Morning Brief 10.8.20: DoorDash adds at-home corporate deliveries
The information you need to start your day, from PaymentsSource and around the web:
DoorDash is attempting to adjust to remote work by adding corporate members to its DashPass subscription program, allowing companies to offer meal credits to staff to expense meals that come from DoorDash and its subsidiary Caviar.
Group ordering and staff gift cards are also part of the service, reports CNBC. More than 4,000 businesses are supporting the new program, including Zoom, Charles Schwab and Hulu. DoorDash hopes the corporate feature will shore up a gap in what has otherwise been a growth period for food delivery apps.
A recent report from Stanford University found 42% of the U.S. workforce is working from home, accounting for about 66% of the nation's GDP. Food delivery was already a $27 billion industry at the beginning of 2020, and the move to remote work and restaurant restrictions have given it an added boost.
Bank of America has added three APIs designed to expand real-time corporate payments.
The APIs cover FX settlement, the retrieval of check images and pulling reports, and are designed for treasury departments that are responsible for B2B and B2C transactions.
BofA's APIs now support live trading with the bank's FX desk, FX rate holds for up to 180 days and the ability to bundle payments in a single FX transaction. More than 100 currencies are covered, allowing use cases such as trading via API and settling via Swift, or trading online and settling via an API.
Global payments platform Play2Pay has added a feature that ties bill payment to video gaming.
Smartphone users can pay service providers as part of a game experience, and can watch videos tied to special offers. Pay2Play has a reach of about 45 million users and in a release says its negotiating further deals that would extend that reach to 300 million.
Consumers using Pay2Play find new apps and brands while gaming, and convert time spent on the apps into payments. The brands obtain a direct connection with consumers, and the telcos get more engaged consumers, Pay2Play contends.
Account-to-account payment firm Nuapay has entered an agreement with Visa's Cybersource global payment management platform to support recurring payments.
Nuapay hopes to reach subscription businesses, which have grown during the pandemic relative to other business models as consumers turn to streaming content and delivery services.
Nuapay's cloud collects subscription payments, and an integration with Cybersource allows users to more easily access SEPA, Bacs and other transaction rails.
From the web
Lydia partners with Tink to improve open banking features
TECHCRUNCH | Thursday, October 8, 2020
French fintech startup Lydia is going to work with financial API startup Tink for its open banking features in its app. Lydia started as a peer-to-peer payment app and now has 4 million users in Europe.
Dick's Sporting Goods to hire 9,000 holiday season workers, eyeing surge in online orders
REUTERS | Thursday, October 8, 2020
Dick's Sporting Goods said on Thursday it will hire up to 9,000 workers to cover the key holiday season in its stores, 1,000 more than last year, expecting a jump in online orders for curbside or in-store pickups amid the coronavirus pandemic.
Consumers spent a record $28 billion in apps in Q3, aided by pandemic
TECHCRUNCH | Thursday, October 8, 2020
According to a new report from App Annie, consumers in the third quarter downloaded 33 billion new apps globally and spent a record $28 billion in apps — up 20% year-over-year. They also spent more than 180 billion collective hours each month of July, August and September 2020 using apps, an increase of 25% year-over-year.
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