Retail TouchPoints

JANUARY 23, 2025

that, together, process millions of returns every month. has nearly doubled over the last six years, now accounting for roughly 17% of all merchandise sold, according to Timothy Fehr, COO of Happy Returns, citing research conducted in partnership with the National Retail Federation. The rate of goods returned in the U.S.

Returns 272

Returns Merchant Services Payment Services Drop-Shipping 272

Retail TouchPoints

DECEMBER 30, 2022

Using our payment card whilst we shop online rarely gives us pause, and the many millions who buy online generally trust the system. However, the recent busy shopping season means it’s a good time to remind ourselves that there is an ongoing battle to make sure that the payment card data of your customers remains secure.

Merchant Services 330

Merchant Services Payment Services Consumer Location 330

Retail TouchPoints

FEBRUARY 26, 2025

A recent study found that three-quarters of consumers will avoid a brand after a cybersecurity issue, and more than 40% assume that brands are to blame when an incident occurs. Another survey of online consumer attitudes found that 84% wont go back to an ecommerce site after a fraud experience there.

Payment Services 236

Payment Services Returns Accounting Shipping 236

Retail TouchPoints

MARCH 27, 2023

If we thought the pandemic-driven shift to digital payments was an evolution, we’re about to be catapulted into a new world, where payments will become possible in places thought impossible just a few years ago. Currently, consumer payments account for more than 60% of all embedded finance transactions and are set to reach $3.5

Payment Services 264

Payment Services Finance Consumer Accounting 264

Retail TouchPoints

APRIL 7, 2025

3D Secure (3DS) is an additional layer of cardholder security and authentication for online card transactions, and more and more large retailers are wanting to add it into their payments process. This not only expedites processing for legitimate customers but also more accurately flags fraudulent charges.

Payment Services 162

Payment Services Checkout Consumer Accounting 162

Retail TouchPoints

FEBRUARY 23, 2022

No matter how fast the modern payment ecosystem is developing, the pursuit of the best customer experience isn’t going anywhere. To answer customers’ demands, business leaders must find the balance between adapting services to consumers’ digitally-driven shopping behaviors and staying true to the company’s strategy.

Payment Services 360

Payment Services Checkout Telecommunications Social Commerce 360

Retail TouchPoints

JUNE 7, 2021

The increase in social media usage, combined with a tandem increase in online purchasing, proved to be the push both consumers and brands needed to move into the burgeoning realm of social commerce. after Google, accounting for 25.2% Trust Plays a Big Role in Consumers’ Willingness to Shop on Social.

Payment Services 249

Payment Services Social Commerce Consumer Advertising 249

Retail TouchPoints

OCTOBER 18, 2024

Fraud has plagued retailers for quite some time, but the issue is now getting its time in the spotlight due to the increased use of AI within the industry, as well as consumers’ general awareness of the trend. This is a more straightforward use case for AI implementation, and one that consumers have come to know and crave.

Accounting 305

Accounting Consumer Payment Services Planning 305

Inside Retail

JANUARY 9, 2025

Once, borrowing money to make a purchase was a relatively tedious process, not a spur-of-the-moment thing. In recent years, though, the financial technology or fintech revolution in the customer credit market has changed all that, with the meteoric rise of buy-now-pay-later (BNPL) services. But does it also change our spending habits?

Merchant Services 130

Merchant Services Payment Services Consumer Checkout 130

Retail TouchPoints

SEPTEMBER 26, 2024

New account fraud is surging, and despite the conventional wisdom that this type of fraud is mostly a problem for banks, retailers are in the crosshairs too. In fact, account creation fraud rates are growing fastest in the retail sector, with 44.7% Data breaches have been a problem for many years, but 2023 was the worst yet for U.S.

Accounting 261

Accounting Payment Services Consumer Customer Experience 261

Retail TouchPoints

NOVEMBER 14, 2024

Businesses today operate in a fast-moving cyber threat landscape. As digital operations become more complex and cybercriminals launch increasingly sophisticated phishing and malware attacks, data breaches have become common occurrences. For retailers and consumer businesses, a surge in data breaches presents difficult challenges.

Payment Services 277

Payment Services Consumer Management Point of Sale 277

Retail TouchPoints

OCTOBER 21, 2022

That inherent distaste for the transaction phase is one reason payment companies are so eager to expand into other parts of the shopper journey. taking place online, digital payment solutions like Venmo and PayPal (which has owned Venmo since 2013) are well positioned to capitalize on the opportunity.

Merchant Services 338

Merchant Services Payment Services Checkout Finance 338

Retail TouchPoints

OCTOBER 21, 2024

In 2023, fraudulent returns accounted for a staggering 13.7% With the rise of ecommerce, direct-to-consumer (DTC) retailers are particularly vulnerable as their online-only presence provides fertile ground for fraudulent activities. Refund fraud is a significant issue for U.S. retailers, costing billions of dollars annually.

Returns 278

Returns Accounting Payment Services Location 278

Inside Retail

JULY 4, 2023

As their popularity continues to surge, it is crucial for retailers to consider embracing crypto acceptance as a payment option. There are a number of businesses across Australia already accepting cryptocurrency payments. Mitigating the volatility of cryptocurrencies can be a barrier for retailers as a payment option.

Payment Services 264

Payment Services Merchant Services Point of Sale Finance 264

Retail TouchPoints

MAY 24, 2024

The Consumer Financial Protection Bureau (CFPB) has issued an interpretive rule confirming that buy now, pay later (BNPL) lenders are in essence credit card providers, meaning they will be required to provide consumers with legal protections and rights, including in cases of disputed charges and issuing refunds. 1, 2024.

Consumer 264

Consumer Payment Services Returns Accounting 264

Retail Minded

MARCH 20, 2025

To safeguard profits, protect customers, and maintain operational stability, retailers must proactively address these challenges with modern solutions. Retail risk encompasses any potential threat that could disrupt a stores financial health, reputation, or daily operations. In 2024, the average cost of a data breach reached $4.88

Merchant Services 94

Merchant Services Payment Services Management Shrinkage 94

Retail TouchPoints

JUNE 24, 2024

The lawsuit, filed in 2017, alleged that Founder and then-CEO Kevin Plank knowingly or recklessly misrepresented facts regarding consumer demand for Under Armour’s products as well as the company’s financial and operating results, according to the Wall Street Journal. 16, 2015 and Nov. billion revolving credit facility.

Accounting 264

Accounting Payment Services Returns Planning 264

Retail TouchPoints

AUGUST 16, 2021

Walgreens has introduced the myWalgreens Credit Card program, while supermarket chain Giant Eagle will start accepting PayPal and Venmo in-store as retailers continue expanding their payment options. The move also can speed up payment processes via PayPal and Venmo QR codes.

Payment Services 264

Payment Services Checkout Supermarket Accounting 264

Retail TouchPoints

MARCH 18, 2025

These devices, like smart doorbells, thermostats, lighting and more, present an exciting opportunity for retailers, but understanding consumers motivations and proactively addressing potential concerns will be vital to make the most of this dynamic market. Craig Thole is SVP of Emerging Solutions, Global Connected Living, at Assurant, Inc.

Consumer 147

Consumer Marketing Telecommunications Technical Support 147

Retail TouchPoints

OCTOBER 26, 2022

Amazon will begin offering Venmo as a payment option on its website and app, rolling it out to select customers immediately and available to all U.S. Amazon shoppers will be able to add their Venmo account as a payment method for their Amazon account and even set it up as their default payment option.

Payment Services 246

Payment Services Accounting Checkout Management 246

Inside Retail

DECEMBER 7, 2021

Australia will create a licencing framework for cryptocurrency exchanges and consider launching a retail central bank digital currency as part of the biggest overhaul of its payments industry in a quarter of a century. “Australia must retain its sovereignty over our payment system.”

Payment Services 246

Payment Services Accounting Consumer Marketing 246

Retail TouchPoints

MARCH 31, 2023

And it’s increasingly clear that brands that embrace financial services within the customer journey are scoring highly on engagement scores. What’s more, the number of payment providers on the market has dramatically multiplied over the years, creating a vast and often confusing ecosystem. It’s reckoned that nearly 4.5

Payment Services 278

Payment Services Accounting Point of Sale Customer Experience 278

Retail TouchPoints

FEBRUARY 26, 2024

Consumers are quickly losing trust, and companies must act swiftly and responsibly to restore it. A Pew Research study reveals a concerning trend: 67% of consumers have little understanding of what companies do with their data, a sentiment echoed by an IAPP study which found that only 29% feel informed about how their data is protected.

Consumer 317

Consumer Payment Services Finance Management 317

Inside Retail

JANUARY 9, 2025

Once, borrowing money to make a purchase was a relatively tedious process, not a spur-of-the-moment thing. In recent years, though, the financial technology or fintech revolution in the customer credit market has changed all that, with the meteoric rise of buy-now-pay-later (BNPL) services. But does it also change our spending habits?

Merchant Services 264

Merchant Services Payment Services Consumer Checkout 264

Retail TouchPoints

DECEMBER 7, 2023

Sika Health — a payment solution that enables ecommerce merchants to accept Health Spending Account (HSA) and Flexible Spending Account (FSA) payments — has launched a new marketplace where consumers can shop directly for HSA- and FSA-eligible products.

Merchant Services 264

Merchant Services Payment Services Accounting Checkout 264

Inside Retail

FEBRUARY 4, 2025

The numbers currently used to identify cards will be replaced with tokenisation and biometric authentication In 2022, Mastercard added biometric options enabling payments to be made with a smile or wave of the hand. Credit card numbers and payment details are often exposed in major data breaches affecting large and small businesses.

Payment Services 162

Payment Services Telecommunications Accounting Checkout 162

Retail TouchPoints

APRIL 5, 2022

“Mobile technology is transforming payments, making it easier, safer and more affordable for people to move and manage their money than ever before,” said Dan Schulman, President and CEO of PayPal at the time of the spinoff. “As Consumers are now more digital, and they’ve gotten into these habits. Source: CivicScience.

Merchant Services 361

Merchant Services Payment Services Checkout Consumer 361

Retail TouchPoints

JANUARY 24, 2023

The digital wallet will be managed by Early Warning Services (EWS) , the company that operates Zelle, but will operate separately from Zelle. The other four owners in the EWS/Zelle venture include Capital One Financial , PNC Financial Services Group , U.S. By 2025, digital wallets are expected to account for 52.5%

Merchant Services 305

Merchant Services Payment Services Accounting Checkout 305

Inside Retail

OCTOBER 13, 2021

Options such as buy now, pay later (BNPL) services were first introduced to business to consumer (B2C) transactions, giving customers the ability to access products and services they need today while paying at a later date or over a series of instalments. . Transform your B2B transactions with better payment technology.

Payment Services 355

Payment Services Finance Customer Experience Wholesale 355

Retail TouchPoints

SEPTEMBER 6, 2023

So-called “negative option” services are a controversial yet time-tested method of doing business. Under this model, a customer signs up for a subscription service, typically as part of a free trial offer. The customer is then charged on an ongoing basis unless they explicitly cancel the service in question.

Merchant Services 284

Merchant Services Payment Services Consumer Customer Experience 284

Inside Retail

MARCH 25, 2025

Australian retailers remain vulnerable to the slowdown in consumer spending and rising living costs, say retail lobby groups, in a subdued response to the Federal Budget. Addressing unfair, excessive card surcharges, including preparations to ban debit card surcharges, which will deliver lower-cost payments.

Payment Services 130

Payment Services Accounting Consumer 130

Retail TouchPoints

AUGUST 22, 2023

The INFORM (Integrity, Notification, and Fairness in Online Retail Marketplaces) Consumers Act, which went into effect in late June 2023, marks a significant step forward in curbing online fraud by third-party sellers and organized theft from retail stores. But compliance can be complicated. Freeze non-compliant seller accounts.

Payment Services 246

Payment Services Accounting Shrinkage Consumer 246

Retail TouchPoints

APRIL 21, 2021

The pandemic accelerated not just ecommerce but also digital payment methods: digital wallets reached 29.3% The wallets are expected to unseat credit cards as the preferred online payment method in the coming years, according to the FIS Global Payments Report 2021. Digital wallet usage is expected to account for 40.5%

Merchant Services 299

Merchant Services Payment Services Checkout Accounting 299

Retail TouchPoints

APRIL 3, 2023

billion on pet food and treats, supplies, medicine, vet care and other services in 2022, and are predicted to spend $143.6 Myos Fetch is a full-service SMS “concierge” for all things related to the brand and its focused, yet growing, product line. More than 66% of U.S. million or so homes spent $136.8 billion in 2023.

Payment Services 261

Payment Services Accounting Planning Consumer 261

Retail TouchPoints

MAY 16, 2022

It’s clear this reverse layaway payment model is also here to stay. In BNPL, consumers receive the goods or services that they want to buy, but payment is staggered over monthly payments for a certain period of time with no interest. It’s not hard to understand the appeal.

Merchant Services 239

Merchant Services Payment Services Accounting Consumer 239

Inside Retail

OCTOBER 17, 2024

The campaign, which ran from January 2020 to August 2021, was for a 60-month interest-free and no-deposit payment method. According to the Australian Securities and Investments Commission (Asic), many consumers may have been unaware of the financial arrangements they entered when buying products at Harvey Norman stores.

Finance 306

Finance Payment Services Advertising Accounting 306

Retail TouchPoints

SEPTEMBER 17, 2022

The Consumer Financial Protection Bureau (CFPB) is planning to start regulating buy now, pay later (BNPL) products. Apparel and beauty companies accounted for 80.1% Buy Now, Pay Later is a rapidly growing type of loan that serves as a close substitute for credit cards,” said Rohit Chopra, Director of the CFPB in a statement.

Consumer 262

Consumer Payment Services Apparel Accounting 262