The information you need to start your day, from PaymentsSource and around the web:
Compatibility
China's central bank digital currency will work with the country's payment networks, giving it massive scale as it approaches launch.
WeChat Pay and Alipay will be able to process transactions with the digital yuan, with the People's Bank of China stressing the CBDC is not designed to compete with the mobile wallets, reports
CBDCs are often positioned as public alternative to the influence of large technology companies, which enroll hundreds of millions of consumers, and the digital yuan has been viewed as
Ant hill
That would be the largest share sale in history, according to
Ant is affiliated with Alipay, which has gained ground with merchants outside China for years as a way to enable same-currency transactions for travelers, a strategy WeChat also employs.
Fresh face
Wirecard North America has renamed itself North Lane Technologies, several months after its German parent company
North Lane is joining forces with daVinci Payments, a Buffalo Grove, Ill.-based prepaid and debit card specialist to support payments spanning incentives, rewards, disbursements, compensation and global payouts, according to a press release.
The two companies will collaborate under the umbrella of Plano, Texas-based
Playing games
Point of sale credit firm Klarna has partnered with GameStop to extend an installment option for gamers online and in stores.
Klarna also added GameStop to Klarna's Playing for Keeps livestreamed events, which feature consumers playing against top gamers and celebrities. The partnership allows GameStop to tap into an increasingly popular trend during the pandemic, as more consumers look for
Klarna often participates in new retail concepts as a way to extend its brand and has also attracted high-profile investors, including
Big time
B2B payment and credit company MSTS has released an extension for BigCommerce, an SaaS platform that often serves as a boost for companies looking to extend their e-commerce strategy.
The MSTS link will allow merchants to automate terms and invoicing for business customers, an attempt to make it easier to migrate from paper-based transactions.
From the web
TECHCRUNCH | Tuesday, October 27, 2020
FreshToHome, an Indian e-commerce startup that sells fresh vegetables, fish, chicken and other kinds of meat, has raised $121 million in a new financing round as the Bangalore-headquartered firm reports accelerated growth spurred by the coronavirus pandemic.
REUTERS | Monday, October 26, 2020
Brazil's state-owned lender Caixa Economica Federal is planning an initial public offering of its the newly created 'digital' arm in the U.S. as soon as next year, Chief Executive Pedro Guimaraes said in an interview.
TECHCRUNCH | Tuesday, October 27, 2020
Expanding a partnership with Miso Robotics, around 10 new White Castle locations will be rolling out the Pasadena, Calif.-based company’s robotic fry cook.
More from PaymentsSource
Click to Pay is based on EMVCo’s Secure Remote Commerce (SRC) industry standard, acting as a form of guest checkout which alleviates the need for cardholders to manually enter personal and account information to shop at unfamiliar merchants.
Amy Coney Barrett will assume a lifetime appointment on the Supreme Court, just as it prepares to hear a case on the Affordable Care Act that could toss years of advancement in health care payments into disarray.
Business leaders have come to understand the role that people play in cybersecurity fiercely working to establish a strong security culture within their own organizations, says KnowBe4's Javvad Malik.
Less than a year after Curve launched its cross-border P2P service to solidify its mobile banking app, the London-based company says it is expanding into Lithuania to establish a post-Brexit European base.
The 2020 election could draw the most voters in history, along with a record haul for campaign contributions, with fundraising thus far favoring Democratic candidates both generally and in the finance and technology industries, which cover most financial institutions and payment firms.
Venmo's and PayPal’s strategy towards a varied merchant and end consumer digital payment ecosystem is facilitated through the launch and shows how Venmo is diversifying on the end consumer side.
JCB International has entered an acquiring partnership with Riyad Bank to enable acceptance of JCB cards at merchant terminals and ATMs throughout Saudi Arabia.
American Express boosted the perks on some of its premium cards once again as the card issuer tries to keep a lid on attrition during the coronavirus pandemic.
Two smaller banks with strikingly different roots — a startup financial institution in Irvine, Calif., and a century-old Missouri-based bank — are seeing similar trends emerge around demand for real-time payments.
A limited federal government constrained by the Constitution and conservative courts can’t easily exercise broad authority over digital finance, says DailyPay's Matt Kopko.
With the COVID-19 pandemic creating unprecedented challenges for small businesses, American Express has increasingly targeted its investments in that niche.
Skipify, a Cupertino, Calif.-based AI payments and commerce provider, will power its 1-Touch payment technology through a new Shoppable Email program that also provides real-time product information and a shopping cart inside of the e-mail.
Financial stability was a central priority during Barack Obama’s presidency. As soon as Donald Trump took office, deregulation became a key focus. If Joe Biden gets elected, the issue of financial inclusion may finally gain prominence in the banking policy realm.
