Today In Payments: Enova To Aquire OnDeck In $90M Deal; PayPal Reports Record Quarter

In today’s top news, Enova will purchase OnDeck in a $90 million stock and cash deal, and PayPal reported record second-quarter earnings. Plus, the testimony of tech giants on Capitol Hill revealed chief executive officer views on competition and innovation.

Enova To Buy OnDeck In $90M Stock And Cash Deal

Enova International intends to purchase online small business lender OnDeck for approximately $90 million in stock and cash. OnDeck shareholders will receive 12 cents in cash and 0.092 shares of Enova common stock for each of their shares.

Report: India’s National Payments Corp Vulnerable To Security Breaches

National Payments Corp. of India (NPCI) discovered over three dozen security risks in 2019. The audit determined that personal information held by the main digital payments system in the country operated by the RuPay card network was vulnerable.

Strong Venmo And QR Code Payments Growth Help PayPal Score Record Q2 Earnings

PayPal beat analyst expectations on Wednesday (July 29) and experienced a record quarter. The firm attributed a large part of that success to its Venmo peer-to-peer (P2P) payments platform and quick-response (QR) code-based contactless payment technology.

Tech Giants’ Hill Testimony Reveals CEO Views On Competition — And Innovation

The chief executives of Google, Facebook, Amazon and Apple encountered questions from legislators in a Wednesday (July 29) hearing. And interpreting the opening statements of these leaders can be somewhat revealing as to how they view the playing field.

Shipt COO: Why Success Requires More Than Just Great Tech

Shipt forecast pre-pandemic that eCommerce grocery delivery would reach approximately $20 billion around 2025. The industry, however, is near seeing those numbers now, according to Chief Operating Officer Bridget Fruit. And, while the pandemic-fueled digital shift is certainly the driving factor in that expansion, Fruit believes the personal touch the company builds into its business model is also important.

Topcoder On The Payroll Must-Haves For Retaining Tech Talent

Payroll delays or hiccups are frustrating, but they have taken on new weight amid the coronavirus pandemic. People looking for work are seeking positions that can provide them with their wages consistently and easily. PYMNTS explores why Topcoder considers reliable and easy payments to be key to keeping talent.