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Amazon is latest focus of Europe’s tax raid on US tech companies

European Commission

The European Commission (EC) has ruled that Luxembourg illegally let Amazon off €250 million of taxes and must now get them back, reports Telecoms.com (Banking Technology’s sister publication). This is the latest round of a general purge by the EC of European countries effectively bribing US tech companies to use them as their European hub by dangling […]

Alexa’s footprints are starting to appear all over the place

Have I got any money, Alexa?

While Google is doing its impression of a petulant child, storming home from the park with its football tucked under its arm by barring Amazon Echo Show access to YouTube, Amazon has drafted a host of reinforcements for its Alexa offensive, reports Telecoms.com (Banking Technology’s sister publication). For the most part, the majority of the news […]

Bank of Baroda teams with Amazon for SME lending

India

India’s second largest bank, Bank of Baroda, has got itself an “exclusive” micro lending partnership with Amazon. The bank says through this partnership it is running a process for underwriting Amazon sellers “who would traditionally not be able to procure a line at formal financial institutions”. The deal is part of the bank’s ambitions to […]

App it. The future of banking

Paul Rippon, Monzo

This morning I was having breakfast with a colleague. I paid the bill, and he sent me his share of the bill using our Monzo app. Before we’d walked out of the café, the money was in my account. Simple!

Amazon’s Alexa speaks to US Bank customers

Have I got any money, Alexa?

More than a year after Capital One unveiled the feature, US Bank customers still are among the first in the US to be able to complete banking tasks, such as checking an account balance or paying a credit card bill, by speaking a command to an Amazon Alexa device.

Alexa gets into bed with Cortana

Holding hands - DEP

Amazon and Microsoft have announced their previously competing voice-driven artificial intelligence (AI) assistants are now an item, reports Telecoms.com (Banking Technology‘s sister publication). The world can be a lonely place for virtual assistants. All the company they have are demanding millennials constantly asking what their latest email is or a retiree wondering what the weather […]

Amazon enables cash account loads via retail locations

Cash only

In a bid to reach unbanked consumers as well as those who prefer cash, Amazon has debuted a new service that enables consumers to load cash to Amazon accounts at US brick-and-mortar merchant locations and then use those funds to make online purchases through Amazon.

Visa brings more action to Amazon transactions

visa

Visa says it has become the first card network to give its UK commercial account holders a comprehensive view of their Amazon Business purchases. The new transaction data, available to Barclaycard, Citi, HSBC, and Lloyds Bank account holders, provides line-item details on all purchases for Amazon Business customers and integrates with reconciliation tools. Kevin Jenkins, […]

Alibaba targets Amazon with $177m stake in Paytm e-commerce

alibaba 1

India-based Paytm’s e-commerce unit has raised $200 million in a funding round led by Chinese titan Alibaba, with the latter potentially muscling in on Amazon’s arena of action. Alibaba’s Singapore unit will invest $177 million into Paytm E-Commerce, with $23 million coming from Indian venture and growth capital fund SAIF Partners. With the deal Alibaba […]

Amazon looking to buy Capital One?

Acquisition

Amazon is rumoured to be pondering the acquisition of Capital One. Banking Technology contacted both parties for a comment but received no response.

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