On December 7, when thousands of retailers' credit card terminals suddenly stopped working, some wondered if they were the victim of a security breach. Fortunately, the mishap was instead blamed on the expiration of a cryptographic certificate used in older payment terminals made by Hypercom.
More than half of Generation Y consumers, 59 percent, prefer to shop at retailers that offer financing options, according to a new study by NewComLink. The survey looked at more than 2,000 consumers between the ages of 18 and 34--whose annual spending power is estimated to be $200 billion.
New Seasons Market has integrated a new software program meant to bring components of online commerce—including the ability to measure and personalize the store experience—to the offline world.
Apple Pay debuted this week to much fanfare, but it's not the only mobile payment platform in town. Competitor CurrentC is collecting retail partners and positioning itself as a formidable competitor, thanks in large part to its biggest partner: Walmart.
After the eBay and PayPal split in 2015, industry observers believe PayPal is going to be even more vulnerable to competition from Apple Pay, Amazon, Stripe, Square and other mobile retail payment systems.
Apple's new Apple Pay is expected to give other mobile payment methods a run for their money and boost overall security of mobile payments, attracting more shoppers to the technology.
Walmart announced it will roll out GoBank checking accounts in all stores by the end of October. GoBank checking accounts, launched by Green Dot, are mobile banking platforms linked with MasterCard debit cards that do not charge overdraft fees, minimum balance fees or monthly fees.
Since Apple announced the launch of virtual payment platform Apple Pay Sept. 9, brands have already signed on to use it, but Walmart wasn't interested in the new payment platform.
As mobile devices and digital currency play an ever-increasing role in retail, the Merchant Customer Exchange has unveiled a new mobile wallet called CurrentC, which already has the backing of big-box retailers such as Walmart, Target and Best Buy.
Macy's is hopping on the digital wallet bandwagon. The retailer said in an Aug. 26 announcement that shoppers would be able to use the new option to manage special offers and make in-store and online payments.