POS and Retail

As the Senate debates this year's defense spending package, analysts say the highly partisan politics of this Congress, as well as the banking industry's lobbying, make it difficult for Sen. Dick Durbin's, D-Ill., credit card legislation to slip through this round.

Two executives behind BMO's purchase of Bank of the West from BNP Paribas discuss how the deal happened and what comes next for BMO.

Supermarket chain Kroger refused to accept Apple Pay and similar options in stores for nine years. It's changed its mind — but Walmart, Home Depot and Lowe's remain holdouts.

Not every shopper wants to charge the same card every time — but many do. Retailers like Adorama and Nordstrom, and payment companies like PayPal, are digging into their data to determine when an invisible payment is the best option for a customer, and when it's a pain point.

The more that stores reinvent the physical point of sale — or remove it entirely — the more they gather insights that go beyond just the payment. This can be extremely valuable to retailers that know how to use this new information, particularly for targeted marketing.

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.