Morning Brief 11.14.19: Walmart adds Siri for voice ordering
The information you need to start your day, from PaymentsSource and around the web:
Walmart has added Siri support to its Walmart Voice Order service, giving Walmart another voice technology channel to counter Amazon's expanding reach into voice commerce.
Shoppers can build their online basket by saying the words "Add to Walmart" and naming the product to add to the cart. They will be able to directly address "Siri" by pairing their Walmart accounts to an iPhone or other Apple devices.
The feature is designed to improve with usage, according to Walmart, which says purchase histories will inform future choices. For example, saying "orange juice" will result in the consumer's preferred brand and type of orange juice.
Google Pay is lining up banks to build a market in Singapore, with DBS announcing it will support Google's app in early 2020.
The bank is testing the service, which will allow P2P transfers, online and in-store payments. DBS will additionally add incentive marketing through Google Pay.
OCBC Bank will also offer Google Pay in Singapore by early 2020. Google is using Singapore's PayNow rail to build a market in Singapore, a similar strategy to India, where Google is using a connection to India's UPI rail to grow mobile payments.
A U.K. fintech called DressCode has developed a shirt that can be used to make payments.
The shirt is tailored and has a contactless chip in the cuff, reports Finextra. Users control the shirt through an app that allows specific funds to be allocated to a virtual card, as well as switch the shirt "on" and "off."
Using wearables to make payments isn't unusual, though the market is still limited mostly to very early adopters. There is a portion of the market that is dedicated to high-end fashion such as jewelry.
Stuffed bear NFC
The decline of cash has caused an uptick in innovation to support donations, which traditionally relied on paper and change.
Nuapay, an open banking fintech, is collaborating with mobile technology company Thyngs to create stuffed bears with NFC chips in their ears. Pedestrians can use their phones to make a donation at offices, bars and restaurants in London.
The payments take about 20 seconds, and can be executed by a pre-installed mobile banking app.
Restaurant payments and management platform Toast has launched Toast Capital to provide funding for clients' capital needs.
Toast users can apply for needed funds in just minutes and receive funds if approved at a fixed cost, depending on the size of the restaurant, in one business day.
Funding is available between $5,000 and $250,000, depending on eligibility, Toast said. Loans are paid off as a percentage of daily credit card sales.
From the web
SoftBank's Yahoo Japan confirms merger talks with Line, shares jump
REUTERS | Thu November 14, 2019
SoftBank’s Yahoo Japan, one of Japan’s top internet firms, confirmed it is in talks to merge with Line Corp (3938.T), a $27 billion union that would bring the messaging app operator under the SoftBank umbrella as it expands e-commerce and payments services.
Patrick Ngan Teases Asia's First Unified Crypto-Fiat Payment System
COIN TELEGRAPH | Thu November 14, 2019
Speaking onstage at BlockShow 2019 in Singapore today, Alchemy Global Payment Solutions (Alchemy GPS) co-founder Patrick Ngan discussed some details of how his company is making it easier to pay for everyday goods and services with cryptocurrency. Ngan emphasized the power of choice to make consumers and merchants happier. Calling his company’s “the first unified crypto-fiat payment solution in Asia,” he described a merchant product that lets the customer decide whether they want to pay in local fiat currency or a popular cryptocurrency of their choice.
SiS-id partners Tradeshift to tackle payment fraud
VERDICT | Wed November 13, 2019
Fraud protection specialist SiS-id has joined forces with Tradeshift, a cloud-based platform for supply chain payments and marketplaces, to minimize payment fraud. Under the collaboration, the My SiS-id app will now be available on the Tradeshift app store. The app is designed as a blockchain-based platform that validates banking payment contact data.
More from PaymentsSource
How much longer can politicians prop up cash?
Large brands such as Barclays and Amazon recently reversed course and allowed cash to accompany clearly digital strategies, moves that made more sense politically than economically. The question is how long public policy can be the main factor in slowing cash’s decline.
Boost to deliver electronic payments for JPMorgan commercial cards
With a growing number of banks adopting digital technology to move B2B commercial cards into mobile wallets, JPMorgan is collaborating with Boost Payment Solutions to automate the delivery of single-use and commercial card accounts to clients.
Big payment deals are just getting started
Last year, firms like CB Insights predicted that the fintech industry would see less merger and acquisition activity than in years past.
How Adyen's using in-house issuing to counter bank and fintech rivals
Adyen has traditionally focused on streamlining card acceptance, processing and settlement for online payments, and now it wants control more of the merchant relationship by issuing its own virtual and physical payment cards.