Welcome to Five at Five, your late look at the day’s payments and commerce news. Today’s coverage includes Apple’s latest idea, and a new seller solution head for Visa. Postmates gains fresh capital, Goodwill cracks down on counterfeits and biometric providers go for even bigger funding.
The change comes as the Cupertino, California iPhone maker struggles with lackluster sales of the iPhone XR.
The executive is tasked with the development, design and delivery of “new services and solutions that will transform the payment experience for both sellers and consumers,” the company said.
Rival DoorDash notched almost $1 billion in funding last year with SoftBank mega rounds. At the same time, Postmates faces rivals like Square’s Caviar and Uber Eats, which is owned by Uber. The company is still looking toward an initial public offering (IPO) this year.
Entrupy’s solution uses machine learning algorithms and computer vision technology to verify items with 99.1 percent accuracy.
Beyond Megvii, artificial intelligence (AI) startup SenseTime Group Ltd. is also reportedly seeking to fundraise. That company, which provides technology for facial recognition to clients in sectors like retail and government, is reportedly in talks to raise roughly $2 billion.