| Global payments news: Coffee by drone, Google retail store, Kroger driverless deliveries, Amazon theaters, Walmart e-commerce, more…
|
| As summer winds down, global payments news is accelerating. We’ve got a classic collection of interesting news including IBM’s new coffee by drone patent, plans for Google’s first-ever retail store, stellar Walmart e-commerce results, Amazon’s possible purchase of a theater chain and much more.
|
| Square’s crypto-powered Cash App bests PayPal’s Venmo for first time
When it comes to payments apps, there’s a new sheriff in town. Square’s Cash App now has a total of 33.5 million downloads compared with PayPal Venmo’s 32.9 million cumulative downloads according to Nomura Instinet analyst Dan Dolev. “If the Cash App continues to grow rapidly, the business could reach or even exceed $100 million in sales by 2020, even without deeper active user penetration,” Dolev reported in a note to investment clients. Read more… |
| Asia-Pacific e-commerce will reach $2.3 trillion in 2022, powered by mobile Online shopping in the Asia-Pacific region will reach $1.6 trillion in 2018 and $2.3 trillion by 2022 according to a new report from GlobalData. Across the entire Asia-Pacific market, Asia-Pacific e-commerce growth increased between 2013 and 2017 at a compound annual growth rate (CAGR) of 27%. By comparison, Europe showed 14% CAGR while North America grew 13% during the same period. Read more…
|
| UK check clearing will get a new image makeover
It’s very surprising the check clearing system in the UK has not kept pace with new technologies in most other markets around the world. By the end of this year, UK financial institutions will all finally adopt a new image-clearing system that replaces a traditional paper-based check clearing system little-changed for more than 100 years. Read more… |
| Debit cards take over from cash as preferred payment in UK
For the first time in the UK, debit cards have taken over from cash as the consumers’ preference for payments. New research from UK Finance shows consumers made 13.2 billion debit card payments in 2017 compared to 13.1 billion payments in cash. This comes a year earlier than projected by researchers. Read more… |
| Global payments news: Coffee by drone, Google store, Walmart e-commerce, Amazon theaters, US contactless cards
This weekend’s reading in payments news, trends, research and innovations from around the globe is for the fast and the furious. Watch for Google’s first-ever retail store in Chicago, Amazon’s possible move into the theater business, and Walmart’s stellar e-commerce results. We’ve also got a tip on an IBM patent for coffee delivery by drones as well as back-to-school shopping, and US contactless payments trends. Read more… |
| Get more global payments industry news and insight
Find the daily payments industry news you can use at PaymentsNEXT. |
| |
