Morning Brief 9.15.20: Wirecard finds local buyer for its Australian unit
The information you need to start your day, from PaymentsSource and around the web:
Wirecard's breakup is accelerating, with Australian payments company Change Financial agreeing to buy operations in Australian and New Zealand for $7.8 million.
Change will pick up card management, mobile payments and a managed testing hub, reports Finextra. The Australian and New Zealand operations are not part of the parent Wirecard AG, which has suffered an accounting scandal in recent months, causing the fast sale of several companies directly and indirectly tied to Wirecard.
Wirecard at the end of August reached a deal with open banking and payments technology company Railsbank to sell Wirecard's U.K. division. PagSeguro Digital acquired Wirecard's Brazilian division.
UberEats has added a contactless pre-order and pay feature for dine-in patrons as more restaurants open for in-person service.
Consumers scan a QR code at the restaurant or find the restaurant on UberEats' app to preorder and pay. The food is then brought to the table, with a "to go" option that allows pickup, according to Restaurant Business.
The feature will launch in New York, Philadelphia, Chicago, Boston, Washington, D.C., Vermont and California. Uber in July acquired Postmates for $2.65 billion, partly to bolster its mix of online order, payments and delivery for restaurants as Uber's core ride-sharing business declined.
Game now, pay later
GameStop is getting in on the point of sale credit trend, adding QuadPay as an option ahead of the 2020 holiday shopping season.
Consumers and merchants have flocked to buy now/pay later during the coronavirus pandemic and subsequent financial crisis as consumers look to avoid revolving debt for larger purchases.
Gaming is another industry that has grown quickly during 2020, as young people have been homebound due to remote schooling and cancelled summer camps. QuadPay reports gaming is the fastest growing category on its platform, expanding 98% from March to September.
Reason to stay
The pandemic has hit the travel industry particularly hard, leading to rapid changes in spending patterns.
To provide a boost to the early stage recovery, Hotels.com is tweaking its incentive marketing through a new Visa rewards card that issues virtual stamps for each stay booked via the site, reports CNBC.
Wells Fargo is the issuer of the card, which includes added incentives for spending levels, which is designed to accrue the "stamps" faster.
From the web
Klarna raises $650 million at a $10.6 billion valuation
TECHCRUNCH | Tuesday, September 15, 2020
Fintech startup Klarna has raised a mega-round of funding led by Silver Lake. The company is raising $650 million at a post-money valuation of $10.65 billion. Klarna says it is now the highest-valued private fintech company in Europe following today’s funding round.
Facebook announces $4.3 million grant for small businesses in India, introduces support for gift cards
TECHCRUNCH | Tuesday, September 15, 2020
More than a third of small and medium-sized businesses on Facebook in India expect cash flow to be a challenge for them as they navigate through the coronavirus pandemic in the next few months, according to a report by Organisation for Economic Co-operation and Development (OECD) and the World Bank.
Why Walmart still wants in on the TikTok deal
REUTERS | Monday, September 14, 2020
Walmart Inc said it is pressing ahead with its goal to invest in TikTok as Oracle Corp takes the lead in a partnership with the Chinese video-sharing app.
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