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“#Saks Fifth Avenue owner to split Saks.com into separate business” HBC, the owner of Saks Fifth Avenue said Friday it will split the luxury department store’s website into a separate business from its stores after it raised $500 million. The separation allows Saks.com, which has about $1 billion in annual sales, to raise money to…
“# OLB Group enables crypto payments for thousands of US merchants ” OLB Group (OLB), a New York-based e-commerce merchant service provider, is making it easier for businesses to accept cryptocurrency payments. OLB’s more than 8,500 merchants are now able to accept Bitcoin (BTC), Ethereum (ETH), USDC and DAI at the point-of-sale through the company’s…
“#Amazon skirted regulations to expand reach in India: report” Amazon formed ties to massive e-commerce merchants and skirted regulations to expand in India — hurting the small businesses it has publicly pledged to help, a new report says. Seven years of internal documents obtained by Reuters spell out how Amazon privileged big businesses as Indian…
“#Fake Amazon reviews are being sold in bulk online” Online hucksters are selling Amazon reviews in bulk to help merchants manipulate the e-commerce platform’s rating system, a watchdog group says. British consumer advocacy group Which? found 10 Web sites offering “review manipulation” services that rely on vast networks of users to drum up positive reviews…
“#Ant Group reportedly reaches deal with regulators on restructuring” Ant Group has agreed on a restructuring plan with Chinese regulators under which the fintech giant will become a financial holding company, a person with direct knowledge of the matter said, potentially easing founder Jack Ma’s regulatory woes. The plan calls for putting all of Ant’s…
“#Best Practices to Prevent eCommerce Fraud” The opportunity of cybercriminals to attack online businesses is increasing as online shopping becomes popular. If you possess an online business, you have to protect it from fraudsters who may ruin your reputation, steal from you, and harm your brand. What is eCommerce Fraud? eCommerce is a commercial electronic…
“#Saks Fifth Avenue reportedly plotting spinoff of Saks.com” Saks Fifth Avenue is looking to spin off its dot-com business in a potential initial public offering within a year. The luxury retailer owned by Toronto-based Hudson’s Bay Co. left the Toronto Stock Exchange in March to become a privately held company, but management has prepared materials…
“#Jet.com founder Marc Lore is leaving Walmart” Walmart said its e-commerce guru Marc Lore — who many analysts credit for helping the retail giant compete more effectively against Amazon during the past few years — is leaving the company at the end of January. The executive vice president and chief executive of the US e-commerce…
“#One in five Shopify stores reportedly pose a risk to shoppers” So many scammers and fraudsters have infested Shopify that roughly a fifth of the e-commerce platform’s stores pose a risk to customers, according to reports. An analysis by e-commerce authentication service Fakespot found red flags with nearly 26,000 of the 124,000 Shopify stores it…
“# Digital decentralization is just the beginning. The real world will follow ” Decentralization is not a luxury; it is a necessity. In a prescient article in The Atlantic back in 2012, science fiction writer Bruce Sterling referred to the likes of Amazon, Facebook and Google as “The Stacks,” predicting the insidious power grab that…