2.13.19 Your morning briefing
The information you need to start your day, from PaymentsSource and around the Web:
Crowdsourced delivery startup Deliv is quitting a pilot program with Walmart, partly due to drivers having to wait up to 40 minutes at Walmart stores for their orders, according to Reuters.
Seamless delivery is part of the battle between Walmart and Amazon, with ride-sharing apps, self-driving cars, smart doorbells and Walmart's own employees all getting put to the test with mixed results.
Deliv was an early participant in a Walmart pilot in San Jose and Miami, but recently gave the retail giant its 90-day notice. Part of the problem was Walmart's prioritization of in-store operations over delivery drivers during normal business hours, reports Reuters. Walmart confirmed the cancellation to Reuters, but noted it still has seven delivery partners and plans to add delivery to more stores this year.
Bill.com plans to open a 25,000 square foot office in Houston this spring, and is hiring developers and other payment experts to fuel its expansion.
It's the company's first location outside of the San Francisco Bay area, and Bill.com plans to work through local technology connector Station Houston and Rice University to build out its local operation.
Bill.com also got a boost through a recent partnership with American Express to produce virtual account numbers for supply chain payments.
Bolt for Lightning
Square may support Bitcoin's Lightning Network, bringing cryptocurrency transactions closer to mainstream payments.
Square CEO Jack Dorsey said he wants to make bitcoin as fast and transactional as possible, and that includes looking at Square's seller base and payment services, reports Bitcoinist and the Stephan Livera podcast.
Square supports bitcoin trading, and more than half of Square's merchants recently expressed an interest in accepting bitcoin payments.
Indian food delivery service Swiggy is moving closer to a full shopping center as it adds a "stores" product.
Stores will offer fruit, vegetables, a full supermarket service, health care products, medicine, and other products, reports TechCrunch.
Swiggy has attracted large investors, recently raising a Nastere-led $1 billion round in December. Swiggy's valuation is $3.3 billion, and it has also raised funds from Tencent.
From the Web
Indians Lost $2.3 Billion in Remittance Payments in 2018; Can Bitcoin Help with Near-Zero Fees?
CCN | Tue February 12, 2019 - Money transfers cost citizens and non-residents over $2.3 billion in fees last year for clearing payments into India, the world’s biggest market for inward remittance. Nischal Shetty, the CEO of local Bitcoin exchange WazirX, said that the dominant cryptocurrency could bring down remittance costs to near zero.
Payment by phone sees big growth overseas
China Daily | Tue February 12, 2019 - Swiping phones for payment is shaping up to be the new norm for Chinese people shopping overseas, as the adoption of mobile payment becomes more evenly distributed by age and geographical location. Customers in their 50s saw a 1.3-fold increase in Alipay usage as they traveled overseas during the Spring Festival holiday.
French payments firm Ingenico sees return to profit growth
Reuters | Tue February 12, 2019 - French payment processing firm Ingenico’s new management forecast a return to core earnings growth this year, driven by its retail division and a steadier performance at its banks business that triggered profit warnings in 2018.
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