Amazon.com Inc. is scaling back its grocery delivery service Amazon Fresh in parts of at least seven states, tweaking its strategy after buying Whole Foods Market in June. The states affected are New York, New Jersey, Pennsylvania, Maryland, Virginia, Connecticut and California. Amazon launched the Fresh delivery service a decade ago in Seattle, which was…
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Starbucks executives did not deliver growth numbers on its Mobile Order & Pay smartphone app during a Nov. 2 fourth-quarter earnings call, but did give it high enough marks to be confident the service will soon be available to all of its customers. In addition, Starbucks president and CEO Kevin Johnson said the company will…
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In the U.S., Visa Direct has emerged as one of the few go-to tools for fast payments in a market that is overdue for such options. The product’s true test begins now, as Visa launches it in Europe, where faster payments options are far more plentiful. Among Visa’s biggest challenges will be Mastercard, which zoomed…
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The information you need to start your day, from PaymentsSource and around the Web: Cash pours into cross-border payments tech: A group of investors from Europe, Asia and the U.S. has invested $280 million in TransferWise, providing fuel for the London fintech’s Asia-Pacific expansion, as well as the company’s ability to reach “gig economy” workers…
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Bank futurists seem to coalesce around the same prediction: Technology will take over banking. So banks must get on board, they say, with data mining, artificial intelligence programs and other high-tech services — or they risk their demise. Few people take issue with the premise of this argument. Technology and online banking is, after all,…
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American Express will become the exclusive issuer of Hilton Honors cobranded credit cards in January, taking over the entire portfolio it previously shared with Citigroup. With an estimated 18 million Hilton Honors cardholders in the fold, American Express is also introducing Hilton’s first small-business traveler card and a premium card that stresses luxury benefits and…
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Earlier this year, the Consumer Financial Protection Bureau called for comments on the many issues associated with how consumers share bank account data with third-party companies like Intuit’s Mint or Kabbage. In response, leaders at financial institutions generally expressed concern about potential security breaches while fintech companies generally supported the demands of consumers having access…
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The financial technology revolution, which is being led by entrepreneurs rethinking everything from the way people save to how they apply for a mortgage, has the potential to put consumers in control of their own financial lives — so long as their various financial accounts can work seamlessly together with the third-party app the consumer…
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Blockchain is a bigger opportunity for business transactions than consumer transactions, according to Mastercard president and CEO Ajay Banga, who is poring over the technology to build use cases for corporate users. “It’s early days so don’t expect it to be a switch that gets turned on tomorrow,” Banga said during Tuesday’s third-quarter earnings call.…
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Not only is the holiday season the busiest and most profitable time of year for retailers, it’s also the most lucrative season for fraudsters. It’s easy to feel helpless. Fraudulent transactions and chargebacks can have a serious impact on your business: in 2016, e-commerce fraud grew by 31% during the holidays, costing merchants 7.5% of…
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