PYMNTS

DECEMBER 28, 2020

The dreaded returns season has hit retail with a predictable but painful thud. In fact, forward-thinking retailers are looking at the return process as a chance to create a positive customer experience. In fact, forward-thinking retailers are looking at the return process as a chance to create a positive customer experience.

Returns 86

Returns Audit Best Practices Consumer 86

PYMNTS

JANUARY 11, 2021

While early to mid-January is always the return season, this year has long been forecast to be a spot more active than its predecessors given the volume of gifts bought online during the 2020 holiday rush. It’s an extreme solution but one the unique conditions of 2020 have created. Everyone Makes Mistakes — Why Returns Surged.

Returns 69

Returns Consumer Volume Process 69

PYMNTS

DECEMBER 16, 2020

The COVID-19 pandemic has been hard on everyone – consumers, businesses, government officials and healthcare workers – but the pain has been far from evenly distributed over the past nine months. Small and medium-sized businesses (SMBs) have unfortunately found themselves at or near the top of COVID-19’s 2020 hit list.

On-Demand 112

On-Demand Shutdown Returns Economy 112

PYMNTS

NOVEMBER 3, 2020

But the running theme through all of the frustration that 2020 has created is uncertainty and the feeling that one never quite knows what’s going to happen next. consumers across demographics and geographies for months about how their lives have changed (or not) since the pandemic began. Here are nine key takeaways from our surveys: 9.

Consumer 136

Consumer Posting Volume PayPal 136

PYMNTS

JANUARY 11, 2021

Many merchants were struggling to stay afloat since March 2020 when the pandemic began and welcomed any boost that holiday sales could provide. The risk of returns is especially high considering that the recent holiday shopping season was the most digital shopping season on record. PYMNTS surveyed a census-balanced panel of 2,268 U.S.

Returns 66

Returns Risk Mitigation Consumer 66

PYMNTS

OCTOBER 23, 2020

As it turns out, kids locked down and attending virtual school from their bedrooms are looking for ways to fill their time — which in turn has led to a return to toy buying among parents. It is a return, because for the last several years toys sales have been slumping. Barbie gross sales rose 29 percent in Q3, to $532.2

On-Demand 86

On-Demand Returns Consumer 86

PYMNTS

MAY 5, 2020

In the best of times, returns are the bane of eCommerce existence. In these worst of times, they’re even more complicated as return policies are all over the map due to the COVID-19 crisis and consumers who have amped up their eCommerce spending. And there will be a shift to seeing returns as a responsive, customer service tool.

Returns 74

Returns CRM Volume Authorization 74

PYMNTS

SEPTEMBER 21, 2020

But there’s a bigger concern in the figures PYMNTS just released — a fairly big disconnect between Main Street SMB owners and consumers about just how long the pandemic period is going to last. Consumers at the start of COVID-19 were estimating a shorter downturn than SMB owners expected — just 145 days. In fact, 39.3

Consumer 111

Consumer Shutdown Risk Economy 111

PYMNTS

OCTOBER 5, 2020

Americans consume roughly 13 billion quarts of popcorn every year, roughly 30 percent of that at the movies. Well, that was back when theatres were open, before COVID, and going to the movies was a regular part of a consumer’s routine. consumers, as well as the behavior of a sample of Main Street business owners. 10 and Sept.

Consumer 122

Consumer Volume Continuity Returns 122

PYMNTS

SEPTEMBER 29, 2020

Consumer spending has been on something of a roller-coaster ride in 2020 thus far – dropping into the basement in the spring, but showing signs of recovery over the summer. But now summer is over, and consumer spending is looking a whole lot hazier heading into the traditional holiday shopping season.

Consumer 95

Consumer Governance Government Economy 95

PYMNTS

OCTOBER 15, 2020

The average United States consumer believes the pandemic will not come to an end until Sept. That is 339 days from now, and 557 days after the pandemic was first declared on March 11, 2020. consumers have gone from retail shopping in stores to shopping online since the pandemic began, while 16.6 PYMNTS research shows that 41.9

Consumer 85

Consumer Returns Continuity Research 85

PYMNTS

SEPTEMBER 22, 2020

If the man initiated a return, he was on the hook for a 20 percent restocking fee. In his mind, he wasn't trying to steal the couch; he was trying to return it without incurring the restocking fee,” he said. It’s a way for a merchant to protect themselves against bad behavior by the consumer,” he said. Now, is that bad behavior?

EMV 86

EMV Issuers CHIPS Card Issuer 86

PYMNTS

JULY 8, 2020

For the digital consumer — for the U.S. Much longer than the 12 weeks it took to mint the digital-first consumer in the first place. percent of consumers told us they were traveling for personal reasons less often than they had before the outbreak. consumers reported having jobs or earning incomes. percent of U.S.

Consumer 61

Consumer Federal Reserve Cross-Border Fed 61

PYMNTS

DECEMBER 30, 2020

Department stores are struggling in a digital-first economy, while forward-thinking retailers are looking at the returns process as an opportunity to create a positive customer experience. 97% : Share of consumers who will buy from a retailer again after having a positive returns experience.

RTP 104

RTP Returns Real Time Payments Instant Payments 104

PYMNTS

JULY 30, 2020

Disintermediating powerful national retail pharmacy chains with a direct-to-consumer (DTC) play on prescriptions is Breese’s obsession, intensified by the extraordinary events of 2020. Put another way, consumer experience (CX) is the ultimate arbiter.

Consumer 110

Consumer Automation Risk Returns 110

PYMNTS

DECEMBER 8, 2020

Because while four or five years ago millennials looked like a generation holding back from homeownership, either due to preference or financial constraint, as 2020 comes to a close the situation has changed markedly. These younger consumers are mostly buying first homes (86 percent of younger millennials and 52 percent older ones).

Economy 141

Economy Returns Consumer On-Demand 141

PYMNTS

SEPTEMBER 28, 2020

Many have concerns about things like being taken advantage of by the legions of fraudsters who’ve followed consumers on their new digital journeys. I think the consumers are looking for opportunities to support small businesses during this holiday season,” Burgin said. Strengthening The Digital Offering.

Small Business 94

Small Business Contactless Payments Economy Mitigation 94

PYMNTS

MAY 6, 2020

But it will take a mindset shift on the part of merchants and consumers — and a return of foot traffic to the stores, of course. As Platko said, the data show that consumers are willing to try something different when it comes to payments, chiefly to avoid touching things. As Webster noted, consumers like their cards.

Consumer 87

Consumer Contactless Payments Push-to-Card Payment Networks 87

PYMNTS

MAY 25, 2020

The balance of 2020 will be notable for what Amazon does not do. If Amazon sees any M&A deals this year, it will likely be on the infrastructure side: shipping, return platforms and payment mechanisms. Nike will end 2020 as a consistent retail force, commanding respect for more than the shoes. The Digital Shift.

Shutdown 64

Shutdown Returns On-Demand Governance 64

PYMNTS

NOVEMBER 5, 2020

He was the first in a long time of innovators who realized that taking out the middleman and selling direct to consumer (D2C) allowed him to undercut stores on price. They’re still part of the market, particularly the holiday shopping market in 2020. Amazon is this year rolling out its big book of toys for 2020. So is Target.

Returns 68

Returns On-Demand Consumer Innovation 68

Finovate

OCTOBER 29, 2024

Array , an embedded consumer products platform, has agreed to acquire embedded debt guidance solutions provider Payitoff. ” Founded in 2020, Array offers a range of embeddable private label products that enable businesses to serve as “one-stop shops” for financial services. Terms of the transaction were not disclosed.

Acquirers 105

Acquirers Consumer Payment APIs and Integration Privacy 105

PYMNTS

DECEMBER 30, 2020

But the style changes on display in 2020 are quite a bit different than previous years. Consumers are staying at home and as a result paying a lot less attention to their personal style. In 2020, according to the report, the industry’s economic profit will fall by 93 percent. Changing styles in fashion are nothing new.

Consumer 113

Consumer Adjustments Returns Continuity 113

PYMNTS

JANUARY 20, 2021

PYMNTS has been surveying consumers since the pandemic’s earliest days. We’ve learned that consumers have hit the reset button in the 10 or so months — in terms of what they do, what they expect and who they plan to be when “normal life” can resume again. Consumers have gone from “no big deal” to 'in it for the long haul.'.

Consumer 71

Consumer Returns Continuity Research 71

PYMNTS

APRIL 21, 2020

The coronavirus pandemic winds on, and while it seems like it’s been forever, when — and not if — we emerge from all this, consumer spending will be altered. percent year over year as measured by PSCU for the 13th week of the year (week of March 23, 2020, compared to week of March 25, 2019). Overall credit card spend was down 29.9

Consumer 67

Consumer Credit Union Credit Cards Debit Card 67

PYMNTS

DECEMBER 10, 2020

And in banking, financial institutions can incorporate artificial intelligence into their consumer credit strategies at a time when a retroactive approach to credit risk management has become less feasible amid COVID-19. 80%: Share of banking interactions done online in 2020. 80%: Share of banking interactions done online in 2020.

Credit Risk 102

Credit Risk Risk Management AI On-Demand 102

PYMNTS

DECEMBER 14, 2020

But there’s another way to describe 2020 these days: “almost over,” as there are only 17 days left before 2021 gets off and running. When COVID-19 is gone six months or a year from now, what will consumers be like? The past eight months of data that PYMNTS has collected from consumers tell a pretty clear story on that point.

Consumer 103

Consumer Returns Product Authorization 103

PYMNTS

AUGUST 21, 2020

Because of restrictions imposed by Apple, Epic is unable to provide consumers with certain features in our iOS apps,” Sweeney wrote in the email. Epic seeks a restraining order that would return Fortnite to the App Store. A hearing on that order is scheduled for Monday (Aug 24) in the Northern District of California.

Legal 71

Legal Returns Rules Payments 71

PYMNTS

DECEMBER 31, 2020

Foot traffic typically skyrockets in stores during the holiday shopping season, with consumers drifting in and out of brick-and-mortar shops as they hunt for gifts. The global health crisis prompted many consumers to alter their holiday habits this year, including where they shopped, what they bought and how they paid.

BNPL 67

BNPL Adjustments Consumer Assessments 67

PYMNTS

JANUARY 7, 2021

The new year is here, and the grocery business gets to finally close the book on a difficult and complicated 2020. is for consumers to feel safe and comfortable inside stores. But while the year may be over, the pandemic that defined it will be an issue for the foreseeable future. The goal in Asia, as in the U.S.,

Contactless Payments 81

Contactless Payments Payroll Adjustments Consulting 81

PYMNTS

JULY 29, 2020

Visa managed to come out ahead of analyst expectations for both revenue and earnings when it reported its Q2 results yesterday (July 29), but the world’s largest card network found itself hit hard by plummeting consumer spending in the second quarter. For the quarter that ended June 30, Visa reported net income of $2.4 billion, or $1.07

Consumer 68

Consumer Cross-Border Cross-Border Payments Volume 68

PYMNTS

MAY 4, 2020

At the same time, consumers are doing their own cost/benefit calculations about when it’s safe to re-enter and resume their daily activities. Consumers’ interest in going out: Share of consumers who say they are interested in leaving their homes more often than they do today. Most aren’t in much of a rush.

Economy 83

Economy Consumer Risk Returns 83

PYMNTS

MAY 14, 2020

Consumers may not have returned to their pre-crisis shopping behaviors, but they are setting records for drinking wine. The latest to report, Wine.com – which bills itself as the nation’s leading online wine retailer – earned $165 million in revenue and saw 25 percent growth for fiscal 2020, ending March 31. With sales of $3.2

Consumer 65

Consumer Returns Continuity Technology 65

PYMNTS

JANUARY 1, 2021

We can’t put a final lid on the year 2020 without addressing the big issues, such as how we changed, what we learned, what’s coming back and what will never be the same. PYMNTS TV spent the whole of 2020 talking to the experts on the ground in real time about the key issues driving the payments and commerce business.

B2B 103

B2B Push-to-Card Online and Mobile Banking Returns 103

PYMNTS

DECEMBER 27, 2020

Sales of PCs, defined as computers with keyboards, stormed back in 2020, Reuters reported. The company has resorted to flying PCs to consumers at its own cost, rather than relying on shipping via sea or rail, which can take a month longer. Credit the sudden need for remote-work and -study options as COVID-19 took hold. told Reuters.

Processors 112

Processors On-Demand Returns Governance 112

PYMNTS

JUNE 23, 2020

The Big Style Sale was created as something of an event filler and something of a way to juice consumer spending. First and foremost, consumer[s] are facing an economic downtown and won’t be in the mood for a lavish buying spree in July (when the usual Amazon Prime Day date happens).

Consumer 64

Consumer On-Demand Origination Returns 64

PYMNTS

OCTOBER 20, 2020

Until recently there was “a consumer” who industry felt it understood, and whose tastes it knew well enough to gauge the market of new products and services. Business roadmaps predating 2020 aren’t much use these days, however, as COVID has altered the terrain. Connected Commerce Calling The Shots.

Consumer 88

Consumer Shutdown Returns Economy 88

PYMNTS

DECEMBER 31, 2020

While that’s just a small example at a regional grocery chain, it does point to the fact that the world of eating might never quite be the same because consumer tastes have migrated fairly dramatically. We all still like pizza and wings, but as a group, consumers are considering where they’ll order them from quite a bit more widely.

Returns 94

Returns Consumer On-Demand PayPal 94