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IndustryUpdate

• Young consumers have an insatiable appetite for fashion, evidenced by the fact that one in eight
consumers ages 18 to 24 shop for clothing on a weekly basis, so retailers must adapt to this growing
demand for "fast fashion," according to Kurt Salmon, part of Accenture Strategy. Thus, speed and agility
have become top priorities within the fashion segment.
"Retailers need to accurately analyze what is selling in real time and be in a position where they can
react quickly," said Dan Murphy, Managing Director at KS. "According to one major fashion retailer, there
is now only a 24- to 36-hour window from browsing to buying. Retailers that actively engage with their
customers, analyze shopping and social media habits, and pre-empt future trends will be the winners in
the fast fashion market."
• Making the leap from micro-chipping the family pet to micro-chipping family members has gained little
ground until recently. At Epicenter, Stockholm's digital house of innovation, which comprises roughly
100 member-companies that collaborate on startup projects, micro-chipping has found a home. Since
January 2015, about 150 of the center's 2,000 workers have agreed to have rice kernel size microchips
injected by syringe into their hands.
What are the benefits? For Epicenter workers, aside from the publicity generated for being on the cutting
edge, the passive near field communication technology, when activated by a reader within inches of the
implant, can transfer data between the devices to open doors, access devices and, with the wave of a
hand, make purchases on premise for food, snacks and other items.

ANNOUNCEMENTS FTC finalizes NetSpend, Amazon cases

NetSpend Corp. agreed to settle Federal Trade
Electronic Payments moves up Nilson list Commission allegations that the prepaid card company
deceived people about access to funds deposited on
For the fifth consecutive year, Electronic Payments Inc. NetSpend debit cards. The Federal Trade Commission
appeared on The Nilson Report's list of Top Acquirers and Amazon Inc. also agreed to end appeals related to
in the United States. Acquirers were ranked by purchase 2016 court findings that the company billed consumers
transaction volume. The company advanced to No. 34 in for unauthorized in-app charges incurred by children.
2016, five spots higher than its 2015 ranking. "With the This decision will allow Amazon's refund process to
proper market foresight and ability to acquire techno- begin.
logical innovations, such as Exatouch Point of Sale and
Vault Payment Gateway, we've been able to expand our AFSA's Himpler testifies on CFPB
reach and develop additional means for our business
partners to advance," stated Michael Nardy, founder American Financial Services Association Executive Vice
and Chief Executive Officer of Electronic Payments. President Bill Himpler testified before a House Financial
Services subcommittee addressing Consumer Financial

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