Today, in the connected economy, Amazon is reportedly preparing for the largest rollout of its palmprint payment technology yet.
Also, Kohl’s is expanding its online purchase and in-store pickup offering to all of its 1,100 stores, and US regulators are proposing tougher regulations for large hedge funds handling cryptocurrencies.
Report: Amazon extends palm-print payment tech to 65 health food stores
Amazon is reportedly expanding the number of stores using its Amazon One technology, which allows customers to pay by scanning their palms.
According to published reports, the retail giant will deploy this technology at 65 other Whole Foods locations in California.
This would be the largest single rollout of the technology, having already been tested at Whole Foods in Los Angeles, Austin, Seattle and New York, as well as an Amazon Style store and some Amazon Go and Amazon Fresh stores.
Kohl’s is looking to match the increase in same-day delivery with expanded pickup
Kohl’s hopes to compete with larger rivals Amazon and Walmart in the in-store pickup space by expanding its online and in-store pickup offering to each of its 1,100 locations.
The department store chain says the service will have orders ready for pickup within two hours, with customers receiving a notification and making pickup with a one-time code in the Kohl’s app or self-service kiosk.
“Our teams have been working hard to ensure Kohl’s self-pickup service is available to all of our customers ahead of the holiday rush,” said Chief Technology Officer Siobhán McFeeney. “We’re focused on listening to what shoppers want and using technology to make it as easy as possible for families to get everything they need, quickly and easily.”
Figure teams with Visa to enhance the Banking-in-a-Box platform
Blockchain lending startup Figure Technologies has partnered with Visa to offer services to issuing processors through Figure’s online banking platform Banking in a Box.
The company said Visa DPS will be a key part of Banking in a Box, which allows Figure Pay customers to add eligible deposit accounts, payments and cards to online banking, retail or FinTech offerings.
Banking in a Box is a platform built on the Provenance blockchain that replaces traditional banking systems and “offers a cost-effective core system economy to Figure’s customers,” the company said in a press release.
SEC, CFTC Consider New Crypto Reporting Rules For Hedge Funds
Federal regulators are preparing to release a proposal that would require hedge funds with more than $500 million in assets to disclose their exposure to cryptocurrency.
The proposal follows the Securities and Exchange Commission’s decision to amend Form PF, a confidential reporting form.
“The changes that the Commodity Futures Trading Commission (CFTC) intends to jointly propose with the SEC are intended to improve the Financial Stability Oversight Council’s (FSOC) ability to assess systemic risk and strengthen the SEC’s regulatory oversight of retail fund advisers and their investor protection efforts in light of the.” growth of the private fund industry,” the SEC said in a press release.
Deliveroo exits the Netherlands as food delivery falters worldwide
British food supplier Deliveroo will close its operations in the Netherlands after failing to secure a top spot in that country.
“Our goal is to achieve a top position in the markets in which we operate, naturally focusing on the right hyper-local positions,” Deliveroo CEO Will Shu told analysts on a earnings call.
“In the Netherlands it is very clear that we do not have a strong local position. We’ve also been there for almost seven years, so I think we’ve had ample time to understand this market.”
The company said that the Netherlands accounted for 1% of the group’s gross transaction volume in H1 2022 and “maintaining a prime market position would require a disproportionate level of investment with uncertain long-term returns.” Deliveroo intends to cease operations by the end of November.
——————————
NEW PYMNTS SURVEY FIND 3 OF 4 CONSUMERS WITH STRONG DEMAND FOR SUPER `PS
Around: The results of PYMNTS’ new study, The Super App Shift: How Consumers Want To Save, Shop And Spend In The Connected Economy, a collaboration with PayPal, analyzed the responses of 9,904 consumers in Australia, Germany, the UK and the US and showed a strong demand for a single multifunctional super app instead of using dozens of individual apps.
Comments are closed.