eCommerce Crowns, Twin Loops And The Feel-Good App Of The Season

Welcome to What’s Trending In Payments – a weekly look at the most popular, irreverent and important stories the payments industry had to offer over the past five days. Which companies grabbed the most headlines – for better or for worse – this week, and which topics have the industry abuzz with intrigue, laughter or disbelief? Featuring breakdowns from the staff and commentary by Karen Webster, here’s our take on what all of you payments peeps thought.

Pinterest Steals Facebook’s eCommerce Crown

Why It’s Hot – Facebook has long been the perceived as the social platform that would help deliver more eCommerce to masses, but in just four years, Pinterest has edged it out to reach number one.

Karen’s Commentary – Not surprising. Eighty-four percent of Pinterest users are women with an average income of $100k – an AVERAGE income of $100k – and we all know that women do the shopping. They are the big spenders – oh, and Pinterest doesn’t have to convince users that the world (or most importantly their husbands…) won’t find out that they just bought that red ponyhair bag with grommets from Burberry. Put a in Pin in that one …

PYMNTS Commentary – Our big takeaway? This proves that King Facebook isn’t bulletproof after all, and that the social space might just have more room for the taking. Kind of makes you want to give up being a doctor, doesn’t it?

Top Tweet – @smclt – “Facebook is about brand awareness Twitter = info sharing Pinterest = ecommerce Instagram = storytelling” @SamAShepard #smclt

VCs See Double With Twin Loop Fundings

Why It’s Hot – We were seeing double yesterday when it was revealed that Loop and Loop commerce both received new funding rounds, and the release had us checking more than a few facts before the dust settled. Could a battle of the Loops be near?

Karen’s Commentary – Well, it’s a very good thing that we weren’t out of the loop on this one … hehe

PYMNTS Commentary – While both Loops seem promising, we’re giving the edge to Loop over Loop Commerce. Online gifting is nice, but cracking mobile payments? That’s a gift that keeps on giving.

Top Tweet – @jameswester – A Mobile Wallet Game Changer $10 million funding announced — WADR to @JimMarous, same game. No change. 

Homeless Coder Releases Feel Good App Of The Season

Why It’s Hot – Because if you were thinking your excuse for not having a mobile app was a good one, you were wrong.

Karen’s Commentary – Reading this story made me want to thank the guy who dedicated his time to helping his homeless protégée learn a skill. And to scream at those who used the power of the media to criticize him for not doing “enough.” Like they’ve probably done so much – or anything – themselves. There will always be people who live in those glass houses and keep throwing stones because they know no other way, what a shame for them.

PYMNTS Commentary – Not only does this go to show the power the mobile, but doesn’t everyone love a heartwarming story in time for the holidays?

Top Tweet – @sanjay – teach a man to code (not fish) and he can help change the world.–and-you-can-download-it-right-now-195026043.html …


New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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