Today In Payments: Amazon India Adds Insurance, Gold; Walmart’s Stock Up 6 Pct On News Of Walmart+
In today’s top news, Amazon India added insurance and gold to its offerings, and Walmart’s stock was up 6 percent yesterday (Sept. 1) after the retailer announced the launch of Walmart+. Plus, U.S. corporations owe a record $10.5 trillion in debt.
Amazon.com Inc.’s 100 million registered customers in India now have access to more financial services. In a bid to attract new customers and sell $13 annual subscriptions to Amazon Prime, the paid service that gives users access to extra services, the eCommerce giant has added insurance and gold to its menu.
Stock for retail giant Walmart got a $24 billion boost upon the retailer’s announcement of a subscription membership service, Walmart+, which will debut on Sept. 15, costing $98 a year or $12.95 per month.
The pandemic has fueled a record $10.5 trillion debt owed to creditors by U.S. corporations, 30 times the debt of 50 years ago. The largest piece of debt, $7.2 trillion, is owed by companies with investment-grade credit ratings, a good sign to creditors.
After China created new limitations on the export of artificial intelligence (AI) technology, a potential deal for TikTok’s American operations is facing a hurdle as it is uncertain if the programming code at the heart of the app can come with the arrangement.
Six out of 10 consumers now say the touchless payments options merchants make available to them can sway their decision to shop — or not to shop — in this new digital-first world. The new PYMNTS How We Shop Report, in collaboration with PayPal, surveyed 2,163 U.S. consumers and identifies the five payment offerings that have now become make or break for merchants when serving their customers.
Chase launched a new Mastercard-branded credit card at a time when U.S. consumers are paying down credit card debt and issuers have been largely muted about issuing new cards. But Linda Kirkpatrick, president of U.S. Issuers at Mastercard, tells Karen Webster that consumers are still spending and value flexible spending and rewards now more than ever. That’s why now is the right time to introduce a new cash-back credit card.
Human pilots furloughed or laid off by airlines due to the COVID-19 travel downturn could soon find work as “pilots” for drones.