Morning Brief 8.20.20: JetBlue, Goldman offer installments for ticket sales

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The information you need to start your day, from PaymentsSource and around the web:

Connecting flight

JetBlue is getting in on the trend toward point of sale credit, a credit card alternative that is fueled by growing companies like Klarna, Splitit, Affirm and investments from the card networks themselves.

The airline will use an existing partnership with Goldman Sachs to support ticket purchases over installments, reports Travel Weekly, adding options and terms will be made available on JetBlue's app and site.

JetBlue works with Marcus, Goldman Sachs' consumer finance unit, and like all airlines is looking for ways to boost bookings as the coronavirus has dramatically reduced air travel.

Taking stock

Paytm is increasing its reach into investments through a partnership with StockHolding, one of India's largest online trading portals and custodial services with a network of more than 200 branches.

The two companies will provide payments and depository services through Paytm's app, reports CRN News in India. All payments tied to StockHolding will funnel through Paytm.

Paytm is one of India's largest payment companies, and has diversified into several other businesses, including investing and entertainment.

New push

Mastercard and Toronto-based fintech AptPay are trying to address small-business liquidity problems through a real-time payments integration.

AptPay, which serves mostly insurance, gaming, entertainment and gig economy companies, will link to Mastercard's push payments product to support faster funds access via digital wallets, bank accounts and prepaid cards.

The two companies are also trying to reduce the use of checks, which still account for about half of transactions for small businesses, though several companies are offering technology to reduce paper check use.

Emergency pay

Paysafe, Bankable and the British Red Cross are collaborating to issue prepaid Visa cards for disasters and other emergencies.

The cards will support the on the ground financial aid that the Red Cross provides, giving an alternative to cash for people who are concerned about using paper bills, according to Paysafe. The cards can be used at any location that accepts Visa cards.

Like a lot of countries, people in the U.K. have moved away from cash in droves, though it's unlikely that cash is contagious.

Challenger

Payment technology company FSS Technologies is approaching small businesses with a new acquiring platform, hoping to hone in on a market dominated by Stripe, Square and PayPal.

Called Embark, the "acquiring as a service" model is focused on banks, payment aggregators and small merchants. FSS hopes to reach micro, small and medium enterprises, contending this segment is underserved and can be reached by avoiding complicated integrations and pooling resources.

Embark's services include online and in-store acceptance, processing, authentication, authorization and settlement.

From the Web

Max Levchin is looking ahead to fintech’s next big opportunities
TECHCRUNCH | Wednesday Aug 19 2020
Max Levchin needs little introduction in the world of tech. As an entrepreneur, he’s been the co-founder of PayPal (now public), Slide (acquired by Google) and Affirm (reportedly about to go public), some of the hottest startups to have come out of Silicon Valley. And as an investor, he’s applied his power of observation and execution also towards helping many others build huge technology businesses.

Instacart will cover the cost of its shoppers' COVID-19 screenings
ENGADGET | Wednesday Aug 19 2020
Instacart will cover the cost of COVID-19 screenings and virtual medical appointments for shoppers until the end of the year. The company ran a pilot project on that front earlier in the summer in Pennsylvania and Washington, DC, and now it’s rolling out the program nationwide.

Pro-Bitcoin Senate Candidate Wins Primary Race in Wyoming
COINDESK | Wednesday Aug 19 2020
Cynthia Lummis, a former U.S. Representative and current bitcoin advocate, has won her primary race to join the U.S. Senate representing Wyoming.

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