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Breaking News articles for January 2017

Retail, payments find unity at NRF 2017

Friday, January 20, 2017

The National Retail Federation's 106th Annual Convention and Expo, held Jan. 15 to 17, 2016, at Jacob Javits Convention Center in New York City, reflected the retail and payments industries' diverse community of established global enterprises and recent start-up ventures. Approximately 33,000 attendees, 510 exhibitors and 300 speakers participated in the show, which included 70 educational sessions. In a keynote address, Kip Tindell, NRF Chairman and co-founder and Chairman of The Container Store Group Inc., called retail an "exciting, dynamic and important industry in the U.S.," that employs one out of every four American workers.

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Payments industry addresses ADA compliance

Wednesday, January 18, 2017

Payments analysts and consumer advocates are urging the merchant community to conform with guidelines established by the Americans with Disabilities Act (ADA). The legislation, originally signed into law in 1990 and modified in 2009, established comprehensive guidelines for commercial structures and mass transit to enable people with disabilities to participate in a variety of public venues. These guidelines include specifications for countertop payment terminals and service lanes, payments analysts stated.

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NRF urges Supreme Court to lift surcharging ban

Friday, January 13, 2017

The National Retail Federation recently voiced strong support for the plaintiffs in Expressions Hair Design v. Schneiderman, a lawsuit seeking to overturn New York State's ban on surcharging credit card transactions. Initially filed by 10 merchants against the state's attorney general in 2013, the case is now under review by the U.S. Supreme Court. In a statement issued Jan. 10, 2016, NRF Senior Vice President and General Counsel Mallory Duncan urged the court to mandate fee transparency for credit card transactions. The issue is not surcharging per se, but about giving merchants the chance to show their customers the true cost of using a credit card, Duncan stated.

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Wal-Mart ends Visa debit moratorium in Canada

Wednesday, January 11, 2017

Wal-Mart Stores Inc. and Visa Inc. appear to have settled differences over PIN debit in the Canadian region, retail analysts noted. The Green Sheet had previously reported on Wal-Mart’s May 2016 civil complaint against Visa in Issue 16:06:01, dated June 13, 2016.

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Ecommerce drives global economic growth

Friday, January 6, 2017

Ecommerce may have a greater impact on economic growth than physical goods in the post-industrial world, according to a new report published in December 2016 by McKinsey Global Institute. Digital globalization: The new era of global flows found developing countries are using ecommerce platforms to participate in the international business community. “Tens of millions of small and midsize enterprises worldwide have turned themselves into exporters by joining e-commerce marketplaces such as Alibaba, Amazon, eBay, Flipkart, and Rakuten,” MGI researchers wrote. “Approximately 12 percent of the global goods trade is conducted via international e-commerce.”

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Double-digit growth in 2016 holiday spend

Wednesday, January 4, 2017

Incoming reports on the post-holiday season show double-digit growth in all areas of retail, from mom-and-pop merchants to the world's largest retail brands. Analysts attribute consumer confidence among key demographic groups and omnichannel marketing campaigns as key drivers of increased holiday spend. Consumers are increasingly using technology to augment, but not replace, the brick-and-mortar shopping experience, experts noted. "Consumer confidence continued to improve into December, and we saw this optimism reflected in the holiday spending numbers," said Tom McGee, President and Chief Executive Officer of the International Council of Shopping Centers, a global trade association established in 1957. "The strong holiday shopping season suggests a positive environment for retail sales overall."

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