Amazon to pull off digital wallet in India

After being named as the most trusted online shopping brands in India, Amazon announced its plan to create its very own digital wallet in the  country.

Amazon wants to build its own digital wallet to help its restrict access to customer data in the company’s ecosystem and monetize customer insights, the spokesperson of Amazon clarified.

In a statement released by the director of Amazon payment, Srinvas Rao, he said that the company will invest more on building the capabilities to attain their goal. He explained that developing a trusted, frictionless and ubiquitous payments ecosystem is seen to be critical for their customer-centric philosophy.

Initially, the e-commerce giant expressed its intention to land on online payments business as one of its domestic rivals in India had ventured in this sector already . Prior to this, Amazon purchased Emvantage last month. Emvantage is an online payment gateway in India.Similarly, the company’s digital wallet has been in operation in the United States since 2014, however, it was  temporarily closed for six months due to some reasons.

In terms of online payments, the e-commerce company has been looking at multiple acquisitions and it has been tying to figure out what it needs to do, a person knowledgeable about the issue said.

According to an expert, around 15 percent of e-commerce shipments can result into returns as cash-on-delivery (COD) still covers most of the Indian e-tailing transactions in India. During the last quarter of 2015, the number of digital wallet transactions reached 153.11 million compared to the 65.96 million in 2014.

At the moment, Amazon India caters its customers through gift cards as prepaid instruments powered by the QwikCilver Solutions based in Bengalaru.  Speculations said that the e-commerce may acquire the services of QwikCilver in developing its digital wallet system.

Meanwhile, in a survey conducted by TRA (Trust Research Advisory), Amazon was named as the most trusted online shopping brand in India. “When brands display creativity, they demonstrate an ‘intellectual’ ability to deal with the future better,” stated by TRA CEO N Chandraouli.

A representative from TRA told the press that Amazon has 36 percent trust pie out of the 2,500 respondents from 16 cities of India. Amazon is followed by Snapdeal and Flickart. Ebay, Shopclues, Naaptol and Myntra belonged to the top ten trusted e-shopping brands as well. Samsung mobiles was named as the most trusted brand in India.

Amazon’s recent business venture

In other news, Amazon is set to open its newest brick-and-mortar bookstore in San Diego confirmed by Amazon’s spokeswoman Sarah Gelman. The bookstore  is already the second physical bookstore of Amazon in the region.

Aside from the bookstore, Amazon plans to open another  pick-up location in Ohio. The site will be called Amazon @Akron and will be located at East Exchange Street. Aside from the general public, Amazon@Akron targets the students from Univeristy of Akron.

Amazon’s recent rating and figures

Amazon traded lower in the session earlier at $5754.14, 0.41 percent drop. The stock opened at $581.07 with a session high of $581.40 and a session low of $571.06. Currently, the e0commerce juggernaut has a market capitalization of $269.7 billion and a price earnings ratio of 463.77.

The company has a consensus average rating of Buy from from forty-one stock analysts and a consensus price objective of $720.45. It has a 52-week high of $696.44 and a 52-week low of $365.65. Amazon has a 200-day moving average price of $584.70 and a 50-day moving average of $553.40.

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General Motors to sell Buick made in China

The Buick Envision of General Motors will be available in the United States in 2016 after its remarkable sales in China. The model was launched at the Chengdu Auto Show last year.

“We have production already going (in China) and adding a second manufacturing facility for the volumes that we would expect in the USA just wasn’t feasible,” stated by the spokesperson of Buick.

However, United Auto Workers (UAW) union was against with the move of the auto-manufacturer.

According to the president of the UAW, the importing of Envision from China is a slap in the face to US taxpayers and the men and women who worked so hard to save GM during its darkest time.

Although the price of the Envision is not yet revealed, it is expected to be roughly about $35,270.The long wheel base Volvo S60 Inscription was also manufactured in China, but sold in the U.S.

In the news, it is predicted most of the models of Buicks produced in China and Europe will be sold in the U.S.A. in 2017.

General Motors to invest $127M in Indiana facility

General Motors has announced its plan to invest in at its southern casting plant in Indiana. The investment is reportedly about $127.4 million wherein new aluminum engine blocks and components will be produced along with 127 new jobs.

The parts used  in Chevrolet, Buick, GMC and Cadillac vehicles are mainly produced in the south plant. These parts consist of transmission casings, converter housings, heads and small gas engine blocks.

Since 2010, General Motors has invested at least $426 million in Bedford, Indiana. The company will also invest in a dozen U.S. facilities that will create around 3,300 jobs.

General Motors play on ratings

General Motors attained a Strong-Buy rating lately from Vetr and a price target of $40.35. Citigroup Inc. issued a Buy rating and set a price target of $50.00. Zacks Investment Research improved the rating of the auto-manufacturer from a Hold to Buy and issued a price objective of $40.00.

All in all, General Motors gained nine Buy ratings, seven for a hold rating, two Strong-buy rating and only one issued a Sell rating.  The average price objective of the company is $40.55 and a consensus rating of Buy.

The company has a consensensus rating of Buy and average price objective of $40.55. It has a 52-week low of $24.62 and its 52-week high reached $38.99. It’s 50-day moving average price is around $35.60 while the 200-day moving average price is $33.00. The company currently has a market capitalization of $55.21 billion and a price-to-earnings ratio of 13.02.

Last quarter, the firm had earnings-per-share of $1.50 but analysts projected $1.49 EPS before the year ends.

General Motors Company designs, builds, and sells cars, crossovers, trucks, and automobile parts worldwide. The company markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Opel, Holden, and Vauxhall brand names, as well as under the Alpheon, Baojun, Jiefang, and Wuling brand names. It also sells cars and trucks to dealers for consumer retail sales, as well as to fleet customers, including daily rental car companies, commercial fleet customers, leasing companies, and governments. In addition, the company offers connected safety, security and mobility solutions, and information technology services.

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