Merchant

Wells Fargo will lay off 1,000 workers primarily from its mortgage unit in the first major round of a previously announced plan to cut the bank's workforce by as much as 10% over the next three years.

Standard Cognition raised $40 million in a Series A funding round among five different venture capitalists to expand its cashierless checkout footprint.

A federal prohibition on marijuana has locked U.S. banks out of an industry surging toward $75 billion in sales. Who's catching that money? A small number of local credit unions, and the women who run their operations.

Amazon Go’s cashierless checkout model has made its impact felt across the board, motivating large chains like Walmart and Kroger's to respond. But the biggest threat it poses is to convenience and fast-food brands like 7-Eleven.

Uber Technologies Inc. is rolling out a new rewards program starting Wednesday, offering its most loyal users cash back on rides, priority airport pickups and free phone support.

JPMorgan Chase & Co. has committed to roll out contactless chip cards for all new and replacement payment cards, which will likely spark a mass movement, if the experience of other global markets is any guide.

Given Chinese consumers’ appetite for U.S. and foreign brands, retail companies planning to participate in this year’s holiday sales in China should consider capitalizing on China’s huge holiday sales by adopting mobile pay and influencer marketing and by emphasizing quality and authenticity, according to Franklin Chu, managing director for Azoya USA.

The Madrid-based personal financial management provider Fintonic has partnered with Amazon to offer its Spanish customers a zero percent installment loan for purchases made on Amazon.es.

Amazon’s transit-friendly posture should provide momentum for digital ticketing and other subway improvements in Queens, N.Y., and northern Virginia — and if recent history is any indication, Amazon may take an active role in improving that infrastructure.

The payment terminal maker Poynt, a rival to Square and other hardware providers with customized software applications for merchants, has raised $100 million in a Series C funding round with strategic partners Elavon and National Australia Bank.