In today’s top news, Visa opted out of its acquisition of Plaid after the DOJ sued over antitrust concerns, and Billtrust is expected to start trading today after completing its SPAC merger. Plus, Walmart is teaming up with HomeValet to test refrigerated delivery of fresh produce.
Visa Opts Out Of Plaid Acquisition, Cites Complex Litigation
Visa has opted out of its $5.3 billion planned acquisition of Plaid after objections stemming from a Department of Justice (DOJ) antitrust lawsuit, which said it would put Visa in a position to maintain a monopoly in the online debit card market.
BillTrust To Make Its NASDAQ Debut Today Trading As BTRS
Billtrust has completed a special purpose acquisition company (SPAC) merger with South Mountain Merger Corp., and is expected to begin trading Wednesday (Jan. 13) on the Nasdaq Global Select Market and the Nasdaq Capital Market under the symbols “BTRS” and “BTRSW,” respectively. Billtrust provides cloud-based software and integrated payment solutions to streamline and automate B2B commerce.
Walmart Teams With HomeValet On Smart Box Tech For Deliveries
Walmart is teaming up with delivery solutions startup HomeValet to launch a test pilot that would bring fresh groceries to people’s homes in smart boxes that can store frozen, refrigerated and pantry items at three different controlled temperature ranges.
Starbucks Launches $100 Million Fund To Support SMBs
Starbucks announced on Tuesday (Jan. 12) the launch of the Starbucks Community Resilience Fund, through which it will invest $100 million from now through 2025 to support small businesses located in minority neighborhoods, providing them with access to capital and mentorship.
Swap.com Uses Data Analytics To Fight Post-Holiday Fraud Surge
The post-holiday season is a busy time for consignment stores — making it a busy time for cybercriminals as well. KP Brendel, director of marketplace operations at online thrift and consignment store Swap.com explains how combining in-house analytics with insights gathered from third-party partnerships can help eTailers nip fraud in the bud.
Visa’s Phelan: SMBs Remain Optimistic; Data Shows Digital Tools Bring New Customers
A new Visa report shows that embracing digitization for small and medium-sized businesses (SMBs) is a necessary and profitable strategy. Visa Global Head of Business Solutions Kevin Phalen told Karen Webster that businesses that open up to the digital shift can move beyond “survive” to “thrive.”
Debate Looms Over Crypto Privacy, Security And Regulation
This month marked the end of a comment period on rules proposed by the Treasury Department that would step up record-keeping tied to crypto transactions. The goal is to short-circuit criminal activity that leverages cryptos for ill-gotten gains. Critics charge that privacy will be sacrificed. The debate over privacy versus security rages on.
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