Today In Payments: Mastercard’s Cyber Secure Helps Fight Cyber Fraud; Amazon Focuses On Fulfillment After Record Quarter
In today’s top news, Mastercard reveals its AI tool Cyber Secure to help banks fight cyber breaches, and Amazon reported record-setting earnings. Likewise, Alphabet reported a strong Q3, thanks in large part to renewed consumer spend.
Mastercard has unveiled its artificial intelligence (AI)-fueled Cyber Secure tool suite, which lets banks evaluate cyber risk throughout their ecosystems and stop possible breaches from occurring.
Amazon reported another record-breaking quarter, but the earnings conference call highlighted a different focus: fourth-quarter delivery challenges. The eCommerce giant has expanded its fulfillment services all year, but still expects the new quarter to be “tight for everyone.”
Alphabet reported on Thursday (Oct. 29) that it enjoyed solid Q3 revenues as consumers began to spend again and advertisers followed by reopening their ad budgets.
Although iPhone sales missed analysts’ expectations, Apple outsold expectations on iPads, Macs and services. The details were scarce, but the continued story may be: Live by the hardware, die by the hardware.
When disaster strikes, nonprofits mobilize to extend grants and funding to partnering businesses, but payments can go awry when they use legacy B2B payment tools to disburse those funds. In the latest Digitizing B2B Payments Tracker, Doug Stockham, president of international disaster relief nonprofit Emergency Assistance Foundation, explains the role of flexible payment technologies in getting money to recipients in their times of greatest need.
The final chapter in the digital banking transformation has not been written. Bruce Lowthers, president of banking and merchant solutions at FIS, tells Karen Webster that the industry needs to create a strong value proposition that goes beyond replacing a paper payment method.
Facebook ad sales were up 22 percent in the latest quarter. But tough comps abound – and 2021 will be marked by regulatory scrutiny and the continued tussle with Apple over ad tracking.