Welcome to Five at Five, your late look at the day’s payments and commerce news. Today’s coverage includes the latest grocery pickup expansion effort, along with SWIFT talking about a rumor of a Ripple integration. American Express might have a database problem, Wells Fargo faces more regulatory issues and Louis Vuitton is beefing up its international commerce efforts.
The company said Instacart Pickup provides customers with expanded delivery and/or pickup options, enabling them to order via Instacart and pick up groceries at retailers. Instacart said it will be working with existing and new retail partners to add the service to participating partner stores around the country during the remainder of this year and throughout next year.
A rumor was circulating that the pending upgrade of the SWIFT network would enable Ripple products to be available to roughly 4,000 more banks.
The database was mostly encrypted, but certain data sets might have included readable data.
According to a report, the bank in “recent weeks” has been sent a “regulatory warning” from the U.S. Office of the Comptroller of the Currency (OCC) regarding the financial institution’s “technology operations.”
The move will enable the global retailer — which owns 70 luxury brands, including Christian Dior, Louis Vuitton, Bulgari, Fendi and Givenchy — to enhance the efficiency and traceability of its cross-border payments.