News

Apple Pay And A Decade Of Innovation Top Payments News This Week

What a week it’s been! And the PYMNTS Weekender is here to make sure you didn’t miss anything. We have deep, data-supported dives on Apple Pay, the outlooks for payments innovation in the 2020s, web sales taxes and Amazon’s holiday shopping season news.

Top News

What Apple Pay At Five Says About The Future Of Mobile POS Payments

At the time of iPhone’s live debut in October of 2014, merchants accounting for only 19 percent of all retail sales could enable an Apple Pay transaction, only 39 percent of all iPhones could support an Apple Pay wallet and just 11 percent of all consumers owned one.

Mastercard’s Jess Turner On SRC’s Global, Digital Milestone

Looking back, you might mark your calendar — Oct. 22 — as the dawn of digital commerce’s age of standardization.

Ten Years Of Payments Innovation And Reinvention

The mood in the air at the start of the 2010s was different from the one that preceded the start of the 2000s. The shift from 1999 to 2000 was (mostly) a joyous and cheerful environment. What’s in store for the 2020s?

Court Rules Only ‘Depository Institutions’ Eligible For OCC’s Bank Charters

Lights out for the FinTech charter idea? The Office of the Comptroller of the Currency (OCC) debuted a special purpose charter in 2016 that would have  given FinTechs a leg up on competing with traditional financial services companies. Nearly four years on, little progress has been made — and now there’s a significant stumbling block.

Visa: Tap-To-Pay Gains Steam, As B2B Volume Hits $1T, Annualized

Cards in the field, so to speak, were up 4 percent year on year to 3.4 billion, as measured company wide. Visa said that international transaction revenues gained 11 percent to $2.2 billion.

Trackers and Reports

Adoption Of Instant Payments For Disbursements Has Quadrupled In Three Years

Everyone loves to get paid, but no one likes waiting to get paid. Waiting for checks to arrive in the mail, or for bank deposits to process, can be frustrating — especially for consumers struggling to make ends meet between paychecks.

Trending: Mobile Order-Ahead Takes The Field (Kount Mobile Order Ahead Tracker)

New complexities and frictions are emerging every day as the mobile order-ahead industry continues to grow.

NRF On The Case For Revising eCommerce Sales Tax Laws

The 2018 South Dakota v. Wayfair ruling gave states and cities permission to tax remote sellers and online marketplaces based on their economic participation in the state, regardless of whether they had physical presences. State and local governments aren’t satisfied with stopping their tax updates there, however, with many exploring if the Supreme Court ruling also opens the door to applying a wider range of taxes on remote merchants including corporate net income tax. Online retailers aren’t sitting still when faced with new taxes — and some are even fighting back in court.

Fun, Cool and Otherwise Interesting

Does Destination Maternity Chain Bankruptcy Signal Larger Trends?

Another retail chain seems ready to bite the dust.

Zuckerberg Tells Congress That Libra Fills A Global Payments Void

It may be a bit ironic that the halls of Congress are known, colloquially, as the Hill. It’s an upward climb, after all, for Facebook — specifically for Libra.

Amazon CFO Warns Of A Dimmer Christmas, Even With Better Delivery

The coming holiday season — so important to retailers — promises to bring quicker deliveries to more consumers, more commerce-enabled homes and less revenue than expected for Amazon.

Apple Card And The FinTech, TechFin Conundrum

So far, the young life of the Apple Card has turned out pretty — perhaps even spectacularly — good, depending on the source. However, the real tests are yet to come, as is the case for anything new and popular.

Visa: She’s Next Initiative Goes Global

Though the launch was stateside, the program has always been envisioned as a global effort.

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NEW PYMNTS DATA: HOW WE SHOP – SEPTEMBER 2020 

The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

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