Payments News

On The Web

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Providers

Pandemic Hastens Shift to Asset-Light Economy

“Value is increasingly derived from digital platforms, software and other intangible investments rather than physical assets and traditional relationships. That trend, long evident in the growth of big-tech platforms such as Google and Facebook Inc. and Amazon.com Inc., has intensified this year as the pandemic shifts interactions from in-person to virtual.”
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Domains

Six People Indicted in Amazon Marketplace Bribery Scheme to Help Third-Party Sellers

“Six people have been indicted by a grand jury in Washington state on charges they bribed Amazon employees to manipulate third-party seller listings on the e-commerce site, including listings for defective or dangerous products, authorities said . Starting in 2017, the people, including two former Amazon employees, paid more than $100,000 to have listings of […]
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Providers

Fiverr Business Helps Teams Manage Freelance Projects

“Freelance marketplace Fiverr launched a new service today designed to help teams at larger companies manage their work with freelancers. CEO Micha Kaufman told me via email that Fiverr had already begun working with larger clients, but that Fiverr Business is better-designed to meet their needs.”
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Providers

Money Out of Nowhere: How Internet Marketplaces Unlock Economic Wealth

“Fortunately, the rise of the Internet, and specifically Internet marketplace models, act as accelerants to the productivity benefits of the division of labour AND comparative advantage by reducing information asymmetry and increasing the likelihood of a perfect match with regard to the exchange of goods or services. In his 2005 book, The World Is Flat, Thomas […]
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Providers

Smart marketplaces bridge the implicit and complex

“The latest species is the mobile, on-demand marketplace. Uber is the archetype — enabled by location technologies, increased mobile user density, flexible labor and behind-the-scenes supply-facing tools that bridge atoms to bits: scheduling, direct deposits and earnings dashboards. The next evolution in marketplace businesses will be substantial. Enabled by sensor technologies and AI, marketplaces will be […]
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Companies

Walmart to acquire Mexico & Chile-focused grocery delivery service Cornershop for $225M

“Walmart  is ramping up its grocery delivery business on the international stage with today’s announcement that it has acquired the crowdsourced, on-demand delivery marketplace Cornershop for $225 million. The rapidly growing service offers on-demand delivery from supermarkets, pharmacies and specialty food retailers in Mexico and Chile, which will continue following the deal’s close, Walmart says.”

On The Wires

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Deals

LendingClub Announces Acquisition Of Radius Bank

“LendingClub Corporation, America’s largest online lending marketplace connecting borrowers and investors, today announced that it has signed a definitive agreement to acquire Radius Bancorp, and its wholly owned subsidiary Radius Bank, (together “Radius”) recently voted the nation’s best online bank in a cash and stock transaction valued at $185 million. Combining Radius and LendingClub will create a digitally […]
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Providers

Yapstone Announces Its New Transact Platform at Money 20/20, USA

“After nearly twenty years of hyper-focus on the property management and vacation rentals industries, the company is making a significant expansion into the sharing economy and other complex markets, which require customized payment solutions. “The anatomy of an online marketplace varies,” says Sanjay Saraf, CTO of Yapstone. “It is no longer sufficient to provide a general payment […]