In today's top retail news, Peloton has been subpoenaed by the federal government over its handling of dozens of reported injuries caused by treadmills, and PYMNTS data show that Amazon has held onto its front-runner status over Walmart for the third quarter in a row, though neither company gained or lost much ground. Also, Gap has acquired eCommerce startup Drapr to help remove the friction of finding the right fit online. Peloton Subpoenaed By DOJ, DHS Over Reporting Of Treadmill Injuries Connected fitness giant Peloton has been subpoenaed by the U.

https://www.pymnts.com/news/retail/2021/peloton-government-subpoena-amazon-walmart-revenue-ecommerce/

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Alibaba.com is looking to support U.S. small and medium-sized businesses (SMBs) with the introduction of new dropshipping services and a $500,000 grants program to help existing eCommerce platforms, the company said in a press release on Thursday (Sept. 9). John Caplan, president of North America and Europe for Alibaba.com, said the pandemic threw SMBs into a tailspin and triggered a digital-first mindset that required entrepreneurs to quickly acquire 'new skills, services and capital.' See also: Alibaba Goes up Against Amazon With Livestream Shopping The surge in digital transactions prompted many U.

https://www.pymnts.com/news/ecommerce/2021/alibaba-new-dropshipping-tools-smb-grants/

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Getir, the Turkish grocery delivery app, has now topped $1.1 billion in fundraising with new capital from one of its existing investors, according to a Bloomberg report on Monday (Sept. 13) that cited people with knowledge of the matter. The unnamed investor will reportedly increase its ownership in Getir for $150 million. Getir's valuation almost tripled to $7.56 billion in its most recent investment round. The Istanbul-based company will use the money to expand across Turkey and into other countries.

https://www.pymnts.com/news/investment-tracker/2021/turkish-grocery-delivery-app-getir-adds-more-investment-capital/

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DuckDuckGo, the search engine which puts users' privacy first, completed a $100 million funding round recently, a company blog says. The investors included included OMERS Ventures, Thrive, GP Bullhound, Impact America Fund, Brian Acton, Tim Berners-Lee, Freada Kapor Klein, Mitch Kapor, and others, the blog says. The new finances give the company the ability to keep growing. The company will now be able to advise more users on a new solution for internet privacy. "Privacy is freedom. It treats people like people, not data points, and empowers anyone online to escape manipulation from online profiling," the blog says.

https://www.pymnts.com/news/investment-tracker/2021/privacy-protecting-search-engine-duckduckgo-nets-100m-after-55-pct-traffic-increase/

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Apple CEO Tim Cook criticized the European Union's proposed Big Tech mandates and said the Digital Markets Act (DMA) could hurt the consumer by threatening the security of iOS devices, Apple Insider reported on Thursday (June 17). Although he praised Europe's GDPR privacy regulations, Cook said the DMA would require that Apple allow the side-loading of apps, which could weaken both privacy and security of iOS devices, he said at the Viva Tech conference in France during a virtual interview with India's Brut Media.

https://www.pymnts.com/apple/2021/apple-ceo-tim-cook-criticizes-eus-proposed-tech-mandates/

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San Francisco-based FinTech LendingClub said it had its most profitable quarter in company history Wednesday (July 28) as the newly minted lender completed its first full quarter operating as a digital bank following its $185 million purchase of Radius in January. In announcing its second-quarter results for the three months ended June 30, LendingClub said its revenues grew 93 percent as loan origination fees more than doubled. 'This is the beginning of a dramatically enhanced earnings trajectory for the business.

https://www.pymnts.com/earnings/2021/lendingclub-q2-loan-originations-soar-by-84-pct/

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Petco will begin offering its customers a buy now, pay later (BNPL) option with the help of the Swedish BNPL company Klarna, the pet supply chain said on Thursday (Aug. 5). The new payment option lets pet parents split their purchases into four interest-free installments, paid off over the course of six weeks. Related news: Petco's Revenues Soar Amid Growth In Pet Ownership Petco Chief Digital and Innovation Officer Darren MacDonald said the arrangement will let customers care for their pets, 'whether they're welcoming a new family member, caring for a pet's unique health needs or restocking on the basics.

https://www.pymnts.com/buy-now-pay-later/2021/klarna-helps-petco-enter-bnpl-space/

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United Natural Foods Inc. (UNFI) has signed a reseller agreement with DoorDash to provide on-demand grocery delivery services to independent retailers, according to a press release. UNFI's agreement will help local grocers build an eCommerce and delivery offering, the release stated. It will also help UNFI expand its end-to-end and last-mile delivery systems. DoorDash's addition will allow consumers to order groceries and other items through the app without a time slot, queue or minimum order size, according to the release.

https://www.pymnts.com/news/delivery/2021/united-natural-foods-doordash-team-offer-on-demand-delivery-services-independent-merchants/

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Synchrony Financial posted third-quarter results Tuesday (Oct. 19) that showed improving credit metrics, a ramp-up in consumer spending and increased traction in digital channels. In terms of the headline numbers, adjusted earnings of $1.67 per share topped the Street at $1.49 a share. The consolidated top line was $3.7 billion on an adjusted basis, a bit better than the Street at $3.6 billion. The company said that its average active accounts was up 5% to 67.2 million, while new accounts surged by 17% to 6.

https://www.pymnts.com/earnings/2021/synchrony-sees-improving-credit-metrics-digital-payments-65-pct-total/

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The U.K. Competition and Markets Authority (CMA) is opening a market study to determine if Google and Apple's platform duopoly stifles competition, reduces innovation or results in higher prices for consumers. The British watchdog said in a Tuesday (June 15) press release that the companies have an effective duopoly in several areas — mobile operating systems, app gateways and web browsers. Apple's iOS and Google's Android are the world's foremost operating systems for smartphones. Further, Apple's App Store and Google's Play Store are the gatekeepers for app downloads.

https://www.pymnts.com/antitrust/2021/uk-cma-launches-probe-into-apple-and-google-mobile-platform-duopoly/

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As consumer mobility increases even in the face of ongoing COVID-19 uncertainties, brands and retailers are looking to reconnect with their customers in the physical world. One of the places where businesses are looking to establish this in-person connection is the restaurant — which makes sense, given the central role that food plays in bringing people together. On Monday (Aug. 9), American Express announced an upcoming touring outdoor restaurant event, the American Express Gold Card Pop-Up Diner, which will bring upscale diner foods to four major U.

https://www.pymnts.com/restaurant-innovation/2021/amex-announces-restaurant-pop-up-connected-economy/

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The FinTech IPO Index slid 2.8%, as earnings continued to come in, particularly from companies based overseas. Katapult shares led to the downside through the past five sessions, with shares down 23% during that time. The company said in its most recent earnings announcement earlier in the month that gross originations were $54.7 million, an increase of 18%. Katapult noted that 51% of gross originations for the second quarter of 2023 came from repeat customers. Total revenue was $54.6 million, an increase of 2.

https://www.pymnts.com/news/fintech-investments/2023/earnings-continue-to-dominate-as-fintech-ipo-index-loses-2-8-and-katapult-slides

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Coffee shop Dutch Bros has announced it has filed for a registration statement for an initial public offering (IPO), a press release says. Dutch Bros was founded in 1992, and offers espresso beverages along with other various hot and cold beverages. The release says the number of shares to be offered has not been determined, and neither has the price range. The lead book-running managers will be BofA Securities, J.P. Morgan Securities LLC, Jefferies LLC, Barclays Capital Inc., and Piper Sandler & Co.

https://www.pymnts.com/news/ipo/2021/coffee-qsr-dutch-bros-enlists-jpmorgan-boa-barclays-and-others-as-managers-for-proposed-ipo/

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Rather than bending over backwards to bring consumers to them, restaurants are increasingly investing resources in meeting consumers where they are. In its most literal usage, this takes the form of restaurants delivering to customers' doors more than ever. However, the trend has ripples beyond just the shift to delivery. When it comes to restaurants' physical footprints, for instance, many chains are opening non-traditional locations that make their brands more accessible than ever. WOWorks, for example, is a restaurant group that encompasses a range of quick-growing plant-based fast-casual brands targeting millennial and Generation Z consumers.

https://www.pymnts.com/restaurant-innovation/2021/woworks-redefines-the-grocerant-for-the-2020s/

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Snap has debuted a new map feature to help users discover new businesses, log favorite spots and get personalized recommendations, according to a company blog post. Called My Places, the new feature in Snap Map allows users to keep in touch with people they care about and connect in real life, the post stated. There will be other new features debuting later in the year, with integrations with Layers from The Infatuation and Ticketmaster coming to the app, according to the post. Snap's second quarter revenues boosted by 116 percent, and its tally of active users was also up by 23 percent, sitting at 293 million, PYMNTS reported earlier this month.

https://www.pymnts.com/mobile-applications/2021/snapchat-debuts-personalized-snap-map/

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Square's acquisition of Afterpay is 'all about monetization,' according to Wedbush analyst Moshe Katri, speaking on Yahoo Finance, per Twitter. Square plans to buy Afterpay for approximately $29 billion. Katri said the deal would see the number of active users on the consumer side of the business increasing by a sizable amount. Wedbush Analyst Moshe Katri on Square's acquisition of Afterpay: 'In terms of the strategic rational, this is a transaction that significantly expands the number of active users on the consumer side of the business.

https://www.pymnts.com/buy-now-pay-later/2021/wedbush-analyst-afterpay-deal-may-lead-to-square-super-app-boost-consumer-side/

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Azupay has rolled out PayID powered by Azupay, a new real-time payment option that will integrate with Xero, the company announced Wednesday (August 11). With the new development, small businesses using Xero will be able to take payments in real-time and without the need for customers to enter card details, BSB and account numbers or a separate password each time to make a payment. 'This is a huge win for Australian small businesses, many of whom are struggling in the current climate,' Ian Boyd, director of Partnerships, APAC at Xero, said.

https://www.pymnts.com/news/b2b-payments/2021/azupay-rolls-out-real-time-payments/

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On the heels of a successful public offering, the biggest food-delivery business in the U.S. has its sights set on expanding into Europe, Bloomberg reported Thursday (April 29), citing sources. DoorDash has no presence in Europe and could seek to move into that region either on its own or via the acquisition of smaller rivals competing in the crowded European market. The Silicon Valley startup has already made inquiries, the sources said, per Bloomberg. The food delivery platform is particularly eyeing the market in Germany and the U.

https://www.pymnts.com/news/delivery/2021/doordash-eyes-european-acquisition-or-expansion/

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Some of the country's biggest financial institutions are sitting on a pile of cash and untapped credit, with JPMorgan and Bank of America holding close to $1 trillion in credit commitments, The Wall Street Journal (WSJ) reported on Wednesday (Aug. 4). Bankers are hoping that unused business credit will trigger a spending rush in the months ahead. They also said that companies have been stepping up requests for credit lines, and asking that the credit can be easily tapped for spending on talent, inventory and more.

https://www.pymnts.com/news/banking/2021/untapped-business-credit-banks-cash-pile-trigger-spending-hope/

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The 'over the top' U.K. buy now, pay later (BNPL) startup Zilch has raised $80 million in funding, bringing its value to more than $500 million as it prepares to expand to the U.S. That's according to TechCrunch, which reported Monday (April 19) that Zilch had raised that funding in an all-equity series B led by Gauss Ventures and M&F Fund. Founder and CEO Philip Belamant said in an interview that the company is getting funding from individuals and smaller firms, but that could change in future rounds, the news outlet reported, 'as it looks both to bring in a tier-one debt line, not just to fuel growth in its current market of the UK but to expand to more countries, including the United States.

https://www.pymnts.com/news/investment-tracker/2021/bnpl-startup-zilch-valued-at-500-million-ahead-of-us-launch/

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Both AT&T and Verizon released Q1 earnings this week, and even though both reported financial success, the earnings calls highlighted a difference between the two telecom giants in consideration of their 5G rollouts. During its call, AT&T announced net income totaling $7.5 billion, or $1.04 per share, an increase of $4.6 billion overall and $.63 per share over 2020 figures. Earnings per share were posted at $0.86, beating analyst expectations of $0.78. For its part, Verizon posted a year-over-year net income increase of 25.

https://www.pymnts.com/earnings/2021/verizon-att-announce-earnings-amid-5g-battle/

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Corporate transportation company Gett is closing in on a special purpose acquisition company (SPAC) merger with Rosecliff Acquisition Corp. I, which is backed by Rosecliff Venture Management LLC, people familiar with the situation told The Wall Street Journal for its report Tuesday (Nov. 9).  London-based Gett offers on-demand ride-hailing, taxi and limousine booking options in a single platform, mirroring the multi-pronged offering approach also used by Lyft and Indian ride-hailing company Ola.  The company sees itself as a practical solution for global companies — including about one-quarter of Fortune 500 companies, such as Apple and Coca-Cola — to bring workers to their destinations quickly, especially as many continue working from home at least part-time since the start of the COVID-19 pandemic.

https://www.pymnts.com/news/partnerships-acquisitions/2021/gett-to-go-public-through-1-1b-spac-merger/

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CU Recovery, a PSCU company, has teamed with DCM Services, LLC, which provides data and contact management solutions for the estate and specialty receivables recovery space, according to a Tuesday (June 8) announcement emailed to PYMNTS. The partnership 'grew organically from a synergistic relationship' between the two organizations during the last many years. It will help credit unions (CUs) throughout the country as the two organizations bring together their knowledge in the accounts receivable management (ARM) sector, according to the announcement.

https://www.pymnts.com/credit-unions/2021/cu-recovery-teams-with-dcm-services-on-ar-management/

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Yapily, which works in providing open banking infrastructure, rolled out a new open banking bulk payments service with Comma, a Tuesday (June 8) press release emailed to PYMNTS said. The platform will allow for streamlining the process of bulk payments for U.K. businesses. It will give customers an application programming interface (API) connection which they can use to create a secure, safe bulk payments feature, which can be used by accounting, payroll and bookkeeper clients. It will also help to fix issues in U.

https://www.pymnts.com/news/b2b-payments/2021/yapily-rolls-out-bulk-payments-as-a-service-for-smbs/

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Digital asset marketplace Bakkt has officially launched of its previously announced collaboration with Choice Hotels International to expand the hospitality chain's rewards program, Choice Privileges, through the Bakkt app, according to a Tuesday (Sept. 28) press release. The partnership allows Choice Privileges members to convert their reward points to cash and use that money to buy bitcoin, send it to a friend or family member or use it online or in-store through Apple Pay and Google Pay, the release stated.

https://www.pymnts.com/news/loyalty-and-rewards-news/2021/bakkt-choice-hotels-expand-hospitality-chain-rewards-program/

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