In as we speak’s prime information, Stripe will provide monetary companies to retailers on its platform, Affirm acquired BNPL agency PayBright, and J.P. Morgan analysts predict merger and acquisition offers to proceed to surge by way of the vacation season.
Stripe to Offer Banking as a Service to Merchants on Its Platform
Stripe announced Stripe Treasury on Thursday (Dec. 4), a new service that will offer debit cards, bank accounts and other financial services to online merchants and vendors using Stripe’s payment processing platform. The venture will work with Citigroup, Goldman Sachs, Barclays and other financial institutions (FIs).
Affirm Expands Canadian Presence With $264 Million PayBright Buy
Buy now, pay later (BNPL) payments startup Affirm announced its acquisition of Canada’s installment payments firm PayBright. The acquisition will help Affirm expand its network of merchants in both Canada and the United States.
JPMorgan: Year-End Deal-Making Surge Will Keep Bankers Busy
The year-end acceleration of mergers and acquisitions worldwide will keep bankers busy until the close of 2020, with deals emerging in most regions and industries, Bloomberg reported. Since July, global transactions hit valuations of $1.8 trillion, up more than one-third.
Census Data: A Third of Americans Expect Job Losses, Less Pay
About a third of Americans are anticipating further job loss, pay cuts and foreclosures or evictions due to COVID-19’s economic fallout, according to the third phase of the Census Bureau’s Household Pulse Survey.
DATA: Digital-First Consumers Want the COVID-19 Vaccine, But It Won’t Change Their Digital-First Habits
Consumers who have embraced digital-first lifestyles are more likely to get vaccinated for COVID-19, but 79 percent of these consumers are less likely to return to their pre-pandemic ways of shopping and paying. In the latest installment of the Pandenomics series, PYMNTS surveys 2,806 U.S. consumers to examine how their perceptions around the COVID-19 vaccine relate to their adoption of digital-first habits.
Sticky.io CEO: Walmart+ About Attracting, Building Strong Relationships With New Customers
This year’s digital-first holiday shopping season should be “tremendous” for both subscription programs like Walmart+ and subscriptions as gifts, sticky.io CEO Brian Bogosian tells Karen Webster. He says that done right, subscriptions open up a whole new set of opportunities for merchants to retain and upsell consumers.
DATA: Millennials, Gen X Liked BNPL for Black Friday Clothing Purchases
Apparel was on the holiday shopping list on Black Friday, and so was buy now, pay later for making those purchases. New PYMNTS data finds that millennials and Gen Xers were most interested in using BNPL to make those purchases.
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NEW PYMNTS CONSUMER STUDY: HOW LOCATION DATA CAN HELP BANKS PREVENT ONLINE FRAUD
About: The November 2020 study How Location Data Can Help Banks Prevent Online Fraud, a PYMNTS and GeoGuard collaboration, surveyed a census-balanced panel of 2,141 U.S. consumers who own mobile devices and use credit or debit cards at least monthly. The study examined their willingness to share mobile location data with FIs to keep their accounts safe as well as their interest in switching to banks that leverage geolocation tools to prevent fraud.
