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Today In Payments: Alibaba’s Ant Group Plans Hong Kong IPO; DOJ Looks Into Possible Wirecard Role In Fraud

Today in Payments

In today’s top news, Alibaba’s Ant Group plans to go public, and the U.S. Department of Justice is investigating Wirecard’s possible role in a purported $100 million bank fraud case. Plus, Walgreens will open in-store doctor offices.

Alibaba’s Ant Group Plans Hong Kong IPO At $200B+

Ant Group, the online payment service affiliate of China’s Alibaba Group Holding Ltd, is looking to go public as early as this year. The company is seeking to raise its valuation to more than $200 billion.

DOJ Looks At Possible Wirecard Role In Purported $100M Bank Fraud

Adding to the series of legal difficulties for Wirecard, the Justice Department is looking to see if the German payments company had an essential part in a purported $100 million bank fraud case involving a digital cannabis firm.

Walgreens Teams With VillageMD To Offer In-Store Health Clinics

Walgreens Boots Alliance is teaming up with Chicago-based VillageMD to offer full-service doctor offices in its stores. The move comes against the backdrop of an U.S. healthcare system in upheaval from the COVID-19 pandemic.

Walmart Forms Company To Sell Insurance Amid Healthcare Push

As it grows its healthcare offerings beyond low-cost clinics and technology to help patients manage their medications, Walmart has formed a new company to sell insurance policies called Walmart Insurance Services LLC.

New Report: Why FIs Are Taking A Behind-The-Scenes Approach To Fighting Fraud

In the latest FI Fraud Decisioning Playbook, Ryan Leblond, manager of fraud prevention for ELS Federal Credit Union, explains how behind-the-scenes security like voice-printing and customer behavior analysis can help FIs thwart bad actors without making demands on legitimate customers.

New Report: Self-Serve Onboarding Helps Real Estate Firms Take The Digital 3.0 Leap

In the latest Digital Consumer Onboarding Tracker, Colin Wiel, chief technology officer at property-management firm Mynd, discusses how embracing self-serve digital onboarding is crucial for real estate firms looking to make the digital leap amid the pandemic.

CFPB Payday Loan Changes Scrap Ability To Repay Requirement 

Earlier this week, the Consumer Financial Protection Bureau issued its final rule on payday lending, revoking the requirement that lenders must make sure that borrowers could satisfy the terms of those loans, known as “ability to repay.” The announcement has sparked debate, condemnation and support.

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New PYMNTS Report: The CFO’s Guide To Digitizing B2B Payments – August 2020 

The CFO’s Guide To Digitizing B2B Payments, a PYMNTS and Comdata collaboration, examines how companies are updating their AP approaches to protect their cash flows, support their vendors and enable their financial departments to operate remotely.

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