Today In Payments: FBI Issues Warning To Bank Mobile App Users; New Funding To Make DoorDash A $15B Company

In today’s top news, the FBI warns users to beware of cyberattacks, and DoorDash is expected to receive new funding that will value the company at $15 billion. Plus, Quicken Loans may be preparing an IPO.

FBI Issues Warning To Bank Mobile App Users

As the use of mobile banking apps surges due to the limited access to banks amid the COVID-19 pandemic, the FBI is warning users to beware of cyberattacks. Researchers found the number of mobile app users has risen by 50 percent compared to a year ago, and banking apps can easily be exploited during app downloads.

New Funding To Make DoorDash A $15B Company

DoorDash Inc. is expected to receive new funding that would value the nation’s largest on demand meal delivery company at $15 billion even before the deal closes. The San Francisco-based company plans to sell hundreds of millions of dollars of equity to its backer T. Rowe Price Group Inc., Fidelity Investments and others.

Quicken Loans May Be Readying IPO

Mortgage lender Quicken Loans, one of the largest lenders in the United States, might be planning to go public. The company has filed its initial public offering (IPO) prospectus in secret, although it may become public next month, according to sources. The target valuation could be in the tens of billions of dollars, making it one of the largest IPOs filed in 2020.

Instacart Raises $225M At $14B Valuation

Instacart’s valuation is now almost $14 billion after a new funding round that raised $225. The company has doubled the size of its customer base, now offering services to more than 500,000 people who need groceries delivered to their door.

New Report: How Fake Reviews Hurt Restaurants’ Mobile Ordering Volumes

A third of consumers refuse to order from restaurants that rate less than four stars on online review sites — even though lots of reviews are fraudulent. In this month’s Mobile Order-Ahead Tracker, PYMNTS talked to bartaco Co-Founder Scott Lawton about how quick-service restaurants (QSRs) can prevent fake reviews from impacting their mobile order-ahead volume.

New Report: Sam’s Club On Bringing The Digital Shift To Warehouse Stores

The past few months have brought profound changes to many aspects of consumers’ lives, not the least of which is where they get their food. With many restaurants closed, consumers are shopping for groceries more than ever — with big assists from their mobile phones, says Eddie Garcia, Sam’s Club’s chief product officer. In the inaugural edition of our How We Eat Tracker, Garcia discusses the growing use of scanning apps, and how mobile is transforming grocery shopping for the better.

US Debt Swells In Battle Against COVID-19 — And Bumps Lie Ahead

In the United States, nonfinancial business debt surged in the first quarter as companies grappled with the mounting effects of the coronavirus. The Federal Reserve said firms tapped loans and issued corporate bonds in the first quarter at an annualized 18.8 percent rate, the sharpest surge since record-keeping began in 1946.


New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.