Morning Brief 6.2.20: Pinterest adds shopping tab as a coronavirus recovery play
The information you need to start your day, from PaymentsSource and around the web:
On the tab
Pinterest reports three times as many people are using its camera feature for searches as shoppers and retailers move online during coronavirus shutdowns.
That's led to its adding a Shop tab in its lens camera search results. The tab shows available merchandise at a retailer that matches a photo the user took in person or uploaded as a screenshot, reports TechCrunch, adding a list of "shoppable pins" results. The tab links to the retailer's checkout page.
Pinterest had been developing the technology, but has pivoted its marketing to accommodate the pandemic, switching the positioning from a way to shop while out to messaging around searching and shopping at home to upgrade household items.
Block and tackle
Japanese merchant acquirer JCB and accelerator Techfund are partnering to research a blockchain payment network that could address both consumer and business use cases.
The system is based on Techfund's existing blockchain technology including STO, which raises funds through tokenized securities; and staking, which earns rewards by holding cryptocurrencies.
That technology will be offered to JCB's network, which has more than 34 million merchants in 24 countries and territories, covering more than 140 million cardholders.
To the curb
Grocery chain Aldi has expanded its curbside pickup to more than 600 locations as a way to move more traffic out of stores due to coronavirus concerns.
The service has been in pilot at 100 stores for more than two years, but has accelerated the deployment pace, which the additional 500 stores expected to come online in the next several weeks, according to Supermarket Perimeter.
Aldi is partnering with Instacart to power the curbside service. Aldi also uses Instacart to manage its delivery service.
One97 Communications has complained to an Indian court in Delhi that telcos aren't doing enough to block phishing attacks on mobile networks, which is endangering One97's Paytm platform.
One97 contends Airtel, Reliance, Jo, BSNL, MTNL and Vodafone have violated a 2018 regulation that requires telcos to curb unsolicited commercial communications, reports Business Standard.
Under the regulations, the telcos are required to verify marketers and take action against falsely registered marketing. One97 claims the telcos did not take proper verification steps, which allowed fake telemarketers to attack Paytm's consumers and related third parties.
From the web
Australia's Zip taps US market with buyout of buy-now-pay-later peer QuadPay
REUTERS | Tue June 2, 2020
Australian buy-now-pay-later company Zip Co Ltd said it will buy New York rival QuadPay Inc in an all-share deal that values the target at $269 million, joining a rush of Australian companies to tap the world’s largest consumer market.
Visa Sees Solid Uptick In Spending As Lockdown Eases
YAHOO FINANCE | Tue June 2, 2020
Visa has indicated a solid uptick in consumer spending from April to May, as it continues to actively monitor the Covid-19 impact globally. Total U.S. payments volume declined 5% year-over-year, a 13 percentage point (ppt) improvement over April.
Payment App Data Breach Exposes Millions of Indians' Data
INFOSECURITY MAGAZINE | Mon June 1, 2020
Researchers at vpnMentor discovered that all the personal user data related to a sign-up campaign of mobile payment app Bharat Interface for Money (BHIM) was publicly accessible after being stored in a misconfigured Amazon Web Services S3 bucket.
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