It’s the end of the workweek, 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 COVID-19 cash flow challenges and grocery shopping payments, as well as a report on Lyft driver “referrals.”
Top News
Lyft’s Driver ‘Referrals’ Show Limits Of Model, As Uber Expands
The COVID-19 pandemic has illustrated that Lyft encounters hurdles Uber does not have when it comes time to move gig economy workers to new revenue streams that can help keep them on an even keel in times of crisis. The news came at the end of last week that Lyft is referring drivers to work for Amazon to get additional work.
Amazon Tells Employees To Transfer To Grocery Work
Amazon is seeking to move employees to its grocery bagging division with a dramatic increase in grocery delivery because of COVID-19. Warehouse staffers will have the choice to move to the grocery team of Whole Foods. They will reportedly make more money if they make the switch – approximately $19 per hour.
Venmo, Square Cash Vie For Stimulus Funds Distribution
Cash App and Venmo want to be taken into consideration as methods for the federal government to distribute stimulus funds to help the economy. The popular apps have seen broad use in recent times, but the government has reportedly not adopted either one for official means to date.
Australia To Test Coronavirus Vaccine; US Doctor Claims To Have Potential Cure
The national science agency of Australia intends to pilot a pair of vaccines over the 90 days to come as part of a worldwide race to stop COVID-19. A doctor featured in the Netflix documentary “Pandemic” announced his team may have come across a coronavirus cure that will now be tested by the United States military.
New Data: What COVID-19 Is Doing To Main Street SMBs
The beginning of the new decade was filled with optimism for most small businesses, but it would only take three weeks for that thinking to change completely. Almost all small and medium-sized businesses (SMBs) today have been forced to move that sense of optimism in a battle for their survival.
Trackers and Reports
New Data: SMBs Shift COVID Cash Flow Challenges To Their Workforce
COVID-19 is wreaking havoc on American citizens and the economy. Consumers are remaining in their homes, purchasing less and saving what they are able to, as retailers and vendors put into place their own steps to slow the contagion’s spread. The resulting drop in revenues has put many SMBs in an impossible conundrum.
A Debit-Enabled Fix To In-Store Checkout Abandonment
Grocers and the solution providers that serve consumers have been long looking at ways to speed up checkout experiences, with some experimenting with the potential of mobile apps to make in-store purchasing automatic.
In a feature story, Andrew Radlow, chief business officer for Grabango, discusses how in-store computer visioning and consumer payment apps can unlock fast-grab-and-go purchasing.
Fun, Cool and Otherwise Interesting
Voice Assistants Play Key Role In Triaging COVID-19
Voice assistants are moving into the preliminary diagnosis and coronavirus triage business. In the United States, users of Amazon Alexa can now directly talk to their voice assistant regarding how to start diagnosing coronavirus cases.
New Stimulus Package Doesn’t Look Promising For Retail
House Democratic leaders have reportedly discussed ideas for another package to add on to the huge $2 trillion bill passed on March 27 in response to COVID-19. Committee chairmen and their staff are mulling over six proposals — none of which appear to aid non-essential retailing.
Feeding The Food Supply Chain: How COVID-19 Is Changing Farming Nationwide
The open-air farmers market seems to be the safest possible option with delivery services backed up for days. Business in those markets is mostly on the upshot, but new safety measures have seen some local agricultural producers sitting out as the move to make modifications to their operations.
Where Big Tech Will And Won’t Spend In A COVID Recession
Relatively big companies that operate in the global arena are likely to cut back on tech spending by over 4 percent per Enterprise Technology Research estimates. However, there remains an important pocket of growth with spending on “work from home” infrastructure.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
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