The $13.7 billion acquisition could have significant implications for swipe-fee revenue and other grocers' in-store branches. It also raises the question of whether the Seattle e-commerce goliath will soon set its sights on the financial services industry.
Regulatory restrictions on market entry can shield banks for only so long from problems like those faced by traditional retailers. But financial institutions can take these steps to stay competitive in the ever-digital world.
The Bokis wallet's new app is scheduled for broad release this summer. It's a rare success for collaborative wallets, as others have failed, such as the U.S.'s Softcard and CurrentC, the U.K.’s Weve, Canada’s suretap and Singapore’s SmartWallet.
Artificial intelligence is steadily making its way through the payments and financial services world. The technology's usefulness for fraud detection is clear, but there are other areas where AI can have an impact.
The U.S. Supreme Court ordered closer scrutiny of a New York law that bars merchants from imposing surcharges on credit card purchases, giving a group of retailers a partial victory by saying the measure might violate their free-speech rights.
The mobile point of sale vendor ShopKeep has purchased ChowBot, an online order-and-pay software tool for restaurants, with plans to broadly integrate the new feature into its services for small businesses.