It’s the end of another work week, and the PYMNTS Weekender is here to catch you up on the latest news. We have deep dives on Main Street, disbursements and quick-response (QR) code payments.
Apple Pay Eyeing QR Code Transactions
Users of Apple Pay might have the ability to harness a Wallet app function in the near future to make payments with the help of a QR code. The new way of paying would reportedly not necessitate near-field communication (NFC).
Berkshire Hathaway Sells $2.5B Stake In Wells Fargo
Warren Buffett has decreased his firm’s investment in Wells Fargo & Co. once more. Berkshire Hathaway now has ownership of 138 million shares in the bank for a 3.3 percent stake, marking a decline from over 8 percent in 2019.
Visa, PayPal Expand Global Real-Time Payments Partnership
PayPal and Visa have expanded methods for individuals and small to medium-sized businesses (SMBs) to move money in an expedient manner. The worldwide collaboration will bolster the sending or receipt of money via Venmo, Xoom or PayPal.
Mastercard Leads New Central Bank Digital Currency Test Platform
Mastercard has unveiled a new Central Bank Digital Currency (CBDC) test platform. The technology lets banks simulate the creation, distribution and trading of CBDCs between financial service companies, banks and individuals.
Klarna Debuts Social Shopping In The UK
Trackers and Reports
NEW DATA: The State Of Main Street Businesses Six Months Into The Pandemic
The coronavirus pandemic has stretched Main Street to its financial limits. Not only do three-quarters of all companies on Main Street indicate that they are still grappling with decreased revenue because of the health situation, but a number of them have had to take further palliative steps to have their cash flow stay in check.
New Data: Three-Quarters Of US Consumers Show Concerns About Using Face ID When Opening Accounts Online
A number of financial institutions (FIs) are looking for novel and engaging ways to verify identity, particularly as many consumers feel that it is very important for FIs to provide touch-free ways to open or access their accounts.
The Number Of Disbursements Is Increasing, The Number Sent Instantly Barely Breaks 10 Percent (One Disbursements Adoption Report)
The manner in which consumers get disbursements stands in strong contrast to how a number of them make payments in the present day. Just 13 percent of consumers receive disbursements via instant payments to digital wallets or credit, debit or prepaid cards as of now.
Fun, Cool, and Otherwise Interesting
Why Buy Now, Pay Later Is Sweeping The Globe
Buy now, pay later (BNPL) offerings have made a formidable showing internationally in recent months as consumers change their purchasing and spending behaviors due to the coronavirus and the resulting global economic malaise.
Black Friday 2020 Takes On New Forms To Adapt To COVID-19
COVID-19 might quicken the demise of Black Friday as it is currently known, just as it has hastened the use of new online shopping technologies.
Six Months Into Pandemic, Taking The Pulse Of Main Street SMBs
PYMNTS periodically asks over 500 SMB owners for their take on the state of the future of their business prospects, how they have handled difficulty and planned, and what might be in store.
The sentiments have been solemn, but they are not without hope or what could be referred to as optimism.
The Pandemic And The Side-Hustle Renaissance
A number of American workers have made what can be best referred to as a “side-hustle renaissance,” with various kinds of gigs completed by very different types of workers than in prior years.