Ecommerce

Neobank Volt has begun onboarding the first customers on its waitlist, 11 months after receiving its licence to operate as a bank.  Now in beta, the challenger bank is offering 2.15 per cent interest on savings accounts, with a wider public launch planned for 2020.  Listen: Our open banking webinar

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Buy now pay later platform Openpay dropped 17 per cent on its first day listed on the ASX.  According to the Sydney Morning Herald, the stock fell from the issue price of $1.60 to $1.35 half an hour after listing. It finished on Monday down 17.5 per cent at $1.32.

Coles

Supermarket giant Coles has adopted supply chain management and core finance and procurement platforms from SAP, and outlined its future investments in a global trade platform.  As part of its wider ongoing digital transformation program, the new platforms are designed to improve product availability for customers while enabling efficiencies in

The Commonwealth Bank of Australia has launched ‘CommBank Rewards’, a program of personalised cashback offers powered by its machine learning hub.  The new in-app feature will give eligible customers cash back when they use their CBA credit or debit Mastercard at merchants including Coles, Caltex, Myer, JB Hi-Fi and Menulog.

Consumers are constantly bombarded with products and deals through emails, push notifications and social media. This can be overwhelming, which is problematic for brands. A recent Magento study, Something for Something, Brand Utility: Listening To Customer Feedback, Responding With Better Experiences argued that to counteract this saturation brands should listen to customers

Moula, an Australian non-bank business lender, has secured $20 million Series D private funding to continue fuelling expansion. The round was led by Escala Partners with ongoing support from existing shareholders Liberty Financial and Acorn Capital. Moula has experienced strong growth over the past five years, processing over 20,000 business

The holiday season is the optimal selling time for merchants — the season accounts for half of all annual sales and shopping events like Black Friday provide even more engagement opportunities. The Magento ebook, The Journey of a Gift, discusses how merchants need to consider all stages of a product’s journey to

Customers are demanding greater levels of contextualisation of products and services. Retail CIOs can leverage intelligence to capture deeper insights, anticipate customer needs and proactively deliver across every touchpoint. Retailers must reinforce their store’s position as an integral part of delivering unified commerce. Gartner’s recent research Predicts 2020: Consumers Determine

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Mobile Points of Sale (mPOS) transaction values will exceed $1.9 trillion by 2024, up from $850 billion in 2019, according to forecasts from Juniper Research. This growth will be driven by service adoption from new business users, including pop-up stores and street vendors, for whom the acceptance of card payments

November sales delivered strong growth for online retailers and payment providers, as consumers increasingly use their smartphones to shop. Following Black Friday Ruslan Kogan, CEO of Kogan said in 2019 shoppers spent $9.8 million in 24 hours on the site he founded, compared to $5.4 million in the previous year.