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.
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.
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.
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.
The shift is illustrative of retailers’ battles to combat rising wages by decreasing some manual functions via automation.
Protesters contend the deal will create a monopoly in the retail industry and will drive small mom-and-pop shops under.