News

Security & Fraud
Report: Ace Hardware Unable to Accept Online Orders Amid Cyberattack
November 03, 2023

Ace Hardware is reportedly recovering from a cyberattack that has left it unable to accept online orders. The news was first reported Sunday (Oct. 29) and has continued into Friday (Nov. 3), Engadget reported Friday. As of Friday morning, the home page of the home...

Retail
Burger King Owner Sees Drive-Thru as a Hold Back to Digital Transformation
November 03, 2023

As Restaurant Brands International (RBI) looks to reach 100% digital sales, the drive-thru channel remains a sticking point.  The quick-service restaurant (QSR) giant, which owns Burger King, Tim Hortons, Popeyes and Firehouse Subs, shared on a call with analysts Friday (Nov. 3) discussing the company’s third-quarter...

Payment Methods
PayPal’s Bet to Boost Security May Pay Off in Broader Usage
November 03, 2023

As consumers’ eCommerce activity grows, so does their use of digital payment methods. Merchants looking to boost engagement can offer these payment options to maximize conversions. Of all digital payment methods, PayPal, Apple Pay and Venmo are currently the three most used in the United...

Regulation
UK’s CMA Says Meta Commits to Protect Advertising Customers’ Data
November 03, 2023

The United Kingdom’s Competition and Markets Authority (CMA) said Friday (Nov. 3) that Meta has made commitments to not use its advertising customers’ data. These commitments aim to protect businesses and consumers from any unfair competitive advantage that Meta may have, which could distort competition...

Banking
Bank of England Official Says Technology Increases Risk of Bank Runs
November 03, 2023

With technology increasing the risk of bank runs, central banks must ensure that banks maintain appropriate liquidity insurance. So said Andrew Hauser, executive director for markets at the Bank of England, during a Friday (Nov. 3) speech at King’s College London. As an example of...

Loyalty & Rewards
Starbucks Taps Additional Rewards Partnerships to Widen Loyalty Audience
November 03, 2023

Starbucks is adding two new rewards partners to grow loyalty engagement and reach new customers. The world’s largest restaurant chain by revenue shared in its 2023 Reinvention Update and Holiday Launch presentation Thursday (Nov. 2) how, following its loyalty partnership with Delta, the company is...

Payment Methods
Payment Choice Is the Best Feature Merchants Can Offer Consumers
November 03, 2023

Consumers in different countries go for a diverse mix of shopping features, ranging from coupons and rewards to free shipping, availability of buy now, pay later (BNPL), or refunds in digital purchases. Of all of them, payment choice has remained the most important shopping feature...

Retail
Can Shop Cash Turn Shopify Into an Amazon Challenger?
November 03, 2023

I’m feeling flush. I got an email last Saturday from Shop that I had $43.40 in my Shop wallet to spend on the app. This was news to me, since I never knew I had one. But now I have one that Shop created for...

Fintech Investments
FinTech IPO Index Surges 6%, as SoFi and NerdWallet Post Quarterly Results 
November 03, 2023

Earnings season is in full swing, and has given several names in the FinTech IPO Index a boost. Through the past five days, the index surged 6%. NerdWallet shares soared 67%.  The company said last week that revenues of $153 million were up 7% year...