Google is rolling out new payments features, including targeted offers on Android Pay. Users can also expect “a new Google API that will enable fast checkouts in apps and online, [and] payments with Google Assistant,” 9To5Google reports. “For Assistant, users will soon be able to send and receive money using only voice commands and a card linked to their Google account.”
For the first quarter, PayPal reported a net income of $384 million, or 32 cents per share, while revenue jumped 17% to $2.975 billion, year-over-year. That beat Wall Street’s revenue expectation of $2.94 billion, ZDNet notes. Meanwhile, “The company says it grew its active account base by six million during Q1, ending with 203 million active customer accounts.”
Amazon and PayPal want to work more closely together, which may include letting shoppers pay for Amazon purchases using their PayPal accounts. Indeed, “We have been in conversations with Amazon,” PayPal CEO Dan Schulman tells Bloomberg. “We’re closing in on 200 million users on our platform right now. At that scale, it’s hard for any retailer to think about not accepting PayPal.”
Amazon Launchpad -- the shopping giant’s section for startup products -- will now curate a selection of items that were “Featured on Product Hunt.” As such, consumers “can browse items upvoted by the community and see the conversations around the product,” The Next Web reports. “Similarly, on Product Hunt’s item page, if an item is available for purchase through Amazon Launchpad, you’ll see an option from the drop down ‘Get It’ menu to buy it.”
Rather than adopt Apple Pay or some other NFC-based payment service, CVS just launched a mobile payment solution of its own. “It’s aptly called CVS Pay, and it shows a barcode on the phone screen that the pharmacy can then scan to ring up your purchases, so long as you link a credit or a debit card to it,” Engadget reports. “You can also present the barcode to pick up prescriptions that you can refill and manage in-app.”
Fortune checks in with Jet.com on the first anniversary of the ecommerce startup’s big debut. “It premiered with a huge amount of hype after getting hundreds of millions in funding and a nearly $600 million valuation before selling a single purse, microwave, or bottle of laundry detergent,” Fortune notes. “But the past year has been filled with challenges.”
Digital ordering business Olo just raised $40 million in funding from The Raine Group. “The capital will be used to expand its recently launched Dispatch delivery service,” TechCrunch reports. “With over 150 restaurant groups as clients, New York-based Olo works with large chains … to power their online ordering and pick-up business.”
Some critics are not impressed with Amazon’s first foray into brick-and-mortar retail. The New Republic’s Dustin Kurtz calls it “wildly banal,” and writes that the only thing it “disrupts” is foot traffic heading toward a Restoration Hardware. “The store is physically odd,” he adds. “It betrays inexperience with retail.”
Carl’s Jr. is cooking up a loyalty application to serve to Canadian customers that includes payment, gifting and rewards options, and is welcoming new users with a $10 credit on mobile to fuel in-app purchases. The casual dining chain has teamed up with mobile payments platform PayWith to power the Carl’s Jr. Rewards app for the Canadian market and answer consumers’ demands for a one-stop location with payment, gifting and loyalty perk options.
Analysts have cut their price targets for Alibaba Group Holding Ltd shares after the stock fell to a post-flotation low on Wednesday on weak earnings and concerns over China's economy. Alibaba's shares are now at $73.38, hovering just above their initial public offering price of $68. The average target price fell from $106.82 on Tuesday to $99.09 on Thursday, according to a Thomson Reuters survey of 46 analysts. Of those analysts, 41 recommend buying Alibaba shares. None suggest selling, though the company has lost over $100 billion of market capitalisation since its November high.