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Today In Payments: Chinese Tech Investments In US Plummet; Ransomware Attacks Up 41 Pct In 2019

In today’s top news, Chinese tech investments in the U.S. have plummeted in recent years, and ransomware cyberattacks have skyrocketed. Also, Karen Webster compares Uber’s path over the last 10 years to Amazon’s and discusses what we can learn from their similarities.

Chinese Tech Investments In US Plummet

Chinese investors’ interest in Silicon Valley is waning. Investments by Baidu, Alibaba and Tencent peaked in 2015 at $4.7 billion, and have dropped 84 percent since 2018, down to less than $560 million.

Data Shows 41 Pct Hike In Ransomware Attacks In 2019

Ransomware cyberattacks are up 41 percent from last year, taking down computer networks across businesses, hospital and governments. In the fourth quarter of 2019, companies paid on average $84,116 to get their files back from online thieves.

What Amazon At 10 Can Teach Us About Uber At 10

Uber reported earnings last week and analysts liked what they saw, but it hasn’t always been such a love fest. In fact, Karen Webster said, Uber at 10 is treated by analysts very much like Amazon was at 10. Then, analysts reported that startups like Overstock and SmartBargains were grabbing their share. Now, Amazon is a trillion-dollar ecosystem, and Uber is a last-mile logistics platform that Webster said may be traveling that same path.

Reynolds CEO: Recreating Grocery’s Home Goods Aisle For The Millennial

For about 75 years, since first releasing aluminum foil to the masses, Reynolds has been the driving force in the home goods aisle of the grocery store. But times are changing, and Reynolds is hitting a reset with the digital age — and building to bring in a new generation of consumers, CEO and President Lance Mitchell explained to Karen Webster.

China’s Central Bank To Start Re-Lending Funding To Fight Virus

The Peoples’ Bank of China will release a set of funds earmarked for activities and production related to fighting the coronavirus. The loans will soon be offered on a weekly basis.

Crypto Fraud Scores More Than $4B In 2019

The costs resulting from bitcoin- and cryptocurrency-related crimes hit $4.3 billion in 2019, much larger than the $3 billion incurred in 2017 and 2018 combined. A total of 90 percent of the stolen funds came from just six successful schemes.

Amazon (And Others) Brace For India’s New eCommerce Tax

India has levied a new tax on eCommerce companies and platforms. Here’s how the ripple effects of the 1 percent “tax deducted at source” may impact giants like Amazon and smaller merchants, some of them with thin margins.

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New PYMNTS Study: Subscription Commerce Conversion Index – July 2020 

Staying home 24/7 has consumers turning to subscription services for both entertainment and their day-to-day needs. While that’s a great opportunity for providers, it also presents a challenge — 27.4 million consumers are looking to cancel their subscriptions because of friction and cost concerns. In the latest Subscription Commerce Conversion Index, PYMNTS reveals the five key features that can help companies keep subscribers loyal despite today’s challenging economic times.

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