Today is Wednesday May 11th and it’s National Eat What You Want Day, so maybe it’s time to get some pizzas made by a robot and delivered by drone. Today is also Alvaro Bedoya’s confirmation vote at the Federal Trade Commission, but Republicans have called for his name to be removed, so anything can happen. Here’s what should be on your radar this morning.
Insta Payday: With 52% of adults living paycheck to paycheck, instant access to wages can be a retention benefit as well as a financial boost. The latest Expanding Payments Choice Playbook® from PYMNTS, a collaboration with Onbe, examines how using instant payroll can help companies build financial security and employee loyalty while reducing turnover. READ MORE
Sales channels: While 61% of online merchants increased their use of marketplaces last year, 40% of marketplace-native businesses don’t believe these avenues will make or break their future. Marketplaces are generally just one of many sales channels for retailers, with only 12% of them selling exclusively online. In Online Sellers: The Future is Cross-Channel, PYMNTS examines the e-commerce landscape and what drives merchants today. READ MORE
Africa packaging: The perception of products made in Africa needs a packaging reboot, Birame Sock, founder and CEO of African B2B marketplace Kwely, told PYMNTS. Poor packaging has led to poor product positioning, but Kwely believes that with the right tools, local producers can succeed in the global market. READ MORE
Crypto compliance: Cryptocurrencies operate on blockchains, which are publicly available and highly transparent, Andrew Fierman, head of sanctions strategy at Chainalysis, told PYMNTS. Once information is stored on a blockchain, it cannot be changed or deleted, allowing anyone to examine the entire transaction lifecycle – a plus for in-depth investigations into illicit behavior. READ MORE
ICYMI: The increased use of automation and robotics in the food industry is helping to fill the labor gap, but consumer preparedness varies by country. The Yo-Kai Express automated restaurant is seeing greater adoption in Japan, where it just launched last month because people are used to vending machines, COO Amanda Tsung told PYMNTS. The restaurant is also in the United States and Taiwan. READ MORE
NEW PYMNTS DATA: THE TRUTH ABOUT BNPL AND STORED CARDS – APRIL 2022
On: Shoppers who have store cards use them for 87% of all eligible purchases – but that doesn’t mean retailers should start buy now, pay later (BNPL) options at checkout. The Truth About BNPL and Store Cards, a collaboration between PYMNTS and PayPal, surveys 2,161 consumers to find out why providing both BNPL and Store Cards is key to helping merchants maximize conversion.