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NewsBriefs

This article contains excerpts from news stories recently posted under Breaking Industry News on HSBC's future is Asian
our homepage. For links to these and other full news stories, please visit www.greensheet.com/
breakingnews.php. Fintech executives and financial
analysts are discussing the imminent
departure of HSBC Holdings BLC
from U.S. retail banking. Europe's
largest bank, headquartered in
London, will set its sights on the
Asia Pacific market, selling off
unprofitable U.S. outlets to channel
partners, according to company
representatives.
Digital commerce growth soars past pandemic
In a May 26, 2021, statement, the
Retailers and consumers are doubling down on digital commerce, according company disclosed plans to transition
to two separate studies published in May 2021, one by Blackhawk Network its 148 retail branches, directing
and the other by Capgemini and Efma. Findings show upwardly trending East Coast customers to Citizens
digital spend in multiple regions even as stores reopen after the pandemic, Financial Group Inc. and West
participating companies stated. Theresa McEndree, global head of marketing at Coast customers to Cathay General
Blackhawk Network, observed that ecommerce and digital wallets afford easy Bancorp. Approximately 24 locations
ways to tap into mobile and digital rewards. will be retained by the company as
international wealth centers for elite
"Our research shows that consumers around the world are drawn to retailers clientele, HSBC noted, adding that
that offer fast, seamless and secure digital payments," she said. "As we start to the deals will be subject to regulatory
hit more of a stride in our economic recovery, the winners will be the merchants approval.
that cater to the everyday digital payment preferences of today's shopper."
SEAA 2021 wows nearly
1,000 in the flesh
The Southeast Acquirers Association
celebrated its 20th anniversary at the
Hyatt Regency Coconut Point Resort
in Bonita Springs, Fla., on May 24
to 26, 2021, with live music and an
abundance of attendees. With COVID
restrictions lifting and growing
numbers of people vaccinated, the
SEAA served as a perfect reunion
for payment professionals, event
planners noted. John McCormick,
vice president of General Credit
Forms and SEAA treasurer, stated he
is honored to be part of the growing
organization, which he co-founded
with Audrey Blackmon and Judy
Foster in 2001.

"We registered over 1,000 and were
just shy of that number with check-
ins," he said. "I think we’ll [reach
1,000 attendees] next year in Atlanta,
which will be a great celebration for
our board and advisory committee."

Fed looks into backing
cryptocurrency

The Federal Reserve is taking a hard
look at the cryptocurrency market,
with an eye toward issuing its own.
Fed Chairman Jerome Powel first
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