Here’s the best global payments news that crossed our desk this week, all curated and quickly accessed for your weekend reading enjoyment via Payments NEXT.
Retail sales prediction: Black Friday & holiday sales could jump 15.5%
A new report from Internet Retailer suggests US 2018 holiday retail sales could grow by 15.5% this year. US shoppers are expected to spend $119.99 billion in online shopping in November and December 2018 compared with $103.80 billion spent during the same timeframe last year. Read more…
Top 3 Cybersecurity Vulnerabilities Your Business Faces Now
For many companies, cybersecurity is an area that’s easy to cut back on, but that can prove to be an expensive mistake. According to the PwC Global Economic Crime Report, cybercrime is now the second most reported economic crime, affecting 31% of organizations. The percentage is high, and if cybersecurity doesn’t become a priority in business, it will certainly get higher. Read more…
Regtech compliance disruption growing; spending will reach $115.9 billion
Along with the disruption in the financial market by technology are the growing burdens of compliance and its impact on the financial industry. A new whitepaper from Juniper Research projects spending on Regtech platforms will exceed $115 billion by 2023, up from an estimated $18 billion in 2018. The report shows that since the 2008 financial crash, US regulators have imposed more than $10 billion in fines for noncompliance by financial institutions. Read more…
Payments news roundup: Global payments trends, highlights, innovations
Here’s the best global payments news that crossed our desk this week, all curated and quickly accessed for your weekend reading enjoyment. We start with PayPal’s acquisition of iZettle for $2.2 billion. Amazon’s Alexa introduces six new products, hoping to dominate the voice shopping market. Same-day ACH payments are getting more popular with companies.
In New Jersey, legislators consider banning cashless stores. according to research from Valassis, 82% of consumers use coupons for shopping weekly. One-third of US consumers now smart speakers. Voice shopping anyone? Much more news ahead. Read more…
PayPal acquires iZettle for $2.2 billion
PayPal Holdings Inc. announced today it has acquired iZettle for $2.2 billion. Founded in Stockholm in 2010, iZettle is a financial technology company that created a mini chip-card reader and software for mobile devices. The company works with small businesses in Europe and Latin America, providing payment tools and services. Read more…
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