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Top News In Payments: Grubhub Denies Sale Rumors; PayU Acquires India FinTech PaySense

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 Denies Sale Rumors Amid Stock Drop

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.

PayU Buys Majority Stake in India FinTech PaySense

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.

US Chamber Leader Criticizes Presidential Candidates

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.”

WeChat Pay Service Simplifies Cross-Border Tuition for Chinese Students

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.

Why an API May Be the Ticket to Solving Public Transit’s Cash Flow Jam

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.

Visa: Road-Tripping into Connected Commerce’s Future

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.

As Amazon Re-Enters High Fashion, New eChallenges Abound

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.

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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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