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May 18 Payments NEXT newsletter: US tariffs, AI in banking, Farmstead, Apple Pay, “distressed” retailers, Deliveroo, Amazon, mobile invoicing |
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While the tariffs fight foments, we’ve got global payments news to keep you ahead of the curve. We start with a business and payments industry look at the impact of China tariffs. AI is getting deeper into the payments and online grocer Farmstead is ahead of its competitors by using AI. We have tips on mobile invoicing and a look at Amazon automation.
In our weekly payments news roundup, we cover new developments from Apple Pay UK consumer bank fraud complaints up 40% over last year, an S&P report that says 17% of US retailers are “distressed.” We’ve also got updates on Walmart profits and e-commerce and Amazon automation and an investment in EU delivery company Deliveroo. Enjoy your weekend and to our Scottish Canadian readers, enjoy Monday’s Victoria Day holiday.
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Could Trump-China tariffs take down payments industry profits?
Now that US tariff increases of 25% or more on $300 billion of Chinese products are looming large, what’s the impact on consumers and is there potential for the payments industry to take a hit as well? A study for the NRF and 150 other trade organizations shows US companies paid $2.1 billion in tariffs on Chinese products in November 2018 alone, up from $363 million a year earlier. Read more… |
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Use of AI in payments industry is set to explode
Artificial intelligence has long been used in banking and credit card systems to detect and spot fraudulent activity. Now, AI is making its way into other areas of the payments and financial services industries. AI in payments industry is helping enhance customer service, provide hyper-personalized credit scores and offers, and drive new forms of transactions like stores with no cashiers.Read more… |
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Online grocer Farmstead launches AI-based Smart Shopping List
San Francisco-based online grocer Farmstead launched a Smart Shopping List app that uses predictive machine-learning to make grocery shopping faster, easier and less expensive for consumers. Farmstead says artificial intelligence (AI) goes beyond simple product recommendations to actually predict what customers need based on multiple data points including weekly shopping history, buying signals and what’s already in the customer cart. Read more…
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Amazon automation plan will improve efficiency, cut jobs
Amazon has automated some of its plant processes, but it’s still surprisingly labor-intensive and it’s one area where it may find some needed efficiency and savings. The proposed CartonWrap machines from Italian firm CMC Srl cost more than a million dollars each and pack 600 to 700 orders per hour, four to five times faster than workers. Read more... |
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| 10 Benefits of Mobile Invoicing
Mobile invoicing is provided by many of the most popular cloud-based invoicing providers (Zoho, Wave, Stripe, Square, etc) so you don’t have to mess around syncing or transferring data if you’re already using one of the more popular platforms. The advantages of adding mobile invoicing to your arsenal of time-saving processes are numerous. I’ll give you ten reasons to start. Read more... |
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| May 17 Payments NEXT newsletter
While the tariffs tiff continues, we’ve got other global payments news to keep you ahead of the curve. We start with a business and payments industry look at the impact of China tariffs. AI is getting deeper into the payments business and online grocer Farmstead is another good example. Apple Pay launches in 16 Eastern EU countries. UK consumer bank fraud complaints are up 40% over last year. An S&P report says 17% of US retailers are “distressed” and vulnerable. Walmart profits jumped with the help of e-commerce and technology while Amazon invested in EU delivery company Deliveroo. Read more… |
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