Today In Payments: UPS Piloting Same-Day Delivery; Former CFTC Chair Says Stablecoin Regulatory Framework Needed
In today’s top news, UPS is testing a same-day delivery model, and a former chair of the Commodity Futures Trading Commission called for increased stablecoin regulations. Plus, Plaid has partered with Capital One for its open finance platform.
UPS is launching a pilot program to explore how a same-day delivery model could work for the company, which is among the biggest global shipping and logistics providers worldwide. UPS rival FedEx already offers same-day delivery in limited locations.
A regulatory framework is needed for stablecoins like tether and the trading acitivies from the companies that release them, former Commodity Futures Trading Commission Chairman (CFTC) Timothy Massad said in an interview with CNBC. Investors would also benefit from enhanced transparency, Massad said.
Plaid announced a new open finance partnership with Capital One to ensure the financial institution’s customers can share financial information securely with the thousands of apps powered by Plaid. The FinTech said it has begun or completed data access agreements with most major FIs in the country.
The National Retail Federation (NRF) has revised its annual forecast for 2021, now saying retail sales are likely to grow between 10.5 percent and 13.5 percent — as opposed to its February forecast of a 6.5 percent increase. At this growth rate, sales could total over $4.44 trillion this year.
Loyalty programs can drive 139 million U.S. consumers to shop with local businesses on Main Street USA — but not just any program will do. In the Making Loyalty Work For Small Businesses: United States Edition, PYMNTS surveys 1,247 consumers to unpack how financial institutions and Main Street shops can partner with banks on digital loyalty offerings to increase their business.
No flash in the pan, it’s taken more than a decade for Marqeta to gain scale in digital card issuance (and move beyond the plastic) and debut on the public markets. CEO Jason Gardner reflects on the “aha” moment that validated product/market fit and tells Karen Webster what’s next.
Social media stock-inspired trading is hitting new heights. Welcome to the (continued) age of the meme stock. Here’s how to pick the next spate of meme stock darlings.