ShopRunner, a Pennsylvania-based members-only online retailer, is closing talks with Alibaba over an imminent investment totalling more than USD70m. ShopRunner, which launched in 2010, offers customers two day shipping from a range of different retailers for a few of USD79 per year.
It is thought that China-based Alibaba is investing in ShopRunner to more effectively compete with Amazon. While at Yahoo! ShopRunner CEO Scott Thomson was one of the key figures in a deal that saw Yahoo! sell half of its back stake to Alibaba for USD7.6bn.
Barclays has signed contracts with six of the fintech startups that just graduated from its second New York accelerator programme.
Company card killer Pleo has raised $3m in new funding as it prepares for public launch in the UK and Denmark.
Cheques are become less and less common in the UK according to new research from global market research firm Mintel which claims contactless card use has overtaken cheque payments in the UK for the first time.
Payments for digital and physical goods made mobile operating system-based payments platforms like Apple Pay and Android Pay are expected to boom in the next few years according to new analysis from Juniper.