Payments News


In Faddish China, Even Glorified Vending Machines Raise Billions

“Names from Alibaba Group Holding Ltd. and Tencent Holdings Ltd. to Walmart Inc. and Sequoia have poured more than $1.7 billion into startups such as Mr. Fresh and Xingbianli (Gorilla Convenience) that for now offer little more than tricked-out vending machines or kiosks…It’s a high-tech twist on the venerable vending machine, with the latest iterations hawking cooked food and strawberries. They’ll track purchases via facial and object recognition and a smartphone app.”