Today In Payments: Apple Seeks Punitive Damages Against Epic; Boston Telemedicine Company Amwell Prices IPO

In today’s top news, Apple countersued Epic Games for punitive damages, and telemedicine company Amwell priced its initial public offering (IPO). Plus, Grab is in talks with potential investors to raise up to $500 million.

Apple Seeks Punitive Damages In Battle Against Epic Games

After Epic Games asked a California judge to reinstate Fornite in Apple’s devices, Apple has filed a counter-lawsuit accusing Epic Games of greed and deceit in the fight over the iPhone maker’s App store.

Boston Telemedicine Company Amwell Prices IPO

Amwell, the Boston-based telemedicine company, is planning to go public as the demand for virtual healthcare offerings skyrockets amid the coronavirus pandemic. Amwell plans to raise between $490 million and $560 million.

Report: Grab In Talks To Raise Up To $500M

Grab Holdings Inc., the $14 billion global ride-hailing company based in Singapore, is seeking to raise as much as $500 million to boost its financial services division. Potential investors include Hong Kong-based AIA Group Limited, the publicly-traded life insurance group and Prudential PLC, the British global life insurance and financial services company.

Klarna’s Value Hits $10B With Latest Investment Round

Swedish FinTech Klarna is aiming to raise $500 million as it looks to fuel the expansion of its growing digital payments and online shopping business in the U.S. market. The new round of funding values Klarna at a hefty $10 billion.

New Report: A Merchant's How-To Guide To Reopening Retail Stores

For many small and medium-sized businesses (SMBs), surviving the pandemic has forced a transformation of their brick-and-mortar stores into virtual showrooms. But simply enabling consumers to shop online doesn't cut it when they want to pick up and inspect products at physical stores. In this month’s Small and Medium Business Reopening Report, Strictly Bicycles President Nelson Gutierrez explains how offering contactless payment options is helping bridge the online and in-store retail divide.

How Music Retailers Keep Card-Not-Present Fraud From Sounding A Sour Note

The $4.19 billion musical instrument industry has a growing fraud problem. As consumers go online to shop, card-not-present (CNP) fraud attempts are rising with victims being charged for high-price instruments and fraudsters reselling them on black markets, says musical instrument and equipment retailer Sweetwater’s Chief Digital Officer Mark Clem. In this month’s Next-Gen Debit Tracker, Clem discusses how combining digital footprint and behavioral analysis with public record research can help detect fraudsters and counter CNP fraud.

Where People Spent Stimulus Payments – And Where They Didn’t

A recent report finds that recipients of the initial $2.2 trillion in stimulus checks tended to use those payments to bolster their savings or pay down debt.



About: Accelerating The Real-Time Payments Demand Curve:What Banks Need To Know About What Consumers Want And Need, PYMNTS  examines consumers’ understanding of real-time payments and the methods they use for different types of payments. The report explores consumers’ interest in real-time payments and their willingness to switch to financial institutions that offer such capabilities.