Digital Payments Are Transforming the Face of Grocery

BIG retailers are set to start closing stores on January 31 and consumers might be at risk of losing their favorite local store. This will include stores from some well-known chains including CVS and Walgreens. Others will include big grocery stores. Here are the planned store closures that will start...

As grocers invest in their omnichannel offerings, PYMNTS research shows data analytics are a priority. Grocers are looking to unify their capabilities across digital and in-store experiences, and to do this, they need a clear picture of how shoppers behave across different channels. Take, for instance, Walmart, the world’s largest...

As consumers shift to making smaller, more frequent food purchases, grocers are adjusting accordingly. Specifically, several grocery brands have been turning to convenience retail and other smaller-format models to meet consumers’ last-minute needs without the costs associated with running a full-on supermarket. Most recently, grocery retailer and food distributor SpartanNash made an announcement Monday (Jan. 30) that spotlights a new focus on the convenience store space.

Grocers can leverage digital to drive engagement even with grocery customers shopping in stores. In fact, many brick-and-mortar-only customers are turning to digital technologies to improve their shopping experiences, as Barbara Connors, vice president of commercial insights at 84.51°, the marketing insights subsidiary of grocery giant Kroger, observed in an interview with PYMNTS.

For the second year in a row, the UAE has topped PYMNTS’ Global Digital Shopping Index. The findings of the 2023 Global Digital Shopping Index, a PYMNTS and Cybersource collaboration, show that consumers in the United Arab Emirates (UAE) — compared to those in the U.S., U.K., Brazil, Mexico and India — experienced the least friction when shopping and paying for grocery and retail products.

Inflation has reduced the value of social security benefits to recipients. But there will be further cuts in the long run. Experts say the increasing needs of seniors are burdening small benefit reserves. Americans are living longer because of lower lifestyle risks. Life expectancy was 47 years in 1900 and it was 76 in 2021.

The global oil market remains tight according to Saudi Aramco, the largest oil producer in the world. And that does not bode well for a world that still relies heavily on fossil fuels. Disclaimer: We adhere to strict standards of editorial integrity to help you make decisions with confidence. All...

TransUnion has invested in British open banking and data intelligence firm Bud Financial Limited. The global information and insights company said in a Tuesday (Jan. 31) press release that this partnership will drive innovation in the personal finance market and greater financial inclusion among consumers. “This strategic investment marks the...

The London-based tech subscription startup Raylo has secured a £110 million ($135.64 million) loan. As reported by tech funding news on Tuesday (Jan. 31), the debt facility is provided by NatWest bank and Quilam Capital. According to the article, Raylo will use the funds to fuel its growth and expand its product portfolio.

P97 Networks has teamed with Visa to expand its mobile payment offerings for convenience stores. “This collaboration will help reduce friction with in-car payments, enable EV charging payments across public networks, and further accelerate mobile payment innovation and acceptance,” the companies said in a news release Tuesday (Jan. 31).

The accounts receivable function is broken. The paper-based processes that have been AR hallmarks have been inefficient at best and punitive to cash flow management at worst. The great digital shift was supposed to fix all that, but this has not been the case — mainly because that shift has not been uniform across the globe.

After years of consolidation, Europe’s largest open banking players now cover much of the continent. Over the years, the continent’s open banking companies have expanded their reach and entered new markets by snapping up smaller rivals. At the same time, established payment players have acquired open banking providers rather than building their own technical capabilities from scratch.

Small- to medium-sized businesses have been hobbled on a global stage. The lure of eCommerce is that digital channels level the playing field for…well, just about anyone. Theoretically at least, smaller firms should be able to compete with even the largest of eCommerce juggernauts if they have the right products and services, the payment methods most preferred by customers, and the back-office functions to handle it all.

123Loadboard has added carrier identity verification to its freight matching platform. This new feature streamlines and accelerates digital freight booking by enabling brokers and shippers to immediately determine if a carrier is a verified, legitimate business partner, 123Loadboard said in a Tuesday (Jan. 31) press release. “Our focus has always...

Card issuer Marqeta will acquire card management platform Power Finance in a $275 million deal. “We already see considerable demand for differentiated credit products from companies looking to innovate in this space who are held back by the constraints of legacy technology,” Simon Khalaf, Marqeta’s incoming CEO, said in a Monday (Jan. 30) news release.

American Express has launched a digital cash flow management hub for small businesses. The new Business Blueprint provides one place small businesses can go to get cash flow insights, access digital financial products and manage their Business Cards, American Express said in a Tuesday (Jan. 31) press release. “Business Blueprint...

Among banks and FinTechs, there’s recognition of the value inherent in receipt data. That granular detail can help forward-thinking firms craft and offer more customized services and products to their customers. The report “Meeting the Need for Item-Level Receipt Data: How Integration Enables Innovation,” a PYMNTS and Banyan collaboration,...

One of the worst-kept secrets in payments was finally confirmed last week. That’s when Early Warning Services (EWS) announced its plans to launch a digital bank wallet in the second half of 2023 to challenge PayPal and named a former Mastercard exec as the CEO to lead the initiative. EWS is the digital payments platform owned by Bank of America, Capital One, J.P. Morgan, PNC, Truist, U.S. Bank and Wells Fargo. EWS operates the Zelle P2P network.

Device shipments will decline this year as cash-strapped consumers postpone smartphone and computer purchases. That’s according to a forecast released Tuesday (Jan. 31) by research firm Gartner, which projects sales of phones and PCs will fall for the second straight year. It’s a decline that’s happening as consumers reprioritize their spending as their buying power is reduced.

FourKites and Cargonerds have partnered to help freight forwarders and shippers track global shipments in real time. The new collaboration adds FourKites’ real-time supply chain visibility capabilities to Cargonerds’ digital freight platform for quoting, booking, tracking and reporting, the companies said in a Monday (Jan. 30) press release.