Visa will pay some merchants to go cashless
Visa Inc. is doing its best to usher in the cashless future.
The credit card giant has announced a new initiative, called the Visa Cashless Challenge, which will incentivize small merchants to move away from cash payments. Using an application-based format, Visa will award approximately $10,000 each to 50 eligible U.S.-based small business food service owners, including food truck owners.
"With 70% of the world, or more than 5 billion people, connected via mobile device by 20201, we have an incredible opportunity to educate merchants and consumers alike on the effectiveness of going cashless will incentivize small merchants to move away from cash and toward card- and mobile-based payments,” said Jack Forestell, head of global merchant solutions, Visa Inc. “
According to a report by Business Insider, Visa will give the merchants the money to upgrade their payment technology. In turn, the winning merchants must pledge to limit or remove cash payments.
According to a study by Visa, in New York City alone, businesses could generate an additional $6.8 billion in revenue and save more than 186 million hours in labor, by making greater use of digital payments.
Jet.com makes a move to streamline urban deliveries
Walmart’s e-commerce arm is making it easier for New Yorkers — especially those without a doorman — to get their deliveries.
Jet.com is teaming up with Latch, a provider of smart building access technologies, to integrate a reader-style electronic access product in 1,000 buildings in New York City. The installation, which is being paid for by the partners, will give more than 100,000 residents the ability to retrieve orders electronically, according to TechCrunch.
Using their smartphone as a key, participating residents can grant access to delivery companies, dropping off packages even if they aren’t home. The solution, called the R Access system, also provides a visual audit trail of guests, as well as management tools that enable users to add users and share access, according to Latch’s website, the report said.
All 1,000 buildings will be set up to provide access to Jet’s delivery partners. The program could be a catalyst for Jet to streamline deliveries in metro and urban areas, according to the report.
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Amazon scores important win in huge foreign market
Amazon has won the right to sell groceries in India.
The online giant currently sells groceries in India through a local partner. But it recently secured government approval to stock and sell its own food items, reported the Nikkei Asian Review.
Amazon was given the green light to invest as much as $515 million in food retailing in India, according to the report, which will be spread over a five-year period. Last year, the Indian government relaxed rules to allow foreign firms to sell groceries and food items directly to the public.
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