Earnings season’s here, with JPMorgan among the most visible names reporting Friday morning (Jan. 12). And the big bank’s metrics are showing evidence that consumer spending is still strong. But as management commentary on the call noted, spending may moderate as it outpaces any momentum in building up deposits. Credit losses are still in a projected range targeted in past earnings commentary. Supplemental materials offered by the company alongside the earnings announcement reported that debit and credit sp ...

From Walmart looking to be a personal shopping concierge to Amazon expanding its Buy with Prime to more platforms and leveraging tech to help consumers manage their healthcare, the two retail giants faced off this week with news of tech with a personal touch that reaches into many parts of consumers’ daily lives.Walmart and Amazon debuted tech at the Consumer Electronics Show (CES) in Las Vegas this week in a digital one-upmanship. Both companies are leveraging innovative strategies, partnerships and techno ...

Every three months, like clockwork, the earnings roll in.And every three months, the big banks usher in the “official” start of earnings season.Will it all begin with a bang or whimper? Friday will tell as J.P. Morgan, Wells Fargo and Bank of America weigh in with the initial salvo of statistics on everything from digital banking to loan performance to consumer spending across debit and credit cards.Consumer Spending in FocusJ.P. Morgan, the behemoth that has roughly 18% of the industry’s revenues under its ...

In recent years, Amazon’s Buy With Prime program has undergone significant expansions, transforming the landscape for both the eCommerce giant and the retailers who join the initiative.What started as a straightforward opportunity for merchants to sell listed products directly from their websites has morphed into a powerhouse of possibilities.  The evolution includes automated marketing integration and partnerships with heavy hitters like Shopify and Salesforce Commerce Cloud, presenting merchants with fres ...

As consumer packaged goods brands look to manage cost inflation, IBM is seizing on the opportunity to drive sales with smarter supply chain solutions.The tech giant announced Thursday (Jan. 11) a partnership with software company SAP on artificial intelligence solutions for CPG and retail industries focused on supply chain, operations and more. These include tools to improve store delivery routes, product portfolios, order settlement and more.“Global and regional consumer industry organizations must manage ...

Microsoft’s AI investments have helped it surpass long-time rival Apple as the world’s most valuable company.Shares in the software company climbed early Thursday (Jan. 11) to bring its market value to $2.87 trillion, ahead of that of Apple, the Financial Times (FT) reported. As the morning progressed, the two companies jumped back and forth between the number one and two spots several times, the report said.Microsoft has benefitted from investor enthusiasm in the rise of generative artificial intelligence ...

Debit card users in nearly a dozen states have been granted the ability to pursue class-action claims against American Express. This follows a Tuesday (Jan. 9) ruling by U.S. District Judge Nicholas Garaufis, Reuters reported Wednesday (Jan. 10). The lawsuit accuses the company of driving up merchants’ fees on transactions, resulting in consumers paying hundreds of millions of dollars in overcharges, according to the report. American Express did not immediately reply to PYMNTS’ request for comment. While cr ...

Amazon is laying off hundreds of employees across its Prime Video and Amazon MGM Studios organization.The cuts follow the organization’s year-long review of every aspect of its business, Mike Hopkins, senior vice president of Prime Video and Amazon MGM Studios, said in a note that was sent to employees on Wednesday (Jan. 10) and provided to PYMNTS by Amazon.“As a result, we’ve identified opportunities to reduce or discontinue investments in certain areas while increasing our investment and focus on content ...

FinTech company Andaria has partnered with Mastercard to strengthen its embedded finance proposition.This strategic collaboration will enhance the quality of Andaria’s card and payment solutions as a principal member of Mastercard, Andaria said in a Tuesday (Jan. 9) press release.As a United Kingdom and European Union (EU) regulated FinTech company, Andaria offers scalable and customized solutions that enable non-financial businesses to integrate payment services into new and existing platforms, reducing co ...

Amazon says it is integrating its Buy With Prime tool with the Salesforce Commerce Cloud.The solution, announced in a news release Wednesday (Jan. 10), lets Salesforce merchants add Buy With Prime to their shopping platforms.“Buy with Prime for Salesforce Commerce Cloud builds on our efforts to help ecommerce businesses drive profitable growth and superior shopping experiences,” said Michael Affronti, Salesforce senior vice president and general manager of Commerce Cloud.“As companies look to scale and driv ...