Card payments have become the most popular form of payment for the first time ever, as cash payments continue to decline. According to new data from UK Finance, cash payments dropped by 15 per cent over the last year to 13.1 billion, while a boost in card payments in the final quarter saw them pull ahead for the first time with 13.2 billion. A huge increase in contactless payments helped tip the balance over 2017, rising 97 per cent to 5.6 billion, with an estimated 63 per cent of UK adults now using the technology regularly
Banks are closing down their high street branches at an “alarming rate” of almost 60 per month, according to new research.
You’ve been in your role for about a year now – what’s it been like so far? It’s been great to join Debenhams Personal Finance which has seen some huge growth over recent years across all the product areas and the card programme is a key part of this. We have a clear defined strategy to grow this even further over the next few years.
Retail sales at the start of the year continued to slow down, seeing unexpected declines across all sectors except non-food.
At a time when most private equity firms are growing increasingly cautious about investing in retail, one firm is going against the grain. Sycamore Partners is raising its biggest-ever fund, which it will use to invest primarily in retail, CNBC reported. The firm is looking to raise between $3 billion and $4 billion, according to the report. The news comes a month after Sycamore closed on its $6.9 billion acquisition of Staples, which it is splitting into three parts
Marianne Wilson Costco Wholesale Club reported better-than-expected profit and revenue for its fourth quarter. read more
Marianne Wilson A New England-based retailer that has the distinction of being the first curtain catalog company is closing up shop. read more
Marianne Wilson The European Union has hit Amazon with a tax bill. read more
Marianne Wilson Office Depot took a first step toward its goal of transforming itself from a traditional office products retailer to a broader business services and technology products platform. read more