Today In Payments: Affirm Sees Travel Spending Surge; Leaked Walmart Memo Shows Grocery Lead Slipping

Today in Payments

In today’s top news, Affirm’s earnings report showed growth in spending and the use of installment payments, and grocery competitors are beginning to worry Walmart executives, according to a leaked Walmart memo. Plus, regulators are heightening their scrutiny of the cryptocurrency industry.

Affirm Sees Travel Spending Surge, Growth In Shop Pay Installments

Consumers are increasingly willing to spend as the economy recovers and as individuals and families have paid down debt and bulked up savings. Buy now, pay later (BNPL) company Affirm posted results that topped expectations, with particular strength in the travel vertical.

Leaked Walmart Memo Shows Grocery Lead Slipping

Players across the grocery industry have been ramping up their offerings over the past 14 months in hopes of attracting new customers amid a pandemic-induced surge in grocery shopping. While Walmart remains ahead of the pack for now, a leaked memo shows that executives are beginning to sweat, as Walmart shoppers turn to competitors more and more.

Regulators Take Aim At Cryptos’ ‘Wild West’ Environment

Wild price swings. Exchanges collapsing due to fraud. Bitcoin, Dogecoin and all manner of coins and tokens are likely to draw more regulatory scrutiny, here and abroad … especially with a new SEC head in place.

Ransomware As A Service Blamed For Gas Pipeline Attack

The cyberattack on the Georgia-based Colonial Pipeline, orchestrated by the cybercrime gang known as DarkSide, demonstrates the growing sophistication and threat of ransomware as a service.

NEW DATA: Banks Win When Consumers Control Mobile Banking App Authentication

Personalization is key when it comes to mobile banking app security — just ask the two-thirds of consumers who say it is highly important to be able to set security requirements for specific transactions. In the Mobile Banking App Playbook, PYMNTS surveys 2,581 consumers to examine how giving customers the control can foster trust and give them an added sense of security.

GPay Teams With Western Union, Wise To Take P2P Global

Google Pay has teamed with Western Union and Wise to take P2P cross-border. Google Director of Product Management Josh Woodward told PYMNTS in a conversation shortly before the news went live that it’s just the first step in furthering Google’s plans to go deeper into remittances.

Epic Wings’ COO Talks Streamlining Restaurant Operations To Fast-Track Growth

Fast-casual chain Epic Wings has been expanding throughout the pandemic, most recently announcing a 39-unit franchise agreement that will open new locations in four major markets. President and Chief Operating Officer sat down with PYMNTS to discuss the chains’ operations, and its goal to open 100 new stores this year.