Morning Brief 10.2.19: Amazon's grocery store chain gets closer to launch

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The information you need to start your day, from PaymentsSource and around the web:

Amazon supermarket

Beyond Amazon Go and Amazon's acquisition of Whole Foods is a relatively lesser known plan for Amazon to open its own supermarkets, a strategy that's starting to pick up steam.

Amazon has signed leases for more than a dozen stores in the Los Angeles area, according to The Wall Street Journal, which notes the stores are distinct from Amazon Go and Whole Foods. Other stores will also open soon in Chicago and Philadelphia. The locations are mostly outside urban cores and will include prepared foods and mainstream groceries.

Amazon's foray into traditional retail includes book stores, which have opened in New York, New Jersey and other markets.

Government appeal

A group of technology companies including Paytm and Uber have formed a group to push the Indian government to step up payment fraud prevention.

The companies have held talks with the Reserve Bank of India about fake account generation, fake toll-free numbers and other forms of cyberattacks, reports TimesNowNews, a local publication. The companies have also approached Google to investigate the possibility that crooks are gaming searches to make web payment scams appear prominently.

Regulations that govern payment fraud in India are often a point of contention, particularly since the government has installed requirements that foreign payment companies store data inside India, which external companies contend causes fraud risk by reducing information sharing.

Slip of paper

As open banking progresses in Australia, collaborations between technology companies and fintechs are starting to take shape.

National Australia Bank is collaborating with Slyp to build a digital receipt product that's available through the bank's mobile app. The feature enables users to scan and store receipts for record-keeping, as well as make payments.

The bank is hoping to reach a range of small businesses that have turned to mobile point of sale startups over the past few years by tying cash management more tightly to mobile banking.

Dining out

Google is extending its payment and merchant technology activities in India through a partnership with Dineout to support restaurant searches, reservations and ordering.

The service will be available in about 17 cities, reports the Economic Times, adding Google recently launched an incentive marketing and loyalty program for restaurants in India.

Google has made several moves in India's payment market over the past few months, such as adding security, opening an AI developers' hub and adding support for train ticket payments.

From the web

Payments Company Won't Look Like What You Might Expect
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What do Stripe, Airbnb and Uber have in common? Payments. Today, the most successful companies in the world are becoming payments companies. Why? Because payments are the backbone of business and commerce, and recent advances in technology are making it easy for companies to turn their payments into a profit center.

3 Reasons Square Is Pushing Cash Card So Much
THE MOTLEY FOOL | Tue October 1, 2019
There are over 3.5 million people using Square's Cash Card, the debit card linked to its popular mobile payments app Cash App. That's between 15% and 20% of the app's rapidly growing user base, CFO Amrita Ahuja confirmed at a recent investors conference.

Fintech unicorn Revolut’s losses double as it pushes for global expansion
CNBC | Tue October 1, 2019
British financial technology startup Revolut’s losses doubled in 2018, the firm said, as it embarks on an aggressive global expansion. The London-headquartered firm recorded a £32.8 million ($40.3 million) net loss on revenues of £58.2 million for 2018. That was more than double the £14.8 million loss it posted a year earlier, while revenue climbed 354%.

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