The five most important retail tech news stories of the week
It’s Friday, the week is nearly done, so let’s kick back and reflect on another eventful week for the retail technology space. Here's your briefing on the most important and interesting stories from the past five days.
1. Capital One pushes back against 'risky' buy now pay later space
Capital One has barred customers using its credit cards to clear buy now pay later debt.
The third largest US card firm with 62 million accounts, plus more in Canada and Britain, said it would no longer allow “transactions identified as point of sale loans charged on its credit cards, regardless of the point of sale lender”.
“These kinds of transactions can be risky for customers and the banks that serve them,” it added.
2. Asda wins RTIH bricks and mortar innovation award
Asda has emerged triumphant in the Bricks and Mortar Innovation category at the 2020 RTIH Innovation Awards.
3. JD.com scores a first as it accepts China's digital currency
Chinese e-commerce giant JD.com has become the first online platform to accept Beijing’s homegrown digital currency.
Its FinTech arm, JD Digits, will accept digital yuan as payment for some products on its online mall, as part of a giveaway of the token to citizens of Suzhou, near Shanghai.
4. UK retail a tale of two channels amid coronavirus lockdown
November saw the brakes put on the UK retail sales growth that had been seen over the previous three months, according to research from BRC and KPMG.
5. Co-op green lights first zero emission online delivery vehicles
Co-op started using its first electric vehicles for online home delivery this week as it aims to replace its fleet of fossil fuel powered vans by 2025.
The convenience retailer is kicking things off with stores in Hebden Bridge, Holmfirth and Hove, followed by Ryde, Isle of Wight and Whitby which will take delivery of electric vehicles early next year for groceries ordered through Co-op’s own online shop.
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