| July 20 Payments NEXT newsletter: Prime Day, back-to-school sales, TrueAccord, EBANX, LG Pay, ATMs, news roundup…
|
| Another week, another $6.2 billion+ in record Amazon Prime Day sales. That’s our lead story and we’re sticking to it, even though some are saying it might have reached $7 billion. Some back-to-school shopping was done and the NRF estimates $80.7 billion will be spent by consumers getting students ready for back-to-school. TrueAccord is disrupting the infamous US debt collections business through the use of artificial intelligence and data science. EBANX sees no signs of a slowdown in Latin America e-commerce as it helps international companies navigate the sometimes-turbulent waters of LatAm business. All this and more in our global news roundup below. Enjoy your summer weekend! |
| Amazon Prime Day sales hit record highs
And what a two-day success it was as analysts estimate sales reached more than $6 billion. Amazon does not publicly release sales event figures but market intelligence firm IgnitionOne estimated sales were $6.2 billion, more than $2 billion higher than last year’s 1.5-day event, and higher than combined sales for Black Friday and Cyber Monday. That’s a lot of top-selling Echo LifeStraw Personal Water Filters, DUO60 Instant Pots, and 23andMe Health + Ancestry kits – the most popular items this year in the US. Read more… |
| Back to school spending: Average spend up, total down
The National Retail Federation (NRF) and Prosper Insights and Analytics research show the good news is that average spending on most product categories will be up. The positive economy is a factor. Total spending for K-12 schools and college combined will be down slightly to $80.7 billion from last year’s $82.8 billion largely because of the lower number of households with children in elementary through high school the NRF reports. Read more… |
| AI disrupting the US debt collection industry
TrueAccord CEO Ohad Samet says debt collection is a business that is wide open for disruption, not only for its past poor practices but most importantly for his company by the application of artificial intelligence, data science, and automation. “The debt recovery industry is broken and operates on a legacy system marred by bullying tactics. It’s also an industry that hasn’t changed in the past 80 years. 77 million Americans have debt in collections and the experience must be changed.” Read more... |
| EBANX sees growth and opportunity in Latin America
“E-commerce — including everything from retail to travel and digital goods — is growing at a pace of 25% to 30% per year in Latin America, and there are no signs of it slowing, as the region continues to digitize. In fact, a recent PWC report showed that 21% of e-shoppers in Brazil make online purchases daily, monthly or weekly,” says Henrik Nilsmo, Chief Commercial Officer for Curitiba, Brazil-headquartered EBANX. Read more… |
| July 19 Global payments news roundup
Our global payments news roundup wraps up with a look at eBay’s new managed-payments platform, the launch of LG Pay, the impact on independent ATM owners as Microsoft stops support for Windows 7, why Away - the luggage success story - doesn’t sell on Amazon, and finally an infographic look at the top 10 biggest global online marketplaces. There. That should keep you reading this weekend! Read more… |
| Get global payments industry news and insight
Find the daily payments industry news you can use at PaymentsNEXT. |
| |
