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Today In Payments: Vroom Teams With Santander For Financing; Uber Eats Grows Business Delivery

Today In Payments

In today’s top news, Vroom has arrived at a multi-year deal with Santander Consumer USA for auto financing, and Uber Eats launched its food delivery services for business around the world. Plus, Starbucks is withdrawing its 2020 outlook.

Vroom Partners With Santander On Auto Loan Financing

Automobile eCommerce platform Vroom has arrived at a multi-year deal with Santander Consumer USA to make auto financing simpler. The two companies said that the new collaboration will make it easier for clients of Vroom to receive a car loan.

Uber Eats Expands Business Delivery As More People WFH

Uber Eats is rolling out its food delivery services for companies around the world on Wednesday (April 8). The growth of Uber for Business comes after an experimental version of the offering debuted in 2018.

Starbucks Expects 46 Pct Q2 Earnings Drop Amid Pandemic

Starbucks is withdrawing its outlook for 2020 as it encounters a forecast 46 percent earnings drop for Q2. Sales in the U.S. first began to fall on March 12 and became worse when indoor seating areas were shuttered due to the coronavirus.

64 Pct Of Consumers Want Government To Save SMBs

The coronavirus lockdown has made businesses throughout all verticals reduce staff or cut hours — and close completely, if (hopefully) temporarily. And 64.1 percent of consumers say they believe the government should offer funding to help SMBs cope with the crisis.

NEW DATA: 60 Percent Of US Consumers Now Live Paycheck-To-Paycheck

The COVID-19 pandemic has led to a wave of business closures that hasn’t been seen before and put millions out of work with no telling when they will be back to business as normal. It has also exposed a deeper challenge with the U.S. economy: Many Americans have almost no savings and are living hand-to-mouth.

Mastercard’s Ethoca On Helping Merchants Grapple With The Upcoming Chargeback Deluge

A wave of chargebacks is headed toward the payments industry, spurred by COVID-19, as all sectors of the worldwide economy have been disrupted.

In an interview with Karen Webster, Johan Gerber, executive vice president of cyber and security products at Mastercard, said many firms are swamped with cancellations and disputes, and with consumer demands to refund money — a trend that will branch out from the leisure and travel sectors and into other segments.

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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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