Payments News » Amazon

Amazon Exec Tells Employees That Go Stores Will Accept Cash to Address ‘Discrimination’ Concerns

April 11 2019

“Kessel highlighted some of the new payment methods Amazon has recently added to its site, including a pilot that accepts government subsidized SNAP benefits and a new program called Amazon Cash, which lets users add cash to their digital accounts by bringing money to a local store like 7-Eleven or CVS.”

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Amazon to Shut All U.S. Pop-Up Stores As It Rethinks Physical Retail Strategy

March 7 2019

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Amazon

““After much review, we came to the decision to discontinue our pop-up kiosk program,” an Amazon spokeswoman confirmed to The Wall Street Journal. The closings are expected by the end of next month, some employees at Amazon pop-up stores said. These shops typically occupy a few hundred square feet of space and showcase devices like […]

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Exclusive: Mexican central bank in talks with Amazon about new…

March 6 2019

“It would be the first time the world’s largest online retailer offers such scanning technology in Mexico and could eventually open a new customer base in a nation where more than half of the population has no bank account. The payment system, known as CoDi, is being built by central bank Banco de México, known as […]

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Amazon ditches Dash Buttons as Mobile and Voice Commerce Take Over

March 1 2019

“Amazon will stop selling the buttons from the end of February and, while those that have them can continue to use them, anyone wanting to buy one now is out of luck. Amazon said: “We’ve seen customers increasingly using programs like Alexa Shopping, which provides a hands free shopping experience, and Subscribe & Save, which lets […]

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

April 12 2019

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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 […]

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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.”

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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.”

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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.”

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Amazon Hit by Extensive Fraud With Hackers Siphoning Merchant Funds

May 8 2019

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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 […]

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

July 11 2019

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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 […]