3 Food Trends That’ll Never Be the Same
PYMNTS
by PYMNTS
5M ago
You could call it the rise of the super-duper market, but however you choose to frame it, the proposed tie-up between Kroger and Albertsons is poised to rock the grocery category in ways never seen before. Even if the deal were to fall apart for some reason, like say antitrust concerns or a competing bid from an outsider, the specter of creating a food footprint with 5,000 stores, 4,000 pharmacies and 2,000 gas stations is, well, rather super-duper and apt to trigger a flurry of comparative analysis and other “what-if” scenarios. Nowhere is this change more impactful than with the reigning i ..read more
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Metaverse VP Sharma to Head Stripe’s Revenue and Financial Management
PYMNTS
by PYMNTS
5M ago
A vice president of Meta’s virtual reality (VR) social platform Horizon Worlds is now over at Stripe working with a new product team. Vivek Sharma started as Stripe’s new head of revenue and financial management this week and is collaborating with a new team developing products aimed at helping businesses manage, track and analyze their revenue, according to his LinkedIn post on Friday (Oct. 14). “There’s been huge creativity in online business models over the last decade. Retailers are becoming marketplaces and platforms, marketplaces are becoming retailers, fintech and the creator economy a ..read more
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Bank Earnings Show Consumers' Increased Use of Digital Channels
PYMNTS
by PYMNTS
5M ago
Earnings season has just gotten underway. And amid the slew of bank reports on Friday (Oct. 14) – the trinity of JPMorgan, Citigroup and Wells Fargo — a few data points show unabated trends among the questions and the commentary on consumer spending. A highlight: The continued move towards doing all manner of banking online. Commentary on the earnings calls, at least thus far, has been somewhat general. Each of the CEOs from these banks stated that technology investments still are on the roadmap. It is in the earnings supplementals that we can see that the headcount of digitally active consum ..read more
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7 in 10 Independent Restaurants Do Not Offer Mobile Order-Ahead
PYMNTS
by PYMNTS
5M ago
When it comes to meeting consumers’ demand for digital convenience, independent restaurants are lagging behind their chain counterparts. Be it loyalty rewards or online ordering channels, independents are far less digitally connected. By the Numbers Research from the June edition of PYMNTS’ Digital Divide study, The Digital Divide: Technology, Customer Service And Innovation In The Restaurant Industry, which draws from a survey of nearly 2,500 U.S. consumers, finds that 56% of chain restaurants offer mobile order-ahead options. In contrast, only 31% of independents do the same. Similarly, 63 ..read more
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Still Aiming to Deliver IPO, Instacart Reduces Internal Value to $13B
PYMNTS
by PYMNTS
5M ago
Same-day food delivery startup Instacart reportedly cut its internal valuation for the third time this year as it continues to advance plans for an initial public offering (IPO) amid falling prices and market volatility. The reduction represents a two-thirds drop from its $39 billion value in 2021, The Information reported on Friday (Oct. 14), citing unnamed sources with inside information. The lower internal valuation reduces the price of new stock-based compensation issued to employees. Read more: Instacart’s Path to IPO: 5 Key Moments Because the majority of Instacart’s publ ..read more
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Amex: Perks Boost Diner Frequency
PYMNTS
by PYMNTS
5M ago
Multinational financial services company American Express held its Member Week event, which ended Friday (Oct. 14). The promotions offered $25 statement credits for purchases of $75 or more from a list of more than 200 restaurants through the company’s restaurant reservation subsidiary Resy. In recent years, the financial services company has been rolling out a range of dining-centric initiatives, with perks and limited time offers (LTOs) to drive restaurant sales. It would appear these moves have been successful, with American Express cardholders proving markedly more likely to dine out than ..read more
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Today in the Connected Economy: Apple Fires Back at Meta in Metaverse Headset War
PYMNTS.com | Payments and Financial Technology News
by PYMNTS
5M ago
Today in the connected economy, Apple plans to launch a mixed-reality headset that would rival Meta’s, plus Kroger and Albertsons merge. Report: Apple Mixed Reality Headset May Include Iris Scanning Apple could debut a mixed-reality headset with an iris scanner for payments and logging in as soon as next year, part of the company’s battle with Meta for metaverse dominance. This biometric feature would offer users fast access to their accounts and let multiple people wear the same headset for simple switching between accounts. Kroger-Albertsons Merger Creates Pickup and Delivery Powerhouse Ame ..read more
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B2B eCommerce Firm Papmall Debuts Cross-Border Freelance Payments
PYMNTS.com | Payments and Financial Technology News
by PYMNTS
5M ago
B2B eCommerce platform papmall has upgraded its services to allow businesses to send cross-border payments to freelancers. “Freelancers may become frustrated and leave the current platform if they experience frequent payment abandonment,” the Los Angeles company said in a news release Friday (Oct. 14). “papmall tends to address that primary pain point by catching that issue and contributing to the future of the payment industry.” The updated platform will accept international payments as all major debit and credit cards supported by processors that include Visa, Mastercard, American Express ..read more
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Today in B2B Payments: Firms Gain Funding for Business Banking, Money Movement
PYMNTS.com | Payments and Financial Technology News
by PYMNTS
5M ago
Today in B2B payments, NorthOne raises $67 million to expand its business banking and financial management platform, while Astra nets $10 million to deliver its faster money movement capabilities to more customers. Plus, Shoplazza and PayerMax partner to provide merchants with collection solutions. NorthOne Raises $67M Series B Toward Business Banking Platform FinTech NorthOne has raised $67 million in Series B funding to go toward expanding its business banking and financial management platform. NorthOne — which was founded to work with various types of Main Street businesses that have been ..read more
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Deliveroo Adds BNPL as Food Delivery Expands Internationally
PYMNTS.com | Payments and Financial Technology News
by PYMNTS
5M ago
U.K.-based food delivery service Deliveroo is asking the question, “Do consumers want to pay for their burritos in multiple installments?” The company is now offering buy now, pay later (BNPL) via Klarna, the Mirror reported Tuesday (Oct. 11). Consumers are given the option to pay immediately, to pay the full amount within 30 days or, for orders of at least 30 pounds, to pay in three installments over 60 days. “Millions of people are already choosing Klarna and we’re giving customers more choice and more flexibility with a safe, secure way to pay online,” Carlo Mocci, chief business officer a ..read more
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