PaymentFacilitator’sNews 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.
Cash slated for steady decline in Thailand. With advances in digital payments technology like QR codes and EMV, the local population is opting to scan or use chip for their daily purchases, and this has cash on the decline. A recent report from GlobalData predicts a steady increase in total card payment value (from $56.1 billion to $83.8 billion) throughout the time period of 2018-2022. From Retail News Asia.
Up The Ante
Grab ups the ante with Indonesian Gojek rivalry. In an effort to gain a competitive edge in the Indonesian marketplace, the Singapore-based startup is contemplating a merger between two major digital payment players in the local ecosystem. Grab-backed ONO and Ant Financial’s DANA are up for the possible collaboration and this would give Grab a lead on Gojek, who has been competing against ONO since 2018. From Finews Asia.
Big Brands Getting Bigger
Grab counts on food delivery arm to serve up profit. The ride-hailing company and payment app is currently counting on its growing food-delivery business to drive growth and profitability. Already a notable brand, the company’s delivery service arm (GrabFood) launched in 2016, but the 2018 acquisition of Uber’s regional operations (including UberEats) contributed to impressive growth status. From CNBC.