| June 29 Payments NEXT news: Amazon Counter, Kount AI, US retail closures, MasterCard Digital Wellness, Prime Day, Seattle fintech hub, more...
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| This week’s global payments news roundup starts with Amazon’s launch of a new delivery option called Counter and partnering initially with 100 Rite Aid locations. Kount AI is a new fraud detection program built on artificial intelligence that simulates a skilled fraud analyst. Coresight Research says there are 6,986 US store closures in the US to date with as many as 12,000 anticipated by year-end. MasterCard Digital Wellness is another AI-enhanced payments and security program aimed at small business.
Also, in the payments news corral, we’ve got Alibaba’s launch of a new Tmall English language portal. Walmart will now take SNAP payments or food stamps for online groceries. Home Depot’s CEO hopes to minimize impact of US tariffs on hardware product prices. Amazon competitors are gearing up to compete online with the annual Prime Day sale with cool offers of their own. Finally, we wrap up with a fascinating look at Seattle’s fintech future. You’ve got everything you need for your reading pleasure on this first full weekend of the summer. Do enjoy!
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| Amazon further disrupts the delivery world
Amazon announced a new delivery option called Counter, that lets shoppers pick up purchases at specialized counters starting with 100 Rite Aid stores immediately and adding more than 1,500 Rite Aids by year end. Delivery to a Counter location is available for tens of millions of products sold on Amazon and works with same-day, one-day, two-day or standard shipping. The service is available to all customers at no extra cost. Read more… |
| Kount AI raises payments fraud protection potential
Fraud protection firm Kount has launched a next-generation artificial intelligence (AI) platform that could be an effective new weapon to combat the dramatic growth of payments fraud. Kount AI simulates the decision-making process of a skilled fraud analyst, built on analysis from Kount’s universal data network that includes billions of transactions over 12 years for 6,500 customers in more than 180 countries, and taking place on multiple payment networks. Read more… |
| Shopping list of US retail store closures grows
Coresight Research tracked 5,524 US store-closures in 2018 compared to a record 8,139 closures in 2017. The company says at the end of May, the number of store closures announced in 2019 is up to 6,986 already with as many as 12,000 possible by the end of the year. If you want an even more stunning statistic, investment bank UBS research projects more than 75,000 retail store closures by 2026. Read more... |
| Mastercard enhances small business digital payments & security
With the launch of its MasterCard Digital Wellness program, the payments giant is making some smart moves to enhance digital payments and security for the small business sector. The new AI technology and suite of resources helps small and independent businesses offer online customers password-free, online checkouts that are more secure for cardholders. Read more… |
| June 28 Global payments news roundup
Amazon’s launch of a new delivery option called Counter and partnering initially with 100 Rite Aid locations. Kount AI is a new fraud detection program built on artificial intelligence that simulates a skilled fraud analyst. Coresight Research says there are 6,986 US store closures in the US to date with as many as 12,000 anticipated by year-end. MasterCard Digital Wellness is another AI-enhanced payments and security program aimed at small business. Read more… |
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