In today’s top news, Visa’s new study found that commuters want contactless payments on public transit, and Robinhood opened trading with an estimated $31.8 billion valuation. Plus, PayPal’s second-quarter earnings revealed a surge in peer-to-peer (P2P) payments.
Visa’s “Future of Urban Mobility Survey” found that commuters want contactless payments, masks and social distancing on public transit, as they make plans to return to the workplace after more than a year of COVID-19 lockdowns and restrictions.
The digital stock market and cryptocurrency trading platform Robinhood opened trading on the Nasdaq on Thursday (July 29), under the ticker HOOD. At an estimated $31.8 billion valuation, Robinhood sold 55 million shares at the low end of its price range, still making it one of the most valued firms from the U.S. to list on the markets this year.
PayPal’s second-quarter earnings highlighted eCommerce, P2P payments and cryptocurrency trading as driving forces of the firm’s $6.24 billion in reported revenue.
San Francisco-based FinTech LendingClub said it had its most profitable quarter in company history on Wednesday (July 28). For the three months ending June 30, LendingClub said its revenues grew 93 percent as loan origination fees more than doubled.
Three-quarters of respondents in the PYMNTS’ Smart Receivables Playbook consider their own accounts receivable operations ‘somewhat’ or ‘slightly’ effective. The new findings from over 150 colleges and universities suggest academia needs to do more to keep pace with expanding digital payment capabilities.
Those tiered cash-back rewards plans of yore just aren’t cutting it with young consumers, Pam Habner, head of U.S. branded cards and unsecured lending at Citi, told PYMNTS, noting their preference for simplicity and getting good, old-fashioned money back.
Sen. Elizabeth Warren has likened bitcoin — and crypto trading — to “snake oil.” The regulatory gazes are tightening on exchanges and on speculation. Here’s what that means, perhaps, for cryptos’ commerce ambitions.