It’s fintech Friday and we’ve got news about the latest financial tech innovations and trends to take you into the weekend. Rumors keep growing that Amazon is about to get into cryptocurrency according to Investopedia. Meanwhile, in Germany, Amazon is getting into hot water by delaying payments to merchants who are complaining loudly. Back in the US, Amazon Fresh is reducing suburban deliveries due to high costs and only maintaining service in large urban areas.
Domain service Go Daddy has partnered with Square to provide payment services for its small to midsize online businesses. ThePaypers.com has a report on the impact of purchases as e-commerce sales grow via the internet of things. In India, PayPal launched services for local e-commerce businesses and will provide access to global payments from customers as well. Winter Olympics partner Visa announced three wearable payment devices, including NFC-enabled payment gloves, commemorative stickers and Olympic pins.
Could Amazon Be Getting Into Cryptocurrency?
On October 31, Amazon (AMZN) registered three different domain names relating to digital currencies. In the wake of the news, investors and digital currency analysts are speculating that the e-commerce titan may be making inroads into the cryptocurrency craze. Could Amazon be plotting its own cryptocurrency? Considering the number of new digital currencies to hit the field each week, this is not outside of the realm of possibility. It’s worth noting, though, that Amazon already owns the domain “amazonbitcoin.com,” and the domain names referring to pre-existing digital currencies might point in another direction. Via investopedia.com
Amazon Accused of Withholding Merchants’ Money In Germany
Some of Amazon’s third-party sellers in Germany have accused the U.S. giant of failing to transfer them the money they are owed—and they’re worried about the impact of their businesses in the lead-up to Black Friday. Reports suggest merchants in other European countries are also affected. The e-commerce giant is supposed to pay out third-party sellers within 14 days, but many merchants have not been able to withdraw their money from those accounts since 30 October, the BVOH said. Via fortune.com
AmazonFresh Phases Out in Certain Markets
In case you missed it: The e-commerce giant announced on Friday (Nov. 3) that it would be phasing out the grocery delivery service in parts of New Jersey, Pennsylvania, Delaware, Maryland, California, New York, Connecticut, Massachusetts and Virginia.
AmazonFresh delivery will still be available in urban centers like New York City, L.A. and Chicago. The move confirms analysts’ suspicions that grocery delivery in non-urban areas is too expensive for an e-commerce company to sustain without high subscription fees or a cost-reduction model to boost margins.
Via pymnts.com
GoDaddy forms payment integrations with Square
Small business domain host GoDaddy has inked an integration pact with Square around online and offline payments for SMBs. Specifically, the two companies have integrated Square payments for e-commerce sales and online appointment booking into GoDaddy’s website builder GoCentral. The integration will make it easier for businesses to link their Square payments account to their GoDaddy website to process online sales. Via zdnet.com
How the Internet of Things Is Changing E-commerce
Internet of Things adoption (especially smart homes and smart features) is proliferating rapidly and shows no sign of slowing down. Purchasing on the Internet of Things An Internet-of-Things device is most often associated with smart devices, such as refrigerators that can order groceries or personal assistant devices that can automatically order products online. Many of the personal assistant devices are specifically connected to venues such as Google Express or Amazon Marketplace, whereas a smart home device may be connected to a local vendor or other store. Via thepaypers.com
PayPal Launches India Operations, Offers Online Payments on Local E-Commerce Sites
Global digital payments major PayPal on Wednesday announced its India operations, after offering cross-border payments in the country for close to a decade, the company said. In a statement, PayPal Holdings, said: “At launch, Indian consumers can use PayPal to shop online at some of India’s most popular businesses. Merchants offering PayPal will be able to process both local and global payments through PayPal, getting access to PayPal’s 218 million customers around the world and in India through a single integration.” Via gadgets.ndtv.com
Visa Debuts Winter Olympics Payment Wearables
In a press release, Visa, the exclusive payment technology partner of the Olympic and Paralympic Games, debuted three wearable payment devices, including NFC-enabled payment gloves, commemorative stickers and Olympic pins. The gloves contain a dual interface chip housed with a contactless antenna capable of completing purchases throughout official Olympic venues and at compatible readers globally. Via pymnts.com
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