It’s Friday, May 27, this year’s kick-off to summer beach days, backyard barbecues and vacation plans. It’s also the start of the three-day weekend that wraps with Memorial Day parades and ceremonies to honor U.S. military personnel who died while serving in the armed forces.
In other news, Manchester, New Hampshire — about an hour’s drive north from Boston — is the hottest housing market in the U.S., with listed homes 6% above the national average and being snapped up in days.
Here’s what else should be on your radar this morning.
Inflation Side Effects: As inflation soars, so do payment declines for insufficient funds. Payment declines due to insufficient funds escalated by 43% between March and April, according to PYMNTS’ report “The Digital Economy Payments May 2022 U.S. Edition.” The survey asked consumers how their perception of rising prices impacted their shopping and payment experiences and preferences. READ MORE
Downside of Fighting Fraud. A negative side effect of fighting fraud is the number of false declines, Alon Shem-Tov, head of the product group at Riskified, told PYMNTS. An estimated 10% to 15% of payments processed in the $4.3 trillion global eCommerce market in 2020 failed because of fraud concerns that were later discovered to be misplaced. READ MORE
Modernizing Spend Management. Lack of knowledge about the latest advances can leave small and midsize firms stuck with the same old siloed apps and spreadsheets, Krishna Panicker, vice president of product at Airbase, told PYMNTS. Many managers and executives aren’t aware that new innovations are available that can connect accounting operations and real-time visibility. READ MORE
ICYMI. Post-pandemic activity has breathed new life into old-school shopping habits like walking around in a mall and buying clothes off the rack. The anticipation of returning to the office and to social functions has seen strong sales at Macy’s and Dollar Tree. READ MORE
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