Mercator Advisory Group | January 04, 2022
Mercator Advisory Group released a report covering the credit cards issued for small businesses titled Small Business Credit Cards: Growth Opportunities in a Post-COVID World. The research explains current markets, reviews programs offered by top issuers, and suggests that issuers look at four current fintech models to revitalize their view of this rich market. With two thirds of the U.S. GDP driven by small businesses, there is a large audience to harvest. Program designs need to do more than just generate reward points; they need to provide the small business owner with tools to reduce costs, understand their spend, and prepare the small business for growth.
The research explains how fintechs are redefining the small business card space and what traditional issuers need to think about over the next three years.
"Fintech Buy Now, Pay Later should be a learning experience for all credit card issuers, You cannot keep doing the ‘same old thing’ or new players will disrupt your model. Small business credit cards are more than just reward generators. Issuers need to keep the product engaging with tools and value-added features.”
-Brian Riley, Director, Credit Advisory Service, at Mercator Advisory Group
Highlights of the research note include:
Small business sector description and characteristics
Card-by-card review of top issuer small business credit cards
Risks and Opportunities for small business credit cards
Fintechs in the small business credit card sector
Selected topics form the Mercator Advisory Group Small Business PaymentsInsights survey
This document contains 26 pages and 17 exhibits.
Companies mentioned in this research note include: American Airlines, American Express, Alaska Airlines, Apple, Bank of America, Barclaycard, Bento, Brex, Capital One, Chase, Citi, Costco, Delta Airlines, Discover, FIS, Fiserv, Goldman Sachs, Hyatt Hotels, Jet Blue, Kabbage, Lowes, Marriott, Mastercard, Pex, Southwest Airlines, TSYS, Tribal Credit, U.S. Bank, United Airlines, Visa, Wells Fargo, Wyndham Hotels
Members of Mercator Advisory Group's Credit Advisory Service have access to these reports as well as the upcoming research for the year ahead, presentations, analyst access, and other membership benefits.
About Mercator Advisory Group
Mercator Advisory Group is the leading independent research and advisory services firm exclusively focused on the payments and banking industries. We deliver pragmatic and timely research and advice designed to help our clients uncover the most lucrative opportunities to maximize revenue growth and contain costs. Our clients range from the world's largest payment issuers, acquirers, processors, merchants and associations to leading technology providers and investors.
CLOUD BASED POS
Reshyne | January 17, 2022
Reshyne (reshyne.com), a first-of-its-kind repair service management platform, launched to help jewelry and watch retailers of all sizes unlock new business opportunities and increase company revenue. The Reshyne solution empowers global corporate retailers, independent designers, and every business in between to revolutionize repairs with a high-octane platform designed to usher the jewelry and watch industry into the digital age.
The Reshyne platform streamlines every aspect of repairs, allowing retail companies to supercharge both the services they offer customers and the way they manage repairs through their business. With Reshyne, retailers can offer customers a fully branded experience, from browsing a menu of repair services to placing orders, printing out shipping labels, completing payment, and tracking progress in real time. At the same time, Reshyne unlocks full visibility into the entire repair organization, making it easy for retailers to manage vendors, and partners, streamline workflows, improve productivity, and increase revenue.
Complete customer experience: Customers browse a fully branded menu of services, place and pay for orders, request estimates, print shipping labels, and track order status.
End-to-end visibility for teams: Store owners, associates, and employees get a robust POS, assign repair work to in-house or third-party vendors, and manage workflows.
Enterprise & corporate management: Increase efficiency, improve productivity, cut costs, boost revenue, and manage relationships, all from within the platform.
Vendor accountability & communication: Vendors can provide pricing estimates and status updates, submit before and after photos, and invoice retailers for work completed.
Retailers can implement Reshyne without changing their vendors, suppliers, or partners; the solution simply makes it easier for jewelry and watch companies to do more of what they do best. For companies that already offer repairs, Reshyne increases customer loyalty and lifetime customer value. For jewelry and watch brands introducing repair services for the first time, Reshyne unlocks an entirely new revenue stream without the investment or overhead required to build an in-house repair department. Reshyne also offers fulfilment capabilities, completing and delivering fine jewelry repairs on your behalf from two state-of-the-art facilities in New York.
"Reshyne delivers much needed innovation to an industry that has been stuck in the dark ages for decades, Most jewelry and watch businesses are bogged down with unwieldy legacy systems and ineffective manual processes; some still use paper order forms. But contemporary consumers are increasingly digital. They expect and demand tech-enabled experiences from the brands they do business with. In 2020, global e-commerce sales totaled almost $4.3 trillion. By 2024, that number is expected to climb to nearly $6.4 trillion. The incredible expansion of e-commerce represents an existential threat for any retailer that has yet to meet consumers where they are: online in the digital world."
-Jason Yakubovich, founder and CEO of Reshyne.
MJJ Brilliant, the industry-leading parent company behind Reshyne, tested the platform internally on sister brand, Quick Jewelry Repairs, before launching it to the public. With over four decades of experience at the cutting edge of the industry, MJJ Brilliant was able to put Reshyne through its paces, refining and evolving the platform's functionality in order to develop this first-of-its-kind digital transformation tool for jewelry and watch companies.
Reshyne is a first-of-its-kind service management technology platform that helps retailers make the most of repairs. The software's fully customizable customer-facing storefronts, dynamic operations tools, and robust revenue dashboards unlock sustained revenue growth for jewelry and watch retailers of all sizes. MJJ Brilliant, Reshyne's parent company, infuses the platform with over 40 years of proven leadership and a mission to revolutionize the jewelry and watch industry. Reshyne is a private company headquartered in Long Island City, New York.
indiaretailing | April 20, 2020
Walmart is committed to helping the fellow Americans seeking work, while serving customers during this unprecedented time. The brand recently committed to hiring more than 150,000 new associates by the end of May. Since then, it has had over 1 million applicants, hiring an average of 5,000 people per day. Walmart reached its goal in less than a month – more than six weeks ahead of schedule and announced a new commitment to hire an additional 50,000 associates.
Agilysys | December 18, 2021
Agilysys, Inc., a leading provider of next generation SaaS software solutions, announced it has entered into a definitive agreement to acquire ResortSuite, a Canada-based fully integrated property management solution provider focused on the complex multi-amenity and resort market. This acquisition creates the opportunity to bring next generation SaaS solutions to ResortSuite customers who have been served well by a trusted partner for more than twenty years. With unparalleled experience and commitment to the hospitality industry and innovation driven roadmaps and expertise, this combination will enable revenue synergies and delivery of world class integrated hotel property management and contactless capabilities to the global hospitality industry.
Only a handful of technology providers have the experience and expertise to offer robust, comprehensive and end-to-end integrated property management solutions which can help run complex resort environments and enable enjoyable guest experiences. This acquisition combines two such providers creating the most compelling hospitality technology unit serving the resort market. Frank Pitsikalis (CEO & Founder of ResortSuite) and his talented team have built a company with deep understanding of hospitality and a long history of providing world class service to some of the most well-known resorts and spas across several regions, including the U.S., U.K. and Canada. Thanks to our successful recent product modernization efforts, ResortSuite customers will enjoy numerous modern technology options including migrating to the cloud.”
Ramesh Srinivasan, President & CEO of Agilysys
The transaction is expected to close the beginning of January 2022 for approximately 25 million USD in an all-cash deal subject to customary closing conditions. Further details of the transaction will be discussed during the upcoming Agilysys fiscal 2022 third quarter earnings call towards the end of January 2022.
CIBC Capital Markets Inc. acted as exclusive financial advisor to ResortSuite.
ResortSuite provides a fully integrated suite of hospitality solutions for the full service and resort market such as property management, spa, golf, sales & catering, retail, food and beverage, ski and concierge applications to manage properties with multiple amenities. ResortSuite operates out of headquarters in Toronto, Ontario and services multiple geographic areas, including Canada, the United States, the United Kingdom and the Caribbean.
Agilysys has been a leader in hospitality software for more than 40 years, delivering innovative cloud-native SaaS and on-premise guest-centric technology solutions for gaming, hotels, resorts and cruise, corporate foodservice management, restaurants, universities, healthcare, and sports and entertainment. Agilysys offers the most comprehensive software solutions in the industry, including point-of-sale (POS), property management (PMS), inventory and procurement, payments, and related applications, to manage the entire guest journey. Agilysys is known for its leadership in hospitality, its broad product offerings and its customer-centric service. During recent years, Agilysys has made major investments in R&D and has successfully modernized virtually all their longstanding trusted software solutions. Some of the largest hospitality companies around the world use Agilysys solutions to help improve guest loyalty, drive revenue growth and increase operational efficiencies. Agilysys operates across the Americas, Europe, the Middle East, Africa, Asia-Pacific, and India with headquarters located in Alpharetta, GA.