News

Today In Payments: Apple Purchases Mobeewave; Trump Encourages Microsoft To Buy All Of TikTok

In today’s top news, Apple has purchased Mobeewave, and President Donald Trump has encouraged Microsoft to buy all of TikTok. Plus, GoodRx Inc. is reportedly looking to go public.

Apple Buys Mobeewave For $100M

Apple has bought Mobeewave, a Canadian company, that will turn iPhones into centers for mobile payment. Mobeewave focuses on allowing shoppers to use their smartphones to utilize a credit card and process payments.

Trump Urges Microsoft To Buy TikTok In Its Entirety

President Donald Trump said it would be easier if Microsoft were to purchase all of the video-sharing app TikTok instead of just a portion of it and that the tech firm should pay the U.S. Treasury as part of the arrangement.

Report: GoodRX Could Go Public

California-based prescription pharmaceutical price-comparison firm GoodRx Inc. plans to go public. According to reports, the firm has filed for a possible initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC).

Minneapolis Fed President Kashkari Urges 4-6 Week ‘Hard’ Shutdown 

Neel Kashkari, the president of the Minneapolis Federal Reserve Bank, has suggested that the American economy would be best served if the country were to be locked down for as long as six weeks to battle the ongoing pandemic.

Pinterest Stock Jumps 37 Pct On Renewed Advertiser, User Interest

Advertisers and users are returning to Pinterest, bringing about a rise in sales for the social media firm. Pinterest's stock value jumped 37 percent with revenue surging in July following a slump earlier amid COVID-19.

Big U.S. Corporations Exceed Earnings Predictions During Economic Low Point

Many American firms are defying the forecasts of analysts for a slow quarter. More than eight in 10 – or 82.1 percent of firms, with the inclusion of Facebook, Apple, Amazon and Google have come out ahead of profit expectations.

FinCEN Warns Of COVID Scams Targeting FIs, Consumers

The Financial Crimes Enforcement Network (FinCEN)  cautioned financial institutions (FIs) and consumers regarding schemes related to COVID-19, including some linked to digital currency. The network cautioned that bad actors “are engaged in fraudulent schemes that exploit vulnerabilities created by the pandemic.”

——————————

NEW PYMNTS STUDY: LEVERAGING THE DIGITAL BANKING SHIFT – SEPTEMBER 2020  

The September 2020 Leveraging The Digital Banking Shift Study, PYMNTS examines consumers’ growing use of online and mobile tools to open and manage accounts as well as the factors that are paramount in building and maintaining trust in the current economic environment. The report is based on a survey of nearly 2,200 account-holding U.S. consumers.

TRENDING RIGHT NOW