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.
PF Quarterly Earnings
Phreesia announces strong ending to fiscal year ending January 31. The company reported fiscal 4Q revenue of $32.8 million, up 24% from the same time last year. And it ended fiscal 2020 reporting $124.8 million in revenue, an increase of 25% from the previous year. It also reported growth in its average revenue per provider client for fiscal 2020, up 21% from the previous year. From Phreesia.
PayPal CEO: “We’re not going to go backwards to what was.” In this interview with Fortune, PayPal CEO Dan Schulman talks about how the coronavirus has changed the way we live, and how that has impacted all things online. Not only have people increased their overall usage of digital payments, they are using them in ways they never have before. From Fortune(subscription required).
Square co-founder explains how to build a business that is “almost untouchable.” In his position as a co-founder of Square and now deputy chair of the St. Louis Fed, Jim McKelvey has had a front-row seat to how the pandemic crisis is hitting small businesses. In this interview, he explains what an “innovation stack” is and why companies that create them are better able to weather a crisis like the coronavirus. From Chief Executive.
Music platform Spotify has launched a new feature that allows artists to fundraise for themselves, their crews or other causes. The company is partnering with Square’s Cash App, which is donating $100 to artists that submit a “$cashtag” username as their fundraising destination and secure at least one donation, through a $1 million artist relief initiative. PayPal and GoFundMe are other donation acceptance partners for Spotify in some markets. From TechCrunch.
India’s digital payments providers – including some big-name payment facilitators – are adapting their solutions to better suit the new COVID-19 reality. Paytm has updated its interface to focus on providing users with access to payments for essential items such as bill payments and insurance premiums. Razorpay is working on eliminating physical touchpoints, including using video calls for account opening. And PayU is expanding to help provide tech services as well as payments. From livemint.
Acquisitions & Partnerships
Indian payment facilitator Infibeam Avenue has agreed to acquire a U.S.-based company called AI Fintech, with plans to expand digital payments in the U.S. From India Infoline.
Facebook is working with three companies in Indonesia to launch mobile payments there. The social media giant is planning to apply for regulatory approval for a plan that would allow users to make payments within its platforms without leaving the apps. The partners include ride-hailing companies and wallet providers Gojek and Grab. From Reuters.