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Today In Payments: Amazon Introduces Smart Shopping Carts; Europe Reopens, Shopping Spree Underway

In today’s top news, Amazon introduced shopping carts that let customers skip checkout lines, and retail sales in Europe surged by nearly 18 percent. Plus, Robinhood raised $320 million.

Amazon Introduces Smart Shopping Carts At LA Supermarkets

Amazon has introduced the next generation shopping cart that lets customers skip checkout lines. The “Dash Cart” is debuting at its Woodland Hills, California, grocery store, tracking orders and charging customers to their linked credit card.

Europe Reopens, Shopping Spree Underway

Retail sales in Europe surged by nearly 18 percent in May compared to April, as shoppers loaded up on clothing, furniture and computer equipment. Germany and France led the way, where government data reports spending has returned to almost where it was a year ago.

Robinhood Raises $320M, Valuation Hits $8.6B

Commission-free online brokerage Robinhood said Monday (July 13) that it has added $320 million to a funding round disclosed in May, bringing the total for the round to $600 million and producing a valuation for the company of $8.6 billion.

BNPL Sezzle Raises $55M

Minneapolis-based buy now, pay later (BNPL) firm Sezzle has raised $55 million in its latest capital round. According to a press release, the money will go toward furthering the company’s growth strategy and strengthening its balance sheet.

Visa Launches Visa Installments Pilots In The US

Customers and merchants like the option of having point-of-sale (POS) installment plans, but Cetin Duransoy, Visa’s global head of installment solutions, tells Karen Webster the challenge is to make that option available wherever consumers shop — and without having to continually reapply for credit. Visa’s announcement of the launch of Visa Installments, he says, is a big step in that direction — globally. Here’s the how and why.

The Four Features That Spend-Conscious Consumers Want From Mobile Card Apps

Cash-strapped consumers seek more control on their spending during the economic downturn, something that can be especially challenging now that commerce has shifted online. In the Building Better Card App Playbook: The Card User Preferences Edition, PYMNTS surveyed more than 3,000 cardholders to reveal the four must-have features that users of debit cards and balance-revolving credit cards want from their cards’ apps.

Wells Fargo’s Teller, ATM Transactions Drop 28 Pct Amid Pandemic

Wells Fargo reported that its teller and ATM transactions plunged 28 percent in the second quarter amid pandemic-related temporary branch closures.

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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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