Welcome to Five at Five, your late look at the day’s payments and commerce news. Coverage includes Amazon’s latest healthcare move, along with a new digital banking service in the U.K. Visa and Mastercard might be making nice, Walmart digs 3D and JPMorgan has a new idea about how to reach young adults.
Amazon said it was drawn to the company because it is having a positive impact on patients’ lives. PillPack delivers medications in pre-sorted dose packaging, coordinates refills and renewals and ensures shipments are sent on time.
PayPoint said the deal gives the digital bank access to a network that is larger than all the banks, post offices and supermarkets combined.
The case centers around the fees that merchants pay when accepting card payments: merchants contend that the banks and networks worked to inflate those fees.
Walmart is testing a new experience in which customers can take a virtual tour of an apartment that has close to 70 items from national brands and its private labels. As customers explore the apartment, they can click on different products to get more information.
The new bank account is targeted at young adults who want to engage in their transactions via their mobile phones and don’t want to go into a branch.