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Womply, a provider of business analytics via software-as-a-service, partnered with leading global payments acquirer Elvaon to help small and midsize businesses attract, retain and engage their customers. The technology suite, launched Feb. 13, 2019, addresses growing demand by SMBs for value-added services, the partners stated. Guy Harris, president, North America and Global Revenue at Elavon, said, “Today, even sole brick-and-mortar businesses need an online presence to attract, retain and engage customers.”
Retail sales during the year-end 2018 holiday season grew 2.9 percent over the same period in 2017 to total $707.5 billion, according to the National Retail Federation. That fell short of the 4.3 percent to 4.8 percent gains the NRF predicted at the start of the season. "Today's numbers are truly a surprise and in contradiction to the consumer spending trends we were seeing, especially after such strong October and November spending," NRF Chief Economist Jack KleinheNz said.
The ATM industry is celebrating historic milestones in 2019, as U.S. ATMs approach their 50th birthday. As part of this, the ATM Industry Association held its 20th annual conference in February at Disney World’s Coronado Springs Resort in Orlando, Fla. Themed ATMs and Apps: The New World of Customer Experience, the event attracted legacy players and newcomers across expanding self-service channels. ATMIA conference organizers said security featured prominently in the agenda.
A new report from the Electronic Transactions Association and The Strawhecker Group revealed that U.S. consumers increased usage of electronic payment options last year, outpacing overall growth in gross domestic product. According to the U.S. Spending Snapshot, published by the ETA and TSG, consumer spending with credit and debit cards and mobile wallets grew by 7.2 percent year-over-year for the third quarter of 2018, more than doubling the 3.5 percent year-over-year growth recorded for the third quarter of 2017.
New findings from Marqeta indicate millennials are less likely than older consumers to remain loyal to their banks. Survey data found 48 percent of millennials would consider moving to a digital-only bank; only 1 in 6 respondents couldn’t imagine changing banks. Researchers also observed a growing movement away from paper and electronic checks, with 48 percent of millennials claiming they "couldn't remember the last time they wrote a check for something other than utilities and rent."
Last year marked a ‘milestone year’ for automated clearing house payments, as the network’s volume of cleared payments climbed to nearly 1.5 billion, driven in part by same-day payments and person-to-person transactions. 2018 also marked the fourth straight year of ACH growth in excess of 1 billion payments, according to NACHA.
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