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 Phreesia announced an increase of 14% in revenue during the second quarter of this year. The company’s patient payment volume was up to $466 million during the quarter, an increase from $464 million the previous year. According to the earnings release, Phreesia’s PF model accounts for 82% of its payment volume during the second quarter, with its role as a gateway to another processor accounting for the rest. “I am proud of Phreesia’s ability to serve our clients, take care of our team and further our mission of creating a better, more engaging healthcare experience as our communities grapple with the current pandemic,” said Phreesia CEO Chaim Indig. From Phreesia.
French payments company and PF Worldline may have some concessions to make to win approval of its bid to acquire Ingenico. The European Union’s antitrust regulator could launch a full investigation of the deal if its concerns aren’t addressed. From Reuters.
Indian PF Razorpay has launched a cash advance product to help improve cash flow for its small merchant clients. The line of credit is available to businesses depending on their payment history on the company’s platform. Once Razorpay approves a business for cash advances, it can withdraw and repay funds as needed. From Economic Times.
Valuations on the Rise
Swedish payments company and PF Klarna is talking with potential investors for a new round of funding that would value it at more than $10 billion. The valuation is nearly double the company’s value just over a year ago. The company’s biggest installment payment-focused rival, AfterPay, is currently valued at about $15 billion. From Reuters UK.
The value of Egyptian PF Fawry has quadrupled during the pandemic. The company debuted on the stock exchange about a year ago, and it is currently valued at more than $1 billion, placing it among the top 10 companies in Egypt. Its value has been boosted by the Egyptian government’s push to reduce the use of cash in that country. From Bloomberg.