This week’s rundown of new products and updates for ecommerce companies includes cybersecurity, fulfillment, tax reporting, social commerce, resale tools, AI, machine learning, real-time payments, and ecommerce marketing,
Got an ecommerce product release? Email [email protected].
Product Releases: November 27
Walmart introduces Parcel Stations to speed up delivery. Walmart has over 4,000 U.S. stores operating as delivery hubs. The company is now adding parcel stations to its hubs. Parcel stations resemble mini post offices that receive and deliver packages using Walmart’s private fleet to transport online orders. Packages originate in fulfillment centers and move to a sortation center or directly to stores, where they are then delivered to a customer’s home using the last-mile delivery network.
Walmart Parcel Stations
IRS helps casual sellers by delaying the lower Form 1099-K reporting threshold. The IRS has announced a delay of the new reporting threshold for “settlement organizations” — payment apps and marketplaces — for calendar year 2023. Reporting will not be required for 2023 unless the organization receives over $20,000 and has more than 200 transactions in 2023. The IRS is planning for a threshold of $5,000 for tax year 2024 as part of a phase-in to implement the $600 reporting threshold.
U.K.-based fintech Crezco raises $12 million and integrates with accounting platform Xero. Crezco, a U.K. fintech using open banking for B2B invoicing and bill payments, has secured $12 million from MMC Ventures and 13books Capital. Crezco has also integrated with Xero accounting. Crezco’s application will allow small businesses to manage, approve, and pay their bills simply and securely without leaving Xero’s platform.
Security provider CrowdStrike launches on Amazon Business. Cybersecurity provider CrowdStrike has launched Falcon Go, its AI-powered cybersecurity platform for small and medium businesses, now available on Amazon Business. Designed to help SMBs with cybersecurity threats, Falcon Go delivers CrowdStrike’s protection in a simplified package for smaller teams and non-technical users. CrowdStrike says this is its first offering on Amazon’s B2B store and the broadest dedicated distribution channel for CrowdStrike’s SMB offerings to date.
CrowdStrike Falcon Go
TikTok Shop partners with U.K. Royal Mail’s “Click & Drop” service. TikTok Shop has partnered with Royal Mail and its primary shipping solution, Click & Drop. Merchants can integrate Royal Mail’s Click & Drop service with their TikTok Shop account to arrange shipments to customers. Click & Drop will be available to TikTok Shop sellers who install the integration from TikTok’s Service Market in the Seller Center, with merchants also able to set up via Royal Mail.
Paysafe offers network tokenization for merchants with Visa. Paysafe, a multinational online payments company, has extended its collaboration with Visa to integrate Visa Network Tokens as an alternative to primary credit and debit card account numbers. Visa Network Tokens update expired card numbers in real-time, eliminating unnecessary declines and ensuring recurring payment subscriptions remain uninterrupted. The integration allows merchants to access the Visa Network Tokenization Service through Paysafe’s Single Payments API.
Real-time payments platform Volt expands into Australia. Volt, a U.K.-based real-time payments platform, has announced its expansion into Australia. Volt’s gateway will be integrated with PayTo, an Australian digital payment platform that enables consumers to authorize and control payments directly from their bank account. Ticketing platform Megatix is the first merchant in Australia to integrate Volt’s technology. The expansion into Australia follows Volt’s $60 million funding earlier this year.
Volt
Personalization platform Birdseye raises $3 million to help retailers leverage AI. Birdseye, a developer in retail and ecommerce AI, received a seed investment of $3 million from Drive Capital. Birdseye’s platform helps retailers execute hyper-personalized campaigns, matching shoppers with the products they are likely to buy at any given time and price. This technology is powered by an AI algorithm trained on extensive retail transaction data. Through Birdseye’s AI, retailers can also match excess inventory with customers.
Nexi and Microsoft expand partnership for digital payments in Europe. Nexi, a European fintech that supports the global digital economy and payment ecosystem, and Microsoft have expanded their partnership to integrate Nexi’s digital payment services within Microsoft applications. The companies will launch joint go-to-market and communication activities, including partner evangelization and technical training. The integration will start in Italy and extend to other key European markets.
Consumer cashback service CheckRewards receives $1.2 million in funding. CheckRewards, a consumer cashback service leveraging machine learning technology, has received a $1.2 million investment from Mitgo Group, a Germany-based technology company promoting entrepreneurship. CheckRewards is a smart shopping tool that assists with overall budget management, providing access to promotions, cashback rewards for everyday purchases and receipt scans, and expenditure tracking to help manage finances.
Reflaunt and SuperCircle announce joint resale and recycling offering. Reflaunt, a resale technology platform, has partnered with fashion textile recycling platform SuperCircle. The combined offering will enable consumers to resell products through a brand’s website, with Reflaunt handling the resale process and SuperCircle managing the recycling of items unsuitable for resale. According to the companies, integrating resale and recycling services will simplify the process for brands and consumers, offering sustainability and economic value.
Reflaunt
