Today there are more brands and products than ever competing for a place in our shopping baskets—organic or non-organic; local or imported; new categories; private label, premium, and name brands. There are also more ways to shop, including online, in store, or various combinations. All of this choice comes at the cost of time, money, and energy. In the average month, you might shop at a half dozen different places for groceries and everyday essentials, like personal and household goods. That’s different store locations, layouts, mobile apps, products, promotions, delivery promises, loyalty programs, and subscriptions, just to fill the fridge and pantry. At Amazon, we’re working to change that. We believe we can make customers’ lives easier every day by offering all the selection they want while making grocery shopping simpler, faster, and more affordable—and even more so for customers who have all of the savings, convenience, and entertainment in a single membership with Prime.…

Alimentation Couche-Tard Inc., the parent of the Circle K convenience-store chain, has raised its offer to acquire Seven & i Holdings Co. Ltd., the parent of the 7-Eleven and Speedway c-store chains, from $14.86 per share or approximately $39 billion, to $18.19 per share or approximately $47.2 billion, about 21%, according to a Bloomberg report. In a “notice regarding media reports” dated Oct. 9, Seven & i President Ryuichi Isaka confirmed the offer, saying that the company has “received a revised confidential, private and non-binding proposal from Alimentation Couche-Tard Inc. As requested by ACT, the company has maintained, and intends to continue to maintain, the confidentiality of its current discussions with ACT at this time. The company will continue to act in the best interest of its shareholders and other stakeholders of the company.” Couche-Tard on Aug. 19 submitted a “friendly,” nonbinding proposal to Seven & i, parent of the 7-Eleven and Speedway c-store…

Commentary by George Lekakis, Senior Banking and Financial Services Correspondent “Given the RBA’s present priority on curbing retail inflation, an emerging question is whether Governor Michele Bullock will be looking to recast the battle over merchant fees as a macroeconomic concern.” Australia’s major banks are prone to boasting about how their investments in new service channels have contributed to a more productive banking system and associated service improvements for business customers. In the payments market, the banks point to their roll outs of digital innovations such as contactless debit and digital wallets as evidence of efficiency gains and service enhancements. However, a case can be advanced that the pricing strategies of the banks in the payments market have actually undermined efficiency in the Australian economy by helping to magnify one of its biggest recent challenges – inflation. While it is true that bank-led innovations widened payment choices for retailers and…

Uncontrolled debit fees adding $12 to a school laptop, and $6.40 for a car service Canberra, 10 October 2024: A list of initiatives to reduce the cost of living were presented to the Government in Canberra today, aiming to slash the price of items purchased on billions of debit card payments at Aussie businesses, and significantly reduce surcharging. Independent Payments Forum (IPF) members joined co-founders Brad Kelly and Warwick Ponder to present the plan to Assistant Treasury, the Hon Stephen Jones, Small Business Minister, the Hon Julie Collins and fee campaigner Mr Jerome Laxale MP. IPF also met with Opposition shadow ministers and their advisers. The 10-point plan presented by the forum would significantly increase accountability and reduce the cost of debit card payments, which are by far the preferred retail payment method in Australia, accounting for 79% of card purchases, or almost 12 billion transactions a year. “Cost of…

The company’s new app is a key part of reaching more customers and improving their bp experience. Even as bp quickly grows its convenience business across the US, it’s remaining customer-obsessed by testing seamless digital products to meet their needs. One of those products is bp’s earnify™ app, which enhances, expands and replaces the BPme Rewards program. But it’s more than just an update, it’s a critical component of the business’s long-term vision. The new app is currently being rolled out, reaching more than 7,000 bp, Amoco and TravelCenters of America locations so far. Here’s how earnify™ works  earnify™ is an app that aims to allow customers to use their digital device to interact with all of bp’s products and services in one place. Much of the US now communicates digitally – think how often you use your smartphone or tablet each day – and bp is leveraging that through earnify™…