In today’s top news, Grubhub denies claims that it is considering an acquisition, triggering a 6.7 percent drop in share prices, and Netherlands payments firm PayU buys a majority stake in the India FinTech PaySense. Also, U.S. Chamber of Commerce leader criticizes presidential candidates for proposed policies that “go after corporations.”
Grubhub is denying claims that it is considering an acquisition, despite rumors that executives from Walmart, Kroger, Albertsons and Ahold-Delhaize were pondering an acquisition of the food delivery startup. The news triggered a 6.7 percent drop in share prices.
Netherlands payments firm PayU announced on Friday (Jan. 10) that it is acquiring a majority equity stake in PaySense with the intention of merging it with the Indian consumer lending business LazyPay. The acquisition is valued at $185 million.
Tom Donahue, head of the U.S. Chamber of Commerce, criticized presidential candidates on their proposed policies concerning Medicare and taxing of the wealthy. Donahue warned candidates that it is dangerous to “go after corporations.”
Tencent’s WeChat Pay rolled out a payment service for Chinese students attending universities in South Korea, which will make it easier to pay their cross-border tuition fees. The new service is currently available for 11 universities.
Most transit systems still rely on old-school physical checkout registries and fare boxes, creating data and cash flow issues. In the latest Intelligence of Things Tracker, Eric Kaled, president of smart fare solutions provider Genfare, discusses the viability of APIs to optimize transit services, and why a one-size-fits-all approach to APIs doesn’t work.
Vehicles today are much more than a mode of transport—they’re software on wheels. As voice-powered connected commerce continues to gain steam, PYMNTS spoke with Olabisi Boyle, VP of Internet of Things at Visa, who gave a navigational guide for reaching the seamless, connected ideal for payments and commerce.
Amazon is planning to launch a luxury fashion platform in the beginning half of 2020, an initiative it first attempted without success in 2012. Now with nine years of advanced technology, along with more demanding consumer desires and expectations, the eCommerce giant faces a whole new slew of challenges—and competition.