POS and Retail

Thieves are getting more organized and aggressive in how they steal from shelves to fund bigger schemes. Emerging checkout systems that track shoppers can deter some of this activity, but not enough to address the full scope of the risk.

The metaverse is already blurring the lines between physical and online commerce, and many retailers are profiting from it. Banks and payment companies can play an even bigger role by helping money move without friction.

Starbucks and Kroger have invested heavily in payment technology over the years to gain an edge over their competitors. Their newest systems are focused on shaving off valuable seconds at checkout.

Bipartisan legislation co-sponsored by Reps. Lance Gooden of Texas and Peter Welch of Vermont would require large banks to support at least one network other than Visa or Mastercard. Banking industry groups argue that it would help big retailers at the expense of consumers.

The banks that own the peer-to-peer payment network are reportedly considering a retail launch that could fend off rival payment methods — or simply cannibalize the sizable revenue issuers get from credit and debit cards.

Acquiring the earned-wage-access firm and challenger bank would further efforts by the retailer and its partners to develop a "super app" featuring mobile financial tools.

The buy now/pay later craze already has retailers demanding lower fees, according to Klarna.

Though the retailer's threat to drop Visa in the U.K. appears to have subsided, companies like Clik2pay, Affirm and Curve have seized on an opportunity to advance account-to-account transactions, buy now/pay later and cryptocurrency.

The e-commerce giant has threatened to ban Visa cards in the U.K., and its partnerships with the likes of Affirm and Venmo give it alternative ways to accept payments — and the means to make good on that ultimatum.

The partnership pits the buy now/pay later company against the e-commerce company's issuer partners, JPMorgan Chase and Synchrony Financial, and adds to the fintech's allure as an alternative to payment cards.