In today’s top payments news, postponement of the Olympics due to the coronavirus pandemic has resulted in the loss of billions of dollars, and branchless bank Green Dot tapped Dan Henry to step in as CEO.
Dan Henry will step in as the new president and CEO of branchless bank and FinTech Green Dot. He will also join the board of directors.
With the postponement of the Olympics until at least summer of 2021, there is likely to be a race to recoup lost costs — for Japan, the city of Tokyo, sponsors and the athletes.
As food delivery companies are surging in the U.K. in the wake of the coronavirus crisis, a proposed merger between Amazon and Deliveroo is under even more scrutiny. The U.K. Competition and Markets Authority says the merger could hurt competition in the sector. The watchdog also needs to figure out how to move forward against the companies, especially since workers have been designated as essential by the government.
Two weeks into lockdown, brick-and-mortar purchases are down 73.3 percent, but digital purchases aren’t necessarily picking up the slack. What would it take to close this gap? For the Navigating COVID-19 Pandemic Brief: Life On Lockdown Edition, PYMNTS surveyed 1,923 about how COVID-19 has transformed the way Americans shop, pay and live — and what they need to be comfortable getting back to business as usual.
Two things that modern consumers want from any entity that handles their banking needs are physical branches and confidence that firms won’t misuse private data. Barry Baird, head of payments capability and delivery at TD Bank, tells Karen Webster in last week’s live virtual event, “How We Bank,” that those are both areas where traditional banks beat both tech giant contenders and challenger banks. See what you missed.
In coronavirus economic news, initial jobless claims spiked up to a seasonally adjusted 3.28 million for the week ending March 21, according to the Department of Labor — the highest number of initial jobless claims since the department began keeping count in 1967.