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Five At Five: Facebook Grants More Data Access

Welcome to Five at Five, your daily look at the freshest payments and commerce news. Coverage includes the latest on Facebook’s data-sharing policies, along with a deal that could shake up the procurement world. Meanwhile, the U.K. moves toward more payment consolidation, major retailers eye more automation and Walmart faces pressure in India.

Facebook Grants AOL, Nike, UPS Access to User Data

The site has admitted that it gave dozens of companies access to the data, even after it claimed to have restricted access to such data back in 2015.

Suppliers Reel After Tesco, Carrefour Agree to Combine Procurement Powers

The two companies see annual combined sales of $170 billion. Working together could help them secure better contractual terms with suppliers like Procter & Gamble, Nestle and Unilever.

UK Continues Payments Industry Consolidation

The New Payment System Operator has acquired the U.K. Payments Administration and has taken control of the nation’s check and credit clearing operations.

Walmart, Target Eye Automation to Improve Customer Service

The shift is illustrative of retailers’ battles to combat rising wages by decreasing some manual functions via automation.

Indian Traders, Merchants Protest Walmart/Flipkart Deal

Protesters contend the deal will create a monopoly in the retail industry and will drive small mom-and-pop shops under.

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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