PaymentFacilitator’s News Roundup is a curated mix of the past week’s news and articles from around the web, including company announcements, global payments news, and other coverage and analysis of topics relevant to payment facilitators.
Mastercard and Uber have partnered to boost financial inclusion within the Middle East and Africa. The companies announced that Uber would use infrastructure from Mastercard to enable digital payments across its operations, including Uber Rides, Uber Eats, Uber Pass and Uber for Business. From Ventureburn.
Payment facilitator BillDesk is providing needed infrastructure to help banks meet security requirements from the Reserve Bank of India for recurring payments. The company has built a platform for processing payments according to the requirements, which went into effect April 1. Because many banks have not prepared for the change with upgrades to their own systems, BillDesk is expected to process a significant share of the transactions. From Economic Times.
Transactions using India’s Unified Payments Interface (UPI) rose 19% month-over-month in March. The payment method’s recent growth has largely been driven by expanding QR code-based acceptance points across the country. The overall value of peer-to-merchant transactions using UPI exceeded card payment volume last month. From Financial Express.
Indian payment facilitator Paytm reports being more than 30% larger than its closest competitor, processing more than 1.2 billion transactions a month through its gateway. The company is primarily focused on merchant payments, which represent 70% of the transactions on its platform, rather than peer-to-peer payments. From Economic Times.
Sightline Payments: Led by Legendary FinTech Investor William P. Foley’s Cannae Holdings, Sightline Payments Announces Extension of Strategic Growth Investment by Searchlight Capital with $100 Million in Funding