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Top Payments News: DoorDash Bolsters Its Treasure Chest; Policymakers Target Big Tech Over Data; Feds Probe Debit Card Practices

PYMNTS Top News in Payments

In today’s top news, DoorDash keeps growing and Visa and Mastercard face big questions over their debit card programs. And investors seek late-stage investments.

 

DoorDash Adds Another $100M To $2B Coffer

DoorDash has already raised about $2 billion so far, and it was recently on the receiving end of a $600 million funding round in May, which was led by Darsana Capital Partners. The new capital is courtesy of T. Rowe Price Group, which is investing in DoorDash for the first time as part of the same funding round.

DoorDash has raised about two-thirds of its $2 billion in the last year and a half. The company, which was founded in 2013, has so far been unprofitable, but it has a valuation of $12.6 billion.

Policymakers Press Big Tech On Use Of Personal Data

Big Tech is under siege about its failure to respect users’ privacy as the House Judiciary Committee’s antitrust subcommittee expressed frustration over the companies’ many acquisitions

Investors Raise Billions To Invest In Later-Stage Companies

SoftBank’s record losses from over-valued deals haven’t given investors cold feet, and private funding is going strong. Investors from the U.S. are on course to break fundraising records, with $23.9 billion already earmarked for growth equity funds.

FTC Probing Visa, Mastercard About Debit Card Practices

The Federal Trade Commission (FTC) is talking to large merchants to discover if some retailers are being blocked from routing digital payments over alternative debit networks, sources told Bloomberg.

The inquiry could spell fresh regulatory trouble for the world’s two largest payments processors, which settled a protracted European Union antitrust probe in April this year over card fees.

NEW DATA: Banks Fail To Meet Consumer Desire To Drive Mobile Banking Authentication

Consumers have come to expect specific services and features from their banks. New research conducted by PYMNTS, however, reveals that banks and other financial institutions appear to be lagging in terms of meeting these expectations.

Visa: Using AI To Separate The Good, Bad — From Billions Of Daily Transactions

Three billion credit and debit cards. More than 100 billion transactions, worth more than $11 trillion. That’s the payments volume running over Visa’s global network, a network whose vast global expanse is a tempting playground for cyberthieves.

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