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.
India officially launches new MDR policy. It’s official. As of November 1, no merchant discount rate (MDR) will be assessed on digital transactions originating from establishments with an annual sales exceeding the required threshold. The Reserve Bank India (RBI) and other local banks are slated to absorb the transaction costs. From The Economic Times.
The Quick Response Edit
National QR standard now required in the Philippines. The Bangko Sentral ng Philipinas has enlisted the assistance of Philippine Payments Management Inc to develop a national QR standard for Filipinos. The goal being efficient and safe payment acceptance, this new QR code will be interoperable for acceptance locally and internationally. From Philstar Global.
Southeast Asia’s mobile payment brands compete for marketplace longevity. This report on the booming payments ecosystem says that the region currently has more than 150 e-wallet license holders. As usage of digital payments grows, competition is increasing for mobile payment brands looking to stake their claim. Some are building, others are acquiring and merging, but all are vying for a dominant position in the mobile payments space. From Reuters.
Pesos to Plastic
Mexican government drives cashless with new national program. The government has created cobro digital, or CoDi for short, in an effort to encourage locals to favor plastic over pesos. The CoDi program aspires to increase electronic purchases, increase the customer base for local fintechs, enhance tax collection efforts and reduce illicit commerce. From Bloomberg.
Power in Play
PayU courts MobiKwik for next serious relationship? Digital payments brand PayU may be looking to MobiKwik’s payments gateway for their next strategic move in what continues to be a highly competitive sector, although the companies deny that they are talking. Digital payments continue to flourish across the globe and the ecosystem grows more competitive every day. Acquisition of this business would also have Uber up for grabs as the platform currently uses MobiKwik for all card-based transactions. From ET Tech.
Paysafe may be slated for IPO. Reuters is reporting that private equity firms CVC Capital Partners Ltd and Blackstone Group Inc are getting plans together for an IPO of Paysafe Group Ltd. With an estimated value of more than $10 billion, Paysafe’s earnings are currently growing at double-digit speed and the company just launched its Mobile Pay POS in the U.S. this month. From Reuters.