Today In Payments: Google Delays In-App Fees; Square Capital Chief To Step Down

In today’s top news, Google has delayed its deadline to developers to comply with a new fee system, and the head of Square Capital is stepping down. Plus, Amazon India now lets customers pay credit card bills through its app.

Google Delays In-App Fees Following Outcry From India’s Startups

Following complaints by India’s app developers, Google has postponed the deadline to comply with a new billing system for commission fees by six months. It will enforce the global policy more strictly, including a 30 percent commission fee for in-app purchases from Indian developers starting on March 31, noting it is mindful of local needs and concerns.

Square Capital Chief To Step Down

Jacqueline Reses, head of Square’s Square Capital unit, is stepping down on Oct. 30. Square Capital is the company’s small business financing arm, providing loans from $300 up to $10,000, charging a single fee for loans.

Amazon India To Let Users Pay Credit Card Bills With Amazon Pay

Amazon India customers can now pay their credit card bills through Amazon Pay, by making payments via UPI or internet banking. PhonePe, Paytm and others already offer the option for credit card bill payment on their apps.

Report: Airbnb Aims To Land $3B By Going Public

Airbnb is seeking to raise about $3 billion in funding through an initial public offering (IPO). The homesharing firm aims to have its filing publicly available in November following the U.S. election, with an eye toward a public offering in December.

How Consumers Forced Big Merchants To Up Their Digital-First Game

The consumer’s shift to digital and touchless shopping kicked into high gear once the physical economy shut down in March. Karen Webster said new PYMNTS data from a study fielded in mid-September suggests that those digital shifts have forced big merchants to meet them on their digital and touchless turf. Consumers report having digital-first shopping and dining experiences that are as much as two and a half times better than they were in May — further assuring that digital-first will soon become the way consumers and merchants do business, she said.

Visa’s Phalen: Collaborative Commerce Is B2B Payments’ Next Act

Companies and consumers essentially “hire” goods or services to get where they want to go, make progress and satisfy goals. Kevin Phalen, head of global business solutions at Visa, told Webster that consumerization and digitization of the B2B space are enabling firms to get the job done — that is, moving data between buyers and suppliers — with efficiencies previously unknown. Here’s how.

James Bond’s License To Close Movie Theater Chains

It’s been a rough year for cinema operators, with consumers around the world hesitant to return to theaters amid the pandemic. The latest blow is Hollywood’s decision to delay “No Time To Die,” a new James Bond film seen as a potential blockbuster. When it comes to helping cinemas, is Hollywood prepared to “Live and Let Die?”