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.
Stockholm-based fintech company Trustly is planning an initial public offering during the second quarter of this year. The increase in digital payments resulting from the pandemic has spurred the company to consider the move now. The IPO could value the company at as much as $11 billion. From Reuters.
Consumers’ preferred payment methods differ widely across the world, but preferences don’t always line up with actual usage. This is according to the World Economic Forum, which compared payment preferences in different countries. In Japan, Spain and France, for example, the preference for cashless payments was higher than their actual usage, pointing to the possibility that consumers there are simply unable to pay with digital methods for certain goods and services. From World Economic Forum.
In a new booklet it recently published, the Reserve Bank of India described that country’s shift to digital payments as a “work in progress.” Since fiscal year 2010-2011, digital payment volume has grown at a compounded annual growth rate of 12.54%, with total payment value growing at 43%, the bank said. Despite this growth, there are geographical areas and demographic groups that require more targeted effort. From Business Standard.
Indian PF Pine Labs is launching a smartphone POS app that enables merchants to accept contactless card payments. The app, called All Tap PoS, will enable even micromerchants to accept digital payments without the upfront investment in point-of-sale terminals. The company hopes to have a million merchants on the new app within the next year. From MoneyControl.
Payment facilitator PayU is partnering with deferred payment provider Twisto to expand options available on its PayU Pay Later platform. The relationship will enable online retailers using PayU’s system in Poland to offer Twisto’s payment solution. Their customers will be able to defer payments up to 21 days without creating a Twisto account. From Finextra.
DNA Payments: DNA Payments Acquires Active Merchant Services
Juniper Research: Digital Wallet Spend to Exceed $10 Trillion Globally in 2025
PCI Security Standards Council: PCI Security Standards Council Announces 2021-2022 Advisory Board