News

Retail
Amazon, Walmart Move to Boost Shopper Frequency as Analysts Check Out
October 21, 2022

By this time next week, Amazon’s Q3 results will be in the books and if recent history is any guide, they probably will be seen as disappointing among the three dozen analysts who follow the company’s every move. This, as the Seattle-based company’s results have...

Retail
Luxury Resale Competition Spikes as ‘What Goes Around’ Opens Amazon Storefront
October 21, 2022

For over 20 years, New York City’s original luxury reseller, What Goes Around Comes Around, has enjoyed a robust niche catering to the designer apparel and accessories needs of its high-end neighbors in Manhattan and Beverly Hills. While publicly traded upstarts like The RealReal and...

Retail
Adidas Cuts Profit Forecast Amid Low Sales, High Inventory
October 21, 2022

Adidas saw its shares tumble Friday (Oct. 21) after projecting that profits would be lower this year as it deals with lower-than-expected sales and a glut of inventory. In a message to investors this week, the company said its new outlook is based on “a...

Investments
Report: PhonePe Considering New Funding Round to Build Super App
October 21, 2022

India-based FinTech PhonePe is reportedly in talks to start a new funding round to further its aim of building a financial services super app. The round would be led by global growth equity investor General Atlantic with an investment of $450 million to $500 million...

Retail
Instacart Shelves IPO Plans Citing Rocky Markets
October 21, 2022

Food delivery service Instacart is reportedly holding off on plans to go public as it waits for a more favorable business climate. According to multiple media accounts Friday (Oct. 21), including The Wall Street Journal (WSJ), sources with knowledge of the matter said the company...

Cross-border Payments
How CFOs Navigate the ‘Cross-Border Storms’ of B2B Payments
October 21, 2022

From small businesses to global brands, businesses continue to face challenges when making payments across borders in order to pursue the massive opportunity that doing business globally provides. In a panel discussion hosted by Ben Ellis, Global Head, Visa B2B Connect, Visa Business Solutions, two...

Security & Fraud
JPMorgan: ‘Pressure Testing’ Key to Helping Treasurers Fight Payments Fraud
October 21, 2022

“The move to digital has been a wonderful thing,” JPMorgan Head of Client Fraud Prevention for Commercial Banking Alec Grant told Karen Webster. “The shift has opened up avenues and payment vehicles for treasurers that make them much more efficient and gives them new business...

B2B Payments
FLEETCOR Purchases Lodging Provider Roomex To Boost B2B Lodging 
October 20, 2022

Business payment company FLEETCOR has said it will be buying European workforce lodging provider Roomex, which will help the company add to its lodging business and help it expand more internationally, a press release said. Roomex is headquartered in Dublin, Ireland and has 600 workforce...

Global Payments
Payroc Debuts Embedded Finance API Platform
October 20, 2022

Global payments company Payroc has debuted a new API suite and developer documentation site, a press release said, which will give technology providers more embedded payments flexibility. The platform was intended to equip Payroc’s partners with the control to make unique payment experiences within their...