Payments News » Amazon

Amazon’s New Multistory Warehouse Aims to Cut Delivery Times

September 10 2019

“Amazon.com Inc. has agreed to take space in a first-of-its-kind three-story warehouse, a new type of distribution center that could reduce delivery times in congested cities to hours rather than days. While common in densely-populated Asian and European cities, modern warehouses with multiple floors have been absent until recently in the U.S., where higher land and […]

Companies

Amazon Hit by Extensive Fraud With Hackers Siphoning Merchant Funds

May 8 2019

in
Amazon

“Amazon.com Inc. said it was hit by an “extensive” fraud, revealing that unidentified hackers were able to siphon funds from merchant accounts over six months last year. Amazon believes it was the victim of a “serious” online attack by hackers who broke into about 100 seller accounts and funneled cash from loans or sales […]

Companies

Amazon’s E-Commerce Adventure in China Proved Too Much of a Jungle

April 18 2019

“The company told sellers on Thursday that it will no longer operate its third-party online marketplace or provide seller services on its Chinese website, Amazon.cn, beginning July 18. As a result, domestic companies will no longer be able to sell products to Chinese consumers on its e-commerce platform.”

Companies

Bezos Says Third-party Amazon Sellers Are “Kicking Our Butt”

April 12 2019

in
Amazon

“t’s not often you see a CEO so sanguine about an ass whooping. “Something strange and remarkable has happened over the last 20 years,” Amazon’s Jeff Bezos said in his annual letter to shareholders . “Third-party sales have grown from 3% of the total to 58%. To put it bluntly: Third-party sellers are kicking our […]

Companies

Amazon Launches a Credit Card for the ‘Underbanked’ With Bad Credit

June 10 2019

“Amazon is finding a way to get its rewards credit card in the hands of more people. The e-commerce giant partnered with publicly traded bank Synchrony Financial to launch “Amazon Credit Builder” — a program that lends to shoppers with no credit history or bad credit, who would otherwise be exempt from Amazon’s loyalty cards.”

Companies

Amazon Prime Day Starts Monday And Is Shaping up To Be a Payments Bonanza

July 11 2019

in
Amazon

“Amazon Prime Day is set for next week, and by all accounts Amazon.com Inc.’s online and in-store shopping frenzy is likely to be a payments-palooza. The event, which despite its name is set to cover two full days—July 15 and 16—this year, will generate $5.8 billion in sales, with $3.6 billion, or 62%, of that […]

Companies

How Amazon’s Shipping Empire Is Challenging UPS and FedEx

September 5 2019

in
Amazon

“Amazon.com Inc. recent breakup with longtime shipping partner FedEx Corp. shows how far the e-commerce giant has come in creating its own delivery network. Over the years, Amazon has played down its ambitions. But as consumers flock to its site for everything from toilet paper to TVs, Amazon has quietly blanketed the nation with hundreds of […]

Companies

Amazon May Need to Raise Prices to Offset Latest Tariff Blow: BofA

September 4 2019

in
Amazon

“Amazon.com Inc will need to raise prices in the United States by about 2.1%-2.6% on average to offset the impact of fresh tariffs slapped by the Trump administration on various Chinese goods, Bank of America Merrill Lynch analysts estimated.”

Companies

Amazon Is Bringing a Cash-based Checkout Option, Amazon PayCode, to the U.S.

September 18 2019

“Amazon is making it easier for customers to pay with cash for their online purchases. The retailer today announced the U.S. arrival of Amazon PayCode , a new checkout option that will allow online shoppers to pay for Amazon.com purchases at one of 15,000 Western Union locations. Separately from this, Amazon said that its Amazon […]

Companies

Inside the Conflict at Walmart That’s Threatening Its High-stakes Race With Amazon

July 3 2019

“But it’s still far behind Amazon, and inside Walmart, tensions are rising. Multiple sources tell Recode that the company is projecting losses of more than $1 billion for its US e-commerce division this year, on revenue of between $21 billion and $22 billion. Walmart does not disclose these figures publicly and declined to comment.”