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PayPal announces over two million US retailers will begin accepting Venmo payments starting this week

“Over the coming months Venmo users will also be able to transfer money instantly from Venmo to their bank accounts for a $0.25 fee per transfer” writes Anna Irrera for reuters.com. Venmo users will be able to use their app balance or linked cards and bank account to shop on the mobile sites of almost all merchants that accept payments with PayPal, including retailers such as Foot Locker, Lululemon Athletica Inc (LULU.O) and Forever 21. Source: reuters.com Share This:

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Venmo users can now shop online anywhere PayPal is accepted in the U.S.

“PayPal this morning announced its mobile payments service Venmo is now available at over 2 million online U.S retailers, allowing Venmo users to shop on the mobile web at almost everywhere PayPal is accepted today” writes Minutes Ago Katie for techcrunch.com. As with PayPal, eligible purchases bought using Venmo online will qualify for purchase protection, too.This will make it easier for Venmo users to split their online purchases with friends, as the store, transaction date, and amount will all be available in the Venmo app.Users will be invited to activate…

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Venmo now lets you pay online at millions of U.S. retailers where PayPal is accepted

“Furthermore, Ready noted that PayPal is expanding Venmo on the Braintree platform with support for mobile web payments, in addition to those made in-app” writes Paul Sawers for venturebeat.com. By focusing on companies already offering PayPal through their websites, this allows Venmo to scale much more quickly as a payment platform. Source: venturebeat.com Share This:

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Buy a Sofa Online? Wayfair Is Counting on It

“Most major furniture retailers will change at least $130 to deliver a couch” writes Julie Creswell for nytimes.com. A sofa from another company may start at $1,000, but Wayfair sells its sofas at an average price of $600, a spokeswoman said.But the big question hovering over Wayfair is whether the company can ever make money by delivering bulk furniture virtually for free.Wayfair argues that the margins of its competitors, like Restoration Hardware or Williams-Sonoma, are higher because they are building extra profit into their pricing. Source: nytimes.com Share This:

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A new puzzle for retailers: Dealing with in-store returns on online orders

“After Nordstrom acquired the company in 2011, it began allowing customers to return HauteLook items to Nordstrom Rack stores” reports washingtonpost.com. The arrangement turned out to drive traffic to the company’s locations — by 2014, returns of online purchases accounted for more than 1 million annual trips to Nordstrom Rack stores.For clothing and shoes bought online, the return rate can be as high as 40 percent. Source: washingtonpost.com Share This:

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Amazon plans 120,000 seasonal hires — flat from a year ago, but masking retailer’s growth

“The retail giant plans to hire roughly the same number of temporary warehouse employees for the holiday rush as last year” writes Seattle Times Business for seattletimes.com. Last year the company said it hired about 3,000 seasonal workers in Washington.Amazon employs 125,000 full-time workers in its U.S. warehouse network, 38 percent more than the company reported a year ago. Source: seattletimes.com Share This:

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Booker profit up even as tobacco sales decline

“Non-tobacco sales to retailers rose 8.4%, but tobacco sales declined primarily due to changes in tobacco legislation” writes Maryam Cockar for marketwatch.com. Booker Group PLC (BOK.LN) on Thursday reported an 8.6% rise in pretax profit for the first half of fiscal 2018 as sales to retailers grew.Booker said that like-for-like sales to retailers grew 0.6% and to caterers it increased 8.1%.For the six months ended Sept. 8, the food wholesaler made a profit of 88 million pounds ($116.7 million) compared with GBP81 million for the same period a year earlier. Source:…

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Tim Cook Thinks Retailers Will Find Augmented Reality as Key as Having a Website

“Apple CEO Tim Cook believes there isn’t any sector or industry that will be untouched by augmented reality going forward.In a recent interview with Vogue , Cook said he believes the technology will transform everything from fashion runway shows to shopping.Apple’s chief envisions a world where customers will essentially be able to “point and buy” products” writes Am Pdt for macrumors.com. If your friend is wearing a pair of shoes you like, for example, you could point your iPhone at them, and a shopping app could instantly bring up information…

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