In today’s top news, Alibaba’s Singles’ Day in China has brought in $56 billion thus far, and Lyft is launching a delivery service. Plus, the Department of Justice approved Uber’s acquisition of Postmates.
Singles’ Day in China is exceeding expectations, with Alibaba posting $56 billion in sales by Wednesday morning (Nov. 11). This year, Singles’ Day is four days long and sellers are reporting they have gotten “16 times as many orders by value as Amazon.com Inc’s two-day global Prime Day last month.”
Following a successful pilot program, Lyft is launching a delivery service to stay afloat as a second wave of the COVID-19 pandemic continues to stifle the rideshare industry.
A new U.S. federal COVID-19 stimulus is possible, and maybe even likely, but how much – and who will get it – is less clear.
The U.S. Justice Department has approved rideshare king Uber’s acquisition of food delivery company Postmates, clearing the deal of possible antitrust implications. The deal demonstrates the ongoing consolidation in the industry as companies scramble to see who will become both the biggest and the fastest in the food delivery world.
A lack of access to real-time payment capabilities has become a deal-breaker for nearly one-quarter of consumers. In the Accelerating The Real-Time Payments Demand Curve Report, PYMNTS surveyed more than 2,000 U.S. consumers to learn why a sizable share would be willing to pay fees — or even switch financial institutions (FIs) — to access real-time payments.
International fashion shows have by and large disappeared over the past eight months, leaving fashion retailers scrambling to move in-person business digital. But success hinges on digitizing payments between fashion labels and wholesalers, CEO Kristin Savilia of fashion wholesale-management platform Joor tells PYMNTS in the inaugural edition of the Global B2B Payments Playbook.
Apple is debuting its 5G iPhone. The telecom carriers are boosting 5G deployments. But there’s a wide gulf between expectations and reality. Here’s why.