In today’s top news, Amazon reported record profit in its first-quarter earnings, and Mastercard’s quarterly earnings showed a continued surge in debit spending. Plus, PayPal users can now link their wallets to Coinbase to purchase cryptocurrency.
Amazon reported record sales and profits in its first-quarter earnings report on Thursday (April 29), counting over 200 million paid Amazon Prime subscribers and revenue growth of 44 percent. However, the retail giant also said it expects to see the Q2 revenue growth rate slow to between 24 percent and 30 percent.
Mastercard’s latest results show a continued surge in debit spending; credit, relatively flat, is ready for a rebound. Cross-border headwinds have been muted, and April’s spending patterns seem turbo-charged.
PayPal is working with Coinbase to broaden the embrace of crypto, making it possible to pay for crypto using a PayPal account. Boosting payment options may increase consumers’ comfort with making the plunge and buying bitcoin, among other cryptos.
U.S. Labor Secretary Marty Walsh — former mayor of Boston — said gig workers should, at times, be classified as employees entitled to sick time, healthcare and paid time off, in an interview with Reuters. Walsh said the labor department is still probing the issue.
Small businesses are rapidly realigning themselves for the needs of the digital-first consumer who still wants to support her local shops. Using data from a global PYMNTS SMB study done in collaboration with Cybersource, Vice President of SMB Solutions Tom Haymore shares how SMBs the world over are embracing new tech and channels to capture their spend.
As the connected economy takes shape, banking, payments and merchant ecosystems are exploring new ways of aligning their capabilities with the one thing they all have in common: the customer. Doug Brown, president of NCR Digital Banking, says that focusing on that commonality can turbocharge the delivery of a fluid omnichannel commerce experience.
With buy now, pay later appearing on more and more websites and apps — and offered by a bevy of global providers — consumers in general, and millennials in particular, are establishing patterns vital to its future. New PYMNTS data explains who’s using what and why.
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