News

Five At Five: U.S. Banks Notch Big Victory

Welcome to Five at Five, your late look at the day’s payments and commerce news. Today’s coverage includes news about recent bank failures and an accusation against LuLaRoe. Sears is still in the bid game, a mobile banking operator thinks big and holiday sales in the U.K. disappoint.

US Banking Industry Had No Failures in 2018

Last year was the first time since 2006 that not one U.S. bank failed during the year, and the third time since the Federal Deposit Insurance Corp. (FDIC) was founded in 1933 that an entire year went by without a bank going under.

LuLaRoe Founders Accused of Hiding Millions from Creditors

Los Angeles-based clothing maker MyDyer, which was LuLaRoe’s main clothing manufacturer, is now suing the company for $48.7 million for unpaid products and services.

Sears Gives ESL Another Chance at Bid

The news comes after Sears Holdings had reportedly turned down a bid by Chairman Eddie Lampert to help the retailer keep its doors open.

N26 Has $2.7B Valuation After Latest Funding Round

The European mobile bank operator said that with the Series D round of funding, it has a valuation of $2.7 billion.

UK Retailers’ Holiday Sales Have Worst Performance in a Decade

Despite steep price cuts, retail sales had their worst performance since December of 2008.

——————————

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.

TRENDING RIGHT NOW