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☆ E-commerce experts say these 4 checkout mistakes may hurt your business' bottom line
▼ + stars: | 2023-07-10 | by ( Sponsor Post | Created Insider Studios With Paypal | ) www.businessinsider.com time to read: +9 min

But many customers still witness challenges during and after checkout, including false declines and fraud. Below are four common checkout mistakes that enterprise e-commerce businesses make and how to avoid them. If those thresholds are too conservative, they can lead to false declines; if they're too liberal, they become more vulnerable to fraud. E-commerce merchants lost an estimated $11.1 billion in false declines last year. The machine learning models can distinguish between legitimate and fraudulent transactions to reduce false declines.

Persons: they're, Cindy Turner, Turner, Chargebacks, PayPal Braintree6, Experian, Cartes Organizations: Enterprise, PayPal, PayPal Braintree, Merchants, Insider Studios, Accounting, Deloitte, Novarica, Naked, LexisNexis, DE Locations: PayPal Braintree, Risk, chargebacks, . CA

☆ The cofounder of Iconiq-backed fintech Primer is stepping down as CEO, leaked memo shows
▼ + stars: | 2023-07-03 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

Paul Anthony, the cofounder of Iconiq-backed fintech Primer, is stepping down as co-CEO. The company's cofounder Gabriel Le Roux will assume the role of sole CEO. Le Roux confirmed the organizational restructure and said it was a "reflection of the state of the business today." Le Roux insisted that there was no major disagreement to prompt this decision. In a message to staff Anthony said the move was a "real big change on my side."

Persons: Paul Anthony, Gabriel Le Roux, Le Roux, Anthony, We've Organizations: Accel, Iconiq Capital, Apple, PayPal, Braintree Locations: Cocoa

In-store and online sales rose 13% to 7.6 billion euros in the first quarter, in line with the 13.5% seen in the first six weeks of the financial year. The company said it plans to invest 1.6 billion euros to increase gross store space in 2023 by about 3%. Inditex closed its over 500 stores in Russia in March 2022 following Moscow's invasion of Ukraine in February and subsequent Western sanctions. Inditex has begun to charge for online returns in more countries with no impact on sales, the company said. Inditex is also invested in more self-scanning checkouts and is replacing hard anti-theft tags with chips sewn into garments to avoid checkout queues.

Persons: Inditex, Massimo Dutti, Anne Critchlow, Jelena Sokolova, Zara, Corina Pons, Helen Reid, Charlie Devereux, Matt Scuffham, Josephine Mason, Elaine Hardcastle Organizations: Spain Company, Societe Generale, Inditex, Group, Morningstar, Thomson Locations: Spain, MADRID, LONDON, Zara, United States, Mexico, Saudi Arabia, U.S, Europe, Russia, Ukraine, UAE, France, Germany

Net profit came in at 1.2 billion euros ($1.24 billion) for the quarter that ended in April, exceeding analysts' average expectations of 980 million euros in a Refinitiv poll. Inditex reported solid sales, in line with analyst expectations of 7.56 billion euros, even after selling its profitable Russian division in 2022 and absorbing higher labour costs. Part of Inditex's strategy, which also owns Pull&Bear and Massimo Dutti, is to maintain higher prices outside the Eurozone. STEADY MARGINSThe gross margin reached a record 60.5%, showing it has been able to pass on higher prices to shoppers. Analysts believe only the strongest global fashion retailers will gain market share in an environment where consumers are becoming more discerning.

Persons: Inditex, Massimo Dutti, Corina Pons, Helen Reid, Charlie Devereux, Matt Scuffham, Josephine Mason Organizations: Thomson Locations: MADRID, LONDON, Zara, Spain, United States, Mexico, Saudi Arabia, U.S, Europe

☆ PayPal tumbles 12%, eyes lowest close since 2017
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +1 min

May 9 (Reuters) - PayPal Holdings' (PYPL.O) stock slumped 12% on Tuesday, on track for its lowest close in almost six years, after the payments company cut the outlook for its annual adjusted operating margin. The stock, last trading at $66.45, was set to record its lowest closing price since October 2017. It touched a session low of $66.39, its lowest intra-day price since December. PayPal late on Monday estimated adjusted operating margin expansion of 100 basis points this year, compared with its earlier forecast of 125-basis-point growth. Its stock has fallen 7% in 2023, compared to a 17% rise in the Nasdaq Composite Index (.IXIC).

☆ How an ex-police officer made $12 million in 3 years after buying ATMs for $2,100 and operating them as a side hustle
▼ + stars: | 2023-05-06 | by ( Laila Maidan | ) www.businessinsider.com time to read: +9 min

By 2021, he quit his job and began providing ATM machines for others. His company Merchant Task Force, which provides credit-card terminals, shows an income of $844,000 and a net profit of $742,000 for the same period. They had a net profit of about $250 to $500 a month per location from fees charged for withdrawals. When he purchased his first set of six machines, Alex assumed he got a good discount, which was $2,100 an ATM. Each brought in anywhere from $250 to as much as $1,500 a month in net profit.

☆ The Amex Centurion 'black' card has a $5,000 annual fee and a long list of luxury perks, but you can get many of the same benefits with the Amex Platinum
▼ + stars: | 2023-04-06 | by ( Anna Baluch | Angela Fung | Sarah Silbert | ) www.businessinsider.com time to read: +15 min

It makes premium credit cards like the Platinum Card ($695 annual fee) and the Amex Business Platinum Card ($695) look downright affordable. Benefits of the Amex Centurion black cardThe Amex Centurion card isn't just a status symbol; it has some great perks, including some unique benefits like complimentary Delta elite status that you won't find on other cards. The Platinum Card and Amex Business Platinum Card offer status with Hilton and Marriott**, but not with IHG and Relais & Châteaux. Unsurprisingly, there's no comparable benefit on the Platinum Card and Amex Business Platinum Card cards**. Once again, the Platinum Card and Amex Business Platinum Card also offer concierge services.

☆ Payment Channels and Types of Transactions
▼ + stars: | 2023-03-21 | by ( Insider Intelligence | ) www.businessinsider.com time to read: +3 min

Ongoing ecommerce growth is pushing payment providers to make efficient and inexpensive digital payment solutions their top priority despite the ever-changing post-pandemic landscape. By the end of 2026, brick-and-mortar will still account for $4 in $5 spent in retail—making it a critical investment for payment providers despite being less flashy than ecommerce and emerging digital channels. In order to keep shoppers in-store, merchants must broaden their accepted payment methods by allowing proximity mobile payments; contactless cards; buy now, pay later; and account-to-account payment options. As a result of this uptick, payment providers must invest in their mobile shopping and buying experience. Curious to learn more about payment channels and types of transactions?

☆ Payment Channels and Types of Transactions: Digitization, Integration, and the Economy
▼ + stars: | 2023-03-16 | by ( Insider Intelligence | ) www.businessinsider.com time to read: +3 min

While most retail sales still occur in-store, digital is driving innovation as ecommerce grows. Ongoing ecommerce growth is pushing payment providers to make efficient and inexpensive digital payment solutions their top priority despite the ever-changing post-pandemic landscape. In order to keep shoppers in-store, merchants must broaden their accepted payment methods by allowing proximity mobile payments; contactless cards; buy now, pay later; and account-to-account payment options. As a result of this uptick, payment providers must invest in their mobile shopping and buying experience. Curious to learn more about payment channels and types of transactions?

☆ Russia's Magnit opens first 'hard discount' stores
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: +1 min

Feb 28 (Reuters) - Russia's Magnit (MGNT.MM) supermarket chain launched its first "hard discount" stores under a new brand on Tuesday, the company said, as falling living standards and rising inflation push Russian consumers to search for lower-ticket items. Magnit said the new "V1" - which stands for "First Choice" in English - brand will focus on basic products, including fruit, vegetables and bakery goods, carrying a narrower range of items than the chain's existing stores. "Discounter stores remain one of the fastest-growing market segments and maintain high potential for future development," Anzhela Ryabova, Magnit's director of hard discounter format, said in a statement. Magnit said it plans to open 15 pilot V1 stores in the Moscow Region "in the nearest future". Magnit already operates another line of discount stores under its "My Price" brand.

Below, they weigh in on today's tipping culture, who gets a gratuity and how much. Dr. Peters adds that tipped employees may also include most front-of-house restaurant employees, bellhops, parking attendants, airport service workers and food delivery workers. most restaurants), consider using the Capital One Savor Cash Rewards Credit Card. Capital One Savor Cash Rewards Credit Card Learn More Information about the Capital One Savor Cash Rewards Credit Card has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication. And when it comes to using delivery services, consider a card that gives cardholders money they can use to tip delivery workers.

☆ Bandwidth Challenges Limit Grocery Chains’ Technology Initiatives
▼ + stars: | 2023-01-27 | by ( Isabelle Bousquette | ) www.wsj.com time to read: +5 min

Grocery chains looking to deploy new technologies are running into internet bandwidth limitations because of aging hardware and remote locations. “The more you put in the store, the more bandwidth it requires,” said Mr. Kosla. Further investment, however, might be required if the company decides to tap more cutting-edge, bandwidth-heavy tech in the future, Mr. Kosla said. There are a couple reasons grocery stores might struggle with bandwidth, one of the biggest being their locations. In other instances, Mr. Watkins said he might work with technology providers to find ways for processing data with less bandwidth.

☆ ‘Sonic Logos’ Struggle to Get Heard at U.S. Checkouts
▼ + stars: | 2023-01-12 | by ( Katie Deighton | ) www.wsj.com time to read: +8 min

A spokeswoman for American Express said the company’s sonic logo plays on marketing channels such as brand videos, but not at any credit-card terminals. PREVIEWPayments firms say sonic logos at cash registers can also communicate to customers that they are transacting with a trusted merchant, making the sounds akin to the stickers of credit-card logos that often appear in store windows. Visa’s spokeswoman said the company doesn’t share figures on how many businesses play its sonic logo due to the complexity of tracking rollouts. To that suggestion, Mastercard said the value of sonic logos for merchants “comes in through consumer trust and reassurance.” Visa declined to comment. But some retailers want no part of sonic logos.

☆ Shoppers scrambled to grab the Prime energy drink promoted by YouTubers Logan Paul and KSI at Aldi, leaving shelves bare
▼ + stars: | 2022-12-31 | by ( Grace Dean | ) www.businessinsider.com time to read: +5 min

Aldi says it's sold out of Prime just one day after it started selling the energy drink. "It's not a nice drink at all," one shopper who bought the drink for his son told Insider. Leat told Insider he had followed KSI for a long time, "so I wanted to see for myself if his product lived up to the hype." Sam Kinsella, a landscape gardener from Bedfordshire, told Insider that he'd bought it because his son had seen it on TikTok. Jake Dickinson, a motor factory manager from Lincoln, told Insider that some flavors were better than others.

A virtual credit card consists of a new set of numbers tied to that original credit card that you can enter whenever you're asked for your credit card information when making a purchase. Not all credit card providers offer this, but if you log into your credit card account, you might see an option to enroll and create virtual credit cards. To use these digital wallets, you have to first enter your regular credit card number (or perhaps a virtual card that you generated via your credit card issuer). "They're getting a tokenized credit card number, which is basically a virtual credit card number. Managing employee credit cards: Rather than sending all employees physical credit cards for work expenses, you could provide virtual credit cards for both convenience and control.

☆ Retailers Rethink In-Store Tech as Shoppers Return
▼ + stars: | 2022-12-19 | by ( Isabelle Bousquette | ) www.wsj.com time to read: +4 min

Retailers during the pandemic poured investments into e-commerce, as many questioned whether shoppers would ever return in full force to physical stores. E-commerce is now 16.4% of all retail shopping, down from 18.8% at the height of the pandemic, according to the National Retail Federation. Photo: The Kroger Company“There is an opportunity to remove the friction,” said Mr. Cosset. “It’s never enough.”In addition to cost barriers, Mr. Cosset of Kroger said it is also wise to hold back on some investments based on what the consumer actually wants. But privacy concerns coupled with the cost of large-scale camera installation make it impractical, Mr. Cosset said.

☆ Walmart rolled out self-checkout to streamline operations and reduce labor needs — but employees and customers say it's causing a surge in theft
▼ + stars: | 2022-12-13 | by ( Ben Tobin | ) www.businessinsider.com time to read: +5 min

Walmart CEO Doug McMillon said stores could close if the rising tide of theft wasn't stemmed. Customers and employees blame self-checkout, which Walmart has increasingly relied on, for theft. Since McMillon made those comments, more than 100 Walmart customers and former and current employees have reached out to an Insider reporter to say the retailer must rely less on self-checkout. "They need to hire cashiers again and do away with so many self-checkout," Mindy Stanley, a Walmart customer from Ashland, Kentucky, said. Polly Kearns, a Walmart shopper from Gulfport, Mississippi, said the best way to protect against theft and make customers happy was to eliminate self-checkouts.

☆ Kohl’s, Bed Bath & Beyond and Uniqlo add self-checkout
▼ + stars: | 2022-12-05 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +4 min

Plus Uniqlo, Primark and other chains have started to roll out self-checkout machines at some of their stores. A Uniqlo self-checkout machine in Spain. This is a problem for self-checkout: customers aren’t used to removing security tags themselves, and most self-checkout machines aren’t equipped to do so. To get around this, some apparel stores are using wireless “radio frequency identification” security tags, known as RFID, on merchandise instead of hard tags. Stores such as Uniqlo have invested in new self-checkout machines that automatically recognize these tags, eliminating the need for customers to scan any products themselves or remove security tags.

☆ Disabled Shoppers Struggle With Inaccessible Self-Checkouts
▼ + stars: | 2022-11-21 | by ( Katie Deighton | ) www.wsj.com time to read: +8 min

Stores’ self-checkout machines can annoy shoppers with error messages about unexpected items in the bagging area and other hiccups. PREVIEWThe problem is spreading as companies continue to install self-service transaction machines around the world, some disabled people and disability-rights activists say. The Baltimore-based organization last year worked with McDonald’s Corp. to upgrade its self-service kiosks so that they could be used independently by blind people. Walmart said its self-checkout system was accessible because staff had been trained to help disabled customers use it. Steps toward potential regulationsThe U.S. is looking into the possibility of creating regulations for the accessibility of self-service checkouts and ordering systems.

☆ Analysis: World Cup could be nightmare before Christmas for Britain's supermarkets
▼ + stars: | 2022-10-19 | by ( James Davey | ) www.reuters.com time to read: +6 min

Retail executives say the World Cup, moved to the winter to avoid the intense Qatari summer temperatures, has totally thrown the algorithms they increasingly use to predict trading and plan their logistics. "It's also an executional headache, because right when you want to have everything Christmas out, you've got to somehow reflect slabs of booze and snacking for the World Cup," he said. During the last World Cup in July 2018, which coincided with a prolonged period of hot weather, shoppers visited UK supermarkets an extra 13 million times, according to market researcher Kantar. Of course, customers visiting stores to buy festive goods could buy in World Cup supplies at the same time. "It's not going to be as big as the summer World Cup, that is clear," said Fraser McKevitt, head of retail and consumer insight at Kantar.

☆ An Airbnb host who manages 60 properties and has earned 4,300 5-star reviews shares the biggest errors she sees newbies make
▼ + stars: | 2022-09-29 | by ( Dan Latu | ) www.businessinsider.com time to read: +7 min

After seeing her listing on the front page of Airbnb search results, other hosts in the area reached out for advice. Now, she runs an operation with six assistants that oversees 60 properties nationwide, from condos in Myrtle Beach to fishing cabins in Colorado. This strategy will only ultimately frustrate guests, Mosher said. In addition to bad reviews, hosts with an over-capacity space are increasing liability for their space and the wear and tear on their furniture. For example, instead of "Thanks for your message," Mosher sends guests: "Thank you for the fantastic communication, safe travels and happy adventures."

☆ Amex has an invite-only Centurion 'black' card with a $5,000 annual fee and several luxury perks, but you can get many of its benefits with the Amex Platinum
▼ + stars: | 2020-11-03 | by ( Anna Baluch | Freelance Writer | Read More | ) www.businessinsider.com time to read: +16 min

Apply and select your preferred metal Card design: classic Platinum Card®, Platinum x Kehinde Wiley, or Platinum x Julie Mehretu. Benefits of the Amex Centurion black cardThe Amex Centurion card isn't just a status symbol; it has some great perks, including some unique benefits like complimentary Delta elite status that you won't find on other cards. The Platinum Card and Amex Business Platinum Card offer status with Hilton and Marriott**, but not with IHG and Relais & Châteaux. Unsurprisingly, there's no comparable benefit on the Platinum Card and Amex Business Platinum Card cards. Read more: Amex Platinum card reviewIf you're a business user, the Amex Business Platinum Card is worth a look.

To shop at Amazon Go, you will need to first download the Amazon Go app and connect your Amazon account. When you're ready to shop at Amazon Go, you must scan your barcode in the app as you walk into the store. Then, you can take whichever items you want and simply walk out of the store. The Amazon Go store has sensors that track what you take off or put back on the shelves. If you want to find the nearest Amazon Go store, go to the Stores tab to select a store.

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