Today in the payments news roundup, Affirm has launched a new app that will let customers use the service to pay almost anywhere online or in the real world. Also, the European Commission has asked Facebook as well as the Libra Association to respond to multiple questions on risks that could be posed by the Libra project. And Silicon Valley tech startup Neighborly is reportedly having money woes and can’t make payroll.
The European Commission has asked Facebook as well as the Libra Association to respond to multiple questions on financial stability, data privacy and money laundering risks posed by the Libra cryptocurrency project. European countries such as France have vowed to block the development of Libra, saying it poses a risk to the sovereignty of countries’ currencies.
The U.S. Supreme Court decided on Monday (Oct. 7) it would not hear a case brought against Domino’s by Guillermo Robles, who filed the suit three years ago. The suit accused the quick-service restaurant (QSR) chain of violating the Americans with Disabilities Act (ADA) because its website didn’t have the software that would enable a blind consumer to order.
The Supreme Court’s order, according to reports, essentially opens the door to other such lawsuits. It could also serve to increase the pressure on eCommerce operators to make online as well as mobile stores accessible to consumers with disabilities.
The Facebook investigation announced by attorneys general in September now has 40 states signed on to look into allegations of the social media company’s purported anti-competitive practices. Multiple state attorneys general have reportedly met with U.S. Attorney General William Barr, Antitrust Division head Makan Delrahim, Deputy Attorney General Jeffrey Rosen and to discuss the investigation.
Neighborly, a Silicon Valley tech startup, is having money woes and can’t make payroll. Anticipated funding did not come through and the firm’s CEO Jase Wilson told employees to stop working, according to a memo obtained by Bloomberg. The company launched in 2012. Ashton Kutcher at Sound Ventures, Stanford University and Maven Ventures all participated in early funding.
Many companies stick to traditional payment methods such as paper checks, even while faster and more modern alternatives are available to them. The reason for the holdouts may just be because businesses are not aware that more efficient accounts payable (AP) automation solutions are available, UMB Bank Executive Vice President and Director of Product Management Uma Wilson said.
In a feature story, Wilson explained how UMB Bank works to educate business clients on improving their AP practices through automation.
Affirm has rolled out a new app, which will let customers use the service to pay almost anywhere online or (with an assist from Google Pay and Apple Pay) in the real world. In a recent conversation with Karen Webster, Affirm CEO and Co-Founder Max Levchin said, “The idea here is pretty simple: Let’s make it simple for any customer or any merchant to get the benefits of Affirm whether or not a full integration with Affirm has happened or not.”