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Consumers like Amazon Go: Amazon's no checkout concept store, Amazon Go, has had some technology challenges, but it may not have a problem attracting customers when it opens to the general public. New research from ChargeItSpot found 55% of consumers would shop at an online retailer's brick and mortar store, with ChargeItSpot asking about Amazon Go as a specific example. While 29% said they would "definitely" shop at such as store, only 12% said they would "definitely not" shop at an online retailer's offline store. Millennials were the top group, with 61% saying they would likely shop at an e-tailer's store. The most common reason for shopping at an e-tailer's store is convenience at 42%, technology at 20%, lower prices at 13%, curiousity at 10% and curbside pickup at 3%.
Employees stand outside the new Amazon Go grocery store in Seattle, Washington, U.S., on Tuesday, Dec. 6, 2016. Amazon.com Inc. unveiled technology that will let shoppers grab groceries without having to scan and pay for them -- in one stroke eliminating the checkout line. Photographer: David Ryder/Bloomberg
David Ryder/Bloomberg
Canadian shortlist: Payments Canada has selected CGI, SIA and Vocalink to battle it out to supply procurement services for Lynx, the country's new core clearing and settlement system. The three companies will engage in a "competitive dialogue" that includes feedback on requirements, proof-of-concept, alternative design and testing over the next few months. Vocalink is a U.K.-based company that has experience with the U.K.'s migration to faster payments, while SIA is located in Italy and CGI is a local Canadian technology company. The core project is part of a plan to rebuild Canada's payments infrastructure over the course of several years to handle digital commerce and real-time processing.
Chipotle adds breach to its woes: Chipotle's already reeling from public health concerns, and it's now also dealing with a data breach. Chipotle reports spotting unauthorized activity on its payment processing network between late March and mid-April, adding it "believes" it has stopped the unauthorized activity. It's still investigating the breach and did not provide further details other than to state it has added more security and is working with internet security companies, law enforcement and its payments processor, which it did not identify. The breach follows a similar incident at quick service rival Arby's, which reported a breach that impacted more than 350,000 consumers about two months ago.
Should central banks ease access for fintechs?: The influence of nonbanks such as PayPal and WeChat should lead central banks to "reassess" access policies, according to Hiroshi Nakaso, Bank of Japan's deputy governor. Finextra reports Nakaso said the composition of the payments market is rapidly changing in the "age of fintech," and the central bank payment and settlement model is entering a new phase. Some central banks are already considering access, including the Bank of England, which last year decided to allow non-bank payment service providers to hold accounts so they can compete with traditional banks, the technology wire reported. Nakaso also said digital currencies could partially replace paper bank notes to bolster efficiency.
Smartphones Catching Up To PCs For Online Purchasing MediaPost • Chuck Martin There's no stopping mobile commerce. Way back in 2015, desktop and laptop purchasing dominated online purchasing. Not so today. At the end of 2015, 73% of PC users used that device to buy online compared to 46% who bought by smartphone, according...
Developing markets could lift UnionPay Business Insider • Jaime Toplin UnionPay, China’s state-run card network with a near monopoly over the country’s payment card ecosystem, is eyeing developing markets as it looks to expand...
A radical finance firm has launched an app that'll show you the impact of all of your purchases Business Insider • Frank Chaparro Aspiration, a financial services firm founded on the radical idea that clients should pay what they think is fair, wants to help its customer keep track of the impact of their purchases. The firm announced April 26 it is equipping its checking-account...
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Europe's data-sharing regs are a strong magnet for tech investment Europe's Payment Services Directive (PSD2) has almost everything a technology vendor would want. It affects an entire continent, involves sweeping new data requirements and a substantial IT revamp for large financial institutions.
PayByPhone to support Apple Pay in U.K. PayByPhone will add Apple Pay as a payment option for U.K. drivers later this year, as competition in the fast-growing market for mobile payment apps intensifies.
Walmart beefs up Bluebird with money transfers, lowers Walmart2Walmart rates Walmart adjusted two of its long-standing, in-house offerings this week, saying it was lowering the rates for its domestic Walmart2Walmart money transfer service and adding a digital money transfer service with Bluebird2Walmart.
House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
Atlanta-based CoastalSouth's initial public offering prices at $21.50 a share; Valley National Bancorp announces Lyndsey Sloan will succeed Gary Michael as general counsel; Webster Financial Corporation taps a new chief risk officer and appoints a new board member; and more in this week's banking news roundup.
Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
