Morning Brief 4.28.20: Paytm builds contactless ordering for restaurants
The information you need to start your day, from PaymentsSource and around the web:
Off the menu
Paytm plans to use a QR code system that allows people to browse menus and place orders at restaurants without touching the menu, a feature designed to appeal to restaurants by minimizing contact with menus and reducing interaction with servers.
Restaurants are generally closed in India because of the coronavirus outbreak, but Paytm is planning for a reopening, reports Business Standard. The product is scheduled to deploy in about three dozen cities and will target both quick-serve and dine-in establishments.
Paytm earlier in the pandemic upgraded its technology to improve processing for recurring payments such as utility bills.
CVS and UPS plan to use drones to deliver prescriptions to The Villages, a Florida retirement community.
The drones can travel 12 miles and carry up to five pounds, explains TechCrunch, and the Florida deployment follows an earlier project at a hospital in North Carolina.
Drones have been in development for several years as an emerging last-mile option, though there's potential for usage to accelerate if more people hope to avoid trips to stores during the pandemic.
Blockchain payment company BitPay is collaborating with digital asset exchange technology provider Binance to push Binance's stablecoin for merchant payments.
Merchants would be able to accept the currency, called BUSD, for cross-border payments without requiring added integration.
The partnership's wallet will go live with merchant support coming by the end of the week. The stablecoin is pegged to the U.S. dollar.
New Zealand is reopening most of its businesses as a four-week coronavirus lockdown comes to an end, but with restrictions that would mandate contactless payments.
Prime Minister Jacinda Ardern said business "must" be contactless, supporting online payments or other digital methods, reports the New York Post.
The standard would be one of the more bullish pushes for non-cash or plastic card payments, as governments and banks globally ease restrictions on contactless transactions.
From the web
Whole Foods is restricting cash payments in some stores
FORTUNE | Mon April 27, 2020
Reports began to surface on social media of Whole Foods stores restricting or even eliminating cash payments.
IRS says it has upgraded the coronavirus stimulus payment app
CNBC | Mon April 27, 2020
The IRS announced on Sunday it had made “significant enhancements” to the web portal, which first went live on April 15.
Oriente raises $50 million to continue building its infrastructure for digital financial services
TECHCRUNCH | Mon April 27, 2020
Oriente, a Hong Kong-based startup that develops tech infrastructure for digital credit and other online financial services, has raised $50 million for its ongoing Series B round.
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