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February 1, 2023
On the web
U.S. Online Retail Spending Passes $1 Trillion for First Time
Chain Store Age
A record-breaking fourth quarter helped make 2022 the highest single year ever of digital commerce in the United States. U.S. digital spending rose roughly 11% to $1.09 trillion in 2022 from $904.3 billion in 2022, according to the annual “State of Digital Commerce” study from ComScore.
January 27, 2023
On the web
Payment Trends to Watch in 2023
If 2021 was focused on growth and scale, and 2022 saw cost-cutting and survival as key objectives, then 2023 is a year to aim for stability. A challenging macroeconomic climate is forcing payment issuers and acquirers to prioritize revenue growth and operating efficiency, seen as the top priority by 25% and 24% respectively of respondents.
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Top Stories from Payments News
- U.S. Payments Forum Unveils First-of-its-Kind Comprehensive Resource on Authentication Techniques for Remote and In-App Payments
- Federal Reserve Announces July Launch for the FedNow Service
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- China’s Digital Yuan Can Now Be Used to Pay Highway Toll Fees on Major Routes
- Co-op Solutions Introduces Co-op Pay Network to Help Credit Unions Optimize Debit Profitability
- SoftBank, Ant Seek to Sell Paytm Stake Via Open Market
- JPMorgan Restricts Employee Use of ChatGPT
- Linux Foundation Europe Launches the OpenWallet Foundation to Power Interoperable Digital Wallets
- China’s Digital Yuan Needs WeChat, Alipay to Boost Adoption, Experts Say
- Boston Fed, MIT Complete Research Project into Feasibility of a Central Bank Digital Currency
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