The Connected Economy: Amazon Expands Payments

In today’s connected economy, Amazon is reportedly gearing up for its largest-ever rollout of palm print payment technology.

Kohl’s has also expanded its buy-online-pick-up-in-store service to each of its 1,100 stores, and U.S. regulators are proposing tougher regulations for major hedge funds dealing with cryptocurrencies.

Report: Amazon Expands Palm Print Payment Technology to 65 Whole Foods Stores

Amazon is reportedly expanding its store count significantly using Amazon One technology, which allows customers to scan their palms to pay.

The retail giant plans to deploy the technology at 65 additional Whole Foods locations in California, according to a published report.

This is the largest single launch of the technology, which is already being piloted at Whole Foods, Amazon Style stores, Amazon Go and Amazon Fresh stores in Los Angeles, Austin, Seattle and New York.

Kohl looks surpass same-day surge as self-pickup expands

Kohl’s hopes to compete with competitors such as Amazon and Walmart by expanding its online-buy, in-store pickup service at each of its 1,100 stores.

The service will have orders ready for pickup within two hours, according to the department store chain, and customers will be notified and use a one-time code on the Kohl’s app or self-service kiosk to complete the pickup.

Chief Technology Officer Siobhán McFeeney said: “We are focused on listening to what shoppers want and using technology to make it as easy as possible for families to get everything they need through a simple experience. is placed.”

Teaming up with Visa to improve banking on the Box platform

Blockchain lending startup Figure Technologies has teamed up with Visa to offer issuance processor services through Figure’s Banking in a Box online banking platform.

According to the company, Visa DPS is a key part of Banking in a Box, allowing Figure Pay customers to add eligible deposit accounts, payments and cards to online banking, retail and fintech services.

Banking in a Box is a platform built using the Provenance blockchain to replace traditional banking systems and “provide Figure’s customers with zero-cost core system economics,” the company said in a news release. I’m here.

SEC, CFTC Consider New Hedge Fund Crypto Reporting Rules

Federal regulators are preparing to issue proposals requiring hedge funds with more than $500 million in assets to disclose their exposure to cryptocurrencies.

The proposal stems from the US Securities and Exchange Commission’s decision to amend the Form PF, a confidential reporting form.

“The amendments the Commodity Futures Trading Commission (CFTC) is considering jointly proposing with the SEC will strengthen the Financial Stability Oversight Council’s (FSOC) ability to assess systemic risk and strengthen the SEC’s regulatory oversight. It is intended to strengthen private fund advisors and their investor protection efforts in light of the growth of the private fund industry,” the SEC said in a news release.

Deliveroo pulls out of the Netherlands

UK food delivery aggregator Deliveroo plans to close its operations in the Netherlands after failing to secure the top spot.

“Our goal is to reach a top level position in the markets in which we operate. Of course, we are focused on the right hyperlocal position,” said Will Shu, CEO of Deliveroo. He spoke to analysts at a financial results briefing.

“In Holland, it’s clear that we don’t have a strong local presence. We were there seven years too, so I think we had enough time to understand that market.

The company said the Netherlands accounted for 1% of the group’s total trading volume in the first half of 2022, adding that “maintaining a top-tier market position would require a disproportionate level of investment with uncertain long-term returns. We will need it,” he said. Deliveroo aims to scale back operations by the end of November.