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NewsBriefs

Following are excerpts from news stories recently posted under Breaking Industry News on our is disrupting financial institutions,
home page. For links to these and other full news stories, please visit www.greensheet.com/ such as Tesco Bank, that rely on
breakingnews.php?flag=previous_breaking_news. Travelex services.
New Fed data points to
soaring card payments
Americans continue to ring up a
growing share of purchases using
Oklahoma overturns surcharge ban credit and debit cards. New data
Oklahoma Attorney General Mike Hunter reversed the state's ban on credit published by the Federal Reserve
card surcharging, overturning HB 1425, which was signed into law April 30, reveals that growth in credit and
debit card payments is outpacing
2019, by Governor John Kevin Stitt. The legislation prohibited merchants from
increasing transaction prices for buyers who pay with credit cards instead of growth in all other forms of noncash
payments. U.S. shoppers made 174.2
cash. Sen. Michael Brooks, D-Oklahoma City, had appealed the decision in
a letter to the state attorney general. Brooks challenged the constitutionality billion noncash payments in 2018,
an increase of 30.6 billion (or nearly
of the surcharge ban, claiming it violates a merchant's right to free speech
guaranteed under the First Amendment of the U.S. Constitution. 4.7 percent) over 2015, according to
the 2019 Federal Reserve Payments
IoT-based cyberattacks expected in 2020 Study. The combined value of "core"
noncash payments (credit and debit
A Dec. 31, 2019 malware attack on Travelex reflects a new wave of advanced, cards, ACH and check payments)
automated attacks against financial infrastructure, experts warned shortly totaled $97.04 trillion, an increase of
after the intrusion was disclosed. First reported by the Wall Street Journal and $10.25 trillion (or 8.47 percent) over
TechCrunch, the attack that forced the retail foreign exchange service to close its 2015, the Fed said.
mobile app and worldwide network was initiated by a computer-borne virus.
In a Jan. 2, 2020 TechCrunch article, Zach Whittaker reported the global outage Cross-channel shopping drives
2019 holiday spend

As payments and retail analysts
predicted, omnichannel commerce
played a major role in 2019 holiday
spend, outperforming digital-only
and in-store-only shopping. Trends
such as buy online, pick up in store
(BOPIS) and purchases made in stores
after returning ecommerce items, can
blur the lines between physical and
digital shopping, according to Phil
Rist, executive vice president strategy
at Prosper Insights & Analytics. "The
growth in online retail sales is a tide
that lifts everybody," Rist said.
Green products top price,
according to IBM, NRF
Global demand for sustainable
products and services was a key
takeaway in a study published Jan. 10,
2020, by the IBM Business Institute for
Business Value and the NRF. Nearly
19,000 shoppers from 28 countries and
various age groups and backgrounds
participated in the survey, which
sought to identify emerging consumer
and retail trends. Researchers
found the survey revealed a new
type of environmentally conscious
consumer.

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