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 global fruit supply chain technology, account takeovers (ATOs), and news on stimulus checks.
McConnell: Stimulus Checks An Option For Low-Income Workers
Mitch McConnell, the U.S. Senate Majority Leader, said he could be open to further stimulus checks for people, noting that the most impacted workers make approximately $40,000 annually or under and a number of them are in hospitality.
“The hospitality industry, as all of you know, just got rim-racked — hotels, restaurants — and so that could well be a part of it,” he said per reports.
Amex, Discover, Mastercard And Visa Take Click to Pay Global
Visa, Mastercard, Discover and American Express have all agreed on the worldwide growth of touch-free purchases throughout platforms and retailers. Click to Pay showcases one-click buying convenience and is a digital checkout based on Secure Remote Commerce (SRC).
It Takes A Village To Build An Instant-Payments Ecosystem
Increased corporate and consumer interest won’t automatically move payment processes into instantaneous and modern versions. Panelists on a recent PYMNTS panel agreed that doing so will necessitate a team effort by every interested party.
Wirecard Administrator Sees Strong Interest From Potential Buyers
The administrator set by the court to lead the insolvency of Wirecard AG said a number of investors have come forward to purchase the remainder of the German payments firm. Michael Jaffe said in a statement, “The aim is to find timely investor solutions in the interest of creditors, employees and customers.”
The Vicious Circle Of Physical Retail Meets The Virtuous Circle of Digital
Four independent data points combined show a large change in how the retail landscape will look following the pandemic. And they set the stage for the unavoidable conflict of what has turned into the vicious circle of physical retail and the virtuous cycle of digital.
Trackers And Reports
Fixing The Global Fruit Supply Chain’s Broken Payments Problem
The fruit market is volatile, and importer-exporters may not know the precise amount they will pay suppliers — or get from customers — until the customers bring the goods to sale. PYMNTS explores how the industry’s specific payment requirements necessitate the use of business management as well as accounts payable (AP) software designed for the space.
Why FIs Are Taking A Behind-The-Scenes Approach To Fighting Fraud
To fight against account takeovers (ATOs), financial institutions need to have the ability to quickly detect when fraudsters have taken control of customer accounts and have steps implemented to prevent such attacks. PYMNTS explores harnessing behind-the-scenes monitoring, biometric authentication and client education to protect against ATOs.
Why Taco Bell Says Personalization Is The Key To Acing The Mobile Order Ahead Experience
A number of quick-service restaurants (QSRs) are preparing for the economic effects of the pandemic even as they adopt digital technology to benefit from the transition to web and mobile ordering.
They need to join mobile apps with rewards as well as loyalty products that can maintain the engagement of customers and grow revenues. PYMNTS explores how Taco Bell is using its customer loyalty program to fuel revenue expansion.
Fun, Cool and Otherwise Interesting
What Q1 And Q2 Is Telling Us About The Rest Of 2020
The Business Roundtable, which is composed of the chief executives of the U.S.’s largest companies, unveiled their Q2 report. They noted that the impact of COVID-19 will extend up to next year at the soonest.
Uber-Postmates Deal Shows Food Delivery Is Consolidating Like Pac-Man
Consider it to be a real-life take on Pac-Man. Word emerged this week that Uber was purchasing Postmates for almost $2.7 billion in stock through the newest acquisition on a venture that looks to see who will get the largest the quickest in the food delivery arena.
CFPB Payday Loan Changes Scrap Ability To Repay Requirement
The Consumer Financial Protection Bureau (CFPB) put forward its final payday lending rule, doing away with some would-be limitations that go back to almost three years. The requirement that lenders ensure that borrowers can meet the terms of the loans — known as the “ability to repay” — were among the restrictions.
QR Codes Enjoy A Renaissance In A Post-COVID World
Quick-response (QR) codes have been in existence for years, and the pandemic is providing them with a new purpose as a majestic touchless commerce enabler.