*By Chloe Aiello*
Amazon is stepping up its game in the fight against Apple Pay, by migrating its own digital wallet off the web and into the real world.
The e-commerce giant is recruiting brick-and-mortar merchants to accept its digital wallet, Amazon Pay, putting it in direct competition with a host of other companies vying for dominance in the burgeoning digital wallet industry, [according to a report from The Wall Street Journal.](https://www.wsj.com/articles/amazon-pay-accepted-here-web-giant-aims-to-put-digital-wallet-in-stores-1542796827)
Amazon ($AMZN) is reportedly targeting merchants like gas stations and restaurants ー which aren't direct competitors to the tech behemoth. The Wall Street Journal reported that the functionality of the wallet isn’t yet clear, but options for use include enabling users to scan a code on their phones, or tap their devices at check-out ー much like Apple Pay ー among other options. Shoppers can already use their Amazon accounts to check out at select Amazon-owned brick-and-mortar stores, and the company has been experimenting with incorporating Amazon Pay into Whole Foods transactions, [according to the Wall Street Journal](https://www.wsj.com/articles/are-you-ready-for-an-amazon-branded-checking-account-1520251200?mod=article_inline).
Digital wallets still aren't widely used in the U.S., and Amazon is looking to jump into the mix early. It faces competition from rivals, like PayPal ($PYPL), Visa Checkout ($V), Venmo and, of course, Apple Pay.
Amazon did not immediately respond to Cheddar's request for comment.
Longtime Starbucks CEO Howard Schultz is facing sharp questioning before the Senate Health, Education, Labor and Pensions Committee where he is defending the company’s actions during an ongoing unionizing campaign.
Apple Pay is getting in on the buy now pay later boom with a feature allowing users to split purchases into four separate payments over six weeks at no additional cost or interest.
UBS says it’s bringing back former CEO Sergio Ermotti to lead the Swiss bank as it moves forward with a government-orchestrated plan to take over struggling rival Credit Suisse.
San Francisco-based technology startup Illumix just closed a $18 million Series A round of funding, and in a rare move for the Shark Tank star, Mark Cuban contributed.
Austin Graff, founder and CIO of Opal Capital in Austin, Texas, offers his take on why stocks opened higher Wednesday, saying investors appear tentatively optimistic about regulatory actions being taken around struggling banks, even as they remain worried about the long-term consequences of federal action on the sector. "
Credit Suisse violated a plea agreement with U.S. authorities by failing to report secret offshore accounts that wealthy Americans used to avoid paying taxes, U.S. lawmakers said Wednesday.
Stocks are rising Wednesday as Wall Street shakes off a bit more of the fear that dominated it earlier this month.
Honda is recalling more than 330,000 vehicles because heating pads behind both side-view mirrors may not be bonded properly, which could lead to the mirror glass falling out and increase the risk of a crash.
Lyft co-founder Logan Green is stepping down as CEO with David Risher, a former Amazon and Microsoft executive, set to take his place.
PepsiCo just unveiled a new nostalgic logo, and it might look familiar to long-time fans of the bubbly beverage. The new logo is a slightly modified version of the one last used in the 1990s.
