What's New in Payments

Facebook scales back its digital currency plans

Facebook-backed Libra cryptocurrency project is scaled back — The New York Times — “The Libra project will now focus on creating a more traditional payment network in which coins will be tied to a local currency, somewhat like the digital dollars in a PayPal account. While Libra will also have a coin backed by multiple national currencies, which was the focus of the initial design documents, that will be less prominent.”





What's New in Payments

Discover lets cardholders pay with points at PayPal merchants

Discover and PayPal collaboration gives cardmembers new way to redeem rewards — Discover Financial Services — “Discover cardmembers can now use their Cashback Bonus or Miles to pay for purchases at millions of online stores through PayPal… Once cardmembers link their Discover card with PayPal, they can instantly redeem any amount of their rewards on eligible purchases at checkout.”







What's New in Payments

PepsiCo unveils customer loyalty programme that delivers cashback rewards to PayPal and Venmo accounts

Bag of Lay's crisps and a smartphone with code printed over top

PepsiCo has launched a loyalty programme that lets customers use their mobile phone to scan a code printed on drink bottles and snack bags to earn 10% cashback each time they buy both a drink and a snack — and receive their rewards as an automatic credit to their PayPal or Venmo account each time their balance reaches US$2... More


What's New in Payments

Apple Pay doubles transaction volumes in twelve months

Apple financial results — Q3 2019 — Apple — “Apple Pay is now completing nearly 1bn transactions per month, more than twice the volume of a year ago… Based on June quarter performance, Apple Pay is now adding more new users than PayPal and monthly transaction volume is growing 4x as fast… We plan to begin the rollout of Apple Card in August.”