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3.27.19 Your morning briefing

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

Light on cash
Square is launching its invoices app in the U.K. for businesses that are concerned about the timing of their payments.

The app, which Square in 2018 tied to Google Pay and Square's own APIs in the U.S., helps businesses create, manage and send invoices. It also sends quotes and requests deposits.

Square attributed its launch to research showing 41 percent of U.K. small businesses are concerned about the cash flow challenges that can result from late payments. Square also cited U.K. government figures showing small businesses lose an average of about $11,000 per year to late payments.
Retail jungle
E-commerce giant Amazon has made major inroads into traditional brick and mortar over the past couple of years, acquiring Whole Foods and launching its cashierless Amazon Go stores.

Another e-commerce brand, Wayfair, is also expanding its offline channels, with plans to open a full service retail store in Natick, Mass. by the end of the year, reports TechCrunch.

Wayfair had earlier opened pop-up stores in Natick and Paramus, N.J.

Data sharing pairs
Open banking fintech Token.io has taken advantage of the bank technology push for PSD2 compliance by signing U.K. startup bank Tandem.

Tandem is a branchless financial institution that sells payment services, credit cards, financial management and savings accounts to more than 500,000 consumers, with a focus on open banking and fintech data sharing.

With the March 14 PSD2 testing deadline passed, the bank is looking to build specific services around data sharing and mobile payments.

McMachine learning
McDonald's has agreed to pay $300 million to buy Dynamic Yield, a Tel Aviv startup that builds technology based on big data and decision logic.

It's a mix McDonald's will use to streamline ordering and transactions in drive through lanes, reports Wired.

McDonald's plans to make offers and other digital content less static, using weather, time, traffic, nearby news and events to tailor sales and communication at specific locations.

From the Web

E-retailer Lazada looks to boost financial services as it takes a page from the books of Alibaba
CNBC | Wed March 27, 2019 - Alibaba-owned online merchant Lazada wants to boost its financial services business in a bid to gain an edge in South East Asia's competitive online retail market. Lazada is a Singapore-based e-commerce company. It hosts a platform which allows merchants to sell into the countries where it operates.

Payments giant Worldpay targets growth in Australia and New Zealand
Reuters | Wed March 27, 2019 - Payments group Worldpay said it was expanding its business in Australia and New Zealand, a new heavyweight disruptor vying for the business of the established payment networks and banks servicing most local firms.

Wirecard fraud probe leaves unanswered questions
The Straits Times | Wed March 27, 2019 - Wirecard AG tries to rebut allegations of fraud that have wiped more than 50 percent off the payment processing giant's market stock price. Lawyers hired by the company found no evidence of corruption and said there will be no material impact on the business's financial statements from wrongful accounting.

More from PaymentsSource

Citi's challenge in cross-border payments: Outsmart the tech giants
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Apple Card's rewards add fine print to Apple Pay Cash
Beyond Apple’s glitzy product rollouts this week, the tech giant quietly notified users of new policies and a fee to Apple Pay Cash, the account in which the Apple Card deposits rewards.

Banks lag in the POS credit race, but there's hope
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What the new Apple credit card means for Goldman Sachs
It’s not often that Goldman Sachs gets second billing. But amid all the glitz that accompanied the unveiling of Apple’s new credit card on Monday, the Wall Street bank's role was somewhat overshadowed.

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