PYMNTS-MonitorEdge-May-2024

At The Grocer, Consumers Sizzle At Self-Checkout

Sizzle

Self-checkout: Check yourself, as the song says. And in retail, the checking yourself is literal and increasing. As many as 70 percent of shoppers have used this option at grocers, per the PYMNTS Self-Service Kiosk report. Shows the lure of speed and choice in the checkout experience, and a little bit of the “do it yourself” mindset.

Big tech deals: Gets a nod from the antitrust head in the U.S., who cites the Supreme Court ruling on Amex as solidifying the two-sided market argument that such deals give rise to “great efficiencies,” such as those seen in the wake of Google’s buy of YouTube. In the meantime, CA Tech gets bought for $19 billion.

Paytm: Surpasses $4 billion in monthly GTV, with transactions at 1.3 billion in the June quarter. The number shows the impact of increased traction of digital payments in India, where the mobile wallet is finding purchase when it comes to … making purchases.

Fizzle

Corporate spending: May not get the boost that some might have hoped from the Trumpian tax cuts. Turns out that most execs surveyed by the Association for Finance Professionals don’t see a spending bump – and those who do plan to boost activity will use funds to pay down debt or pull cash back from overseas, not invest in the business.

Canada’s cyber-risk: Analysis of the country’s department of finance shows there is a “medium” likelihood of a cyberattack that could cause “significant” impact on the entity’s ability to function. Medium’s what you want for steak, not for business risk; “significant” are the resources that are likely to be devoted to fixing the vulnerabilities.

AML not enough: New rules in the EU are designed to target money laundering, and yet there are already calls for … more rules. EU bank officials state there is not enough oversight in place – particularly when it comes to pulling banking licenses or giving overseers enough power to boot bank board members.

PYMNTS-MonitorEdge-May-2024