiate with premium offerings that justify higher prices. Even those face resistance as those who serve the consumer find middle-income consumers cutting back. This strategy is not sustainable. Businesses cannot lose money indefinitely. At some point, they must either raise prices more aggressively or thin product selection. Both choices carry risks. Higher prices may further dampen demand. Fewer products may reduce consumer choice and weaken competitive positioning.”
—PYMNTS CEO Karen Webster on tariffs from “Tariffs. Who Really Pays.”

“This isn’t a world where you can go and say, ‘I have a North Star in mind. I’m going to take the next four years to get there,’ because in four years, the landscape will look radically different than it does today in terms of consumer behavior and consumer expectations.”
—Matt Swatzell, head of Solutions, North American Acceptance at Visa, commenting on the “Rise of the Mobile-First Shopper” series.