In today’s connected economy, buy now, pay later (BNPL), company Afterpay announces new partnerships with Nordstrom, Tommy Hilfiger and Calvin Klein, while Go Instore breaks down shopper intent, which ranges from physical stores and e-commerce. Additionally, Petco and Lowe’s are gearing up to launch a series of in-store stores.
BNPL Firm Afterpay partners with 3 major retailers
BNPL Afterpay has launched partnerships with three retailers – Nordstrom, Calvin Klein and Tommy Hilfiger – with Nordstom already offering the company’s service online and in-store. “We are constantly evolving to improve the in-store and online customer experience at Nordstrom and Nordstrom Rack,” said Dennis Bauer, president of payments and credit at Nordstrom, in a press release.
Live video shopping turns purchase intent into online conversions
People go to stores with the intent to buy, but when it comes to e-commerce sites, they may just be there to browse. However, this fact of retail life is being reshaped by COVID, as e-commerce becomes the go-to shopping method, forcing brick-and-mortar retailers to adapt. Co-CEO and co-founder of Go Instore, André Hordagoda, told Karen Webster of PYMNTS: “When you walk into a store, your propensity to buy something is between 20% and 30%, whereas you check the same retailer or brand website, you’re aiming for 1% to 2%, which is a huge differential.
Lowe’s and Petco to pilot 15 mini store-in-store locations
Lowe’s and Petco have a joint venture that he hopes will catch the eye of customers. The two retailers are working together to set up pet supply outlets in 15 of Lowe’s home improvement warehouses in three states. The first store-in-a-store is expected to open in Texas next month, followed by additional Lowe’s stores in North Carolina and South Carolina by the end of March.
Neobank XTM Launches Visa Debit Card
Neobank XTM has formed a partnership with Visa that will see the payments giant create a debit card for XTM’s Today program. XTM, headquartered in Toronto and Miami, helps businesses and service workers in the hospitality and personal care industries access their salaries and rewards.
Mastercard: Instant payments free up weeks of working capital for small business suppliers
Buyers and suppliers have been trying for decades to accelerate B2B payments, forcing them to wrestle with the basics of making payments faster and the resilience of paper checks. It’s only in recent years that we’ve seen the timid adoption of BNPL, virtual cards, and dynamic discounts in the space.
AirPlus and Coupa collaborate to offer better supply
Corporate payments specialist AirPlus International is working with Coupa’s corporate spend management platform to offer customers new procurement tools. The companies said on Thursday that provisioning AirPlus virtual cards would become a payment option within Coupa Pay, the company’s B2B payment solution. Customers of both companies can streamline and centralize travel expenses, business resources, and utilities.