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.
UK fintech investment dollars slated to surpass 2018 total. As the UK ecosystem continues to be abuzz with fintech forward momentum, it’s no surprise that 2019 fintech investment volume is slated to surpass the 2018 total. Already at record level for the first half of the year, investment totals have reached $2.9 billion across 123 deals. From Innovate Finance.
PayMongo reaches for Stripe status. The 4-month-old Filipino fintech startup has already accomplished an impressive feat in being the first local startup to hold real estate on the Y Combinator list. But they’re not stopping there. Their ultimate goal is titan status as the “Stripe for the Philippines.” From E27.
Big Brands Branching Out
Paytm targets students with new product launch. The payments giant is targeting parents and students with their recent launch into the education sector. Specifically, the brand is looking to leverage Paytm digital wallet and Paytm Mall (its two key business arms for digital commerce) to enable users to access and manage student loans, scholarships and fees. From Quartz India.
Cashless Momentum Continues
Cash continues its demise in Britain. If you’re looking for further proof that cash is no longer king, Britain may be a good place to start. According to recent reports, the volume of cash withdrawals from ATMs “massively fell” compared year-over-year to 2018 numbers. And the momentum looks like it’s going to continue. From Yahoo Finance.
Pine Labs responds to Innoviti’s infringement suit. Responding to a lawsuit alleging patent infringement as it relates to technology enabling UPI payments at retail POS locations, the defending brand has responded with a motion for appearance to refute the allegations. From YourStory.