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.
Big Brands Doing Big Things
Indian PF Paytm valuation spikes 25%. So, what does this bring their overall valuation to? $15 billion, according to sources, with several employees cashing out their shares for upwards of $150 million. Valued at $12 billion just a year ago by Berkshire Hathaway, the company’s momentum is going strong with a customer base of 14 million and an average monthly transaction volume of 800-900 million. From LiveMint.
Shopify and Amazon complicate their relationship status. Are they friends or foes? In the world of online commerce, it’s hard to say sometimes. Leading PF Shopify announced investment plans for a $1 billion fulfillment network earlier this year, seemingly setting it up as a direct competitor to online giant, Amazon. But there’s at least one major difference. Unlike Amazon, Shopify will not be selling products that compete with the merchants on their platform – a big win and potential preference for future Shopify sellers. From Financial Post.
People’s Bank of China Favors Fintechs.In an effort to maximize a competitive advantage in their fintech sector, China’s central bank has announced a three-year plan to mitigate risk and maximize financial development. Enhancements include an “early-warning regime” on financial risks impacting cross-market and cross-industry financial activity. From The Paypers.
Cash is still king? In high-tech Japan, apparently so. With four out of five purchases in Japan’s economy still settled in cash, the industry is lagging behind the global cashless momentum. Why? Speculation falls on their ageing community that still prefers physical cash as a means of commerce. The industry is doing what it can to create a shift towards cashless while the government is hoping to gain some momentum from the 2020 Tokyo Olympics. A reward-based point system is also being discussed to motivate cashless transactions. From The Jakarta Post.
India’s zero MDR impact continues to make waves. The payments industry’s top executives have again spoken out against the finance minister’s recent announcement about removing MDR fees on qualifying digital transactions. And while they have highlighted several potentially negative impacts, including loss of tax revenue and job losses, no rollback response has yet been offered from the government. From The Economic Times.