PayPal Monetizing Venmo, Which Now Has 40 Million Users

PayPal Holdings’ Q1 earnings report revealed that 40 million people used its digital money transfer service Venmo in the last year, making it one of the most popular financial apps in the United States. Venmo is also growing dramatically in overall volume with the total number of payments made on its platform skyrocketing 73 percent to $21.3 billion in Q1 2019. Most Venmo transactions are between two people, with the company swallowing the processing fee. But PayPal prizes the app since a younger, more active cohort favors it. Continue reading PayPal Monetizing Venmo, Which Now Has 40 Million Users

Cloud Movie Locker UltraViolet Plans to Close This Summer

Industry consortium Digital Entertainment Content Ecosystem (DECE) plans to shutter the UltraViolet cloud-based digital media locker on July 31. However, users are advised not to delete their accounts. According to the UltraViolet site, “You can continue to access your UltraViolet movies and TV shows through the retailer(s) linked to your UltraViolet Library” between now and the shutdown date, after which, “Your UltraViolet Library will automatically close and, in the majority of cases, your movies and TV shows will remain accessible at previously-linked retailers.” Continue reading Cloud Movie Locker UltraViolet Plans to Close This Summer

Retailers Adopt Software, Chatbots to Hone Customer Service

To battle Amazon’s ubiquity and customers’ fickle loyalty, some retailers are testing the new Customer 360 software from Salesforce.com and Freshworks to improve their customer service. The software lets retailers build shopper profiles similar to Facebook to better understand what each customer wants and increase the odds that he or she will become more loyal to the retailer in question. Other strategies retailers are employing are the use of improved chatbots and better customer support training. Continue reading Retailers Adopt Software, Chatbots to Hone Customer Service

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

Amazon Plans to Beta Test New Display Ad Re-Targeting Tool

Amazon has introduced a new display ad offering that lets retailers in its marketplace follow shoppers as they browse the Internet and attempt to lure them back to buy on Amazon. The tool gives sellers broader reach by letting them bid on ads that will appear on other websites and apps, although Amazon doesn’t specify where. But sellers only pay Amazon when potential customers click on the ads. According to sources, the company is currently inviting a handful of merchants to test the new digital ads later this month. Continue reading Amazon Plans to Beta Test New Display Ad Re-Targeting Tool

Internet Tax Ruling Sets the Stage for Supreme Court Appeal

The South Dakota Supreme Court has ruled that retailers selling goods over the Internet are not required to charge the state’s 4.5 percent tax. The court had examined an appeal brought by online retailers Overstock, Wayfair and NewEgg, which contested the state law that required any company doing more than $100,000 in online retail to collect sales tax. This ruling lays the foundation for an appeal to the U.S. Supreme Court, which can issue a final rule on this contentious issue that would impact retailers across the U.S. Continue reading Internet Tax Ruling Sets the Stage for Supreme Court Appeal

MasterCard Introduces Digital Wallet to Facebook Messenger

MasterCard just added its digital wallet MasterPass to Facebook Messenger, which will let consumers easily place online orders on the service. MasterPass is already available with FreshDirect and Subway, but is in its early stages of rollout. In related news, PayPal Holdings, which last year said would unveil its payment services on Facebook Messenger, will now unveil it on Alphabet’s Android Pay. Visa and MasterCard are also focused on expanding the consumer and merchant use of their digital wallets. Continue reading MasterCard Introduces Digital Wallet to Facebook Messenger

With Nine Retail Bankruptcies in 2017, Levels Approach 2008

So far this year, nine major U.S. retailers have declared bankruptcy, a rate disturbingly close to recessionary levels. Bankrupt retailers include Payless ShoeSource, hhgregg, The Limited, RadioShack, BCBG, Wet Seal, Gordmans, Eastern Outfitters and Gander Mountain. Another trend shows retailers that are hanging on to their businesses closing down stores in record numbers, with more than 3,500 stores expected to close in the next several months. J.C. Penney, RadioShack, Macy’s, and Sears alone will close more than 100 stores each. Continue reading With Nine Retail Bankruptcies in 2017, Levels Approach 2008

U.S. Postal Service to Slash Prices for E-Commerce Retailers

To be more competitive, the U.S. Postal Service will cut its prices by as much as 58 percent on certain Priority Mail packages for retailers shipping at least 50,000 packages per year. Both UPS and FedEx believe the price cuts are an unfair way for the USPS to gain an edge in the e-commerce business. Amazon and USPS already have a partnership to deliver on Sundays, but the two organizations are teaming up again to test grocery deliveries in San Francisco. Continue reading U.S. Postal Service to Slash Prices for E-Commerce Retailers