In today’s top payments news, Amazon opened its first cashierless grocery store, Revolut raised $500 million and aims to reach profitability by the end of the year and Mastercard warned that the coronavirus will negatively impact its first quarter revenue.
Amazon opened its first cashierless grocery store in Seattle on Tuesday, Feb. 25. The 10,400 square foot Amazon Go grocery store will be stocked with about 5,000 items, including fresh produce, meats and alcohol.
Revolut raised $500 million in a Series D funding round, placing the global financial platform’s value at $5.5 billion. Revolut plans to increase daily engagements and has set its sights on profitability this year.
Mastercard warned that its Q1 growth will be two or three points lower than previously expected, due to the coronavirus outbreak. The company said cross-border travel and cross-border eCommerce growth have both been hit by the coronavirus.
Intuit closed its $7.1 billion deal to buy Credit Karma on Monday, Feb. 24. This latest acquisition boosts the company’s value to more than $74 billion and follows a recent trend in the FinTech sector to compete by consolidating and accumulating data.
Buy Buttons may speed up time to checkout, but simply offering them though doesn’t necessarily drive conversion. In the latest Buy Button Report, PYMNTS analyzes 1,052 leading eCommerce sites to determine how buttons can — and are being used — to drive more sales.
When consumers go abroad to work or study, Nova Credit Co-founder And CEO Misha Esipov tells Karen Webster, they become a credit “black box,” making credit expensive or simply unattainable. Esipov says that credit passports will help, which is why investors (including ARod and Ashton Kutcher) just gave the firm $50 million to fast-track its growth.
After four consecutive quarters of progressively declining results, Macy’s surprised the markets with an unexpected beat on earnings. Last-minute shoppers brought the Christmas miracle Macy’s needed.