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Shaking it up
Shake Shack is launching an in-app order/pay and delivery service through its partnership with Uber Eats, which builds on the quick service chain's mobile-focused upgrades during the pandemic.
The new feature enables consumers who order and pay via Shake Shack's app to track their order and pay a 99-cent delivery fee, or a free delivery for orders over $35, reports
Store's open
Flywire has launched an e-store aimed at its target client base, which is mostly higher education institutions and their students.
The store is designed to enable purchases of school-related items, event registration and online access to other education-related activities. Flywire's core business is a payment gateway for larger tuition payments, though smaller education transactions often take place in other venues, making Flywire's e-store a chance to own more of the students' and universities' relationship.
Closing shop
London fintech Revolut is ending its 18-month beta in Canada, a setback for the company's global expansion.
Revolut has not been able to offer a wider enough range of products in Canada, reports
Revolut has not yet obtained a banking license in Canada, where a group of five banks control most of the market.
Price war
Commonwealth Bank of Australia plans to offer a point-of-sale credit product that will not charge merchants fees beyond the normal card interchange.
The move undercuts Buy Now/Pay Later firms such as Affirm, Klarna and Afterpay (which is based in Australia), reports
CBA, which plans to launch its BNPL service in the middle of 2021, will retain its partnership with Klarna, according to Finextra, and will market its own BNPL product as an alternative.
From the web
TECHCRUNCH| Thursday, March 18, 2021
Founded in 2020 but with a history going back to 2013, years before founders Mirek Mencel and Patryk Zawadzki spun out the product separate from their agency, Saleor is described as an “API-first” e-commerce platform that takes a “headless” approach. The idea is that the platform does the back-end heavy lifting so that developers can focus on the front end where most of the value is created for users.
TECHCRUNCH | Wednesday, March 17, 2021
Diem, a London, U.K.-based fintech startup, has raised a seed round of $5.5 million led by Fasanara Capital, and angel investor Chris Adelsbach, founder of Outrun Ventures. Additional investors include Andrea Molteni (early investor in Farfetch), Ben Demiri (co-chairman at fashion tech PlatformE) and Nicholas Kirkwood (founder of the eponymous brand).
REUTERS | Thursday, March 18, 2021
The Pakistani province of Khyber Pakhtunkhwa is planning to build two hydroelectric-powered pilot "mining farms" to capitalise on a bullish global cryptocurrency market, a minister overseeing a new government crypto policy told Reuters on Wednesday.
More from PaymentsSource
2021's Most Influential Women in Payments honorees demonstrate how a diverse background and a unique perspective can prove crucial in difficult times.
As the fintech industry matures and takes stock of how it has disrupted the banking industry for good, it’s critical we continue placing value on specialization to create a better, customer centric experience for all, says Moorwand's Luc Gueriane.
The scrutiny on installment lenders could prompt them to fine-tune their offerings and diversify into new markets.
In the space of a few weeks, Payoneer announced it would go public through a special purpose acquisition (SPAC) firm, then collaborated with Mastercard on a suite of services for B2B payments.
Despite digital payment advancements and the availability of mobile wallets in most countries, cash remains a prominent payment form — especially in Romania, where 78% of transactions are still made with cash.
Technology safety assessor UL will test EMV specifications on consumer mobile devices as part of standards body EMVCo's early adopter program.
The growing use of fintech by U.S. consumers has illuminated a number of important gaps in banks’ traditional product offerings—gaps that reflect deeper, unmet financial needs.
The major card networks have postponed a planned interchange fee hike yet again in light of the reality of an ongoing pandemic, pleas from merchant groups and pressure from Sen. Dick Durbin, D-Ill.
Showcasing contactless ATM access and enabling easier use of stimulus funds are among the ways the megabank and digital upstart are tailoring services to customers acquired during the pandemic.
Any failure by retailers to fully and effectively execute on all post-purchase business requirements and that promise will quickly turn to pain, says Inmar Ingellince's Ken Bays.
North Korea and other rogue actors present a whole new threat to transaction security, says Capco's Julien Bonnay and Bryce VanDiver.
True Name, which launched on Mastercards issued by Citi, allows members of the transgender community to have their chosen first name appear on their payment card.
Visa and Mastercard are postponing plans to boost the fees U.S. merchants pay when consumers use credit cards online, pushing back the changes another year to April 2022 because of the pandemic.
After postponing enforcement for years, the card brands are implementing an EMV liability shift at fuel stations, which still struggle to make the upgrades necessary for chip-card acceptance.
Facing accusations of illegally using client accounts to move money to its U.K. headquarters from a Brazilian bank, Wise (formerly Transferwise) vehemently denied those actions and said it is the target of a smear campaign.
Bank of America is confident in its growth prospects even as competition intensifies from fintechs including Walmart’s startup.
