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Five at Five: Sears Looks To Amazon For Some Verve

Welcome to Five at Five, your late look at some of the freshest payments news of the day. Today’s stories include a new deal Sears signed with Amazon, a digital gifting acquisition and a new robotic kitchen. Additionally, a major fashion retailer is embracing Big Data, while a consumer electronics survivor tweaks its image.

Sears Inks Deal With Amazon To Install Tires Bought Online
Sears Auto said it will be the first auto service center around the country to offer Amazon customers a Ship-to-Store option at checkout on Amazon. Customers choose their tires, the Sears Auto location, and the date and time of the installation.

Synchrony To Acquire Loop Commerce
Using Loop Commerce’s GiftNow feature, consumers at participating retailers can send any product to any recipient using only their email address. They can then schedule a time for that item to be delivered in real time.

Robots And Spyce: Everything Nice?
Spyce has launched a fully robotic kitchen, which enables the bowl-based restaurant to fit into a postage stamp of real estate in Boston’s bustling Downtown Crossing district.

H&M Looks To Big Data For Store Insights
The fashion retailer H&M is using algorithms to gain insights from returns, receipts and data from loyalty cards to improve its bottom lines. The company is utilizing the technology in a store located in an upscale section of Stockholm, Sweden.

Best Buy Minimizes Iconic Price Tag In New Logo
The new design moves Best Buy’s wordmark outside the giant yellow tag, making it a less noticeable part of the layout. Best Buy said the rebranding is “designed to highlight our culture, our expertise and our talented employees.” But one publication had another interpretation of the change.

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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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