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Top News In Payments: Stripe Rolls Out Stripe Capital; Cards Generate $6.13T In Spending

Today In Payments

Today in the payments news roundup, Stripe launched Stripe Capital to simplify the way internet companies can access funds. Also, commercial and consumer cards issued in the U.S. generated $6.13 trillion in spending on goods and services last year. And General Motors (GM) reportedly plans to add Google apps capability to its cars in 2021.

 

US Payment Card Market Tops $6T

Consumer and commercial cards issued in the U.S. generated $6.13 trillion in spending on goods and services last year, per The Nilson Report. Commercial card spending has increased by 11.7 percent compared to consumer card spending, which grew by 10.1 percent.

GM Cars to Be Powered by Google in 2021

General Motors (GM) reportedly plans to add Google apps capability to its cars in 2021. Chevrolet, Buick, Cadillac and GMC vehicles will have in-car voice, navigation and other functions enabled by Google. 

Stripe Gets Into Lending

Stripe unveiled the rollout of Stripe Capital to simplify the way internet companies can access funds. Will Gaybrick, Stripe’s chief product officer, said in a post, “Stripe Capital makes it easy for internet businesses to get the funds they need, when they need them.”

Facebook Launches Dating Service in the US

Facebook has rolled out Facebook Dating, which is designed to give users “a more authentic look at who someone is.” The service is launching in the U.S. as well as in 19 other countries: Mexico, Canada and Peru, among others. It will reportedly be available in Europe by early 2020.

Report: Inside Australia’s Push for a Safe and Trusted Digital ID

The use of digital identities is becoming commonplace, and consumers are largely satisfied with their presence. They are also growing more popular among world governments. Australia, Thailand, Malaysia and the United Kingdom are a handful of nations that are exploring the benefits.

Payments and Peloton’s Plans to Go “Beyond the Bike”

Peloton combines its own hardware, software and subscription model to try and win over exercise-minded consumers. It’s an effort that could shed light in the coming years on the future of connected devices and the development of the Internet of Things (IoT). In a new PYMNTS conversation, Karen Webster and Dan Burkhart, CEO at Recurly, discuss how Peloton fits into the larger world of digital payments and commerce.

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PYMNTS STUDY: THE CROSS-BORDER MERCHANT FRICTION INDEX – JUNE 2020

The PYMNTS Cross-Border Merchant Friction Index analyzes the key friction points experienced by consumers browsing, shopping and paying for purchases on international eCommerce sites. PYMNTS examined the checkout processes of 266 B2B and B2C eCommerce sites across 12 industries and operating from locations across Europe and the United States to provide a comprehensive overview of their checkout offerings.

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