The turkey has been carved. Thursday offered a brief respite from the volatility that’s been a hallmark of the FinTech IPO Index. Into a shortened week, through the past five sessions headed into Turkey Day, the index slipped 1.1%. Paysafe shares slipped 13.9%, among the...
As inflation takes its toll on consumer spending, luxury consignment stores are grappling with the effects, witnessing a notable increase in the challenges associated with high-end fashion. The RealReal is undergoing a comprehensive revamp, involving alterations to its commission system, a reevaluation of its supply...
Shoppers in the United Arab Emirates (UAE) have a strong inclination toward digital features in their shopping journeys. Ninety-four percent of consumers in the Middle Eastern country used at least one digital shopping feature offered by merchants during their most recent retail experience, surpassing all...
Online retailers Temu and Shein reportedly draw millions of visitors to their websites but struggle to convert those visits to sales. Despite their popularity, the two retailers still lag behind market leader Amazon in terms of conversion rate, Reuters reported Wednesday (Nov. 22). Nine out of 10 visitors to Temu’s and Shein’s websites...
Businesses expect that handling payments — both sending and receiving them — will become even more crucial in the future. On average, companies anticipate a 50% increase in payments made and a 46% surge in the number of invoices dispatched in the upcoming three years....
Nordstrom, once known for its opulent runway and exceptional service, is increasingly delving deeper into substantial discounts to navigate financial challenges. But is it working? During the third quarter, Nordstrom opened 11 new Rack stores, with an additional one introduced early in the fourth quarter,...
Floward, a Middle Eastern eCommerce firm, is reportedly working with Goldman Sachs Group and HSBC Holdings for a planned initial public offering (IPO) in Saudi Arabia. The company, which specializes in delivering flowers and gifts, could go public as early as next year, Bloomberg reported Wednesday (Nov. 22), citing unnamed sources. ...
IDEX Biometrics has received an initial order for IDEX Pay, its biometric solution designed for metal cards, from a smart card manufacturing partner in Asia. The partner, who was not identified in the release, will deploy biometric metal payment cards for its bank clients worldwide,...
When it comes to B2B payments innovation, thinking outside the box isn’t enough. It’s time to redesign the whole package. That’s what PYMNTS learned from some of the payments industry executives we spoke to for a new series, “B2B Payments: Outlook 2024.” The pain points...
