Payments News

On The Web

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Use

Whole Foods Is Restricting Cash Payments in Some Stores

“Amidst concerns over the ongoing spread of the coronavirus , at least one national grocery chain has begun limiting the use of cash in some stores.Last Friday, reports began to surface on social media of Whole Foods stores restricting or even eliminating cash payments. The grocers’ move comes as health experts cited by CBS warn […]
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Global

African fintech firm Flutterwave launches SME e-commerce portal

“San Francisco and Lagos-based fintech startup Flutterwave has launched Flutterwave Store, a portal for African merchants to create digital shops to sell online. The product is less Amazon and more eBay — with no inventory or warehouse requirements. Flutterwave insists the move doesn’t represent any shift away from its core payments business. The company accelerated the […]
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Companies

Walmart’s U.S. Boss Expects Coronavirus to Alter Shopping Permanently

“When John Furner became chief executive of Walmart Inc.’s WMT -0.53% U.S. operations last year, the biggest challenge was Amazon.com Inc. AMZN -0.40% Now Mr. Furner—who began his career at the company in 1993 as an hourly store worker and most recently led Walmart’s Sam’s Club—is leading the largest business unit at the country’s largest retailer during […]
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Global

GCash to help taxis shift to cashless payments: transport dept

“The Department of Transportation said Friday it tapped GCash to help equip taxis with scan-to-pay systems, as part of a pandemic normal that requires cashless payments. The joint venture of Jack Ma’s Alipay and Globe Telecom’s Mynt allows users to scan merchants QR codes and deduct the amount due from their mobile wallet. Digital payments […]
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Deals

KKR caps Jio deal, upping payments reach in Asia

“KKR & Co. said it negotiated its biggest Asian transaction, a $1.5 billion deal to buy stake in Mukesh Ambani’s India-based digital platform business, in 10 days. The New York-based private equity firm on Friday said it’s buying a 2.3% stake in Jio Platforms Ltd., the telecom and digital services holding company controlled by Ambani’s […]
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Global

UK’s FCA releases updated guidance for payments firms amid COVID-19

“The U.K. Financial Conduct Authority issued renewed guidance on payments firms amid concerns that the COVID-19 pandemic has put additional pressure on many startups that depend heavily on investor support and may not be able to meet original performance targets. “The guidance is part of a broader programme of work the FCA was planning to […]
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Companies

Paytm Builds ‘Contactless In-store Ordering’ Solution for Restaurants After Lockdown

“Paytm on Monday said it has developed a ‘contactless in-store ordering’ solution to help restaurants and eateries minimise physical contacts for menu, billing and cash transactions after these businesses open after the lockdown. The digital payments major aims to onboard over one lakh restaurants for the solution. It is looking at tapping into top-30 cities […]

On The Wires

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Tech

CITCON and Tulip Team Up to Launch Global Mobile Payment Solution

“CITCON , the leading mobile payment platform and Tulip , the global leader in store associate cloud-based mobile solutions, announced today a strategic partnership to enable QR mobile payment solution for luxury and fashion retail brands that will streamline their omnichannel payment process and increase revenue from global mobile wallet users.”