Transitions In Retail And Banking Technology 

By  |  January 27, 2021
 | 
Mobile Banking

Payments on mobile devices have been on the uptick amid the pandemic, while mobile video consumption has risen during the past year. In brick-and-mortar retail, the U.S. division of retailer L’Occitane has filed for Chapter 11 bankruptcy as it plans to optimize its U.S. store footprint. And in banking, credit unions (CUs) that prioritize digital updates combining analytics and automation are not as likely to see clients move to bigger financial institutions (FIs). All this, Today in Data.

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    Data:

    82%: Share of credit union execs who say CUs will consider P2P payment apps because merchants want them.

    77%: Portion of consumers looking to use contactless payments in fast-food restaurants and coffee shops.

    56.5%: Decrease in L’Occitane’s U.S. revenues between April and December compared to the previous year.

    43%: Share of CU non-members who cite high costs as the reason for their dissatisfaction with their FIs.

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    16%: Portion of mobile video consumption by consumers from 45 to 54 years old.


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