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Crypto Payments Adoption in FinTech: How Do Retailers Fit in?

Retail TouchPoints

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.

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Optus backpays over $7.8 million to underpaid employees

Inside Retail

In April 2021, the telecommunications company self-reported the underpayments to the Fair Work Ombudsman following an internal review. The company has already completed the back payment to a majority of the employees. Meanwhile, Optus also signed an enforceable undertaking with the Fair Work Ombudsman that includes contrition payments.

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Buy Now, Pay Later: Does it Work for your Online Retail Business?

Retail TouchPoints

consumers have now used a buy now pay later (BNPL) service. . Businesses looking for ways to gain a competitive edge over their competitors have been pushing service advantages into new areas, including alternative payment models. Using BNPL, approved customers can defer payments at checkout — both online and in-store.

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Revolutionizing Customer Retention: The Rise of Digital Top-Up Cards in the Global Market

Retail TouchPoints

As consumers demand more flexible payment options, it is no surprise that the digital top-up card industry has had a strong year. The trend is set to continue, and it is not just shoppers who benefit from increasingly digital-first payments. This means the demand for flexible payment solutions has surged.

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Latitude Group says customer information stolen in cyber attack

Inside Retail

Australian digital payments and lending firm Latitude Group Holdings Ltd said on Thursday that a hacker had stolen personal information held by two service providers through employee login credentials. Latitude said it had detected unusual activity on its systems over the last few days.

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Woolworths says MyDeal data breach impacted 2.2 million customers

Inside Retail

Woolworths said it does not store payment details, driver’s licence or passport details and no customer account passwords or payment details have been compromised. . million customers, only email addresses were accessed. . Woolworths Group owns 80 per cent of MyDeal, an online marketplace.

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New 2021 VAT Rules Will Simplify Filing, but Complicate Calculation

Retail TouchPoints

Called the “low value consignment stock relief,” the threshold was intended to reduce the administrative burden in customs compliance. The new rules broadly extend a 2015 VAT adjustment for certain sales of digital, telecommunications and broadcast services to include ecommerce goods.