In today’s top payment news, Amazon begins selling its “Just Walk Out” technology to other merchants, plummeting oil markets cause a ripple effect in cryptocurrency, and 5G is predicted to add $2.2 million to the world economy.
Amazon Sells ‘Just Walk Out’ Technology To Merchants
To understand how Big Tech and FinTechs can compete with traditional banks, Karen Webster says that means asking consumers a pretty simple question: “What is a bank?” PYMNTS did, and learned what consumers say it takes to be a bank, and the three services their primary bank must offerto get their business. (Bet you can’t guess all three.)
PayPal On Bringing Data Firepower To Bust Illegal Gun Trafficking
PayPal is backing a research initiative with academics and law enforcement officials to better understand how criminals fund illegal firearm trafficking. Dave Szuchman, PayPal’s head of global financial crime and customer protection, tells Karen Webster that gaining visibility into transactions gives the good guys the tools to stop the bad guys from getting guns in the first place.
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