Financial/Banking

Samsung Pay is expanding its breadth.   Besides launching in Sweden and the United Arab Emirates (UAE), the digital wallet also kicked off an early access program in Hong Kong and Switzerland. The launches in UAE and Sweden are Samsung Pay’s first introduction in the Middle East and the Nordics respectively, Samsung said.   Samsung Pay users in Sweden and the UAE can also integrate loyalty and membership cards within their mobile wallets.  

Is Party City exploring a return to private ownership?   The retailer is considering a sale after being approached by a private equity firm about a leveraged buyout, Reuters reported. Buyout firm Thomas H. Lee Partners LP, which owns 55% of Party City, took the company public in 2015.     

Apple may be the next company to provide a money-transfer service.   Sources said Apple has recently held discussions with payments industry partners about introducing a program that would allow iPhone owners to send money to each other digitally, according to ReCode.   If Apple’s plan pans out, its service will rival offerings from big U.S. banks, as well as PayPal, its millennial-popular subsidiary Venmo, and Square Cash, the report said.  

The National Retail Federation brought added attention to its stance on debit card swipe fee reform at a Congressional hearing on Capitol Hill.    According to the NRF, reform has saved merchants and consumers more than $40 billion -- which is why the association is asking that it be protected.  

A Chicago-based fund manager has acquired BeachWalk on Highway 101 in Solana Beach, California, for $33.25 million.   "True coastal retail projects like BeachWalk seldom come to market,” said John Read of CBRE’s National Retail Partners West unit, which represented the seller, the Orange County-based Muller Company. Solana Beach is north of San Diego.  

Walmart is making its cheaper and faster for its customers to send money.   The retailer is adding new “rollback” fees to its Walmart2Walmart money transfer program. The new fees, beginning Wednesday, April 24, save customers between 20% and 90% on cash transfers versus the leading competitor, according to Walmart.  For example, shoppers sending $250 will pay $8 through the new program, compared to fees that could range between $12.50 and $24 on Western Union, the retailer reported.  

In an action that reflects its strong performance, Costco Wholesale Corp. is about to return some $3.1 billion to investors.    The retailer announced a special cash dividend on Costco common stock of $7.00 per share, payable May 26, 2017, to shareholders. The dividend is in addition to a 5 cent increase of the company’s quarterly cash dividend to 50 cents a share.  

Deckers Brands announced on Tuesday is it reviewing strategic alternatives, including a possible sale.   The decision comes as the company said it has made “significant progress” in streamlining its cost structure, optimizing its retail store fleet, and realigning its brands to improve profitability. Deckers portfolio includes the popular footwear brands Ugg and Teva.