JPMorgan Intros E-Wallet for Gig Economy, Online Markets

JPMorgan Chase has developed an e-wallet for Airbnb, Amazon, Lyft and the like, to allow them to offer customers virtual bank accounts, car loans and home rental discounts. In doing so, these online marketplaces and gig economy companies will end up spending less on payment processing fees to third parties — including JPMorgan. That might sound counterintuitive, but the catch is that the companies can only avail themselves of the offerings if they let JPMorgan handle all the payment processing and cash exchanges. Continue reading JPMorgan Intros E-Wallet for Gig Economy, Online Markets

FTC Begins Amazon Probe by Talking to Third-Party Vendors

The Federal Trade Commission has begun its investigation of Amazon by trying to determine if small businesses do in fact have alternative marketplaces. Several attorneys and “at least one economist” have been conducting 90-minute interviews with some of Amazon’s third-party vendors, to see if they do earn revenue from eBay, Walmart or other shopping sites. According to former FTC staffer Michael Kades, the length of the interviews and number of staff dedicated to the task indicates the agency is doing a “serious job.” Continue reading FTC Begins Amazon Probe by Talking to Third-Party Vendors

Alibaba Dominates E-Tail in China But Fails to Thrive Abroad

In its last fiscal year, which ended in March, Alibaba Group’s 654 million customers bought $835 billion worth of goods, with revenues of $56.2 billion, cementing the company’s credentials as the world’s largest e-tailer. Put another way, the company handled more business than Amazon and eBay combined. Notably, 66 percent of Alibaba’s revenue — $36.9 billion — came from China. But translating that success to other countries has proven elusive — a mere 5 percent of the company’s revenue came from international locations. Continue reading Alibaba Dominates E-Tail in China But Fails to Thrive Abroad

Once Again, Prime Day Shatters Sales Records for Amazon

According to Amazon, this week’s Prime Day 2019 topped last year’s Black Friday and Cyber Monday combined. Despite competing discounts offered by eBay, Best Buy and Walmart, Prime members purchased more than 175 million products during the annual sales event. The tally is challenging to compare to previous Prime Day events since the e-commerce giant keeps expanding the duration of the sale (this year it was 48 hours, compared to 36 hours in 2018 and 30 hours in 2017). However, the event set a number of sales records, including new milestones for Amazon devices. Continue reading Once Again, Prime Day Shatters Sales Records for Amazon

Companies Complain to Justice Department About Big Tech

The federal government is listening to complaints about how the major digital platforms exploit their size and the paucity of regulations — and companies are lining up to tell their tales of woe. Yelp public policy chief Luther Lowe says firms that once quietly grumbled are now talking to the Department of Justice about anti-competitive behavior by the big tech companies, all of which vigorously deny the accusations. Two Instagram executives stated that, although some would like to break up social giant Facebook, that won’t help the problem. Continue reading Companies Complain to Justice Department About Big Tech

Apple Sells Products via Amazon, Tightens Resale Market

Amazon Marketplace, a third-party seller network worth about $250 billion, has long been the go-to platform for online entrepreneurs who refurbish and sell old Apple computers. But the Mac resale sector has gone up in smoke since Apple and Amazon struck an agreement to limit sales of Apple products only to “the largest companies” and authorized providers. Amazon Marketplace is “the preeminent place” to sell products, offering logistics and shipping unlike competitors eBay and Walmart, as well as Overstock and Etsy. Continue reading Apple Sells Products via Amazon, Tightens Resale Market

EU Parliament Passes Laws That Impact Online Companies

The European Parliament voted to fine Internet platforms such as Facebook, Google and Twitter up to 4 percent of their annual global turnover if they do not remove extremist content within one hour of authorities’ request to do so. The vote was 308 to 204, with 70 abstentions. The European Parliament also approved a platform-to-business (P2B) law proposed by the European Commission in April 2018. The P2B law forces Amazon and Google to reveal how they rank products and Facebook and others to be more transparent. Continue reading EU Parliament Passes Laws That Impact Online Companies

Cloud Pioneers Amazon, Microsoft Dominate Enterprise IT

A report from market research firm ETR revealed Amazon and Microsoft as dominant in the enterprise information-technology market due to their early start in cloud computing. Over 800 chief information officers and high-level corporate executives ranked more than half of the top 30 products and services as those from the two tech giants. Those products included artificial intelligence, cloud infrastructure and software, data analytics, and robotic process automation as well as “other emerging digital tools.” Continue reading Cloud Pioneers Amazon, Microsoft Dominate Enterprise IT

Quibi Chief Meg Whitman Talks Mobile Content, 5G, eSports

Founded by Jeffrey Katzenberg and headed by chief executive Meg Whitman, Quibi (“quick bites”) is a subscription service for short mobile videos set to launch in about a year. Quibi will deliver daily news and longer features, with production budgets higher than the typical YouTube video content. The app will also feature a control for adjusting screen brightness; videos are shot and edited for portrait and landscape modes. Every major Hollywood studio has invested in a $1 billion seed funding round. Continue reading Quibi Chief Meg Whitman Talks Mobile Content, 5G, eSports

Amazon, Apple Ink Deal to Directly Sell More Apple Products

Amazon inked a deal with Apple to sell more of the tech giant’s products, including the new iPad Pro, iPhone XR, iPhone XS, Apple Watch Series 4, and its Beats headphone line. Amazon will begin listing those products — from Apple-authorized resellers only — in the next few weeks in the U.S., U.K., France, Germany, Italy, Spain, Japan and India. Before this deal, Amazon already directly sold MacBook laptops, Beats headphones and a few other Apple devices. Other products were only available through its third-party resellers. Continue reading Amazon, Apple Ink Deal to Directly Sell More Apple Products

Cloud Services and Advertising Push Amazon to Major Profits

Amazon posted $2.53 billion in profit for the first time, with the highest profit margin ever, the result of the company’s more recent service businesses, including cloud computing, advertising and other services for sellers. The Q2 profit compares to $197 million a year earlier, and represents three straight quarters of profits over $1 billion, forever changing Amazon’s former profile as a company that posts either red ink or bare bones income. Alphabet and Microsoft, however, still deliver much bigger profits. Continue reading Cloud Services and Advertising Push Amazon to Major Profits

Supreme Court Lets States Collect Sales Tax From E-Tailers

The Supreme Court ruled in a 5-4 vote that states have the authority to collect sales taxes from online retailers, even if they don’t have a physical presence in the state. In doing so, the justices closed a loophole that helped Internet sales to grow and also overturned 50 years of its own precedents that banned states from collecting sales tax from companies without such physical presence. The decision did not follow typical ideological decisions, with liberal justice Ruth Bader Ginsburg joining conservative justices. Continue reading Supreme Court Lets States Collect Sales Tax From E-Tailers

FCC’s O’Rielly Asks Amazon, eBay to Remove ‘Rogue’ STBs

FCC commissioner Michael O’Rielly is urging Amazon and eBay to pull listings from their sites for “rogue” set-top boxes that enable consumers to watch pirated TV shows. On Friday, the commissioner sent a letter to Amazon CEO Jeff Bezos and eBay CEO Devin Wenig noting that the STBs in question often falsely feature the FCC logo, and are responsible for encouraging “intellectual property theft and consumer fraud.” O’Rielly recognized that the companies have been working to address the problem, but wrote “despite your good work in this area, devices continue to make it to consumers through your websites.” Continue reading FCC’s O’Rielly Asks Amazon, eBay to Remove ‘Rogue’ STBs

PayPal to Acquire European Payments Startup iZettle for $2.2B

PayPal plans to make the largest purchase in its history: $2.2 billion for Stockholm-based financial tech startup iZettle. The purchase puts PayPal in thousands of brick-and-mortar retail shops around the world, and sharpens its rivalry with Square, which focuses on small businesses with physical locations. Dubbed the “Square of Europe,” iZettle produces technology and devices that allow almost half a million businesses in a dozen European countries, Brazil and Mexico to accept credit cards. Continue reading PayPal to Acquire European Payments Startup iZettle for $2.2B

States Are Battling Sales Tax Loopholes for Amazon Vendors

Starting December 1, shoppers on Amazon will most likely have to pay sales taxes on goods purchased from third-party merchants, in addition to paying tax on those bought directly from Amazon. That’s because, on that date, at least some vendors will begin collecting taxes to receive partial amnesty from back taxes in almost half of the U.S. states, including Florida, New Jersey and Texas. The deadline for the partial amnesty deal is October 17, so it is not yet clear how many merchants will take it. Continue reading States Are Battling Sales Tax Loopholes for Amazon Vendors

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