Welcome to Five at Five, your late look at the day’s payments and commerce news. Today’s coverage includes the latest move by Amazon to attract more consumers in India, and the latest on a global ransomware attack. Goldman Sachs makes a cash management move, Panasonic prepares tech launches and FinTechs want more access.
Amazon also recently announced a shopping event called the “Amazon Great Indian Sale,” which will have discounts and deals on more than 170 million products, starting on Jan. 20 and running through Jan. 23. Customers can get an additional 10 percent discount if they use HDFC Bank cards. Prime members will get a 12-hour head start on the sale.
A team of cybersecurity firms has tracked the ransomware, which uses email phishing to inject a Trojan dubbed TrickBot into thousands of computers.
The wholesale payments and cash management business resulted in about $250 billion in global revenue in 2017 for big banks.
One of Panasonic’s biggest upcoming announcements will be a first-to-market solution called Visual Sort Assist (VSA), a semi-automation software that combines barcode scanning, projection and 3D-sensor technology to detect and track parcels throughout a manual facility for dynamic sorting.
FinTechs told Reuters they aren’t keen to invest in expansion in the U.S. if they don’t have access to the payment systems, settlement services and other Federal Reserve resources that the Fed has yet to decide if it should let FinTechs access.