Payments News

On The Web

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Providers

Visa Stored Credential Framework: Processing Improvements for Vaulted Cards

“Visa recently announced a framework and new requirements for merchants that store payment methods for future transactions so their customers can check out faster online. The Visa Stored Credential Framework applies to all Visa transactions made with stored payment methods — regardless of whether they’re processed from Braintree’s Vault or via an external vault. This framework will be rolled […]
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Use

Faster payments drive higher debit card use for gig workers, small-biz owners

“Debit push payments proved an essential component of the ride-sharing boom, with many drivers opting to pay a fee for immediate funds throughout the day to cover fuel and other expenses. And the technology is finding fans in other niches as well. These include micro-merchants and consumer P2P payments, and this activity is driving higher overall […]
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Companies

Walmart to acquire Mexico & Chile-focused grocery delivery service Cornershop for $225M

“Walmart  is ramping up its grocery delivery business on the international stage with today’s announcement that it has acquired the crowdsourced, on-demand delivery marketplace Cornershop for $225 million. The rapidly growing service offers on-demand delivery from supermarkets, pharmacies and specialty food retailers in Mexico and Chile, which will continue following the deal’s close, Walmart says.”
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Providers

Money Out of Nowhere: How Internet Marketplaces Unlock Economic Wealth

“Fortunately, the rise of the Internet, and specifically Internet marketplace models, act as accelerants to the productivity benefits of the division of labour AND comparative advantage by reducing information asymmetry and increasing the likelihood of a perfect match with regard to the exchange of goods or services. In his 2005 book, The World Is Flat, Thomas […]
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Providers

Smart marketplaces bridge the implicit and complex

“The latest species is the mobile, on-demand marketplace. Uber is the archetype — enabled by location technologies, increased mobile user density, flexible labor and behind-the-scenes supply-facing tools that bridge atoms to bits: scheduling, direct deposits and earnings dashboards. The next evolution in marketplace businesses will be substantial. Enabled by sensor technologies and AI, marketplaces will be […]

On The Wires

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Providers

Yapstone Announces Its New Transact Platform at Money 20/20, USA

“After nearly twenty years of hyper-focus on the property management and vacation rentals industries, the company is making a significant expansion into the sharing economy and other complex markets, which require customized payment solutions. “The anatomy of an online marketplace varies,” says Sanjay Saraf, CTO of Yapstone. “It is no longer sufficient to provide a general payment […]