The information you need to start your day, from PaymentsSource and around the web:
Self-serving
Ant Group's Alipay is primed for acceptance at 100,000 vending machines and self-service markets in the U.S. and Canada via a new partnership between cashless tech firm Nayax and Yuansfer, a cross-border payment platform.
Nayax has equipped vending machines it serves to accept Alipay’s QR codes for payments across North America, targeting Chinese nationals and visitors using vending machines, laundromats and car washes, among other self-service retail locations, according to a press release.
The collaboration marks the first payment service provider in the unattended sector to enable Alipay and other QR codes, said Carly Furman, CEO of Hunt Valley, Md.-based Nayax.
Cyber spree
The National Retail Federation forecasts strong overall U.S. holiday sales despite the pandemic, with total seasonal sales likely to increase at about the same rate as last year, thanks to surging e-commerce growth.
During November and December, total retail sales are expected to increase between 3.6% and 5.2% over 2019’s final tally, reaching between $755 billion and $766 billion. That compares with a 4% increase last year over 2018, NRF said in a press release.
Small- and midsize retailers were hit hardest by this year's store shutdowns and stay-at-home orders, but retail sales overall have been steadily gaining momentum since June. By the third quarter, e-commerce sales were up 37% over the previous year as the pandemic drove more households to shop online.
Chain mail
Copenhagen-based startup Securechain has developed a blockchain-based payment solution for unbanked gig workers that uses email to send digital payments anywhere in the world.
Securechain’s Finmail Mailbox enables recipients to send and receive digital currencies such as Bitcoin and Tether’s USDT via email, according to a press release.
The solution was designed for global gig workers to receive freelance wages through the platform from participating employers, with plans to include a registry for discovering available work opportunities and selecting contractors.
Cardless membership
Costco has begun enabling contactless payments at thousands of its gasoline pumps across the U.S., two years after
Costco's latest action brings the company a step closer to a completely cardless checkout experience. At its gas pumps Costco has also installed barcode readers so customers eventually may verify their membership in Costco’s warehouse program using the Costco mobile app instead of their Costco card.
Costco operates 550 warehouse stores in the U.S. and most of them include a nearby gas station for members only.
From the web
TECHCRUNCH | Tuesday, November 24, 2020
Challenger bank N26 is adding a third subscription product called N26 Smart. N26 Smart is designed to be a mid-tier subscription plan with advanced banking features but without a travel insurance package.
REUTERS | Monday, November 23, 2020
Apple on Monday apps that offer virtual sessions or classes do not need to use App Store's in-app purchase method through June, extending an earlier deadline of December.
THE VERGE | Thursday, November 24, 2020
Elon Musk has passed Microsoft co-founder Bill Gates to become the world’s second richest person, according to the Bloomberg Billionaires Index.
More from PaymentsSource
JoomPay Europe S.A. is launching a person-to-person payment app throughout Europe that it says will give consumers an instant money transfer tool similar to what U.S. residents have in Venmo, Square Cash and Zelle.
By gathering pools of customer data ahead of the shopping surge, retailers can capitalize on the increase in shoppers by identifying the right customers and making every engagement count, says Tealium's Sav Khetan.
Many countries are positioning themselves as a destination for fintechs seeking EU-wide licenses as the U.K. leaves the EU. Following Brexit, U.K. electronic money and payments institution licenses across the EU won’t be passportable across the EU.
PayPal Holdings Inc. employees will probably spend more time working from home even after the coronavirus pandemic is over.
HSBC for the first time is offering customers a way to send funds instantly across borders to other HSBC customers via a mobile device.
Finland’s OP Financial has announced that it will be launching a biometric payment card pilot in the Nordic countries in the second half of 2021.
Payoneer has integrated its payment orchestration platform into its core services, a year after obtaining the cloud-based technology through the acquisition of German payments provider Optile.
Banks have made great strides in applying digital technology to the world of checks, but companies that receive checks still have to physically receive them in order to digitize them, says Santander's Greg Murray.
The hurdles faced by Black professionals who break into the financial services belie the notion that their small numbers at the industry’s top ranks are a pipeline problem.
While digital pay innovation was once seen as a “nice-to-have” benefit, it's quickly becoming integral to business survival, says LendingFront's Jorge Sun.
