Morning Brief 5.19.20: Panera Bread adds location tech for curbside pickup

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

Curbing friction

Panera Bread is adding technology to streamline the curbside pickup that many businesses are using to adhere to coronavirus restrictions.

One feature allows consumers to add information about their car to help deliverers, while another offers an "I'm here" button to avoid calling the restaurant to announce arrival. Another option is an opt-in geofence that automatically tells the restaurant the patron has arrived, avoiding all other steps.

The Spoon reports the geofence option is likely a long-term plan, given Panera already uses digital technology to manage crowds, so there's less of an adjustment. Also, the curbside pickup workaround is likely a temporary restriction during phased reopenings, while an automatic sensor could be a sustainable way to streamline drive-thru lanes.

Taking flight

Revenio Capital has led an investment of about $43 million in Fly Now Pay Later, a London fintech that provides digital payments for the travel industry.

The company applies the point of sale credit model to travel, allowing travelers to pay for bookings over monthly installments, usually lending between $130 and $3,300. It hopes the funding and business model will enable it to navigate travel shutdowns by moving bookings and payments into the future.

Fly Now Pay Later will also use the investment to expand beyond its B2B model, offering a consumer version for vacation travel later this year.

Risk from home

The massive migration of bank employees to work-from-home arrangements is increasing the risk for payment fraud and other cyber theft.

The European Central Bank has issued a warning that asks banks to measure increased stress on processing systems and take steps to reduce vulnerability of remote access, reports Finextra.

IT deficiencies in payments and financial services are among the top three risks for banks in 2020, the ECB says, recommending banks nominate more board members with IT risk experience.

Mobile whopper

Burger King is piloting a click-and-collect operation at about four dozen locations in the U.K. as part of a strategy to accommodate closed dining areas during the coronavirus outbreak.

The fast food chain is partnering with quick serve support firms Moto and QikServe to allow consumers to use a smartphone to browse menus, select a site and pickup time and pay for their order. The order can be picked up at a collection point or be delivered to the consumer's vehicle.

Moto, which has a network of quick service chains in its client base, such as KFC and Costa, hopes to expand beyond Burger King in future rollouts.

From the web

Treasury is starting to send some stimulus payments on debit cards
CNN | Mon May 18, 2020
The Treasury Department said Monday that it will start issuing some stimulus payments by sending a debit card to people in the mail.

PayPal sees a rise in ‘silver tech’ as older generations test digital payments
CNBC | Mon May 18, 2020
PayPal has seen an older audience flock to digital payments as cash is seen as a germ risk and people across the U.S. stay at home. This cohort of “silver tech” helped PayPal’s total payment volume recover back to “pre-Covid” levels, CFO John Rainey said.

FBI warns about attacks on Magento online stores via old plugin vulnerability
ZDNET | Mon May 18, 2020
The FBI says hackers are exploiting a three-year-old vulnerability in a Magento plugin to take over online stores and plant a malicious script that records and steals buyers' payment card data. Ideally, store owners should be updating their entire shops -- not just the MAGMI plugin -- to version 2.x, which will continue to receive security updates going forward.

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