eBay declares Adyen, a Dutch global payments solution company, as its main partner for processing payments, adjusting its current agreement with PayPal
PayPal will remain a payment option at checkout until July 2023
eBay will now manage its own payments flow, streamlining the end-to-end experience for both buyers and sellers
- Square has acquired Entrees On-Trays, an on-demand food delivery company, to supplement Caviar, Square’s food delivery service.
- Entrees On-Trays has served the Dallas-Fort Worth area for more than 30 years and partners with local restaurants to provide food delivery service
- Square’s Caviar is one of several business services it offers to its restaurant clients, and with this acquisition, Square hopes to expand its reach and grow its sales in the restaurant / dining industry
- Starbucks and Chase announced the Starbucks Rewards Visa Card where for every purchase (in or out of Starbucks) you earn a Star. These loyalty rewards will be exchangeable for food and drink at any Starbucks in the country
- This will further build Starbucks’ loyalty program, which has more than 14 million daily members utilizing this program
- Cardholders will automatically become ‘Gold Status’, which allows the customer to earn more rewards, in the Starbucks loyalty program
- Apple will begin to accept Alipay in its 41 mainland China stores. This will be first time the U.S.-based tech company will allow a third-party payment solution in any of its stores.
- Apple is seeking to further build its presence in the Chinese market by working more closely with the Chinese government and local partners
- Alipay has dominated the Chinese mobile payments market, but is facing increasing competition from WeChat
Oliver Wyman is a global leader in management consulting with offices in 50+ cities across nearly 30 countries. Our Payments practice works with constituents across the payments value chain to deliver insights with real impact, combining deep industry expertise with powerful consulting capabilities. To have a discussion with Oliver Wyman on your payments issues and opportunities, please contact Beth Costa at email@example.com.