I think BOA’s revenues point to an interesting paradox in Fintech; the faster and more efficient Fintech gets, the less money it makes. Digital financial technology makes banks faster and more efficient but they make less money.
The number of PayPal accounts grew from 244 million in 2nd Quarter 2018 to 277 million in 1st Quarter 2019 to 286 million 2nd Quarter 2019, Statista estimates. Thus, PayPal gained nine million accounts in 1st Quarter 2019. Impressively, I estimate PayPal added 26 million accounts between 2nd Quarter 2018 and 2nd Quarter 2019. In addition, Statista estimates PayPal’s peer-to-peer (P2P) app Venmo had 40 million active accounts and a $24-billion net payment volume in 2nd Quarter 2019.
Some Amazon customers can pay utility bills using Amazon Pay with the help of fintech firm Paymentus’s Instant Payment Network (IPN), MarketWatch reports. Amazon claims customers in 95% of US ZIP codes could pay utility bills with Amazon Pay by 2020. Paymentus is a privately held fintech company that operates a bill pay service for PayPal (NASDAQ: PYPL). The fintech market growing fast, Stockrow reports PayPal’s revenues grew by 18.87% in the quarter ending on 30 September 2019.
In addition, the Gnosis team plans a new class of blockchain assets they call conditional tokens. I think the conditional tokens could be Ethereum Request for Content (ERC20) tokens that contain smart contracts linked to “conditional prediction markets.”
Interestingly, Alibaba’s income numbers are similar to Amazon’s. On 30 June 2019, Stockrow gives Amazon a quarterly net of $2.625 billion and an operating income of $3.084 billion. Hence, Alibaba’s income was slightly larger than Amazon’s income.
However, Baidu could have a 93.2% market share in the world’s second largest economy. Trading Economics estimates China had a gross domestic product (GDP) of $13.608 trillion in 2018. Plus, China had an annual GDP growth rate of 6.4% in 2019.
Disney and Target are partnering because they are facing the same aggressive, tech-savvy, and cash-rich competitor: Amazon. The hope is that Target and Disney can drive each other’s sales with synergy.
Many people are asking is Amazon too big because of the sheer size and power of the Everything Store. The most dramatic and dangerous effect of Amazon’s (NASDAQ: AMZN) size…
Amazon Scout; a six-wheeled robot is making deliveries in Snohomish County, Washington State, and Irvine, California, a press release and media reports claim. Interestingly, they design Scout; which is about the size of a baby carriage, to operate on the sidewalks.
A major threat to Family Dollar, and Colgate Palmolive, is Amazon Prime which gives consumers free shipping on all their basic needs for $12 a month. Statista estimates there were 103 million US Amazon Prime subscribers in March 2019 up from 95 million in June 2018. Moreover, Statista estimates the average Prime Member spends $1,400 on Amazon each year. Thanks to Amazon Prime, Americans are more used to shopping online.
Human managers often waste employees’ time with micromanagement, nick picking, needless training, and useless advice. Thus, eliminating managers could make stores more efficient and improve employee morale.
Those who invest for the Retail Apocalypse will make a lot of money because the great die off of retailers is real and getting worse. As of 21 June…