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.
Big Brands Doing Big Things
PayPay hits 10 million marker. Paytm-backed PayPay Corporation has officially reached the 10 million marker for registered users as of this month. And in a country like Japan where cash still dominates the ecosystem, this is recognized as quite a success for the company. Establishing service in October of 2018, the smartphone payment service hit the 10 million user threshold in just 10 months. From ET Rise.
InstaMed drives momentum towards digital industry standard. This profile of the healthcare payment facilitator acquired last year by JPMorgan highlights how it is striving to create a seamless digital experience when it comes to online medical billing. A time-consuming and often frustrating experience, medical billing can be difficult for everyone involved. As a result, more than 60% of healthcare companies plan to add online payment options within the coming year. From Philadelphia.
Shopify Plus VP: Q&A on DTC and all things payments. VP and General Manager of Shopify of Shopify Payments Loren Padelford talks about the direct-to-customer (DTC) trend and why it’s not going away, including how successful brands have thrived through DTC and what their strategies for success are. And for those interested in recommended best practices for new market expansion efforts, he touches on that as well. From Retail TouchPoints.
Indonesian darling set to acquire Moka. Sources have indicated that Indonesia’s most valuable technology company, Gojek, is slated to acquire point-of-sale provider Moka. Though the company has already partnered with Gojek’s wallet Go-Pay, it currently operates as an independent platform accepting digital payments from many other companies that could be seen as potential Gojek rivals. Both companies refuse to comment on “rumors or speculation.” From KrASIA.
RBI initiates possible gamechanger for India’s payments ecosystem. On behalf of data protection, the Reserve Bank of India has announced plans to create a Central Payment Fraud Registry. The goal? To enable real-time monitoring of digital payments-related fraud and subsequently provide customers with aggregated risk data. From The Economic Times.
PSD2 SCA gets delayed more than a year by UK’s Financial Conduct Authority. The deadline to implement the Revised Payment Service Directive (PSD2) requirement for strong customer authentication (SCA) has been delayed by 18 months. Originally slated to go into effect on September 14, the new SCA regulations will require added layers of security protocol for online data protection. However, the UK’s FCA worked with industry stakeholders to develop a different timetable, as a large part of the industry was non-compliant. From Financial Conduct Authority.