Payments News

On The Web

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Companies

Amazon Says More Than a Million U.S. Small Businesses Sell on Its Site

“The Seattle-based retailer has previously said that it had more than two million total third-party sellers world-wide, but hadn’t given a breakdown in the U.S. In its release on Thursday, it also listed the number of smaller merchants by state, saying California had the most with more than 175,000, followed by New York with more […]
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Companies

Amazon Offers Retailers Discounts to Adopt Payment System

“The move shows Amazon is willing to sacrifice the profitability of its payments system to spread its use. Swipe fees are a $90 billion-a-year business for lenders such as JPMorgan Chase & Co. and Citigroup Inc., networks including Visa Inc. and Mastercard Inc., and payment processors like First Data Corp. and Stripe Inc., which pocket a fraction of every sale when […]
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Companies

Amazon Go Targets Chicago, San Francisco For New Stores

“Amazon Go is headed for Chicago and San Francisco. The retailer, which opened its first cashierless store concept to the public in Seattle in January, is seeking store managers in both cities, according to recent job postings on Amazon’s website. In response to an inquiry, a spokesperson confirmed that the company was planning to open stores in […]
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Companies

Amazon Backs Indian Startup To Replace Cash With Contactless Payments

“The Seattle, U.S.-based retailer led an investment of $6.5 million (around Rs 43.7 crore) in digital payments startup ToneTag, infusing nearly Rs 32.3 crore. Mastercard, Manipal Global Education Chairman Mohandas Pai’s investment arm 3one4 Capital and Elevate Innovation Partners also participated in the round, according to filings with the Registrar of Companies that were reviewed […]
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Companies

Amazon Prime Day U.S. Sales Bigger Than Last Year, Despite Site Issues

“Despite the massive glitches that prevented online shoppers from being able to browse and buy from Amazon’s Prime Day sale yesterday, the retailer is this morning claiming its Prime Day sales in the U.S. are “bigger than ever,” and grew faster than last year’s Prime Day within the first ten hours of the annual sales event. In […]
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Companies

A New Rivalry Brews As Flipkart, Amazon Cut Google Ad Spends

“Google’s e-commerce push and the rising importance of Flipkart and Amazon in digital ads are the latest examples of how intertwined the tech business has become and how internet firms are increasingly encroaching on each other’s turf. A few years ago, it was unthinkable that Google would enter e-commerce or that Amazon could ever threaten […]
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On The Wires

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Companies

Amazon Introduces First-Ever Small Business Impact Report – Analysis Reveals New Information about the More Than One Million U.S.-Based Small and Medium-Sized Businesses Selling on Amazon

“Today, Amazon introduced the Small Business Impact Report highlighting new details about the millions of small and medium-sized businesses that have chosen to grow their business on Amazon. Like the larger U.S. economy, small and medium-businesses are the backbone of Amazon’s stores, providing customers with millions of unique products – from handmade artisanal products to electronics they invented […]
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