Walmart, Target, Amazon forgo returns processing

What to read today: AI in Insurance: Insider Intelligence assesses the business impact of forward-looking insurers implementing AI in their front, middle, and back offices, with real-world examples of each. The report then explores the key risks arising from AI use that insurers need to keep in mind. It also provides recommendations around how insurers can best approach the implementation of AI-powered digital transformation..

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January 16, 2021 Amazon, Target, and Walmart forgo returns processing and let consumers keep unwanted products in cost-saving push. Amazon, Target, Walmart, and other larger retailers are issuing refunds and letting customers keep some of the holiday purchases they intended to return. This move comes after a booming ecommerce holiday season: US ecommerce sales grew 32% year over year (YoY) to surpass $188.2 billion. US consumers are expected to return $101 billion worth of merchandise bought during the holiday season. And despite some initial losses, retailers will most likely benefit from issuing refunds to customers for unwanted and unreturned merchandise. Insider Intelligence's Adriana Nunez has the full story. BRIEFING HIGHLIGHTS Mastercard unveils its cloud-based contactless POS offering Mastercard introduced Cloud Tap on Phone, a cloud POS solution that lets businesses accept contactless payments via any Android mobile device. Read More → UK government fintech review looks to right Brexit wrongs A UK government review is set to propose measures to support the country's fintech sector and overcome Brexit-induced challenges. Read More → Revolut sees UK license as key to unlocking more deposits Revolut is betting that the license's deposit insurance will drive more customers to make Revolut their primary account. Read More → Amex faces regulatory scrutiny over its selling tactics Amex is under investigation by the US Treasury Department, Federal Deposit Insurance Corp., and the Federal Reserve due to card selling misconduct. Read More → Visa-Plaid merger ending magnifies need for US open banking regulation The DOJ's antitrust lawsuit against the Visa-Plaid merger spurred Visa's decision, highlighting the need for government-led data sharing standards. Read More → Walmart's new fintech will have a Superstore marketing platform Walmart is working with Ribbit Capital to create a fintech startup to expand its affordable financial services offerings for employees and customers. Read More → Simple's shutdown is good news for other US neobanks Simple users will be transitioned to the BBVA USA app, and those who search for a continued challenger bank will be prime targets for other neobanks. Read More → Jack Henry improves Paycheck Protection Program service Jack Henry has enhanced its PPP lending solution following the US government's launch of a third round. Read More → Synchrony and Walgreens are partnering on card portfolio Synchrony Financial and Walgreens are launching a card portfolio that may reinvigorate the issuer's business by tapping into the retail sector. Read More → Goldman's Marqeta team-up gets it closer to better digital checking Goldman announced that it will work with Marqeta on building its Marcus checking account offering, expected to debut later this year. Read More → RESEARCH IN FOCUS AI in Insurance Insider Intelligence assesses the business impact of forward-looking insurers implementing AI in their front, middle, and back offices, with real-world examples of each. The report then explores the key risks arising from AI use that insurers need to keep in mind. It also provides recommendations around how insurers can best approach the implementation of AI-powered digital transformation. Get the full report → Digital-Only Bank Account Holders Forecast Insider Intelligence explores the key international factors we expect to affect digital-only bank account holder growth across all three countries between now and 2024, both those we expect to drive up growth and those that we think may pose growth risks. Get the full report → The Buy Now, Pay Later Report Insider Intelligence will examine what factors have made BNPL providers increasingly popular with consumers and merchants, both before and during the pandemic. The report then details the threat BNPL solutions pose to payments incumbents, including card networks and issuers, and what such firms can do to avoid disintermediation. Get the full report → BECOME A SUBSCRIBER Did you know the Daily is just a preview of everything Business Insider Intelligence has to offer? Our Briefing subscriptions deliver analysis on the biggest trends and decisions shaping the future of a specific industry. Stay on top and subscribe today to receive: A cornerstone industry report Daily Morning newsletters Opportunities to join the conversation Get Started Today → FOLLOW US Email sent to: nguyenvu1187.love5@blogger.com Manage your email preferences  |  Unsubscribe  |  Terms of Service  |  Privacy Policy © 2021 Insider Inc. 1 Liberty Plaza, New York, NY 10006