Welcome to Five at Five, your late look at some of the freshest payments news of the day. Today’s run of stories starts with an update on where Walmart stands in its pursuit of Indian eCommerce marketplace Flipkart. Other news includes a fresh look at Sinemia, a movie ticket subscription service that is taking on MoviePass, the latest effort by Sears to win more online retail business, plans for a Tesla rideshare program and a gift card data breach that recently hit a major player in the fleet industry.
Walmart is far along in discussions with Flipkart for a controlling stake in the Indian eCommerce marketplace, but Flipkart’s board hasn’t yet firmed up the deal. However, a source close to the matter said a resolution could happen in a matter of days, according to a report.
Sinemia launched four years ago in Europe and is now offering up some very low-cost options for movies tickets. Learn more about its pricing, its revenue challenge and why MoviePass is suing this competitor.
The retail chain originally launched LEASE IT in 2012, aimed at providing an affordable solution to those who do not have credit or cannot benefit from layaway because they need the product immediately. Since its debut, LEASE IT has processed over 1 million leases, which prompted Sears to offer the service on a larger scale.
Tesla’s CEO revealed that while technology for the company’s autonomous vehicle ridesharing network will be ready by the end of next year, it’s still unclear as to when the service will actually launch.
The provider of commercial payment services said that on April 26, it “identified suspicious activity primarily on systems involving the company’s Stored Value Solutions gift card business.” The payment services provider did not detail the scope of the breach but said that a “significant number” of gift cards that were six months or older, along with PINs, were accessed.