Morning Brief 1.9.20: PayPal seeks tech for Indian restaurant expansion
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On the menu
PayPal's Indian unit plans to use "food technology" as a main cog in its expansion plans for that country, hoping to capitalize on what it says is a growing trend toward online food ordering.
PayPal will work with technology partners to build its presence in India, reports Hindu Business Line, which cited an interview with Siddharth Dhamija, director of PayPal India.
Dhamija did not list specific partners, though Swiggy or Zomato would be possibilities, according to Business Line. Food delivery service Swiggy recently passed the $3 billion valuation plateau, while Zomato has worked with Paytm in the past.
The Central Bank of the Bahamas is introducing its own digital currency with a test in Exuma and a broader rollout later this year.
Called Project Sand Dollar, it's part of the Bahamanian Payment Systems Modernization Initiative, a digital payments and financial inclusion project.
The Bahamas joins a growing number of countries issuing or considering central bank digital currencies, including Sweden, France, China and others. These projects are often designed to counter Facebook's Libra project or the influence of large technology companies on payments and retail.
NTT Docomo, Sony and NXP Semiconductors have built a concept point of sale system that allows shoppers to make NFC payments without having to wave their phone near the terminal.
The three companies are using ultra-wideband (UWB) technology, which is a data transmission technique that allows reading over a wider range, reports Finextra. The companies hope this allows hands-free payments, as long as the shopper has the phone in a pocket or bag, while retaining authentication and security systems.
UWB could be particularly useful for transactions that require extra speed and high volume, such as drive-throughs, parking meters and ticketing kiosks at transit systems.
Whole new ball game
Former Red Sox President and CEO Larry Lucchino is collaborating with Standard Cognition to sell autonomous checkout to sports and entertainment facilities beyond Polar Park, the new stadium for the AAA Worcester Red Sox. Lucchino is currently chairman and principal owner of the Worcester Red Sox.
The minor league Sox's "Left Field Park" uses AI and machine vision to identify items and execute payments without checkout, and will serve as a potential template for other venues.
The minor league park is one of the first sports facilities to include a checkout-free concession area, with other early adopters including the Sacramento Kings, which use technology from Zippin.
From the Web
Mastercard launches augmented reality app that brings card benefits to life
CNBC | Wed January 8, 2020
Mastercard announced a new augmented reality (AR) app. Consumers with a credit card backed by Mastercard can see, explore and access their card benefits through a photo-realistic AR experience. App users will be transported to a 360-degree virtual environment, where a series of interactive portals brings their card benefits to life. Everything from Priceless experiences to safety and security benefits can be viewed via the app.
Paytm targets merchants to fight back Google and Walmart in India’s crowded payments field
TECHCRUNCH | Thu January 9, 2020
Paytm announced two new features for businesses as the financial services firm looks to expand its reach in the nation that has quickly become one of the world’s most crowded and competitive payments markets. Its app for businesses now features an “all-in-one” QR code system to accept payments from multiple platforms, including mobile wallets and those that are powered by UPI.
Mediaocean Announces Amino Payments as First Blockchain Partner to Deliver Supply Path Insights for Programmatic Buys
YAHOO FINANCE | Thu January 9, 2020
Mediaocean, the foundational software provider for the advertising world, announced Amino Payments as the first partner that will utilize blockchain technology to provide the first fully transparent media supply chain, enabling spend optimization across the programmatic media.
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