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Today In Payments: Bank Of England Ups Monzo's Capital Requirements; DoorDash Launches Digital Convenience Stores

Today in Payments

In today’s top news, the Bank of England upped Monzo’s capital worth requirement, and DoorDash is launching digital convenience stores. Plus, Fiserv reported strong Q2 earnings.

Bank Of England Ups Monzo’s Capital Requirements

Monzo Bank Ltd.,  the London-based online bank, must now have a capital worth of 13.6 percent of its risk-weighted assets to guard against potential losses, an amount the Bank of England (BoE) upped from a 9 percent capital worth.

DoorDash Launches Digital Convenience Stores

DoorDash on Wednesday (Aug. 5) unveiled DashMart, an array of online convenience stores that offer convenience store items like ice cream and chips, along with other products from local grocery stores and restaurants. The digital store will initially be available in eight U.S. cities.

Fiserv’s Bisignano: 'Order Ahead Has Become A Way Of Life'

Reporting revenues of $3.47 billion for its second quarter 2020, Fiserv President and CEO Frank Bisignano said, “We demonstrated the strength and resilience of our business model during the quarter.”

Walmart Parking Lots Become Free Drive-In Movie Theaters

Walmart unveiled the details for its Walmart Drive-in, which will run at 160 locations across the country from Aug. 14 through Oct. 21. The retail giant teamed with the Tribeca Film Festival to organize this series of free events.

New Report: Why It’s Time To Retire The Subscription Paywall

In this month’s Payments Orchestration Playbook, Trevor Kaufman, CEO of SaaS firm Piano.io, discusses the importance of moving past this one-size-fits all approach to one that gauges consumer interest to determine whether paying per month, per piece or something else will maximize conversion.

Bain Capital Technology’s Bet On hey And Japan’s Digital Payments Shift

Japan was home to one of the world’s first mobile-commerce innovations with the DoCoMo mobile wallet in 2004, but the nation’s economy remains heavily cash-based more than 15 years later. Still, Darren Abrahamson, managing director of Bain Capital Tech Opportunities, tells Karen Webster that could be about to change.

Liquor Sales Up, But Glass Is Still Half Empty

Spirits maker Diageo — think Johnny Walker whisky, Tanqueray gin and other popular drinks — took a huge write-down this week amid a big worldwide sales decline. However, alcohol sales are actually up sharply in America. Why the disconnect?

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NEW PYMNTS STUDY: LEVERAGING THE DIGITAL BANKING SHIFT – SEPTEMBER 2020  

The September 2020 Leveraging The Digital Banking Shift Study, PYMNTS examines consumers’ growing use of online and mobile tools to open and manage accounts as well as the factors that are paramount in building and maintaining trust in the current economic environment. The report is based on a survey of nearly 2,200 account-holding U.S. consumers.

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