Today in the connected economy, Walmart sees pluses and minuses as consumers turn to its grocery sales to combat inflation. Plus, BigCommerce deepens its relationship with buy now, pay later (BNPL) company Affirm, and payments solutions provider Cardknox integrates with end-to-end payment solution firm Verifone.
Consumers are getting more conservative thanks to inflation, scaling back spending on luxuries, and sticking to the basics. As the world’s largest grocery retailer, Walmart is seeing the effects of the shift from restaurants to supermarkets along with a move from more premium-priced food retailers and items to less expensive alternatives. But on a call to discuss the company’s second-quarter financial results, Walmart CEO Doug McMillon shared that, while this trend may have its advantages when it comes to market share, it comes with its drawbacks in terms of profit margins.
Open Software-as-a-Service (SaaS) eCommerce company BigCommerce has expanded its relationship with Affirm, offering its merchants access to Affirm’s Adaptive Checkout BNPL tool. BigCommerce’s platform can be used in B2B and B2C settings, and clients can show customers different payment options that reflect real-time underwriting decisions. The system gives customers the option to make payments every two weeks or once per month, on purchases ranging from $50 to $17,500.
Cardknox, a payment solutions provider for developers, is integrating with end-to-end payment solution company Verifone to help merchants stay on top of the latest consumer payment preferences for card-present transactions. The Cardknox integration with Verifone’s payment terminals M400 and the e285 helps meet the rising demand for cashless and contactless payment options. Software developers and independent software vendors are also slated to benefit from Cardknox’s plug-and-play payment integrations for a broad array of point-of-sale (POS) and eCommerce systems.
Supplier Success, which helps companies build supply chains that support diversity and social goals, has launched a strategic partnership with working capital provider C2FO. The arrangement has allowed C2FO to create a tailored offering dubbed the “Supplier Success Hub,” with the goal of helping emerging businesses build robust supply chains and control cash flows.
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