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Mastercard’s Virtual Mobile Cards, Ghost Kitchens, Geolocation Data Top This Week’s News

This week, Stripe introduced banking services, we get a glimpse of the EU’s upcoming Digital Services Act and PYMNTS’ data reveals online purchases ruled Black Friday. The Weekender can catch you up.


Mastercard Intros Mobilized Virtual Cards; Defines Intersection Between Functionality And Security

The virtual card offers a strong value proposition for corporates in the form of enhanced security and control over spend. But without support for mobile wallets, v-card adoption can lag. Mastercard this week announced its virtual mobile card solution for businesses aimed at marrying the security of v-cards with the ease-of-use of mobile payments. Senior Vice President of Travel and Expense Adam Jones spoke with PYMNTS about how these features intersect to drive a behavior change in commercial payments.

Stripe To Offer Banking As A Service To Merchants On Its Platform

Stripe will now offer its users — including new customer Shopify — a range of financial services in a new venture called Stripe Treasury. The offering works with Citigroup, Goldman Sachs, Barclays and other financial institutions, and includes offering debit cards and bank accounts.

FedEx Makes Major Foray Into eCommerce By Buying ShopRunner

FedEx has acquired ShopRunner, an eCommerce platform that provides access to shopping and two-day delivery to over 100 brands. The acquisition pushes the delivery firm into the center of the explosively growing eCommerce ecosystem.

UPS Caps Deliveries From Gap, Nike, Other Big Retailers

UPS reportedly told drivers this week to pass pickups from Gap, Nike, Macy’s, and several other large retailers — with “no exceptions,” a rule drivers have not seen before, in an attempt to keep up with a holiday shopping season unlike any other.

PayPal’s Bitcoin Backing Proves Crypto Is Ready For Prime Time (And Grandma)

Regulatory hurdles still exist, but when PayPal announced that its 350 million users can transact with bitcoin and other cryptocurrencies, the game changed. Daniel Gouldman, CEO of crypto banking platform operator Ternio, told Karen Webster that even Grandma can now access a new way to interact with currency.

Top Trackers And Reports

NEW DATA: Black Friday 2020: COVID-19 Steepens Physical Retail’s Long Slide

A PYMNTS survey of a national sample of 2,147 U.S. consumers shows 75 percent of Black Friday 2020 shoppers made purchases online — and 30 percent of those shoppers used only digital channels. COVID played a role, but shoppers overwhelmingly cited convenience as the number one reason why they shopped online — leaving physical retail to ponder its future as digital-first and digital-only consumers seem just fine leaving physical retail behind.

New Data: Consumers Want Banks To Use Location Data To Keep Accounts, Transactions Fraud-Free

Geographic location data offers enormous potential in the fight against fraud, but just 28 percent of consumers are currently sharing such details with their banks. Why the disconnect? In Location, Location, Location: How Location Data Can Help Banks Fight Fraud, PYMNTS surveyed over 2,000 U.S. consumers to reveal how banks can tap into geolocation data to appeal to new customers, retain existing ones and keep accounts secure.

NEW DATA: What US Consumers Want Grocery Stores To Know About How They Want To Shop And Pay

For consumers who still want to buy their groceries at brick-and-mortar stores, being able to shop and pay for them in a touchless manner has become key. More than one-third of consumers — 65 million individuals — would be willing to switch grocers in order to access touchless payment experiences. In the Omnichannel Grocery Report, PYMNTS surveyed more than 2,000 consumers to explore the key shopping and payments innovations that help grocers meet customers’ expectations.

Fun, Cool And Otherwise Interesting

Buy Now, Pay Later Comes To Professional Services

Adoption and inclusion of installment plan offerings have grown tremendously this year — and not just in the retail industry. QuickFee helps businesses pay for professional services using installment plans, allowing more businesses to get access to costly services they need, and the professional service firms get access to their full payment upfront.

Wendy’s Adds Flavor To Ghost Kitchen Movement

Dining in went out when shutdowns came, and consumers continue to turn to online ordering channels despite restaurant reopenings, turning ghost kitchens from merely a potential dining segment disruptor to a booming opportunity for restaurants to keep up with the digital shift.

COVID Vaccine Adoption Creates New Class Of Influencer

As officials grapple with how to convince consumers to get the COVID-19 vaccine when it becomes available, a new style of influencer has cropped up. One that is helping people feel safe doing things that they might otherwise put off.

EU’s Digital Services Act Advocates Speak Up

The Uropean Union’s Digital Services Act (DSA), has its detractors — particularly Big Tech — and its advocates — EU legislators. As it concerns itself with competition and content, expect that both sides will continue to weigh in with their perspectives as the government prepares to release a draft of the legislation on Dec. 9.

Libra Launch Signals Sparks Between Big Tech, Central Banks On Digital Currencies

Facebook’s Libra is coming to market after a gestation period of more than a year. But central banks are gearing up for their own digital currencies. Will regulators tip the playing field in favor of (digital) fiat?

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