In today’s top news, some of Europe’s biggest banks could cut business trips by 50 percent, and Amazon is testing a new merchant-enabled, email-driven customer engagement tool. Plus, Toast is teaming up with the SBA to streamline the grant application process for the Restaurant Revitalization Fund (RRF).
While some senior officials expect to make some business trips this year, several of Europe’s biggest banks are considering cutting business trips post-pandemic by as much as 50 percent. Remote work in 2020 showed that much of business travel was unnecessary — and cutting it has saved banks time and money.
Amazon is piloting a new merchant-enabled engagement tool, “Manage Your Customer Engagement,” which allows brands to directly interact with shoppers via email campaigns. This is a first for the eCommerce giant, which typically has kept a lid on user data.
The $28.6 billion Restaurant Revitalization Fund (RRF) will soon begin the grant application process, and point-of-sale (POS) FinTech Toast is partnering with the U.S. Small Business Administration (SBA) to help streamline the application process for restaurant industry grants.
About three weeks after it was reported that delivery service DoorDash was suing its business partner, software provider Olo, for allegedly overcharging it, the two companies have resolved to settle and dismiss their dispute. In a joint news release, the two companies announced that they have set the terms of a new multi-year deal.
A less obvious, but no less pernicious, cause of subscription cancellations is passive or inactive churn due to failed payments. In the Subscription Commerce Tracker, Dan Probst, president of dog toys and treats subscription box KONG Box, explains how payments tech is teaching old subscription churn problems new tricks.
Like EMV and EMVCo, cybersecurity is too important to the stability of the payments ecosystem to be thought of as a source of competitive advantage. Johan Gerber, executive vice president of security and cyber innovation at Mastercard, told Karen Webster in a recent discussion that’s why the industry needs a cybersecurity version of the Paris Accord.
China may be at the forefront of central bank digital currency (CBDC) development, but a slew of other countries are making strides in bringing digital fiat from concept to reality. That’s especially true in the U.K., where a formal task force is exploring a digital version of the pound. PYMNTS unpacks CBDC’s latest.
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