Nov. 7, 2018

Instacart announced it would expand its mobile app-based Instacart Pickup grocery pickup and delivery service to retailers nationwide, according to a company release. The service allows customers to pay for groceries and tip drivers using a mobile device.

The San Francisco-based mobile delivery provider comes after a pilot program were got feedback from customers on its grocery delivery service. As a result, Instacart officials said the company deepened its relationship with grocery chains including Aldi, Cub Foods, Food Lion, Price Chopper, Publix, Schnucks, Smart & Final, Sprouts, Tops Friendly Markets and Wegmans.

The expanded coverage area includes about 200 stores in  25 key U.S. markets in major metropolitan areas around Atlanta, Boston, Charlotte, Minneapolis, Nashville, San Francisco and Washington D.C.

Customers can place orders online at  www.instacart.com or use the Instacart mobile app, select a city and store, add groceries and then choose a delivery or pickup window, before checking out. Customers will receive an in-app notification, while pickup customers can then send a notification to the Instacart personal shopper alerting them that they are headed for the retail location.

Aldi announced a pilot program with Instacart in September 2017 that followed Amazon's acquistion of Whole Foods and ramped up competition for grocery delivery with Walmart and other retailers. 

Topics: Mobile Apps, Retail

Companies: Instacart, Amazon, Walmart

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Nov. 7, 2018

Desjardins Group, the largest cooperative financial group in Canada, has decided to wind down the operations of Zag Bank, which specialized in online and mobile banking, with a plan to close by the second quarter 2019, according to a company release.

Zag bank employs about 60 people in Calgary, Toronto and Montreal and the bank said they will be given assistance to pursue new opportunities within Desjardins, according to the release.

Zag stopped accepting any new deposits or opened any new accounts as of Monday, and by Dec. 1, customers will high interest savings accounts will have their funds returned. Clients with Guaranteed Investment Certificates will be able to terminate their investments early without penalty. Clients with registered investments, including TFSAs and RRSPs, will be able to transfer those investments to a financial institution of their choice.

Denis Berthiaume, senior executive vice president and chief operating officer of Desjardins, said in the announcement that the company reviewed its operations and "decided that online or direct banking was no longer a strategic fit with our long term strategy."

The company said the impact of Zag Bank’s wind down will be reflected mainly during the third quarter, and represents only about 1 percent of Desjardins' assets. Desjardins originally acquired Zag in 2011, when it was known as Bank West as part of Western Financial Group, and was renamed Zag in 2014. The bank was founded in 2003, but was later converted into a direct mobile-first bank with the 2014 renaming.

Topics: Financial News, Mobile Banking

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