AmEx Launches ‘Stand for Small’ Group and other Digital Transactions News briefs from 4/22/20
Digital Transactions News staff
April 22, 2020
Acquiring, Competitive Strategies, Credit Cards, E-Commerce, Electronic Bill Payment, Marketing, Mobile Commerce, Person-to-Person Payments, Point-of-sale, Transaction Processing
- American Express Co. launched “Stand for Small,” a platform of more than 40 companies who have agreed to lend expertise to small businesses impacted by the effects of the Covid-19 pandemic.
- The World Bank predicted in a new report that global remittances will fall by about 20% this year because of the economic crisis caused by the Covid-19 pandemic. The bank warned of the “sharpest decline of remittances in recent history,” which will hit low- and middle-income countries particularly hard.
- Two years after Amazon.com Inc. opened its first Amazon Go store, a report from Strategy Analytics contends the “just-walk-out” shopping and payments concept is too expensive and impractical for many types of retail categories, including general merchandise, consumer electronics, and apparel.
- The payment-facilitator market generated $2 billion in transaction revenue in 2018 and is projected to reach $15 billion by 2025, according to the new “Payment Facilitator Global Opportunity Analysis and Industry Forecast, 2018-2025” report by Infinicept. The research and consulting firm projects the number of payment facilitators worldwide will exceed 4,200 during the forecast period.
- Payments provider Tempoe LLC said it is supporting a lease option for Texas Tire, a chain of more than 40 stores, to make tires and wheels more affordable for customers.
- GoCardless Ltd., a provider of recurring payments, launched Success+, a service that uses machine learning to pinpoint the best time to retry a failed payment.
- Business and banking technology and services provider Deluxe Corp. will offer its small-business customers merchant services from Fiserv Inc., including the Clover point-of-sale platform, online payments, gift cards, and other services.
- China-based payments provider UnionPay International said it expedited the launch of what it calls its Content & Service Platform that offers value-added services for digital wallets developed or upgraded to UnionPay standards. The platform allows financial institutions outside of mainland China to provide instant payment for utilities, transport, and lifestyle and entertainment purchases.
- Billtrust, which automates invoice delivery and payment capture, said its systems are now integrated with more than 100 accounts-payable portals.
- On this 50th anniversary of Earth Day, payments firm Paysafe Group claims it has achieved carbon-neutral status.
- In an expansion of its payments ambitions, Facebook Inc. has agreed to lay out $5.7 billion to buy a 10% interest in Mumbai-based Reliance Industries in an effort to use its WhatsApp messenger service to support digital payments for small grocers in India. Reliance offers the Jio Infocomm telecommunications service. At 400 million users, India represents WhatsApp’s biggest market.
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