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Name game
Amazon is reportedly adjusting its brick-and-mortar branding as it works on the right mix of emerging checkout technology and store design.
The e-commerce giant is closing one of its Amazon Go Grocery locations near Seattle and renaming the other Amazon Fresh, reports
The renamed Amazon Go Grocery store will retain both checkout-free and shopping cart technology, but most of the Amazon Fresh stores do not use the Amazon Go model, according to GeekWire. Amazon is also reportedly planning to use its Go technology in sections of
New rule, same as the old
Regulators in China have weighed in on the legality of crypto services, largely by referencing earlier bans from 2013 and 2017.
The National Internet Finance Association of China, the China Banking Association and the Clearing Association of China said financial and payment companies cannot provide crypto services and initial coin offerings are illegal, reports
The regulators are concerned about the recent jump in cryptocurrency prices, which they contend encourages speculative trading.
Commercial break
Buy now/pay later firm Klarna has launched an ad campaign in the U.K. designed to draw attention to the difference between point-of-sale credit and credit cards.
Called #WhyPayInterest, the spots will run in print, web and social media, reports
The campaign comes as Klarna and other buy now/pay later firms face
In the pipeline
The hackers who attacked the Colonial Pipeline received about $90 million in bitcoin ransom payments over the past year, mostly not associated with the attack.
DarkSide used what's called "ransomware as a service," or selling hacking tools to other groups, reports
DarkSide, which shut down late last week, also collected a $5 million ransom from Colonial.
From the web
TECHCRUNCH | Wednesday, May 19, 2021
Walmart-backed Indian payments services firm PhonePe is in advanced stages of talks to acquire Samsung-backed Indus OS, a startup that operates an eponymous third-party Android app store, a source familiar with the matter told TechCrunch.
ENGADGET | Tuesday, May 18, 2021
In Photos, for example, Google has added a new "Search inside screenshot" Lens prompt. So say you save a photo of Steph Curry, Google Lens will try to find products that match the ones pictured in that image.
THE WALL STREET JOURNAL | Tuesday, May 18, 2021
Government checks boost spending in U.S. but e-commerce sales slow; CEO sees ‘pent up demand’
More from PaymentsSource
U.K. and EU regulations enable cards that provide digital-first features for funds kept in a different bank's account.
The concept amplifies spending visibility from the center of the business way out to its edges, creating more transparency.
DMG Blockchain is using hydro power to mine bitcoin. It's part of a movement to support crypto without straining local power grids or polluting the environment.
Companies like CanPay fill the void today, as more states open up to legalization and more consumers want alternatives to cash. And as it turns out, there's a lot of innovation — like digital payments and curbside pickup — that can happen even when cannabis is still outlawed on a national scale.
Following successful U.S. launches, Mastercard’s True Name feature for transgender and nonbinary users is coming to Europe through the challenger bank bunq.
DailyPay has raised $500 million and is adding Carrick Capital Partners to its board of directors as it seeks to expand beyond earned wage access.
Financial services firms and card issuers historically shied away from allowing their data to be off the premises and in the cloud. That started shifting a bit before the pandemic as competitive pressures grew and the scalability, cost savings and agility benefits of cloud became clear.
HSBC has extended its instant cross-border payments network to small and midsize businesses through a digital wallet built for storing and spending foreign currency.
As contactless payments skyrocket, the chance for fraud gets larger, says ClearSales's Rafael Lourenco.
Cryptocurrencies provide a streamlined way for content creators on Twitter, Twitch, YouTube and other platforms to accept donations directly from fans.
Businesses are struggling with liquidity because of slow payments, and fintechs are rushing in with alternatives for fast access to cash. ABN Amro is responding to this competitive pressure by taking a direct role in moving funds between business clients.
American Express has created a path for PayPal to immediately accept digital versions of consumer credit cards as soon as the cards are approved.
Pine Labs has raised $285 million in its latest funding round, including participation from Singapore’s sovereign fund Temasek, to continue its geographic and product expansion.
Ride-hailing and payments giant Gojek agreed to combine with e-commerce pioneer PT Tokopedia to create the largest internet company in Indonesia, before seeking a stock-market debut at home and in the U.S.
Commerce enablement has become an industry-agnostic part of payments jargon, but what exactly does it mean?
The U.S. gaming industry is a highly regulated, multi-billion leisure sector that holds significant near-term opportunities for banks, payment processors and mobile app developers as the country reopens and more states approve or expand gambling.
MagicCube's software that converts Android devices into mobile point-of-sale terminals will be deployed in the U.K. and Ireland through a partnership with payments provider Dojo.
Even before the pandemic, almost half of SMB customers were being turned away by their own banks for a small business loan. Enter COVID-19, and banks and credit unions are still not keeping up with the surging demand for capital, says LendingFront's Jorge Sun.
Stripe has upgraded its identity technology several times during its expansion, including its Friday acquisition of Bouncer, a firm that mitigates fraud during online transactions.
The payment company unveiled the new tools Friday at its developer conference, Square Unboxed. Snippets API, which is the first API that Square put on top of its Square Online platform, allows merchants to create online experiences such as digital content.
The Federal Reserve Bank of Atlanta has created a cross-industry group to bridge the gaps created between financial innovations and the underbanked.
Buy now/pay later not only is a way to reach new consumers, it can also increase sales conversions for retailers.
This year's honorees are women under 40 who have demonstrated a strong talent for leadership and an expertise in their respective fields. They also took on crucial responsibilities to help their organizations navigate the complexities of the pandemic, and set their companies on a path for continued growth.
