Morning Brief 10.23.20: Lyft adds Venmo, WhatsApp adds in-chat purchases
The information you need to start your day, from PaymentsSource and around the web:
Sharing a ride
Lyft plans to add Venmo as an option to pay for rides, an option that also allows groups to split the fee for a single ride. The support extends to bike and scooter journeys.
The payment option requires consumers to have the latest version of both apps, with a consumer choosing a person who's covering the entire fee for a mobile transfer, reports Engadget, adding Lyft is trying to add as many transaction options as possible.
Venmo plans to allow bitcoin, Ethereum, Bitcoin Cash and Litecoin transactions in early 2021, potentially broadening payment types for partnerships such as Lyft.
Off the menu
Restaurant commerce company GoTab is expanding outside of that category, approaching grocery, gas stations, event spaces, stadiums, golf courses and general retailers.
The four-year-old GoTab uses a cloud-hosted system to add digital functions on top of payment acceptance, such as remote kitchens, outdoor pickup, delivery and pop-up grocery store support.
The pandemic has pushed businesses to try new technology earlier than they had planned, giving GoTab a potentially larger addressable market.
Speaking of shopping
Facebook has updated WhatsApp to allow purchases directly from chats, another in a series of moves the social network is making to link different properties with shopping and checkout.
Users send a message to a business and receive a link to a product in return. The shoppers add items to their cart and checkout from the app, reports Engadget, adding Facebook Pay would be the likely payment method.
Facebook has added its payment app to several of its sites, and has centralized users' payment credentials to make it easier to shop and make purchases over multiple sites as part of the same experience.
HSBC is installing more than 250 contactless donation boxes in Canadian branches to support donations for the Remembrance Day veterans holiday.
The Pay Tribute Poppy Box allows consumers to tap their phone against a glowing poppy to make a $2 donation. The bank has partnered with the Royal Canadian Legion to design the boxes, which are shaped like headstones of fallen soldiers, reports Finextra.
Contactless donations have been on the rise for the rise for several years, and have expanded quickly during the pandemic as churches and other philanthropic initiatives use the technology to offset the loss of cash and check donations.
From the web
Chinese Fintech Company Lufax Seeks Up to $2.4 Billion in U.S. IPO
THE WALL STREET JOURNAL | Friday, October 23, 2020
Lufax Holding Ltd., a smaller rival to Chinese financial-technology giant Ant Group Co., is seeking to raise as much as $2.4 billion from an initial public offering in the U.S.
India’s Flipkart buys $204 million stake in Aditya Birla Fashion and Retail
TECHCRUNCH | Friday, October 23, 2020
Flipkart is acquiring a 7.8% stake in Aditya Birla Fashion as the Walmart-owned Indian e-commerce firm makes further push into the apparel category in one of the world’s largest retail markets.
Instacart will accept food stamps for grocery delivery
ENGADGET | Thursday, October 22, 2020
Grocery delivery service Instacart will soon begin accepting food stamps as a form of payment within its app. The company announced that “in the coming weeks,” it’s beginning a pilot with grocery chain Aldi to accept food stamps for its same-day delivery and pickup service.
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