8.9.18 Your morning briefing
The information you need to start your day, from PaymentsSource and around the Web:
Amazon hits the curb
Amazon is adding a curbside pickup service at Whole Foods for its Prime members, as similar services take hold at rivals Kroger and Walmart.
Consumers can order groceries on the Prime Now app. The service starts this week in Sacramento and Virginia Beach and will gradually expand nationwide.
The Tampa Times reports curbside pickup has become a major driver of Walmart's online business, pushing Amazon to accelerate its ongoing strategy to integrate Prime's incentive marketing with the Whole Foods chain.
No room for friction
Canadian consumers have little patience for inconvenient shopping and checkout, with an abandonment rate of 53%.
Payments Canada, which is overseeing the modernization of Canada's payment ecosystem, commissioned research from Leger Marketing. The findings suggest merchants are under pressure to upgrade the payments experience since Canadians are quick to halt online purchases if it required too much navigation.
Canadians are also interested in advanced in-store checkout. For example, the research found 43% of Canadians are interested in "no checkout" stores such as Amazon Go. And 33% are interested in social payment apps.
The United Nations Economic Commission for Africa is collaborating with Ant Financial to promote financial inclusion, reports Azaniapost.
The partnership brings together two major forces in payments innovation. Ant has invested billions of dollars in fintech and has extended digital transaction support in dozens of countries outside of its native China.
Africa, which largely lacks legacy financial networks, has been a testing ground for mobile banking, payments, and telco innovation for much of the past decade.
Fossil has introduced new smartwatches that include NFC, heartbeat tracking, GPS and other wearable technology.
Wear OS by Google and Qualcomm Snapdragon are powering the features, which will enable users to make contactless payments that can be paired with other activities, such as fitness clubs.
Google has been expanding its range of watches and countries for Google Wear payments over the past year.
From the Web
SumUp POS makes Digital Payments more accessible and affordable for all Merchants
TechBullion | Wed August 8, 2018 - We all currently enjoy the luxury of paying digitally at every single place we go. Almost all the big merchants accept digital payments such as payment using credit, debit cards, digital wallets, etc.
New ways to pay: Installment payments with a twist
ABC News | Wed August 8, 2018 - New kinds of installment plans are offering options to shoppers who may remember layaway as something their parents or grandparents used. The payment businesses, many of them startups, are working with companies like Urban Outfitters or Expedia to give shoppers an alternative to traditional credit cards.
High street Indian banks are riding the blockchain wave for efficiency
The Economic Times | Wed August 8, 2018 - Some of the largest Indian banks already use blockchain and the technology is now finding buyers among all high-street lenders that are seeking to thwart competition from fintech firms. Blockchain is like the “Whatsapp highway for payments,” says Navin Gupta, Managing Director of South Asia and Middle-East and North African regions at Ripple, a global blockchain firm. Just like messages on Whatsapp, transactions on it are encrypted and peer-to-peer.
More from PaymentsSource
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