Today In Payments: Marqeta Preps For IPO, Had $4.3B Valuation In May; Punjab National Bank Faces Third Major Fraud

In today’s top news, Marqeta prepares for an IPO, and Punjab National Bank was defrauded $491 million by one of its customers. Also, WhatsApp Business announces QR codes and a catalog service.

Marqeta Preps For IPO, Had $4.3B Valuation In May

Oakland, California-based issuer processor Marqeta, which is backed by Goldman Sachs, is preparing for an initial public offering (IPO) and seeking out investment banks for advice.

Punjab National Bank Faces Third Major Fraud In As Many Years

Punjab National Bank shares fell by nearly 6 percent late Thursday (June 9) after it was defrauded of $491 million by one of its customers. The failed loan was granted to mortgage lender Dewan Housing Finance Limited, which has faced its own financial troubles.

WhatsApp Business Adds QR Codes, Product Catalogs

Facebook is expanding the capabilities of its WhatsApp Business messaging app, which the company says now has about 50 million users. Facebook introduced a service called WhatsApp Catalogs to help businesses find new customers and announced that it will let potential customers start chats with business using QR codes.

Irish Police Raid Wirecard’s Dublin Offices

The investigation into Wirecard AG, the German electronic payment transfer company, has expanded to Ireland, as police have raided the company’s Dublin offices at the request of German authorities.

New Report: Why Taco Bell Says Personalization Is The Key To Acing The Mobile Order Ahead Experience

Quick-service restaurants (QSRs) must go the extra mile during the pandemic to build loyal customer bases with value-added personalized services, says Zipporah Allen, vice president of digital experiences at Taco Bell. In this month’s Mobile Order-Ahead Tracker, Allen discusses how QSRs can differentiate their mobile ordering and loyalty offerings while keeping fraudsters at bay.

A Digital ID Fix To Closing The Telehealth Security And Patient Confidence Gap

The COVID-19 pandemic has consumers wanting to access telehealth services from the safety of their homes. But the idea of sharing personal health information with an online service is still novel to many consumers, says Sean Mehra, co-founder and chief strategy officer of HealthTap. In this month’s Digital Identity Tracker, Mehra discusses how swift digital ID verification can build confidence in such patients without the massive friction.

Report: Subscription Commerce’s Digital 3.0 Boost

The pandemic is providing at least one bright spot for the economy — robust gains for the subscription business. PYMNTS’ Subscription Commerce Conversion Index, done in collaboration with Recurly, rose during July to its highest level in 15 months. Here are some of the reasons why players from Twitter to Jaguar to Walmart all want their own piece of the “sub comm” economy.