Welcome to Five at Five, your late look at payments and commerce news you might have missed. Today’s stories include details about Amazon’s new plans for India, Apple’s new Face ID setting and why Ant Financial is shifting focus. There is also news about the acquisition of Gilt and Delta’s pricing policy.
Amazon May Provide $2B Boost To Investment In India
After committing $5 billion to investments in India, Amazon reportedly wants to increase its investment by $2 billion. With the additional capital, the eCommerce retailer could better compete with Walmart in India.
Apple Adds New Face ID Functionality
Through a new Face ID setting, Apple’s latest iOS 12 potentially allows more than one person to use the feature on a particular iPhone X. In the past, only one user has been able to register their face with an iPhone.
Ant Financial Changes Focus To Technology Services
Amid China’s crackdown on financial risk, Ant Financial is moving away from consumer finance and payments. Instead, it is honing in on technology services.
Rue La La Snaps Up Gilt From Hudson Bay
Hudson’s Bay (HBC) is Gilt’s parent company, and the sale is now the second time in 11 years that the site has been sold to new ownership. The hope, when HBC first bought Gilt, was that it could be useful in boosting online sales.
Why Delta’s CEO Isn’t Sweating Low-Cost Transatlantic Competition
Delta CEO Ed Bastian waved off concerns that the up-and-coming transatlantic discounters might pose a “meaningful risk” to established airlines.
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