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Today In Payments: Visa Sees Gains In Online, Contactless Transactions In Q2; Starbucks Rewards Members Drop To 16.3M

Today in Payments

In today’s top news, Visa reported mixed Q2 earnings, and Starbucks reported a drop in rewards members in its Q3 earnings. Plus, Mastercard offers concessions over Nets deal to win antitrust approval.

Visa Sees Gains In Online and Contactless Transactions In Q2

Visa reported Tuesday (July 28) that its second-quarter results suffered from plummeting consumer spending amid COVID-19, although the pandemic did boost online spending and contactless cards.

Starbucks Rewards Members Drop To 16.3M Amid Pandemic

Starbucks reported in its third quarter earnings results on Tuesday (July 28) that the ranks of its 90-day active Starbucks Rewards members dropped 5 percent year over year in the U.S. to 16.3 million because of “reduced customer frequency.”

Mastercard Says It Will Bend To Win EU Approval For Nets Deal

Mastercard Inc. is offering concessions in an effort to defuse the European Union’s antitrust concerns about its planned acquisition of Nets Group, the Scandinavian payment firm.

Senators Want New PPP Program With Different Guidelines

It’s looking increasingly likely that Congress will vote on a new round of COVID-19 stimulus funding, with the Paycheck Protection Program (PPP) an increasing area of focus. The latest plan put forward by Senate Republicans calls for a fresh round of funding for PPP loans, although this time with somewhat narrowed eligibility criteria.

Mastercard’s Head Of Innovation: How The Microsoft Partnership Will Boost Digital Commerce Globally

Mastercard and Microsoft share many goals when it comes to building a bigger future for digital commerce and making it more accessible to consumers worldwide. Ken Moore, head of Mastercard Labs, tells Karen Webster a recently announced collaboration between the two is a natural way to combine their respective strengths and create solutions on a truly global scale.

What To Expect From Big Tech’s Fab Four Capitol Hill Grill

Today marks a red letter day for Big Tech. The heads of Google, Amazon, Apple and Facebook will appear (virtually) before a House subcommittee that’s examining online platforms. Lawmakers and regulators have been scrutinizing these marquee names’ business efforts, training laser sights on what they deem to be anti-competitive practices. But is all the finger-pointing misplaced?

The Coming World Of Going To The Movies … In Your Living Room

AMC Entertainment Holdings has reached agreement with Universal Studios allowing films go to premium video-streaming services after just 17 days in cinemas.

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PYMNTS TV LIVE OCTOBER SERIES: B2B PAYMENTS 2021 – WHAT WILL YOU CHANGE? 

Banks, corporates and even regulators now recognize the imperative to modernize — not just digitize —the infrastructures and workflows that move money and data between businesses domestically and cross-border. Together with Visa, PYMNTS invites you to a month-long series of livestreamed programs on these issues as they reshape B2B payments. Masters of modernization share insights and answer questions during a mix of intimate fireside chats and vibrant virtual roundtables.

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