Welcome to Five at Five, your late look at the major payments and commerce news of the day. Today’s stories include Amazon’s effort to make Prime and Whole Foods more attractive to consumers, and an out-of-the-ordinary retail development for Walmart. Macy’s has some good results, Visa needs a cashless traveler and Facebook is purging fake content.
The much-anticipated program gives Prime members 10 percent off hundreds of items and deals on weekly specials that rotate. The program is now being offered in Florida and will be expanded to other Whole Food stores starting this summer.
Some of the designers will include Tommy Bahama, La La Anthony, H Halston and Effy. The online store is being touted as a “premium” shopping destination on the web, something Walmart is not known for.
It looks like Macy’s comeback plans are actually starting to take hold, as the long-struggling department store chain managed to pick up the pace on profits and notch a fairly sizable earnings beat.
Visa said the international trip is the sequel to the Visa Cashless Challenge, which awarded $500,000 earlier in 2018 to small businesses in the U.S. that reduced their reliance on cash and embraced electronic payments.
Facebook disclosed earlier this week its efforts to fight back against fake and offending content on its platform, revealing that in the first quarter it took action on 3.4 million pieces of content, which is an increase from 1.2 million in the fourth quarter of last year.