PayPal has added seven new retailers to its roster of US partners to test its in-store payments service (Reports StrategyEye). Shoppers can now use their PayPal credit card or a PIN code to pay for items in-store, as the firm looks to make greater headway among bricks-and-mortar retailers. The firm is also test-driving a new order-and-pickup feature at new partner Jamba Juice, where customers can pre-order a drink via their mobile devices, pay using their PayPal account and then skip the queue to collect their juice on arrival.
New partners include Famous Footwear, Dollar General, Mapco Express, RadioShack, Spartan Stores and two undisclosed retailers. The firm already boasts a number of US merchants among its partners, including Toys ‘R’ Us and Barnes & Noble.
The Second Payment Services Directive (PSD2) is a payments regulation in Europe, which is set to drastically impact the infrastructure for banks, fintechs and businesses using payments data by opening up access to third party providers.
For e-commerce marketplaces, user experience has long been a prime focus. From aesthetic quality to ease of use, UX plays a major role in determining whether consumers stick with the platform long-term or abandon it in favor of a competitor.
The failure to keep pace with expanding compliance procedures has seen a rise in the number of financial penalties issued by regulators over the past few years. As anti-money laundering (AML), know-your-customer (KYC), counter-terrorism financing and other compliance obligations expand across different territories, organisations large and small have struggled to maintain adequate and comprehensive safeguards – often resulting in sizable fines and significant reputational damage.
A new report published by Earnix shows findings stating that most millennials will use a single portal to aggregate services from multiple banks with which they have existing customer relationships in the future. The report, The Role of Analytics in the New Banking Age 2017, also states that most banks believe predictive analytics and machine learning will become the most powerful way to win back customers over the next five years.