We hope you had a great holiday, and that you didn’t miss any important news this week from the world of payments and commerce. As always, the PYMNTS Weekender has you covered. Stories this week included Visa and Mastercard moves, a look at fireworks retail and new research on financial institution innovation, among other topics.
Top News
Ripple Talks MoneyGram X-Border Payments Deal
June was a busy month for cross-border payments – done across currencies and time zones, between consumers and corporates. Going by a simple perusal of headlines, cross-border was, has been and will be in the crosshairs of many a payments player, across many a strategy, via fiat or digital coins, aiming to fix what’s broken in transactions done across currencies – especially in B2B.
If Facebook Wants To Be WeChat, Why Did It Launch Libra?
Facebook’s launch of Libra has unleashed a firestorm of coverage. Among the questions is what this means for Facebook’s desire to imitate WeChat. WeChat has evolved to become an active ecosystem that attracts app developers and brands given its sheer size and user engagement – one billion daily active users – and the relative ease with which Chinese consumers can interact and transact with those brands.
Uber Eats Adds Dine-In Service
For those who are tired of the friction that comes with going to a restaurant, looking at a menu, ordering and then talking to dining companions, a new solution has arrived. Sure, it’s possible to have food delivered – but with Uber Eats Dine-In, it’s also possible to enjoy the ambiance of eating out with none of the waiting/socializing that comes along with it.
Visa to Buy Verifi to Boost Chargeback Capabilities
The payment tech firm offers a suite of data-enriched solutions to help merchants avoid chargebacks on card payments. Visa’s intention for the acquisition, according to a release, is to further enhance and extend its chargeback and dispute resolution infrastructure.
Mastercard: Why Nordic Countries Could Fuel RTP Push
Real-time payments (RTP) is a global initiative that has been a decade in the making (and counting), one that has gained momentum over the last several years. More than 50 countries are actively pursuing, piloting or are already live with real-time payment programs.
Trackers and Reports
Why Drive, Not Size, Is Key to FI Innovation
Smaller banks and credit unions enjoy a reputation of offering more personalized services than large financial institutions (FIs). When it comes to technological innovation, however, the smaller players have long been outgunned by larger FIs and their sizable IT budgets. This is changing – in a big way.
Six Payment Methods AP Departments Like More Than Paper Checks
When it comes time to pay suppliers, most accounts payable (AP) professionals will use whichever payment method they need to get the job done – but most are unhappy with what they currently use. Paper checks are AP departments’ seventh favorite way to pay suppliers, yet 80.8 percent use them anyway.
Fun, Cool and Otherwise Interesting
Retail’s ‘Go Big or Go Home’ 2019 Prime Day
When Amazon first launched Prime Day in July 2015 to celebrate its 20-year eCommerce anniversary, the world was sure at first what to make of the impromptu sales holiday. Some were enraptured to have a summertime Black Friday, some accused Amazon of ripping off Alibaba’s Singles Day, some complained the deals weren’t that great and many mumbled something about it never working.
Earnings Season, Where No News May Be Good News
Earnings season comes four times a year, and beyond the vagaries of stock movements, the commentary offered by management alongside the earnings numbers can be of special value in road-mapping what’s next for commerce, for the consumer and – by extension – for payments.
The Weird and Wild World of Fireworks Retail
Fireworks are an unusual business, a Phantom Fireworks representative told PYMNTS. The rules change an awful lot around who can have them, when they can be sold, what can be sold and how exactly to classify a specific type of firework.
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