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Top News In Payments: ECB Has Mulled Public Digital Currency; Grab Debuts Numberless Card In Batches

Top News In Payments

In today’s top news, the European Central Bank (ECB) has mulled using a public cryptocurrency if international payments inside of Europe stayed too costly. Also, Grab is introducing Asia’s first numberless card in batches. And Uber CEO Dara Khosrowshahi said the ride-hailing firm could potentially offer courier services for retail companies in the future.

 

ECB Has Considered Crypto to Cut Global Payment Costs

The European Central Bank (ECB) has mulled using a public cryptocurrency if international payments within Europe stayed too expensive. Adoption of a potential public digital currency could reportedly be sped up if there are signs that people are using cash less than usual. The possible crypto would be backed by the ECB and would reportedly have far-reaching implications when it comes to how money is handled at banks.

Expedia Leadership Shake-Up Shows Power of Travel Industry Disruption

Expedia CEO Mark Okerstrom and CFO Alan Pickerill have resigned after a conflict regarding the strategy of the company. Chairman of The Board Barry Diller, as well as Vice Chairman and Director Peter Kern, will oversee the firm’s executive leadership team. Chief Strategy Officer Eric Hart will serve as acting CFO. The role of Ariane Gorin, president of Expedia Partner Solutions, will expand as president of Expedia Business Services.

Grab Launches GrabPay Card

Grab is introducing Asia’s first numberless card in batches, with Singapore rolling out on Thursday (Dec. 5) and the Philippines during Q1 of next year. Mastercard powers the digital GrabPay Card, which offers a seamless payments integration for users as well an expanded rewards system, with a limited promotion giving up to 10x GrabReward points for each dollar spent.

Uber Eyes Retail Delivery

Uber CEO Dara Khosrowshahi said the ride-hailing company could possibly offer courier services in the future for retail companies. Speaking at a meeting at the Economic Club of New York, he said, “We can extend that [food delivery] model to essentially every single local retailer, so that anything you want in New York City can be delivered to you, hopefully in under 30 minutes.”

Inside Chipotle’s Decade of Digital-First Ordering Innovation

Chipotle Mexican Grill was one of the first major restaurant chains to turn to mobile ordering technology to bolster the customer dining experience. Over 10 years later, Chipotle’s mobile investment has paid off, with approximately 18 percent of revenues originating from digital orders. In a feature story, Nicole West, Chipotle’s vice president of Digital Strategy and Product, discusses how the company’s digital ordering menu is just as essential as its restaurant menu.

Curing the $2.4T Manufacturing Sector’s Cash-Flow Crunch

Cash flow issues can put a wrench in a business’ operations. This makes it essential for distributors to have the right cash-receivable solutions in place. Packaging solutions and distribution firm Rocket Industrial, in one case, is using order-to-cash (O2C) solutions to ensure timely payments from its clients. In a feature story, Traci Leffel, Rocket Industrial’s director of finance, tells PYMNTS how O2C solutions can provide peace of mind to distributors when addressing the different payment needs of various clients.

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Featured PYMNTS Study:

More than 63 percent of merchant service providers (MSPs) want to overhaul their core payment processing systems so they can up their value-added services (VAS) game. It’s tough, though, since many of these systems date back to the pre-digital era. In the January 2020 Optimizing Merchant Services Playbook, PYMNTS unpacks what 200 MSPs say is key to delivering the VAS agenda that is critical to their success.

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