Morning Brief 8.19.20: Amazon Go may land at the mall
The information you need to start your day, from PaymentsSource and around the web:
Go to the mall
Amazon Go's next locations may be in shopping malls, which could host the checkout-free concept in vacant stores. The e-commerce giant has reportedly been in talks with mall operator Simon Property Group for several weeks about potential uses of mall space for Amazon.
Most of the talks have been about Amazon using vacant anchor stores as local fulfillment centers, though there is also potential for grocery store concepts including Amazon Go and the e-commerce company's own nascent supermarket, reports Fox. Simon is looking for more supermarket tenants at its malls, according to CNBC.
How well checkout-free technology performs outside of tailored environments is one of the main challenges. Checkout-free stores have mostly been small, less than 1,000 square feet, though Amazon has increased the size for some of its Go stores to as much as 10,000 square feet. Shopping malls would have a variety of store sizes, allowing Amazon and other developers to save on construction costs.
All in one
Curve and Samsung have launched Samsung Pay's debit card, which combines the mobile wallet with Curve's consolidation and "back in time" feature, which retroactively changes the card charged for a payment at the consumer's direction.
Flight from cash
A third of U.K. adults are not using cash specifically because they're worried about spreading or contracting the coronavirus.
The trend comes despite assurances from central banks and the World Health Organization that the virus does not spread via cash, reports Finextra, citing data from CoCompareMoney. The research found 76% of consumers have used contactless cards, 61% used PayPal, and 17% have used mobile payments.
The rush to digital during the coronavirus has been primarily due to changing business models to accommodate health protocols, though there's lingering concern about paper bills, following early reports that cash could be contagious.
Business payment fintech Plastiq has teamed with Silicon Valley Bank to build a foreign exchange portal that allows businesses to use credit cards to pay foreign suppliers in the payee's local currency.
The feature is designed to work in locations where cards are not accepted, and covers more than 90 currencies.
SVB and Plastiq hope to address the challenges supply chains have faced during the pandemic, which has both interrupted goods and hindered liquidity. Cutting currency management would be one way to simplify processing, and has been the source of an increasing number of partnerships.
From the Web
Amazon expands Morrisons deal with full-range offer
REUTERS | Wednesday Aug 19 2020
Amazon has stepped up its move into Britain's grocery market, expanding its relationship with Morrisons so Prime members have access to the supermarket group's full range on the internet giant's main website.
Marriott faces London lawsuit over vast data breach
REUTERS | Wednesday Aug 19 2020
Marriott International Inc, the world's largest hotel operator, is facing a London class action brought by millions of former hotel guests demanding compensation after their personal data was hacked in one of the largest data breaches in history.
Pandemic helped drive Walmart e-commerce sales up 97% in second quarter
TECHCRUNCH | Tuesday Aug 18 2020
Walmart’s investments in e-commerce, including online grocery delivery and pickup, are continuing to pay off for the retailer.
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