It was a very busy week for payments and commerce, and the new edition of the PYMNTS Weekender reflects that fact. We have news about new P2P and B2B payments efforts, new research into SWIFT and QSR innovation, and a deep look at the legacy left behind by Jack Ma as he steps down from leading Alibaba.
Top News
Visa Powers MoneyGram Push-To-Card P2P
MoneyGram and Visa Direct have formed a strategic partnership to roll out a new debit card deposit service. The person-to-person (P2P) money transfer option offers U.S. consumers a way to send money domestically through MoneyGram to a recipient’s eligible debit card.
Shopify Poised To Become Second-Largest US eCommerce Company
Shopify’s Q2 revenue was $362 million, which is up almost 50 percent from a year ago. Its total merchant sales volume went up to $13.8 billion, which is also up 51 percent from a year ago. eBay has not done as well, and it reported $21.5 billion in total sales volume in its most recent quarter.
JPMorgan Rolls Out Same-Day Deposits For SMB
Some customers can already use the new feature. By year-end, it will be available on all Chase platforms. Clerico said the offering is unique to Chase, as it is the sole major bank that owns a payments business.
B2B Payments: Moving From Inertia To Ignition
The B2B payments discussion often centers around innovators’ efforts to kill the check. Unfortunately, simply introducing an electronic alternative to paper checks is not enough to kill this sticky and popular payment method.
Stripe Launches Corporate Card, Expands Payouts To 45 Countries
Stripe also announced the creation of the Stripe Corporate Card to help companies make it easier “to run an internet business, boost revenue, and expand internationally.”
Trackers and Reports
Inside Domino’s Data Strategy For Driving Customer Loyalty
Technology is an essential ingredient that connects consumers with their favorite food brands. Whether they have a hankering for burgers, pizza, tacos and any other type of fare, consumers have a wide range of digital channels to place orders for delivery or for eating in-restaurant.
Report: Trade Credit’s Burden Hits 50 Pct Of US SMBs
Paying a merchant with a promissory note is an antiquated concept at a time when consumers’ wallets — both the physical and digital varieties — brim with payment options. Yet, in the world of B2B commerce, paying on credit is alive and well.
The Treasurers’ Guide To Simplifying Cross-Border Payments
In the inaugural edition of the Simplifying Cross-Border Payments Playbook, in collaboration with SWIFT, PYMNTS surveys the global cross-border payments landscape and expounds on the four key factors that businesses need to consider when choosing how to make and receive payments across borders.
Fun, Cool and Otherwise Interesting
Jack Ma’s Alibaba Legacy Of Commerce, Payments — And Even Healthcare
Some people build from the background, by design or default, working on seemingly small and mundane things that nevertheless have a great impact on the lives of millions upon millions of people. Jack Ma, on the other hand, built from the front, at least in recent years.
What’s Next For California’s Gig Economy After AB 5
The bill, which passed the state’s General Assembly in early June, codifies a new three-tiered test to determine when a worker is more appropriately categorized as an independent contractor versus when they ought to be classified as an employee with all the standard benefits and protections.
Libra’s Regulatory Wish List For — And From — The Swiss
In Libra-land, the speed bumps, hurdles and possibly even roadblocks continue to spring up. In reference to the regulatory climate, don’t expect it to ease anytime soon. Cryptocurrencies — Facebook’s Libra included — face at least some new headwinds as they target a mainstream embrace.
The Tepid Reaction To Apple’s New Products
There weren’t many surprises on display when Apple took the stage today in Cupertino for its fall device event Tuesday. But the event still holds significance.
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