Morning Brief 7.29.20: Mastercard, Microsoft extend tech partnership

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

M&M labs

Mastercard and Microsoft are expanding their collaboration to accelerate work on cloud research at Mastercard Labs and combine Azure and artificial intelligence.

The two firms plan to develop and test augmented and virtual reality and the internet of things to create new user experiences for consumers, companies and governments, reports Indiatvnews. The firms will work with startups with a focus on financial inclusion.

Mastercard and Microsoft have co-developed technology in several areas, including digital identity, business payments and anti-hacking strategies.

Compare and contrast

Shortly after picking up a fresh $80 million from VC investors, Revolut has added Moneysupermarket's white-label technology as part of a price comparison service.

Customers will be able to compare recurring bills from a range of suppliers, make changes and access incentives through Revolut's app.

Revolut recently entered a partnership with Amex to improve its ability to link to third-party technology firms through open banking.

Free food?

Two Chick-fil-A franchises are offering food in exchange for coins. While that sounds like the most mundane thing ever, the stores are linking it to a coin shortage.

The franchises, in Huntsville, Ala., and Lynchburg, Va., are accepting $10 worth of rolled coins in exchange for a $10 bill and a card for a free sandwich, reports CNBC, adding the stores were in danger of running out of coins.

Coronavirus workarounds, including closed stores and a rush to digital commerce, has slowed the flow of coins over the past few months, creating sporadic shortages.

New exec

Former PayPal finance director Scott Weller has joined Curve as its first chief financial officer.

Curve has tweaked its all-in-one card model over the past year, launching a metal card without account numbers and branching into international funds transfers.

It also added support for all three major mobile wallets in the past year to increase its merchant reach and to boost the mobile payment app's ability to reach markets with low bank support.

From the Web

TransferWise confirms new $5B valuation following $319M secondary share sale
TECHCRUNCH | Wednesday, July 29, 2020
TransferWise, the London-headquartered international money transfer service, is disclosing that it is now valued at $5 billion by private investors, confirming an earlier Sky News report. The new valuation represents an increase of 43% since May 2019, and has been triggered by a further $319 million in secondary share sales.

Fintechs face pressure to grow up as coronavirus casts a chill
REUTERS | Wednesday, July 29, 2020
Aritra Chakravarty, founder of London-based online accounts and investments provider Dozens, admits it's a tough time to be seeking up to 15 million pounds ($19 million) for a start-up.

With Robinhood’s UK launch delayed, eToro to bring out UK debit card following acquisition
TECHCRUNCH | Wednesday, July 29, 2020
Investment app eToro is to launch a debit card, following its acquisition of Marq Millions Ltd, the UK based e-money business. Marq Millions will now trade as eToro Money and will be the issuer for eToro’s card. The acquisition was for an undisclosed amount, and the Marq Millions management team stays on.

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