1.23.19 Your morning briefing

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The information you need to start your day, from PaymentsSource and around the Web:

Investor pressure
Elliot Associates, a New York investment firm that owns about 4 percent of eBay, isn’t happy with eBay’s stock performance and is pressuring eBay to sell off StubHub to focus on its online marketplace.

The investment company contends eBay’s e-commerce business is underperforming competitors and is relatively flat since its PayPal spinoff in 2014. It says eBay’s current trading level of about $33 per share could jump to $55 per share by stressing e-commerce over ticket sales and eBay’s classified marketplace.

Another activist investor, Carl Icahn, prompted eBay’s spinoff of PayPal, also over concerns that the two companies were stifled under the same ownership. As eBay sheds its former PayPal relationships, it is making financial progress, but not enough for Elliot Associates.

Bloomberg News

Pilot light
Starbucks’ Uber Eats delivery service has ended its pilot in Miami, and the coffee chain has added San Francisco as a market, with Boston, Chicago, Los Angeles, New York and Washington, D.C., expected to rollout over the next few weeks.

Starbucks plans to deploy the service at 2,000 stores, or about a quarter of its U.S. footprint, with a pilot with Uber Eats planned to launch shortly in the U.K.

The coffee chain has several retail projects underway, including delivery initiatives in China, Japan, India, Hong Kong, Indonesia, Vietnam, Mexico and other markets — estimating the global online food delivery market is as high as $95 billion.

PayPal invests in ad tech
PayPal is part of a $40 million fund in Dosh, a fintech app designed to measure the relationship between marketing budgets and consumer intent. Other investors include Goodwater Capital, Western Technology Investment, BAM Capital and Anthem Venture Partners.

Dosh’s platform produces data on consumer payments in retail, dining, fuel, home entertainment and other verticals and offers cash back to consumers based on their spending preferences at specific brands, such as Dunkin and Pizza Hut.

Dosh also automates performance-driven campaigns and social engagement to drive branding and customer acquisition.

DLT without limits
ING has made a deal to use R3’s Corda distributed ledger for five years with an unlimited number of licenses.

The bank plans to use blockchain in business lines across the enterprise, building “CorDapps,” or distributed apps, to power treasury management, ID vetting, insurance and other financial services.

The ING deal shortly follows another deal R3 made with rival Ripple Labs to cooperate on payments settling, a move that should improve interoperability among distributed ledger adopters.

From the Web

PayPal, Mastercard execs see a ‘huge opportunity’ for tech giants to partner with major banks
CNBC | Tue January 22, 2019 – Technology firms entering the financial services space shouldn’t be afraid of partnering with the biggest players in the industry, according to two executives. Executives from PayPal and MasterCard said that they see partnerships with banks as a way to create new user experiences and solidify customers’ trust.

Wynd raises $82 million for its store management service
TechCrunch | Tue January 22, 2019 – French startup Wynd raised another $82 million (€72 million) from Natixis, Sofina and BNF Capital. The company started with a point-of-sale solution for restaurants and other brick-and-mortar stores.

At Alibaba’s futuristic hotel, robots deliver towels and mix cocktails
Reuters | Wed January 23, 2019 – Formally opened to the public last month, the 290-room FlyZoo is an incubator for technology Alibaba wants to sell to the hotel industry in the future and an opportunity to showcase its prowess in artificial intelligence.

More from PaymentsSource

Target’s surrender to Apple Pay shows the struggle of retailer-only wallets
The news may seem overdue, but this isn’t a story of two Goliaths battling it out. It’s a tale of one Goliath beating multiple Davids — slowly, methodically, and one at a time.

How GDPR enforcement promotes development of digital ID
Regulators are handing out fines for GDPR violations, that while relatively small can have a large impact on the push for sharable identity by drawing attention to how large companies use data.

German fintech heidelpay acquires installment lender Universum Group
Payment service provider heidelpay Group has purchased the installment lender Universum Group to bring a new payment capability to the heidelpay Group in the form of an installment lending product called FlexiPay.

D.C. needs to keep up with the payments tech wave
The question for lawmakers is how to work together to make sure as many people as possible are able to take advantage of the opportunities provided by innovation, writes Brian Tate, president and CEO of the Innovative Payments Association.

John Adams

John Adams

John Adams is executive editor of PaymentsSource.

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