It was a busy week in the payments industry! From a startup launching a card consolidating app, to a major company acquisition and even an Gen Z study, there’s a lot to cover this week!
1. Startup Launches To Combine All Of Your Credit And Debit Cards Into One Digital Card
If keeping multiple debit and credit cards on hand is a cause of stress or worry for you, then this startup might have just what you need. A California fintech company is launching a debit Mastercard that can enable consumers to consolidate as many as 24 credit and debit cards into a single account called Binji! To learn more about Binji and if it will be able to help you, make sure to check out this article.
2. Global Payments to buy TSYS for $21.5 billion in latest fintech deal
This week Global Payments announced that they would be buying their peer Total System Services Inc (TSYS) for about $21.5 billion dollars in stock. This deal is the third major acquisition in the payments technology space this year, as more major companies look to add more services and solutions into their catalogue of offerings. To learn more about this deal, and the others that have already taken place this year, don’t miss this article.
3. Majority of Gen Z prefer to shop in-person over online: study
Move over millennial news, we have a new generation to cover this week! According to a new study that used data sourced from American Express, only 32 per cent of Gen Z shoppers prefer to shop online. This leaves 65 per cent of shoppers who prefer to shop at physical stores, and a 3 per cent of shoppers without a concrete answer. Unsurprisingly, nearly 100 per cent of Gen Z say they are present on social media, which leaves retailers with opportunities to take more advantage of social media marketing tactics.
4. Walmart Canada Unveils New, State-of-the-Art, "Urban Supercentre Concept"
This week Walmart Canada unveiled its new “Urban Supercentre Concept” in Toronto, which brings fast lane checkout technology, and a fully integrated experience with the My Walmart App. In these Urban Supercentre Concept stores, shoppers can expect a fast shopping experience that allows them to scan items within the My Walmart App, download digital coupons for use, and use a “Fast Lane” checkout line to pay quickly.
If you’re curious about what else has been making the headlines in the payment industry, make sure to check out our recaps from May 20 to 24 and May 13 to 17.
The information in this article is provided solely for informational purposes and is not intended to be legal, business or other professional advice or an endorsement of any of the websites or services listed.