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Virtual Kitchen Nets $20M To Assist Restaurants With Delivery

PYMNTS

Virtual Kitchen , a startup founded by ex- Uber employees, has raised $20 million in fresh capital in a bid to capitalize on the need for food delivery amid the pandemic, according to CNBC. billion by 2026, CNBC reported. Virtual Kitchen works to provide technology for others to set up commercial kitchens for food delivery.

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Recap of Money 20/20 USA 2023 and 10 Banking Thoughts

South State Correspondent

Our Top 10 Insights From Money 20/20 From these sessions and announcements, we pulled out ten of our most important takeaways, each having an impact on bank operations in the coming year. In order of our perceived importance, here is our breakdown: 10. This wasn’t the right time to have this discussion, and it was not the right place.

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Why Communication Is Key To Faster Construction Payments

PYMNTS

Recent analysis from Contract Simply noted 88 percent of contractors wait at least 30 days to receive payment, with 46 percent having waited between 60 and 90 days, leading businesses to rely on external financing to manage working capital while they wait.

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Is India’s ATM Disappearing Act A Digital Payments Boon?

PYMNTS

Chalk it up to “unviability of operations” in the wake of new regulatory guidelines, mandating upgrades that focus on the actual management of the physical cash at those machines. That comes as eCommerce is slated to be worth as much as $200 billion by 2026 , according to Morgan Stanley estimates, growing at 30 percent, compounded annually.

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Amazon (And Others) Brace For India’s New eCommerce Tax

PYMNTS

firms operating on an international scale — is about to get more heated. Last week in India, the government proposed a tax on eCommerce transactions that will likely increase operating costs for sellers large and small. The jousting over eCommerce taxes — especially for U.S.

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Amazon Vs. Alibaba: How The E-Commerce Giants Stack Up In The Fight To Go Global

CB Insights

The e-commerce giants are capitalizing on three important trends: Global financial systems are going digital and mobile. Research from Morgan Stanley projects the online retail market will explode from $15B in 2016 to $200B in 2026. Capturing market share and becoming profitable will take mass amounts of scale and capital in India.