In this week’s news, we saw Nokia’s stock surging on the heels of strong results as the telecom equipment maker has been working globally to deploy 5G solutions. Also, new insights have emerged on buy now, pay later (BNPL) and consumer loyalty to small and medium-sized businesses (SMBs). The Weekender is here to catch you up.
Nokia Rides the 5G Tailwind
Nokia saw its stock surge by approximately 10 percent after the firm said its formidable results in Q2 led it to increase its full-year guidance. The telecom equipment manufacturer has been working globally to deploy its 5G solutions.
BNPL Space Gets Crowded as Apple Pay Later Enters Fray
The buy now, pay later (BNPL) space is getting even more crowded, with Apple now at work on an Apple Pay “perk” that will allow users to pay for purchases over time.
Can Walmart+ Save Walmart from Amazon?
Chris Cracchiolo, a 19-year American Express veteran, is taking over as the head of Walmart+. Perhaps not a moment too soon – because while Walmart has momentum, it has a long way to go to catch up with Amazon.
Visa Links With Global Payments, Desjardins on Installments Service in Canada
Visa is bringing its “installments” option to additional Canadian retailers and credit cardholders. The company is teaming with Global Payments and Desjardins as part of the move.
Walmart’s Indian eCommerce Site Flipkart Raises $3.6B as Pre-IPO Valuation Nears $40B
The value of Flipkart, Walmart’s Indian online commerce venture, keeps rising, as its newest $3.6 billion round of fundraising has created the biggest domestic tech venture that is now worth approximately $37 billion.
Trackers and Reports
Report: Financially Underserved Consumers 3X More Likely to Use BNPL Options at Checkout
Even though a number of the 29 million American consumers who have used buy now, pay later (BNPL) in the past year had experienced financial challenges, PYMNTS discovered that BNPL’s ability to spread payments over time and its ease of use were the most cited reasons for selecting the method.
Report: Healthcare Providers Use AI to Solve Telemedicine’s Privacy Problem
Healthcare providers had to expediently adapt to the large consumer migration to telehealth offerings. Increasing concerns regarding patient privacy and challenges in transferring from one previously siloed system to another created barriers. PYMNTS explores how providers can tap into artificial intelligence (AI) to surmount these barriers.
Report: Loyalty Turns Australia’s Convenience Shoppers Into SMB Fans
Almost 50 percent of all Australian consumers want the ability to accrue rewards and other special deals when they buy from small and family-run businesses, yet just under 30 percent of them presently have access to such offers. Closing this gap could help Australian businesses strengthen their bottom lines.
NEW DATA: One-Third of Consumers Think Their Credit Is Better Than It Is
PYMNTS found in a survey that consumers have false confidence in the level of their credit scores. To that end, over two-thirds of consumers believe that their scores are above average – almost twice the actual proportion.
Fun, Cool and Otherwise Interesting
Facebook Pay’s Expansion Plans Get No ‘Likes’ from Big Tech Rivals Apple, Google
The mobile wallet race officially transitioned into the mobile wallet war this week, with Facebook revealing intentions to support the use of its Facebook Pay offering on sites beyond its ecosystem.
Pepsi Says Shift to eCommerce, At-Home and Health Is Permanent
PepsiCo said this week that it is positioning itself to capture a post-pandemic consumer shift that will see ongoing migration in the direction of online shopping and digital commerce, in addition to a continuing rise in stay-at-home activities and the maintenance of a healthier lifestyle.
SPACs Slow as FinTech IPOs Step Into Listings Spotlight
Blend Labs, the online lending platform, said it has started a roadshow for an initial public offering (IPO) that could bring in up to $360 million in proceeds, a new edition of the IPO/SPAC Tracker finds.
As Netflix Pushes Into Gaming, Stakes Soar in Streaming War
Netflix is reportedly growing its VoD streaming offering to encompass video games within the next year.
Parade of Chinese US IPOs Turns Into Deluge of Delays
What was a flood of public listings for “Big Tech” Chinese firms at one time has evolved into a flood of delays. A tide of IPOs has been “pulled” from being listed – either via official withdraws or pullbacks from even considering the concept.