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Five At Five: A Toys R Us Revival?

Five at Five: Payments News

Welcome to Five at Five, your late look at the day’s payments and commerce news. Today’s coverage includes possible new life for a famous retail brand, and news about Amazon’s private-label practices. Facebook offers a hacking update and Foursquare and Truebill snag fresh capital.

Toys R Us Brand Might Make a Comeback

The rights to Toys R Us’ name, along with Babies R Us, are controlled by funds that financed the retailer’s lenders during bankruptcy, as that intellectual property was collateral for their loans.

Amazon Promotes Private-Label Brands on Rival Websites

Some users searching for various products in beauty, health and household and baby items have reported seeing the link “Similar item from Our Brands” show up at the bottom of the listing. The link, which is not an advertisement, then takes shoppers to the product page for Amazon’s own private-label offering.

Facebook Says Hackers Haven’t Accessed Third-Party Apps

The social media giant said it hasn’t found evidence that the hackers accessed users’ other websites through the Facebook login.

Foursquare Snags $33M

The first close of $25 million in venture funding happened last week, while the secondary close of at least $8 million is expected to happen by the end of the year.

Refund App Truebill Snags $5M, Launches ‘Smart Savings’

The company also named a new CEO, Haroon Mokhtarzada, who co-founded Truebill with his brothers, Yahya and Idris Mokhtarzada. Launched as a mobile app to get consumers refunds on unwanted subscriptions, Truebill now aims to simplify and automate a consumer’s entire financial life.

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LIVE PYMNTS ROUNDTABLE: MODERNIZING & SCALING FOR THE NEW NORMAL

The pressure on banks to modernize their payments capabilities to support initiatives such as ISO 20022 and instant/real time payments has been exacerbated by the emergence of COVID-19 and the compelling need to quickly scale operations due to the rapid growth of contactless payments, and subsequent increase in digitization. Given this new normal, the need for agility and optimization across the payments processing value chain is imperative.

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