Walmart

Amazon, Walmart and Facebook are using point of sale credit, deliveries and in-app payments to outflank Paytm in India, honing services that they see as vital to shaping the global economy's recovery.

Former Walmart payments executive Reed Luhtanen has been named the new executive director of the U.S. Faster Payments Council, an organization created a year ago to guide American faster payments initiatives.

Growing recognition that coronavirus can survive on hard surfaces for up to 72 hours — making it riskier to use PIN pads and touchscreens at the point of sale — is causing merchants around the world to rethink payment technology, especially at supermarkets.

The company's plan had drawn strong criticism from bankers about Rakuten's potentially controlling an industrial loan company while engaging in its nonfinancial businesses.

On the same day the Federal Deposit Insurance Corp. said it will soon rule on two applications, the agency also proposed benchmarks for all firms that want to own industrial loan companies.

A decision by regulators on how to move forward with the controversial charter could have broad implications for fintech firms that want to enter the banking system.

Walmart Inc. is parting ways with grocery-delivery partner Skipcart, the latest defection from its network of logistics companies who often struggle to make ends meet schlepping cola and cantaloupes for the nation’s biggest food retailer.

The payments industry is a hotbed of innovation, and many of its larger players are eager to claim patents on new developments.

With Synchrony smarting over the loss of Walmart and Verizon facing heat from T-Mobile's payment app, a card partnership was a natural fit.

Last week, Indian regulators ordered an antitrust probe of Walmart and Amazon while Jeff Bezos and other Amazon execs traveled to New Delhi to tout a $1 billion investment to digitize local businesses. The message is U.S. investment is welcome, as long as U.S.-driven data mining is kept at bay.