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Companies

PayPal and Venmo to Move Into In-store Payments ‘next year’

“PayPal is to begin a major new push into in-store payments next year, under both the PayPal and Venmo brands and using both NFC and QR codes, CEO Dan Schulman has told Axios . PAYPAL CEO: Dan Schulman Axios asked Schulman if it is important for PayPal to have a place in the physical retail store. […]
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Companies

Square’s Cleanup Still Leaves Questions

“Fast transaction growth isn’t everything to Square, which is generating increasing revenue from lending, subscription services and its consumer Cash App. But like many payments businesses, the company’s take rate, or how much of each transaction it takes as revenue, is gently declining, due in part to doing business with larger merchants that drive tougher […]
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Companies

Amazon Will Launch New Grocery Store As Alternative to Whole Foods

“Amazon on Monday said it plans to open its first new brand of grocery store in California next year, as it amps up its ambitious push to become a bigger name in food. “Amazon is opening a grocery store in Woodland Hills in 2020,” an Amazon spokesperson confirmed to CNET on Monday morning, soon after […]
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Companies

China’s Alipay Sets 5-year Goal to Serve 10M SMEs in Europe

“Alipay, the digital wallet from Ant Financial Services Group, announced a new target to support 10 million small and medium-sized businesses in Europe over the next five years, which will be able to serve more than 2 billion potential consumers traveling there from across the globe. Alipay announced the agreement during its Alipay Partners Global […]
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Companies

Facebook Pay Launches on Facebook and Messenger, Instagram and WhatsApp to Follow

“Facebook has unveiled a unified payments service designed to provide “a convenient, secure and consistent payment experience across Facebook, Messenger, Instagram and WhatsApp”. “People already use payments across our apps to shop, donate to causes and send money to each other,” the company says. “Facebook Pay will make these transactions easier while continuing to ensure […]
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Companies

Alibaba’s Singles’ Day Sales Top $38 Billion

“The Chinese e-commerce giant said its platforms sold goods worth 268 billion yuan, or $38.4 billion today, easily exceeding last year’s record $30.7 billion haul . Electronics gadgets and fashion items were among the most sold goods in the 11th edition of the Singles’ Day annual event, company executives said in an interview.”
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Companies

Walmart Posts 41% Online Sales Growth In Q3 As Grocery Investments Pay Off – Retail TouchPoints

“Walmart is headed into the holidays with a jolly outlook after posting Q3 online sales growth of 41% and a better-than-expected 3.2% growth rate in U.S. same-store sales. The company attributed the online sales growth to ongoing expansion of its online grocery services. Walmart as a whole now generates 56% of its revenue from food and grocery sales.”