A leading payments industry news source for more than 17 years. Glenbrook curates the news and keeps you abreast of the important daily headlines in payments.
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November 7, 2023
On the web
Affirm Ventures into B2B BNPL with Amazon Business
Tearsheet
November 2, 2023
On the web
Amazon Extends Buy Now, Pay Later to Business Customers
Chain Store Age
September 20, 2023
On the web
Amazon’s New Just Walk Out Cashierless Checkout System Uses RFID Tags to Track Apparel Purchases
TechCrunch
September 18, 2023
On the web
AWS Banks Expanded Collaboration with NatWest Group
ERP Today
September 6, 2023
On the wires
Crunch Fitness Becomes First Gym to Enable Amazon One Palm-Based Entry For Its Members
PR Newswire
August 31, 2023
On the wires
Amazon Announces App Integration for Merchants to Enable Buy with Prime on Shopify Stores
Business Wire
August 18, 2023
On the web
Amazon Expands Flex Payment Options for Amazon Pay
Chain Store Age
August 15, 2023
On the web
Amazon Joins Forces With Ripple, Embracing XRP For Swift Global Payments
TronWeekly
Amazon Wants You to Pay With Your Palm. It’s a Sneak Attack on Apple and Google
WSJ
June 22, 2023
On the web
Amazon Is Accused Of Enrolling Consumers Into Prime Without Consent And Making It Hard To Cancel
Barchart.com
June 7, 2023
On the web
Amazon Pay Adds Affirm, Providing Customers and Merchants with Another Flexible Payment Option
Yahoo Finance
May 24, 2023
On the web
Amazon One Rolls Out Age Verification, So Now You Can Buy Beer and Alcohol with Just Your Palm
US About Amazon
March 22, 2023
On the web
Amazon and Panera Team Up to Help You Pay for Orders and Access Rewards with Just the Palm of your Hand
US About Amazon
January 31, 2023
On the wires
EU Studying Whether Big Tech Should Pay Network Costs -EU Document
Reuters
January 23, 2023
On the web
Stripe Signs Deal to Process More of Amazon’s Payments
The Irish Times
Irish-founded payments technology company Stripe has signed an expanded deal with Amazon that will see the fintech process more of the online retailer’s payments. The new agreement will see Stripe become a strategic payments partner for Amazon in the US, Europe and Canada, processing payments for Prime, Audible, Kindle, Amazon Pay, Buy With Prime and other Amazon services. That accounts for a significant part of Amazon’s total payments volume.
January 10, 2023
On the web
Amazon to Widely Launch 'Buy with Prime', Says Offering Improved Merchant Sales
TechCrunch
December 8, 2022
On the web
How Amazon’s Cash Advance Program is Part of a New Wave of Financing
Modern Retail
“Amazon is expanding a new cash advance service for sellers next year, part of a growing crop of short-term financial services catering to e-commerce businesses amid a drop in venture spending. Starting in early 2023, hundreds of thousands Amazon sellers can receive between $500 to $10 million to help cover short-term costs, like inventory. The service, launched in partnership with Parafin and rolled out in a pilot this fall, doesn’t require minimum payments. Instead, the seller makes biweekly payments of 1% to 15% of their sales that period, plus a fixed fee.”
November 30, 2022
On the wires
Inter&Co Joins Amazon’s Payment Service Provider Program
PR Newswire
“Inter&Co, a leading Brazilian Super App offering a complete range of services in banking, investments, credit, insurance, shopping and remittance-related services, announced that it has joined Amazon’s Payment Service Provider (PSP) Program. The program requires any seller who uses PSP for revenue collecting to work with an Amazon-approved provider. Inter’s Brazilian clients – who are sellers with Amazon US -will now be able to receive and send payments directly to their Inter accounts. Amazon launched the program in March 2021 as part of its ongoing efforts to be the most dependable e-commerce marketplace for customers and retailers around the world. The program aims to enhance the ability to detect, prevent, and take action against potential bad actors while protecting customers from fraud and abuse. As of today, the program currently has 28 providers registered by Amazon worldwide, including Inter.”
November 14, 2022
On the web
Amazon Rolls Out Contactless Whole Foods Payment in Dallas (Palm Based)
Chain Store Age
“Amazon is beginning to offer its Amazon One palm payment shopping experience at more Whole Foods Market stores. On Tuesday, Nov. 8, two Whole Foods Market locations in the Irving and Highland Village suburbs of Dallas became the first Whole Foods Market stores in the Dallas area to offer the Amazon One palm-based payment system that allows customers the option to use their palm to pay for purchases. In the coming weeks, all 16 Whole Foods Market locations in the larger Dallas-Fort Worth area will offer the Amazon One palm payment option to its customers. This includes Whole Foods Market stores at Richardson, Dallas, Fort Worth, Plano, Bellingham, Colleyville, University Place, Arlington, Highland Park and Fairview. More than 65 Whole Foods Market stores across California recently rolled out Amazon One following previous launches in Seattle, Austin, and select stores in New York and Los Angeles.”
November 9, 2022
On the web
Amazon Pay Statistics 2022 – Market Share and Web Usage
Enterprise Apps Today
“Amazon being the world’s largest e-commerce website with millions of varied shopping articles has enabled Amazon Pay options for online payment platforms. Technology is stepping into advanced features, not long ago when Amazon was an online shopping site now, we can use it for paying other bills also. What is more exciting is that Alexa and amazon pay work very well together. You can simply ask Alexa to pay the bill and she will do it without you touching the device. This Amazon Pay statistics will give an insight into the features of Amazon Pay, its pros and cons, general statistics, and a comparison between Amazon pay and google pay.”
November 1, 2022
On the wires
Amazon Launches New Merchant Cash Advance Program Provided by Parafin, Doubling Down on Its Support for Small- and Medium-Sized Businesses
Businesswire
“Today, Amazon launched a new financing solution, a merchant cash advance, provided by Parafin–a U.S.-based provider of growth capital for sellers. This secure financing option ties payment on the cash advance to a portion of sellers’ future sales for a fixed capital fee and provides eligible Amazon sellers with easy and quick access to capital when they need it, paired with flexible payment plans. With this program, sellers can access capital in a matter of days with transparent and capped rates, no fixed term, no personal guarantee, no credit checks or excessive paperwork, and no late fees. The program rolls out to some U.S.-based businesses today, and it will be available to hundreds of thousands of eligible sellers by early 2023. This new merchant cash advance, through which eligible businesses can access capital from $500 up to $10 million, provides sellers with financing opportunities to expand their businesses, protect margins, develop new products, grow inventory, and efficiently manage cashflow. A flexible payment schedule is determined by a fixed percentage of the seller’s Gross Merchandise Sales (GMS) until the funding is paid off, with no minimum payments, no interest (only a fixed capital fee), and no collateral required—unlike a traditional loan. Payments are only required during periods that a seller has made sales, and the fixed payment rate ultimately protects them during periods of slow or no sales. This financing option will provide sellers that have been selling on Amazon.com for at least three months with an additional solution for their financial needs alongside the existing financing solutions portfolio of term loans, interest only loans, and lines of credit provided by Amazon and its third-party financing partners.”
October 25, 2022
On the web
Amazon Will Now Let Users Pay With Venmo at Checkout
CNBC
“Amazon announced Tuesday it’s adding Venmo as a payment option at checkout. The feature will begin rolling out in the Amazon app and on amazon.com starting Tuesday, before launching for U.S. users by Black Friday on Nov. 25, Amazon said. Venmo, owned by PayPal, is a popular payment service that allows users to send money to each other. It has increasingly expanded beyond its peer-to-peer functionality, with more online retailers adding Venmo as a form of payment, such as Shopify and Lululemon. Users add their Venmo account as a form of payment on their Amazon account, then select Venmo as their payment option during checkout. The partnership will give Amazon shoppers more options to pay for their order. The company currently accepts credit and debit cards, store cards, HSA and FSA accounts, as well as EBT cards.”
September 23, 2022
On the web
Amazon Launching Affirm’s ‘Buy Now, Pay Later’ Option in Canada
Yahoo Finance
“Amazon customers in Canada will soon be able to pay for their purchases on the website in smaller, monthly instalments as the e-commerce giant expands its partnership with payments company Affirm north of the border. Affirm said on Thursday in a press release that purchases on Amazon.ca of at least $50 will be eligible for the pay-over-time option within the next month if customers select the company as their payment method. Eligibility will be based on a quick approval process and details about the monthly payments, including the repayment timeline, will be displayed prior to checkout, according to Affirm.”
August 10, 2022
On the web
Amazon Expands Whole Foods Contactless Payment Across California
Chain Store Age
“Amazon is making its Amazon One palm payment shopping experience available at a new set of Whole Foods Market stores. More than 65 Whole Foods Market stores across California will soon offer the Amazon One palm-based payment system that allows customers the option to use their palm to pay for purchases. This is the first broad roll out of Amazon One at Whole Foods Market stores following previous launches in Seattle, Austin, and select stores in New York and Los Angeles.”
July 26, 2022
On the web
Amazon Launches Seller Wallet for Cashing Out Sales Proceeds
Ecommerce Bytes
“Amazon launched a new wallet for global sellers to manage payouts more easily. It will roll out to sellers over the next few months. In a post on the About Amazon blog, Max Bardon, Vice President of Amazon Worldwide Payments, shared that the initial launch is available to a select number of small businesses. “We plan to collect feedback from sellers and continue to refine this tool over time.” Account maintenance is free, but when sellers convert and transfer funds, volume-based currency conversion and international transfer fees will apply. It plans to add capabilities including third-party payments and foreign exchange rate tools in the future.”
July 18, 2022
On the web
Amazon Debuts Cashierless Grocery Store Format in New York
Chain Store Age
“Amazon is opening two more Amazon Fresh high-tech grocery stores, including the first location in New York. About a week after introducing a new Amazon Fresh store in Arlington, Va. (the site where Amazon is currently constructing its “HQ2” second headquarters complex), the retailer is opening locations in Oceanside, N.Y. and Norridge, Ill. Amazon Fresh stores are designed from the ground up to offer a seamless shopping experience, with extra features for members of the Amazon Prime paid loyalty program.”
July 8, 2022
On the web
Amazon Offers a 0% Interest Buy Now, Pay Later Deal for Prime Day Shoppers Through its Partnership with Affirm
ZDNet
“Amazon announced Thursday that Prime Day shoppers can take advantage of a special Buy Now, Pay Later (BNPL) offer during its two-day sale. Approved Prime members will have the ability to choose from three BNPL plans for purchases of $50 or more. Customers can choose to finance their purchases over three, six, or 12 equal monthly payments at 0% interest. Amazon partnered with Affirm last year, with Affirm becoming the only BNPL provider for Amazon. The new deal follows the current Affirm promotional 0% APR offer, which began June 28, 2022, and ends July 11, a day before Prime Day begins. Normally the BNPL plans provided through Affirm carry an APR of 10% to 30%. Which, if you get 20% or 30% when you choose to finance, is a bit high. However, having a 0% APR can be a great way to avoid interest charges. Just be sure you’re paying your payments on time, as missing a payment will negatively impact your credit scores.”
May 31, 2022
On the web
Amazon Opens Its First Clothing Store in Los Angeles
95.5 WSB
“Amazon has expanded in many ways throughout the years, and now the e-commerce giant has launched a brick-and-mortar clothing store. The Amazon Style fashion retail space has opened at The Americana at Brand shopping mall in Los Angeles. The new concept offers a selection of apparel, shoes and accessories. The items featured in the store also have QR codes providing information from sizing to customer ratings, the company said.”
May 9, 2022
On the web
Google Cloud Assembles Web3 Team to Leverage Emerging Metaverse
“Google Cloud Platform is putting together a Web3 specialist team to take advantage of cryptocurrency and blockchain technology. The cloud computing services suite says its new Web3 team will focus on building services for developers running blockchain applications. In addition, the team will also provide blockchain services to enterprises and customers looking to leverage the technology. The new Google Cloud Web3 division, to be helmed by former Citigroup executive James Tromans, already has a descriptive agenda set out. This reportedly includes better management of blockchain nodes as well as software for exploring blockchain data in third-party applications. Back in January, Google already hinted at this specialist division with pre-existing and established partnerships with blockchain projects. The company believes that the emerging metaverse and all its trappings offer so many untapped opportunities to exploit.”
April 26, 2022
On the web
Amazon Go: Inside the New Cashierless Store Moving in to the Suburbs
USA TODAY
“Amazon Go, the tech giant’s cashierless store concept, is ready for its move to the suburbs. The company is opening a new Go store in Mill Creek, Wash., on Tuesday morning, which it says will target customers living in suburban areas. Like its other Go stores, customers won’t need to visit a cash register when they’re ready to check out. They grab what they need and leave.”
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