Today In Payments: Banks Wary As Fed And MIT Prep Digital Currency Report; Jumio Lands $150 Million

In today’s top news, Boston’s Federal Reserve and MIT could reveal digital dollar prototypes this summer, and Jumio raised $150 million to expand its digital identity and anti-money laundering (AML) tools. Plus, DoorDash will now deliver COVID-19 testing kits to consumers at home.

Banks Wary As Fed And MIT Prep Digital Currency Initiative

The Federal Reserve Bank of Boston and the Massachusetts Institute of Technology could unveil their research and findings for a digital dollar or Fedcoin this July, and the U.S. financial services sector is getting edgy.

Jumio Lands $150 Million To Expand Digital ID Verification, AML Compliance

Jumio announced Tuesday (March 23) that it has secured a $150 million investment from private equity firm Great Hill Partners. Junio said it is the largest funding round ever in the digital identity space. It will use the money to expand its identity verification tools and AML compliance services.

DoorDash To Begin COVID-19 Home Test Kit Delivery

DoorDash will offer customers in 12 U.S. cities same-day access to COVID-19 home collection kits. DoorDash will deliver Vault Health and Everlywell testing kits from its convenience store, DashMart. They will be eligible for insurance reimbursements.

Peloton Breaks Out Checkbook For AI, Hardware Acquisitions

Peloton has acquired three companies that will give it expertise in wearable devices, artificial intelligence (AI), digital voice assistants and interactive workout mats. The exercise company said the tie-ups are meant to improve both talent and technology.

Report: Donatos Pizza Bakes In Digital ID Tools To Prevent Food Fraud

Consumers are ordering more through mobile apps, and fraudsters have taken note. In the latest Mobile Order-Ahead Tracker, Matthew Coy, vice president of Information Technology for fast-casual chain Donatos Pizza, explained how quick-service restaurants (QSRs) can tap new technologies to guard against credential stuffing and why mobile-specific digital identification measures are key.

Report: Prime Trust Leverages AI To Secure Crypto Exchange Onboarding

Crypto traders are often eager to quickly set up accounts on exchanges so they can begin transacting before prices shift, but platforms risk fraud if they cut corners on know your customer (KYC) checks, said Stephen Cheng, chief compliance officer of financial infrastructure provider Prime Trust. In the Future Of Identity Report, Cheng explained how risk analysis and progressive onboarding can help exchanges balance verification speed with security.

Dollar General Aims For Fresh Produce In 10,000 Stores

Dollar General announced on a call with analysts Thursday (March 18) that it plans to expand its fresh produce offerings to hundreds of stores nationwide, placing the discount chain in even more direct competition with both local grocers and large supermarket chains. By the end of 2021, the chain expects to have produce in 1,800 stores — with plans to expand further.

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