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Five At Five: Apple Cuts Some iPhone Production

Five at Five: Payments News

Welcome to Five at Five, your late look at the day’s payments and commerce news. Today’s coverage includes the latest about Apple’s plans for iPhones and President Trump’s plans for Big Tech. A convenience store chain rolls out scan-and-go, Ingenico has new leadership and news emerges about Sears and its bankruptcy plans.

Apple Reportedly Calls off iPhone XR Production Boost

The company has reportedly told Pegatron and Foxconn to stop plans for more production lines for the phone. With the new outlook, Foxconn might make 100,000 fewer phones each day.

President Trump Says Government Will Investigate Tech Giants

Trump said that a previous administration has toyed with breaking up the tech industry.

7-Eleven Rolls Out Scan-And-Go for Dallas Customers

Convenience store operator 7-Eleven is rolling out scan-and-go options for customers in 14 stores in Dallas later this week, with an aim to equip all of its U.S. stores with the technology by next year.

Ingenico Brings on New CEO

The company said that Philippe Lazare will step down from his current positions as both CEO and chairman.

Sears’ Lampert Will Not Fund Bankruptcy Financing Package: Report

On Dec. 15, Sears faces a deadline to designed a stalking-horse bidder “that would make an initial offer, which others could later top, for hundreds of stores that would survive under a new owner.”

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LIVE PYMNTS ROUNDTABLE: MODERNIZING & SCALING FOR THE NEW NORMAL

The pressure on banks to modernize their payments capabilities to support initiatives such as ISO 20022 and instant/real time payments has been exacerbated by the emergence of COVID-19 and the compelling need to quickly scale operations due to the rapid growth of contactless payments, and subsequent increase in digitization. Given this new normal, the need for agility and optimization across the payments processing value chain is imperative.

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