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.
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 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.
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 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.
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.
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.
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?