News

Retail
Saks Launches Luxury Personal Shopping and Styling Service at Resorts
June 02, 2023

Saks Fifth Avenue is now offering its luxury personal shopping and styling service at resorts. Previously offered only in the luxury retailer’s own stores, the Fifth Avenue Club is now available in private suites at select Marriott International’s The Ritz-Carlton and St. Regis Hotels & Resorts and other luxury resorts, Saks Fifth Avenue...

Retail
Shopify Launches Rewards Program for Users of Shop Pay
June 02, 2023

Shopify has launched a new rewards program for users of Shop Pay in the United States. The new Shop Cash program gives customers making eligible purchases 1% back in rewards that can be redeemed on the company’s Shop app, Shopify said in a Friday (June...

Retail
Chewy’s Recurring Orders Drive Growth and Investor Enthusiasm
June 02, 2023

Chewy stock experienced its most significant surge in nearly four years following the pet-products retailer’s sales performance that surpassed expectations. The company’s stock received a boost from the success of its recurring-purchase program.  Chewy CEO Sumit Singh said in a Wednesday (May 31) earnings release that net...

eCommerce
PIX, Pickup and Apps: The New Face of Retail Shopping in Brazil
June 02, 2023

PIX. Mercado Pago. Pickup. Apps. Data protection. These are a few of the digital shopping trends and payment options that are key to winning customers in Brazil — one of the world’s largest economies and one that is rapidly digitizing. As Brazil’s shoppers continue to...

Banking
US Open Banking Regulations Will Force More Bank-FinTech Collaboration
June 02, 2023

A changing financial industry is transforming the relationship between traditional banks and FinTechs. In the past, banks largely regarded FinTechs as formidable competitors, if not existential adversaries, due to the latter’s technological prowess, agility and superior customer experiences. This dynamic, however, has begun to swing...

Loyalty & Rewards
PYMNTS Summer Loyalty Series: 95% of Ulta Beauty Sales Driven by Loyalty Members
June 02, 2023

Loyalty is a beautiful thing for consumers and retailers, and loyalty in the beauty space is doubly so, in that choice of retailers and products are deeply personal, literally modifying how we present ourselves visually to the world. That gives beauty brand loyalty unique qualities....

IPO
FinTech IPO Index Rallies 3.4%, SoFi Soars on Optimism Over Student Loans  
June 02, 2023

The FinTech IPO Index’s 3.4% gains were outpaced this week by outsized momentum in names like SoFi, while earnings reports in other holdings continued to impact trading. Shares in SoFi soared 28.1.%. As has been widely reported, as part of the agreement on Capitol Hill...

Ridesharing
Uber Launches Products, Features for Business Travel
June 01, 2023

Business travel is making a comeback and Uber is capitalizing on the trend with new products and features designed to make the journey smoother, more comfortable, and more efficient for business travelers. In a press release posted Thursday (June 1), Susan Anderson, global head of Uber...

Banking
JPMorgan Chase Closing 25% of First Republic’s Branches After Acquisition
June 01, 2023

J.P. Morgan Chase will close 21 of the 84 branches of its recent acquisition, First Republic Bank. About 100 employees will be affected by the closures, Reuters reported Thursday (June 1). They will be offered six-month transition assignments and will then be able to apply for other roles...