In today’s top news, PayPal has launched a new fraud protection tool for businesses, and Microsoft acquired AI healthcare tech firm Nuance Communications. Plus, Walmart has brought on Citi exec Julia Unger to lead its financial services unit.
PayPal Introduces New Fraud Protection Tool For Merchants
PayPal is launching a new fraud protection tool, Fraud Protection Advanced, to help protect mid-market and enterprise businesses from escalating digital threats and scams. Using network data and machine learning, the tool will give businesses insights into how they can identify and fight fraud.
Microsoft Acquires AI Firm Nuance In $19.7 Billion Deal
Microsoft’s acquisition of Nuance Communications, totaling $19.7 billion, is its largest since its 2016 purchase of LinkedIn for $26 billion. Nuance will enter the part of Microsoft’s business that serves businesses and governments, and its technology will be incorporated into Microsoft’s healthcare cloud products.
Walmart Taps Citi Exec As VP Of Financial Services
Julia Unger started her first day as vice president of Walmart’s financial services on Monday (Apr. 12). Unger, who spent over two decades at Citi, will report to Executive Vice President and Chief Customer Officer Janey Whiteside.
Fed Chair Powell: Economy Is At An Inflection Point
Federal Reserve Chairman Jerome Powell sees signs for optimism in the economy ahead, thanks to widespread vaccinations and strong fiscal and monetary support — though only if the spread of COVID-19 is contained. He said it is smart for people to continue to socially distance and wear masks.
When Will Consumers Cut The In-Store POS Cord?
Netflix introduced streaming media in 2007 to muted media and analyst response. Fourteen years and tens of millions of millennials and connected devices later, cord-cutting has driven cable TV subscriptions to all-time lows and streaming services to all-time highs. Karen Webster writes that the last 14 months of honing their already perfected digital habits, digital shifters, led by millennials and bridge millennials, are poised to do the same thing – but this time, the cord they’ll cut is the one to the traditional point of sale (POS) in the physical store.
B2B Payments Makes Waves In $167 Billion Global Seafood Industry
The seafood supply chain is undergoing a sea change worldwide, with sellers no longer willing to accept standard 90-day payment terms. In the Global B2B Payments Playbook, Mark Esterhuizen, chief operating officer at digital seafood platform ShoreTrade, explains how digital B2B payments are pushing buyers in the space to adapt as vendors seek options that reduce late payment risks.
For Alibaba, Antitrust Fine Means ‘Pay Up And Move On’
Alibaba is being fined $2.8 billion by Chinese antitrust regulators. The fine is easily digestible, but the question now becomes: What’s next? One thing is for sure – the regulatory gaze over online platforms’ business practices will get a lot sharper.
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