It’s the end of the work week, and the PYMNTS Weekender is here to make sure you didn’t miss anything with the latest in payments and commerce news. We have deep dives into opening banking, synthetic ID fraud and supplemental jobless benefits.
Experts Tell House Committee They’re Divided Over $600-A-Week Extra Jobless Benefits
Experts have different views on whether another round of stimulus funding should lengthen the controversial bolstered jobless benefits, according to Thursday (July 23) testimony offered before the U.S. House Committee on Financial Services.
White House, GOP Map Out Next Stimulus Bill
The clock is running for both parties to agree on a stimulus package.
President Donald Trump was expected to meet with U.S. Rep. Kevin McCarthy (R-California), Senate Majority Leader Mitch McConnell (R-Kentucky), White House Chief of Staff Mark Meadows and U.S. Treasury Secretary Steven Mnuchin Monday (July 20) to determine their must-haves for the new legislation.
Nike Restructures Corporate Leadership In Digital Push
Nike unveiled multiple changes to its top leadership Wednesday (July 22) as it seeks to accelerate its digital business as well as streamline customer experiences with a Consumer Direct Acceleration (CDA) roadmap.
Salesforce Boosts Payments Capabilities For Users
What A 90-Year-Old Essay Tells Us About 2020’s Great Digital Shift
Innovations in technology during the past myriad of decades — and its quick growth during the last 10 years — have set the stage for future economic growth and are responsible for the current resilience of our economy.
Trackers And Reports
Scotiabank: Why Banks Need To Rethink Personalization
Digital banking is more popular than ever before, with consumers migrating to mobile and digital channels to steer clear of possible exposure of bank branches. PYMNTS explores how banks are assisting their clients in understanding the features of digital banking infrastructure in addition to the educational and logistical hurdles that banks will encounter in the future.
New Report: Mercado Pago On How Mobile Bridges The LatAm Banking Gap
Nations in Latin America like Mexico and Brazil are still creating open banking rules amid the pandemic. A number of consumers in the region are still unbanked or don’t have access to usual banking products, but smartphone penetration is on the rise.
PYMNTS explores how open banking is developing in Brazil and the region overall.
New Report: How FIs Are Finding Fraudsters Wherever They May Hide
Financial institutions (FIs) have to ensure that they can accurately find scammers and steer clear of inadvertently blocking real users. To accomplish this task, they have to verify ID details, look at the behavior patterns of individuals and examine usage histories of devices with which the would-be clients transact.
PYMNTS explores how device authentication, as well as other steps, can fuel the battle against synthetic ID fraud.
Fun, Cool and Otherwise Interesting
Coca-Cola, PepsiCo Serve Up New Strategies For A Post-COVID World
The carbonated soda category is getting used to change. Shoppers were purchasing less sugary soft drinks when the pandemic impacted the world, but PepsiCo and Coca-Cola Q2 earnings indicate that the two legendary names have to make significant changes.
Is Voice The Ultimate Touchless Payments Experience?
Voice technology was on the uptick even long prior to the pandemic, with a consistently increasing portion of consumers harnessing voice assistants such as Alexa and Siri for various tasks. Once the coronavirus hit, voice technology received a large boost.
Holiday Shopping Season Will Be All About Digital 3.0, COVID Concerns
Walmart indicated this week that its retail locations will shutter for Thanksgiving this year in a far-from-ordinary holiday shopping season. And, for a number of small and medium-sized businesses (SMBs), the holiday season will determine if they remain in business or go out of business prior to 2021.
Airlines Confront Grim Q2 As New COVID Fears Slam Travel Recovery
It was a rough week for shares in airlines as reservations shrunk on renewed COVID-19 concerns. New Transportation Security Agency (TSA) figures this week indicated that travelers through American airport checkpoints had fallen more than 4 percent the week concluding July 19.