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 in-house restaurant ordering apps and cloud technology, as well as a report on banks running short on large bills amid the coronavirus crisis.
Top News
NYC Bank Runs Short Of Big Bills As Customers Hoard Cash
The drop in the stock market has led some banks to run out of big bills as clients reportedly arrived take as much money out of their accounts as they could. The Bank of America at 52nd Street and Park Avenue in New York City, in one case, ran out of $100 bills for a time due to large withdrawal attempts.
Amazon Experiences Technical Setback For Grocery Orders Amid High Coronavirus Demand
Amazon experienced a technical challenge impacting Whole Foods and Amazon Fresh grocery orders. The services have become a method for shoppers looking to avoid stores amid the coronavirus outbreak but still receive the household supplies that they need.
Planning For Recovery: Lessons Learned From China
The recovery of the U.S. economy is most likely approximately six weeks away if China’s COVID-19 experience is any guide. Most reports put the country in its first steps of recovery.
What 2K Consumers Told PYMNTS About How COVID-19 Changed Their Daily Lives
As the coronavirus got up close and personal during the week of March 2, PYMNTS put a study into the field on March 6 to a census-based panel of approximately 2,128 consumers in the United States. It turned out to be an important week to get a sense of consumer sentiment.
Paper Checks, COVID-19 And The Flaw With Analog Relief Payments
Treasury Secretary Steven Mnuchin told journalists of the administration’s intention to get relief funds into the hands of consumers as fast as possible during a March 17 press conference. Mnuchin said, “We’re looking at sending checks to Americans immediately.”
Trackers and Reports
Qdoba’s Upgraded App Leaves No Reward Point Behind
In-house ordering apps are typical for large quick-service restaurant (QSR) companies, with only those who are willing to take risks and innovate standing out from the herd. One complication they face when upgrading their apps, however, is making sure payment and loyalty data is maintained during the changeover.
In a feature story, PYMNTS spoke with Adam Fox, director of digital experience and media for the Mexican fast-casual chain Qdoba, about how the company was able to ensure a smooth data migration process to a revamped system.
How The Cloud Keeps Restaurant Inventory Less Cloudy
It can be challenging for restaurants to manage multiple eateries and to keep them completely stocked as well as running smoothly in the best of times. The difficulty becomes harder when relying on recipes that need complicated combinations of sauces, vegetables, spices and other ingredients.
In a feature story, Bamboo Asia Founder Anjou Ahlborn Kay, as well as CEO and Owner Sebastiaan van de Rijt, explained creating specialized inventory management software to handle that challenge.
Stopping Fraudsters From Taking The Travel Industry For An $11B Ride
It takes effort to balance seamless-but-fraud-free user experiences. Less stringent security steps that are frictionless for consumers may let bad actors in; however, those that require too much work can lead to lost sales.
In a feature story, Felix Shpilman, CEO of global online hotel accommodations and travel services provider Emerging Travel Group, talks about how the firm has combatted chargebacks as well as other scams with AI- and ML-powered approaches while offering more satisfying and seamless experiences to clients.
Fun, Cool and Otherwise Interesting
Main Street USA Was Healthy In February, But Coronavirus Is The Wild Card
The newest data from the Main Street Index indicated that small and medium-sized businesses (SMBs) have seen steady growth in business formation, wages, and hiring. All of that could be tested, however, in ways that would have been given little thought a few weeks ago.
Why Hoarding Toilet Paper Ain’t A Charmin’ Sign of Things to Come
Coronavirus worries, misallocation of resources, lengthy queues, and hoarding of a product that, in the end, takes a long time to work down translates into a negative ripple effect. To get a sense of what it all comes down to, consider toilet paper.
Can The New England Patriots Brand Survive Losing Tom Brady?
Tom Brady announced on social media that he won’t sign with the Patriots for the 2020 season after two decades with the team. The superstar player is leaving with six Super Bowl rings, no apparent heir in place, and many league records — as well as a lot of the team’s brand equity.
Apple/Disney: Is Apple About To Make The Happiest Acquisition On Earth?
It appears that the Apple/Disney rumor is again riding high amid uncertainty moving through the markets due to the COVID-19 epidemic. This time, it has been brought about by Rosenblatt Securities Analyst Bernie McTernan. The analyst wrote in a note that now may be an ideal opportunity for Apple to get Disney at a bargain price and bring about a win-win for both firms.
Uber CEO Sees Cash Position As Downturn Defense
Uber Technologies reportedly has billions in the bank — a total that should reach as much as $6 billion by the close of 2020. Management said on a conference call with analysts that cash, in addition to a $2 billion revolver, comes in the midst of the coronavirus’ continued impact.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
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