News

Apple’s Missed Shot, Marcus Loss And Fraud Prevention Top Week’s News

Life is never boring in the world of payments and commerce, and the newest edition of the PYMNTS Weekender report is proof of that. This week’s coverage includes a deep dive into a big potential misstep for Apple, woes at Goldman’s Marcus, a new Visa expansion effort and a look at how Google Maps can predict the future of payments.

Top Stories

Visa Powers Revolut’s Global Expansion Into 24 New Markets

Once upon a time in the 1960s, banks were building a series of one-off card-based solutions, much the way today in the ending days of the 2010s we see global digital banking, mobile wallets and alternative underwriting schemes building one-off tech-based solutions for financial services products.

Goldman’s Marcus Has Lost $1.3B Since 2016

Startup Marcus — named after Goldman Sachs’s 19th-century immigrant founder — went after deadbeat borrowers without the benefit of a collections staff, sources told the WSJ.

Uber Launches Uber Works To Connect Workers To Gig Jobs

The Uber Works app is being tested in Chicago and will show available shifts companies are looking to fill with temporary workers.

Instant Payments Are Here — How To Measure The ROI …

There are many ways a firm can measure the value of instant payments, and determine how much of a return on investment (ROI) it can expect to reap.

Apple — Phone Home

The tech giant  seems to have missed one of the most important anchors of connected commerce — the home — along with trendlines that suggest the smartphone is slowly becoming less central to the consumer and the commerce experience.

Trackers and Reports 

Chase On Using Machine Learning To Crack Fraud’s Goldilocks Conundrum

The global threat of fraud shows no signs of slowing down. Losses related to fraud are valued at $14.7 billion, according to the most recent DataVisor Fraud Index Report. As fraudsters become increasingly aggressive, new global regulations and solutions are being deployed to keep consumers, merchants and banks safe.

Rakuten On Growing Demand For Instant Rebates

Consumers are no longer willing to wait for even the simplest of disbursements. Whether they’re waiting to receive government payments, wages or rebate checks from online retailers, consumers increasingly demand that funds be sent instantly. Businesses, banks and payment providers worldwide are innovating the way disbursements are sent and received to better serve the needs of this group of  consumers.

Inside Taco Bell's Omnichannel Overhaul

Many restaurants are realizing they need to provide their customers with delivery options to tap into the market’s full revenue potential, and are partnering with third-party delivery services to give customers the option to order their favorite meals, while raking in extra revenue.

Fun, Cool and Otherwise Interesting

Mastercard: Fraud-Fighting’s New Mantra — Test, Protect, Prevent

The competition between cybercriminals and the fraud and security teams at banks, tasked with stopping their attacks, is incredibly lopsided.

How Google Maps Predicts The Payments Future

If you really want to understand human nature — really gain a deep sense about how people operate, and where they want to go — you could do worse than to study maps.

Beyond WeWork’s Flameout, Real Estate’s Platform Model Rework

The decision to not list shares amid a game of “how low can they go” — rapidly reduced valuations highlighted a desperate bid to find out where Wall Street would finally lend its support ­— may signal that the age of high-flying unicorns is over.

Taking Stock Of Libra’s Vital Signs

With the recent news that some of Libra’s backers are, at least for now, shying from vocal support for the Facebook cryptocurrency project, it’s worth taking stock of Libra’s vital signs.

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NEW PYMNTS STUDY: LEVERAGING THE DIGITAL BANKING SHIFT – SEPTEMBER 2020  

The September 2020 Leveraging The Digital Banking Shift Study, PYMNTS examines consumers’ growing use of online and mobile tools to open and manage accounts as well as the factors that are paramount in building and maintaining trust in the current economic environment. The report is based on a survey of nearly 2,200 account-holding U.S. consumers.

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