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Today In Payments: Amazon Widens Presence With Cashierless Grocery Stores; Revolut Raises $500M

Today in Payments

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 Widens Presence With Cashierless Grocery Stores

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 Raises $500M, Aims For Profits In 2020

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 Warns Coronavirus Hit To Revenue In Q1

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 Buys Credit Karma For $7.1B

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.

NEW DATA: What 1,052 eCommerce Sites Tell Us About The State Of Buy Buttons In 2020

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.

Why Global Citizens Need Credit Passports

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.

Macy’s Touts A Turnaround After Q4 Earnings Beat

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.

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LATEST PYMNTS REPORT: MARCH 2020 B2B API TRACKER  

B2B APIs aren’t just for large enterprises anymore — middle-market firms and SMBs now realize their potential for enabling low-cost access to real-time payments and account data. But those capabilities are only the tip of the API iceberg, says HSBC global head of liquidity and cash management Diane Reyes. In this month’s B2B API Tracker, Reyes explains how the next wave of banking APIs could fight payments fraud and proactively alert middle-market treasurers to investment opportunities.

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