The information you need to start your day, from PaymentsSource and around the Web:
Light on cash
Square is launching its invoices app in the U.K. for businesses that are concerned about the timing of their payments.
The app, which
Square attributed its launch to research showing 41 percent of U.K. small businesses are concerned about the cash flow challenges that can result from late payments. Square also cited U.K. government figures showing small businesses lose an average of about $11,000 per year to late payments.
Retail jungle
E-commerce giant Amazon has made major inroads into traditional brick and mortar over the past couple of years, acquiring
Another e-commerce brand, Wayfair, is also expanding its offline channels, with plans to open a full service retail store in Natick, Mass. by the end of the year, reports
Wayfair had earlier opened pop-up stores in Natick and Paramus, N.J.
Data sharing pairs
Open banking fintech Token.io has taken advantage of the bank technology push for
Tandem is a branchless financial institution that sells payment services, credit cards, financial management and savings accounts to more than 500,000 consumers, with a focus on open banking and fintech data sharing.
With the March 14 PSD2 testing deadline passed, the bank is looking to build specific services around data sharing and mobile payments.
McMachine learning
McDonald's has agreed to pay $300 million to buy Dynamic Yield, a Tel Aviv startup that builds technology based on big data and decision logic.
It's a mix McDonald's will use to streamline ordering and transactions in drive through lanes, reports
McDonald's plans to make offers and other digital content less static, using weather, time, traffic, nearby news and events to tailor sales and communication at specific locations.
From the Web
CNBC | Wed March 27, 2019 - Alibaba-owned online merchant Lazada wants to boost its financial services business in a bid to gain an edge in South East Asia's competitive online retail market. Lazada is a Singapore-based e-commerce company. It hosts a platform which allows merchants to sell into the countries where it operates.
Reuters | Wed March 27, 2019 - Payments group Worldpay said it was expanding its business in Australia and New Zealand, a new heavyweight disruptor vying for the business of the established payment networks and banks servicing most local firms.
The Straits Times | Wed March 27, 2019 - Wirecard AG tries to rebut allegations of fraud that have wiped more than 50 percent off the payment processing giant's market stock price. Lawyers hired by the company found no evidence of corruption and said there will be no material impact on the business's financial statements from wrongful accounting.
More from PaymentsSource
Billions of dollars in investments are pouring into digital payments, but the hefty numbers obscure a regulatory and competitive squeeze that could shut banks out of the profits for good.
Beyond Apple’s glitzy product rollouts this week, the tech giant quietly notified users of new policies and a fee to Apple Pay Cash, the account in which the Apple Card deposits rewards.
The evolution of payment technology has diversified into frictionless credit provision at the point of sale — retailers that realized this early on and entered into technology partnerships are already reaping the rewards.
It’s not often that Goldman Sachs gets second billing. But amid all the glitz that accompanied the unveiling of Apple’s new credit card on Monday, the Wall Street bank's role was somewhat overshadowed.
