Today In Payments: Mastercard Introduces Recovery Insights Tools; Starling Notches $49M In Funding

In today’s top news, Mastercard introduces Recovery Insights tools, Google is mulling a purchase of a share of Vodafone India, and British digital bank Starling has raised $49 million in funding.

Mastercard Debuts COVID-Recovery Data Tools For Business, Gov’t

Mastercard’s new Recovery Insights technology will try to assist companies and governments in assessing information amid the pandemic. Mastercard President of Data and Services Raj Seshadri said in a release, “Enabling smarter decisions with better outcomes is our goal.”

Google Eyes Vodaphone As Part Of India Investment Plan

Google is considering purchasing approximately 5 percent of Vodafone India, which is a partnership between the British telecom firm and the Aditya Birla Group of India.

UK Digital Bank Starling Raises $49 Million In Latest Funding Round

Starling has notched $49 million in a funding round. The latest infusion comes just months after the digital bank took in $74 million from investors, and the company has raised over $443 million as of its 2014 founding.

Uber Says California’s AB5 Law Could Cost 158,000 Drivers Their Jobs

If Uber has to classify its California drivers as employees, 158,000 people will be out of work per the company. Uber has 209,000 drivers in the state, and 76 percent of them are at risk of losing their positions.

How Faster Disbursements Can Help Solve Patients’ Payment Pain Points

Paper-based disbursements sent through the mail are often slow to reach patients, which presents a problem for consumers and their healthcare providers. However, medical providers, hospitals, and insurance companies have been looking into how greater digitalization can speed up patient reimbursements and bolster payment flows.

What Legacy FIs Miss About The Need For Cloud-Based Infrastructure

Consumers expect fast and secure access to digital tools. Banks of all sizes have to craft networks that can handle a daily flood of digital transactions and data requests while keeping a seamless customer relationship. Cloud technologies can support this need, but Bunq CEO and Founder Ali Niknam said banks also have to consider how they are offering these services differently as people become more fully digital clients.