In today’s top news, Revolut Business is launching QR payment codes and Amazon will let customers “vote” on some of the new products the company may build. Plus, retail spending rose in January.
Revolut Business Introduces QR Codes For Payments
Revolut Business is launching QR codes to facilitate socially-distanced payments at all types of businesses through their phones using the Revolut Business app. The contactless solution facilitates instant payments over Wi-Fi so funds are cleared before the customer leaves the premises.
Amazon’s ‘Build It’ To Let Customers Vote On Products To Make
Amazon has launched a new “Built It” feature, which will let customers vote on what the eCommerce giant should make next. The company will occasionally post some various new ideas being considered, and if enough customers pre-order it within 30 days, the company will begin to build it. Customers will only be charged for items that are eventually made and shipped.
January Retail Sales Raise New Questions About Consumer Spending Rebound
Retail spending didn’t end with the holiday shopping season. The Census data showed healthy gains from December and from the year-ago period. The question remains whether the spending boosts are sustainable, or just an uplift caused by stimulus payments and more (proverbial) cash in the pocket, which means that the dry powder has already been lit.
Robinhood Allows Crypto Deposit, Withdrawal Including Dogecoin
Brokerage app Robinhood is joining the foray into cryptocurrency. The app, in the middle of investigations into the January GameStop trading incident, will allow customers to deposit and withdraw cryptocurrencies, including the meme-based dogecoin.
NEW DATA: Assessing The Credit Union, Member Payments Innovation Mismatch
Nearly 9 in 10 credit unions have put money behind mobile wallet innovations, but just 17 percent of CU members view that as a high priority for keeping their business. A PYMNTS survey of 4,817 consumers uncovers the five digital innovations CUs must move to the top of their agendas to improve the credit union member experience.
Visa Direct Powers Off-Cycle Payroll For ADP’s Wisely Platform
The Visa Direct platform will be plugged into the nation’s largest payroll company to extend off-cycle payments and potentially other services to employees and gig workers via ADP’s Wisely ePayroll platform. As Visa Senior Vice President and Global Head of Visa Direct Bill Sheley and Visa Direct Senior Vice President Ruben Salazar said in a recent conversation with Karen Webster, the offering takes aim at, among other things, the $2.2 trillion in payroll checks that ADP issued over the last 12 months.
Wall Street’s Great Democratization Needs More Than Just Technology
Reddit and Robinhood aside, what lies ahead for stock investing platforms in the bid to open up investing to the tech-savvy masses? Education, perhaps, and a bit of restraint, as Goldman Sachs and others bring new trading access to younger investors.
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