News

Today In Payments: DOJ Antitrust Case Against Google To Focus On Search; GoodRx IPO Shares Sell Above Target

In today’s top news, the DOJ’s antitrust case against Google will focus on its power over internet searches, and GoodRx priced its stock at $33 a share, above its target. Plus, Walmart and Goldman Sachs are partnering to offer Walmart’s Marketplace sellers lines of credit.

DOJ Antitrust Case Against Google to Focus on Search

When the government’s case against Google reaches a courtroom, prosecutors will focus on the multinational technology conglomerate’s power over internet searches. But that decision could spur dozens of separate lawsuits from attorneys general nationwide that will target the tech giant’s mastery in other business sectors.

GoodRx Goes Public as IPO Shares Sell Above Target

One week after GoodRx Holdings Inc. filed its initial public offering (IPO), the discount prescription marketplace priced its stock at $33 per share, above its target to sell $1.1 billion in stock, giving it an initial market cap of around $12.7 billion, Axios reported.

Walmart, Goldman Partner to Offer Credit to Marketplace Sellers

Walmart and Goldman Sachs are teaming up to help the retailer’s Marketplace sellers gain access to lines of credit. The funds can help businesses meet surging customer demand and spur innovation.

Amazon Prime Day Reportedly Set for Oct. 13-14

The long-postponed Prime Day will reportedly now be held Oct. 13-14. Walmart countered with an announcement that it will focus on toys and other gift categories as the retail industry prepares for an early start to the holiday season.

Report: Overcoming ID Fraud’s Technology Blind Spots

Many banks are turning to video-based onboarding procedures and artificial intelligence (AI) to counter the threat of identity fraud, but those technologies have their own blind spots when deployed alone, says Sameer Shetty, head of digital banking at Axis Bank. In this month’s Preventing Financial Crimes Playbook, Shetty discusses how developing a multilayered defense system can render identity fraud nearly nonexistent.

Online Gaming’s Winning Payouts Plan

COVID-19 changed a lot of things, but consumers' enthusiasm for online gambling isn’t among them, George Connors, Fiserv’s senior vice president of gaming and sports solutions, tells PYMNTS. But consumer expectations for online gaming experiences have also risen, and Connors says that starts with multiple options for how players are paid their winnings.

Labor Dept Floats ‘Tests’ to Define Independent Contractors

A new proposal by the U.S. Department of Labor would offer guidelines and "tests" to help define whether workers are independent contractors or employees.

——————————

NEW PYMNTS DATA: HOW WE SHOP – SEPTEMBER 2020 

The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

TRENDING RIGHT NOW