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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.

Digital Download

70% of Malaysians favor cashless. According to a study conducted by Visa, these consumers prefer merchants that accept digital forms of payment, up 21% from the previous year. The study also reports that the top reason for digital preference is “convenience,” followed by “hassle-free” and “wide acceptance.” From New Straits Times.

Regulation Woes 

Reserve Bank of India (RBI) discussion paper further specifies requirements for direct regulation of payment gateways and aggregators. Should the RBI decide to regulate these entities directly, they will require them to become incorporated in India, the paper said. A minimum net worth is also a prerequisite and those that incorporate will then only be able to conduct business with other incorporated entities. From Business Line

PayPal fined $311,000 by UK regulator. All revolving around the brand’s $2.2 billion acquisition of PF iZettle, the Competition and Markets Authority (CMA) began investigating the deal in September of 2018 and issued initial action that required PayPal to keep a line of separation from iZettle during the course of the investigation. Permission was granted to integrate outside the UK as long as UK customers aren’t impacted, but the CMA just fined PayPal for cross-promotion of iZettle to customers in the UK. From Business Insider

Big Brands Doing Big Things 

Grab supports micro-entrepreneurs, contributes US $5.8 billion to Southeast Asia’s economy. Doing its part to promote and grow financial inclusion throughout the Southeast Asian economy, app provider and fintech company Grab reported approximately 9 million local micro-entrepreneurs on its platform as of August 31. Up from 2.6 million in March of 2018, the most recent numbers reveal that one in 70 Southeast Asians have earned income through the Grab platform. From The Straits Times

Industry News

Credorax: Credorax and BBPOS Partner to Launch Mobile Point-of-Sale Product

Fundbox: Fundbox Raises $326 Million to Expand the Industry’s First B2B Payments and Credit Network

Mercator Advisory Group: Merchant Services for Small Businesses Evolve Beyond Mobile Point-of-sale Payment Acceptance

TouchBistro: TouchBistro Raises $158 Million in Series E Funding Led by OMERS Growth Equity with Participation from Barclays Bank and Others

CCAvenue: CCAvenue Collaborates with Riyad Bank to Make Inroads into Saudi Arabia’s Digital Payment Space

Innoviti: Innoviti’s Accelerating Growth Hits 3,000cr Monthly Processing Volume

PCI DSS: Global Cybersecurity Leaders Collaborate on Security Standards and Solutions for the Future of Payment Security