In today’s top news, eBay will offer loans to U.K. small- to medium-sized businesses (SMBs), and Rite Aid will offer same-day delivery through DoorDash. Plus, Revolut has added an array of features for its retail investors.
eBay is launching a new financial services tool — Capital for eBay Business Sellers (CEBS) — that will extend loans to the SMBs selling on its platform in the U.K. Partnering with YouLend, the online marketplace will offer loans ranging from 500 pounds to 1 million pounds ($702.75 to $1.4 million) to its 300,000 sellers, positioning eBay as a competitor to its former subsidiary PayPal as well to other financial institutions (FIs).
DoorDash is teaming up with pharmaceutical company Rite Aid for delivery of everyday needs in as little as two hours. The company aims to extend as many delivery options to its customers as possible as it continues to expand its offerings in the convenience space.
Revolut added an array of products and features for its retail customers Tuesday (May 11), including the ability to shop securely online through a Revolut browser extension as well as the ability to add purchase protection and other insurance benefits. The FinTech also now allows users to track cryptocurrency and commodity price movements.
Consumers are continuing the pandemic-fueled habit of paying off credit card balances, a practice that now has bankers more than a little worried. Some of the biggest banks in the U.S. are stepping up marketing efforts and incentives to attract a larger and stronger customer base of card users.
Consumers are heading back to physical stores — and they’re taking their digital payment habits with them. In Anatomy Of A Consumer Payment Playbook, Neal Patrick and Ashley Arbuckle-Nadon of skincare retailer L’OCCITANE explain how offering contactless transactions can help retailers smooth the wrinkles out of in-store digital payments and keep pace with consumers’ connected commerce demands.
Bill presentment and payment is ready for a more robust digital makeover. Russ Waterhouse, executive vice president of Product Development and Strategy at The Clearing House told Karen Webster that the recent commitment of 23 CEOs from FI heavyweights to bring new bill capabilities in real time to consumers shows a spirit of collaboration for real-time payments and request for payment — and commitment to simplifying the consumer bill pay experience.
Cryptocurrencies such as Ether are surging, and market caps are eclipsing “real” firms, such as Visa and Ford. Coinbase’s earnings report Thursday (May 13) may shed light on the more mainstream adoption of cryptos — and whether speculation may give way to wide adoption in commerce.
Read More On Payments:
- Bright Outlooks For Retail And Mobile Banking
- Today In B2B: ION Explores The Bank-Treasurer Relationship; OCBC Adopts Visa Commercial Pay
- Amazon One Expands Palm Payments Amid Demand For Contactless In-Store Experiences
- State Farm Enlists Fiserv For Faster Claims Payouts
May 12, 2021 at 08:45PM