This Week in Payment News – August 27 to 31

August 31, 2018

Labour Day weekend is upon us, and as summer wraps up and kids get ready for back to school, the payments space is nowhere near slowing down speed. This week, we saw headlines from everyone from a jewelry designer Marla Aaron to the Bank of Canada governor Stephen Poloz, so make sure to take a look!

1.  Retailers Think Outside the (Jewelry) Box

You may stop by a vending machine to pick up a can of pop, or a snack-size of bag of chips, but would you use one to pick up a new pair of earrings? Jewelry designer Marla Aaron is offering her high-end pieces in a luxury vending machine in a New York City park. This machine is taking unattended payments to new heights, and likely new dollar amounts!

2. Automated ease: Payables automation can control spending, optimize cash flow and ensure timely payment of suppliers

Our own Rob Wilkinson, Vice President of B2B Sales, participated in a roundtable discussion with Visa, focusing on payments automation that was published this week! Rob discussed accounts payable and receivable, and what companies are looking for when building their systems, make sure to check it out!

3. Warren Buffett Invests $300M in a Digital Wallet. Should You Follow His Lead?

You might not have 300 million dollars to invest, but you may want to start looking at digital wallets as seriously as Warren Buffet does. His investment through Berkshire Hathaway is to a company called: Paytm, a mobile payment company that claims to be India’s largest. The article suggests that with roughly 390 million internet users in India, this investment is likely to be a fertile one. If you’re interested in the growth of mobile payments, this is an article for you. 

4. Consumers double adoption of retailer mobile apps

A new study by Synchrony showed that 67 per cent of consumers have downloaded a retailer’s app, and more than half of those downloaders did so for a coupon or discount offer. With our recent article on The Top 4 Most Popular Payment Apps discussing how the Starbucks app is one of the most popular payment apps in the country, we’re not surprised!

5. Central banking faces prospect of ‘digital disruption’, Poloz says

The Bank of Canada governor Stephen Poloz is recommending to international peers that they consider the economic effects created by the digital disruption. With the amount of change in the digital finance space, there are concerns that their economic impact could have real implications for banks and bankers for the foreseeable future.



If you’re interested in learning more about August’s top headlines in the payment industry, make sure to check out our recaps from August 20 to 24, August 13 to 17 and August 6 to August 10.

 

The information in this article is provided solely for informational purposes and is not intended to be legal, business or other professional advice or an endorsement of any of the websites or services listed. 

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This Week in Payment News – August 20 to 24
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