In this week’s news, we saw that Walmart hired away two executives from Goldman to join the commerce firm’s FinTech efforts, in addition to new insights on healthcare payments and digital disbursements. The Weekender is here to catch you up.
News
Walmart, Super Apps and the Rise of the New ‘Retail’ Bank
Recent news that Walmart had hired away two executives from Goldman to become a part of the commerce firm’s financial technology efforts highlights the allure and hurdles of building out super apps – and particularly of bringing banking into the mix.
Square’s Bank Is Open for Business – Now What?
Square gets a bank – and so, what’s now ahead? It may be the case that the metaphorical floodgates have opened for financial technology firms to harness what we might consider to be the “industrial bank” operating model, in order to combine digital-first operations with traditional banking offerings.
What Are the Odds That DraftKings Does $1 Billion in Revenue This Year? Pretty Good
Boston-based gaming firm DraftKings recently closed the books on a record fourth quarter and full year, while increasing expectations for this year and predicting it could do $1 billion in revenue.
Bitcoin Is Catching the Eye of Wall Street — Time to Worry?
It’s never simple to call the top of, well, anything in any market. But then again, things are appearing a bit lofty for bitcoin, at least insofar as sentiment is concerned, potentially signaling some challenges in the future.
Just Do It: Brands Can Take D2C Page from Nike
There have been a number of direct-to-consumer (D2C) plays in the past year, but the largest win of the year came from the largest move by the largest player: Nike. As of the year 2020, Nike reported that a full 35 percent of sales came from D2C sales.
Trackers and Reports
Report: Brazilian Consumers Think Digital — and Want Merchants to Do the Same
The pandemic has brought about a sizable digital shift in Brazil, with the proportion of consumers who prefer in-store shopping falling by 17 percent as of the beginning of the pandemic, while the share who prefer digital channels has jumped by 33 percent.
Report: Hospitals Turn to Card-on-File Solutions to Fix Payment Collection Pains
Healthcare providers have to get patients’ payments as soon as possible to ensure smooth cashflows, and the rise of high-deductible health plans have made this need only more pressing. PYMNTS explores how card-on-file transactions can streamline healthcare providers’ payment flows.
Taxing Problem: H&R Block Supports Consumers’ Need for Instant Digital Disbursements
More people are transitioning to digital channels to accelerate their tax filings and get answers to an increasing list of questions as the pandemic keeps impacting international finances. PYMNTS explores how the pandemic is reshaping the 2020 tax season and individuals’ expectations for refunds.
Fun, Cool and Otherwise Interesting
MercadoLibre Earnings Show Power of ‘Digital Front Door’ for Developing Regions
Latin American (LATAM) digital marketplace operator and payments platform Mercado Libre reported stellar Q4 2020 financials this week, highlighting the sizzle and scale of digital marketplaces now functioning as the “digital front door” through which individuals in developed and developing regions are accessing desirable new digital-first experiences.
Bill Gates’ Land Grab Fuels Speculation About Smart Cities, AgTech Plans
Bill Gates’ interests are quietly moving from server farms to soil farms. No one knows why, aside from Bill and Melinda Gates and their inner circle, but speculation is once again turning to their vision of developing new “connected” smart cities and farms.
Square’s Tidal Stake Hints at Super App Ambitions
As reported this week, Square said it has agreed to purchase a majority stake – for cash and equity – in Tidal for $297 million.
Greensill: One-Off Unraveling or Hint of Supply Chain Finance’s Issues?
Amid Greensill Capital’s apparent unraveling, the question must be asked whether something specific to the business has caused the pressures and troubles, or if it might be considered a one-time event.
TripAdvisor Leads Travel’s Possible Subscription Future
TripAdvisor has unveiled its travel subscription offering on its third-quarter earnings call with analysts, outlining a coming offering that would bring discounts on lodging and attractions globally
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