Healthcare innovation

PYMNTS AM Radar: Digitizing Collections; ICYMI

PYMNTS AM Radar: Digitizing Collections; ICYMI

Welcome to Wednesday, May 18. Deal or no deal? Elon Musk is still insisting on more transparency before moving forward with his Twitter buy, but now the social platform is turning the tables and saying they might force the sale. Here’s what else should be on your radar this morning.

Digitizing Collections: Digital payments are integral to consumer satisfaction as well as bill payment and collection. In the PYMNTS report The Digital Payments Edge: How Consumer Finance Companies Can Succeed In The Payment Processing Revolution, done in collaboration with ACI Worldwide, 86% of collection executives said that digitizing processes will make bill collections faster.

Need for Speed: There is a duality to the payments system in that a great experience must be delivered with both ease and speed, Onbe CEO Bala Janakiraman told PYMNTS. Faster payments, however, are still a work in progress; paper checks comprised 40% of payments as of the second quarter of this year.

New Wave Health: The pivot to virtual healthcare spurred by the pandemic is one digital aspect that will carry on permanently — not just a contactless, cost-saving method, but also as a quicker, easy, safer one, says Thomas Grellner, CEO at German MedTech startup Smedo. Digital care frees up work hours for over-burdened medical staff and can also detect health issues before problems become a major diagnosis.

ICYMI: Social media site Instagram is hosting a two-day physical retail pop-up shop in Manhattan to mark the three-year anniversary of its @shop account. The shop will run on Friday (May 20) and Saturday (May 21) at Chelsea Triangle and will feature some of the most popular products featured in the @shop listings. People can browse and buy.



About: Shoppers who have store cards use them for 87% of all eligible purchases — but this doesn’t mean retailers should boot buy now, pay later (BNPL) options from checkout. The Truth About BNPL And Store Cards, a PYMNTS and PayPal collaboration, surveys 2,161 consumers to find out why providing both BNPL and store cards are key to helping merchants maximize conversion.