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.
PF Quarterly Earnings
Blackbaud saw an increase of 2% in total GAAP revenue YOY for the fourth quarter of 2020. GAAP recurring revenue was up 4.4%. “Without a doubt, 2020 tested the industry and underscored the resiliency of our over 45,000 customers as they serve such a critical role in solving the challenges we face as a society. This past year put a spotlight on the need for digital capabilities as social good organizations worked to pivot their own operations and strategic roadmaps to ensure they continue to deliver on their missions in the current environment,” said Mike Gianoni, Blackbaud president and CEO. From Blackbaud.
The past week saw another fintech investment for Stripe, this time in Pakistan. The company participated in a seed funding round for Safepay, a Karachi-based company that is developing digital payment infrastructure for Pakistani merchants. Stripe’s funding amount was not disclosed, but sources said it a “seven-figure (USD) amount.” From Crowdfund Insider.
A new payments startup called PayZen is bringing embedded finance the healthcare market. The San Francisco-based company pays hospitals upfront for patient invoices and offers payment plans to patients with no interest or fees. It has secured more than $5 million in seed funding and has developed partnerships to offer its platform to healthcare providers. From The Fintech Times.
I’m Still Watching
Upcoming Reserve Bank of India rules that will prohibit payment aggregators and merchants from storing card data has drawn reaction from online providers. Companies including Netflix, Flipkart, Amazon and Microsoft have written to the central bank asking for exemptions, expressing their concern about the impact of the rules to the customer experience on their platforms. The rule would mean that subscription services such as Netflix would need to ask for payment information for each billing cycle, they said. From CNBC-TV18.
Transaction Services Group (TSG): TSG Announces Acquisition of Adaptive Analytics