PYMNTS AM Radar: Points to Bucks; Inflation Cancellation; The Great Fizzling; Branches Go Digital; ICYMI

It’s Tuesday, May 10 and the S&P 500 — founded 67 years ago this month — is down 17% since January, Nasdaq is down 20% YTD and crypto is continuing to crash, with bitcoin down 50% from its high. Gas has hit a record-high national average of $4.37 per gallon, mortgage rates are soaring and fast-paced inflation hovers near record highs. Here’s what else should be on your radar this morning.

Points to Bucks. The Mastercard Gamer Xchange (MGX) is a first-of-its-kind solution that combines rewards with gaming. Using API integration, MGX enables loyalty points to be converted to gaming money on more than 4,000 of the most popular game titles. The new solution is being piloted first in the Asia Pacific region, home to 54% of the world’s gaming community. READ MORE

Inflation Cancellation. While 81% of consumers were using at least one subscription service in 2021, record-high inflation is taking its toll and chipping away at the numbers, according to the latest Subscription Commerce Conversion Index, a PYMNTS and sticky.io collaboration. The report shows how the forces of the economy are changing subscription preferences and how subscriber loyalty is affected by user experience. READ MORE

The Great Fizzling. Stocks, bonds, and crypto are all getting crushed. The PYMNTS FinTech IPO Index is down 35% YTD through last year, and Nasdaq is down more than 20% YTD. This could spell the end days for VCs sinking money into startups with implied valuations that top 100 time revenues, SineWave Ventures Founder/Managing Partner Yanev Suissa told Karen Webster. READ MORE

Branches Go Digital. Doug Brown, president of digital banking at NCR, told Karen Webster in an interview that banking in the branch today is taking elements from the great digital shift. Smart automation can give credit union customers an enhanced experience, while machine learning and artificial intelligence can help kick up revenues and reduce overhead. READ MORE

ICYMI. Amazon isn’t the only Big Tech firm expanding its foray into the grocery space. Google has been integrating grocery purchasing and order-tracking features into its navigation app and Apple has a nutrition-focused service in the works to compete with Instacart. PYMNTS’ April study, “ConnectedEconomy™ Monthly Report: 3 Ways Consumers Are Dealing With Inflation,” found that 31.6% of respondents said they ordered groceries online in March, up 4.9% from February.  READ MORE