The online grocer invites local vendors to apply to add their goods to its inventory, while giving customers a way to recommend local brands to the retailer though its app. Get the details.
56% Do Not Have AI
Just 16% of retailers have at least one AI engine in place and a mere 3% have multiple AI engines in place. A quarter are in the testing phase. AI leaders today have a significant advantage over laggards.
2 Specific AI-Driven Goals
Two specific goals where retailers want to see measurable results by deploying AI in their merchandise management functions are improving sell-through of inventory (59%) and improving margins (56%).
3 AI-Driven Applications
Three specific applications where retailers want to see measurable results by deploying AI in merchandise management functions are demand forecasting (56%), replenishment (44%) and price management (41%).
TransferWise is the latest fintech unicorn to try its hand at breaking the US, taking its borderless bank account and debit card across the pond one year on from its launch in Europe.
TransferWise's launch in the US, comes just weeks after fellow UK challenger Monzo announced it would open up shop later this year and Germany's N26 promised to make a splash in just a matter of weeks.
Taavet Hinrinkus, co-founder and Chairman, TransferWise says: "Our goal is to offer bank details for every country in the world through one borderless account — the world’s first global account. Since launching in Europe we’ve seen extraordinary customer take-up, with over $10 billion held in deposits so far.”
TransferWise is unperturbed by the logistical complexities of breaking into the US market. Hinrikus points to independent research commissioned by the firm that compared sending and spending money abroad from the TransferWise account and debit card with top US banks and PayPal. The findings revealed that the TransferWise card makes it four times cheaper to spend on their debit card and up to 12 times cheaper to send money internationally from their account.
The firm has hired Tan France, one of the presenters on Netflix’s hit TV show Queer Eye, to be the face of the borderless account for the launch.
Revolut, the fast-growing European fintech, has today announced that it is launching Apple Pay support to its customers in 12 additional countries: Bulgaria, Croatia, Cyprus, Estonia, Greece, Latvia, Lithuania, Malta, Portugal, Romania, Slovakia and Slovenia.
Apple Pay provides Revolut customers with access to an easy, secure and private way to pay in stores, in-app and online via Apple devices. Payments with Apple Pay are faster than payments with traditional debit and credit cards or other payment methods and can be made contactless via iPhone, Apple Watch or Safari on MacBook Pro or MacBook Air with Touch ID, eliminating the need to search for a wallet.
Revolut customers can add their Revolut card to Apple Pay via the Revolut app or via the Wallet app. Also, customers without a plastic card can add a virtual card to Apple Wallet in just a few taps from the Revolut app and start spending instantly, without having to wait for the physical card to arrive in the post. This will enable new customers to sign up and begin spending with Apple Pay in minutes.
Security and privacy are at the core of Apple Pay. When you use a Revolut debit card with Apple Pay, the actual card numbers are not stored on the device, nor on Apple servers. Instead, a unique Device Account Number is assigned, encrypted and securely stored in the Secure Element on your device. Each transaction is authorized with a one-time unique dynamic security code.
Arthur Johanet, Product Owner for Card Payments at Revolut said:
“Revolut’s ultimate goal is to give our customers a useful tool to manage every aspect of their financial lives, and the ability to make payments quickly, conveniently and securely is vital to achieving this. Our customers across Europe have been requesting Apple Pay for a long time, so we are delighted to continue our rollout with 12 additional markets. This is a very positive step forward in enabling even more of our customers to use their money in the way that they want to.”
Apple Pay is easy to set up and users will continue to receive all of the rewards and benefits offered by Revolut’s cards.
With iPhone and Apple Watch, customers can pay with Apple Pay in stores, restaurants, taxis, vending machines and many more places. When shopping in apps or on the web in Safari with Apple Pay, there’s no need to manually fill out lengthy account forms or repeatedly type in shipping and billing information. Every Apple Pay purchase is authenticated with just a glance or a touch with Face ID or Touch ID, or a device's passcode.
With tough new laws for Strong Customer Authentication set to come into force across Europe, a survey of 4000 online shoppers in four core markets finds that up to a half have been forced to abandon purchases because of lengthy or complex security.
Yet shoppers in all markets placed high value on a secure checkout process: French shoppers showed the greatest preference for security (62%), followed closely by German (61%), Spanish (58%) and UK (55%).
The research also found that 44% of UK shoppers had abandoned an online order because of complex or lengthy security, while 48% had done so in Germany, 40% in Spain and 33% in France.
The research is published ahead of the introduction of a new, European-wide, two-stage verification process coming into force from September 2019 as part of PSD2.
Considering the potential impact of SCA on UK consumers, nearly half (45%) of people would be frustrated with a favourite brand that introduced new security processes during online checkout and a fifth (23%) would shop less with that brand if it introduced new security measures. Interestingly, the need to give away complex security information makes as many people feel suspicious (40%) as safe (40%).
Duncan Barrigan, VP product at GoCardless, says: "Protecting shoppers from fraud when they pay online is crucial, and new regulation which achieves this should be welcomed. The flipside is that these measures, if implemented badly, could significantly disrupt consumers and lead to a significant conversion drop off for businesses."
With major retailers like Amazon already sounding the alarm, the European Banking Auhtority last week accepted that some merchants may require "limited additional time to allow issuers to migrate to authentication approaches that are compliant with SCA...and acquirers to migrate their merchants to solutions that support SCA". The regulator says it will set an ultimate deadline for conversion later this year.