Chipotle's all-digital store; Uber and Paytm partner up

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Chipotle plans to open its first all-digital restaurant, with no dining room or order line, in a nod to the pandemic's impact on in-person dining and the broader restructuring of quick serve chain design.

The Chipotle location, north of New York, requires advance orders on the chain's app, website or third-party delivery services, reports CNBC.

Burger King and Taco Bell recently unveiled new store designs that focus heavily on mobile ordering, drive-throughs and contactless service due to open in the next year.

Work out

Experian’s Precise ID solution will go to work battling unemployment insurance (UI) fraud through a new partnership that aids state agencies facing skyrocketing numbers of fraudulent claims during the pandemic.

Teaming with the Unemployment Insurance Integrity Center, Experian will provide a centralized identity verification and proofing tool at no cost to state agencies, Experian said in a press release. The service provides states processing UI claims with “ID theft scoring” using Experian’s identity analytics technology. The National Association of State Workforce Agencies, funded by the Department of Labor, backs the UI Integrity Center.

Visa in September noted an uptick in UI fraud with prepaid cards, and many U.S. states have reported massive increases in such fraud since the pandemic began. Illinois recently documented 186,979 incidents of fraudulent UI claims so far this year, up 1,400% over 13,000 fraudulent claims in 2019, according to ABC News.

Ride now pay later

Paytm and Uber have entered a partnership that allows riders to use Paytm's Postpaid service to pay for rides.

This allows people to pay for rides after the trip, reports Times of India. Payments are funded via a Paytm account, with the consumer billed on a monthly basis along with a full range of Postpaid transactions.

Paytm is positioning the service as an expansion of its lending operating more than a way to encourage digital payments, given the mostly digital model that exists for both companies.

Trader's market

Portland, Ore.-based fintech Bumped has come out of beta testing, launching a service that uses stock purchases as a form of incentive marketing.

The firm has signed up 1,000 brand partners, who offer points-based rewards for increasing purchases. These points come in the form of stock investments executed by Bumped's app.

The concept is not a new one, as Stockpile offers a similar incentive. In both cases, the idea is to extend investing to a wider market by requiring less money to begin investing.

From the web

Alibaba, say U.S. was top seller to China during Singles' Day event
REUTERS | Thursday, November 12, 2020
Alibaba and said the United States was the top seller of goods to China during the Singles' Day shopping extravaganza that generated about $116 billion in merchandise volume for the pair.

Singapore looks to woo global tech execs with special visa
REUTERS | Thursday, November 12, 2020
Singapore on Thursday announced a new work visa for foreign executives of technology firms, a sector the low-tax global business hub hopes will power future economic growth.

Railsbank, the Banking-as-a-Service, raises $37M in growth funding
TECHCRUNCH | Thursday, November 12, 2020
Railsbank, the London-headquartered Banking-as-a-Service platform, has raised $37 million in new growth funding.

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