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.
The COVID pandemic was “not as impactful” as anticipated on RealPage financial results. The company reported GAAP total revenue of $285.6 million, up 17% over the year before. “Numbers were exceptionally strong relative to our guidance because the impact of COVID-19 was not as impactful as we feared and there is surging demand for solutions that facilitate virtual leasing and living offered by RealPage,” Steve Winn, chairman and CEO of RealPage, said. From RealPage.
Square’s revenue grew during the second quarter almost 64% to $1.92 billion. While the company’s overall gross payments volume (GPV) among its sellers declined 15% year over year, Square reported that the GPV from online channels was up more than 50%. “We believe that our purpose of economic empowerment, which is rooted in equality, continues to be more important than ever. Access to financial services has historically been reserved for those with privilege. With both our Cash App and Seller ecosystems, we strive to help broaden access to the tools and services consumers and business owners need to thrive,” the company said in its shareholder letter. From Square.
China’s central bank says Alipay and WeChat Pay are too dominant. The bank has recommended an antitrust investigation of the two non-bank payment giants to determine whether they are unfairly discouraging competition. The country’s antitrust agency has not yet decided whether to investigate, sources say. From Reuters.
Monetizing Venmo is a key path to future growth for payments giant PayPal. The brand is already popular with younger consumers, but new capabilities and possible expansion into business payments might help turn that popularity into revenue. The company is currently offering invite-only business accounts for free but will eventually charge for those transactions. From MarketWatch.
WhatsApp Pay is finally compliant with India’s data localization requirements. The Facebook-owned messaging app has been waiting for a green light from the Reserve Bank of India to fully launch a payments service there. The National Payments Corporation of India filed a letter with the RBI in June indicating the company now complies. From Times of India.
Indian PF MobiKwik has launched a new way to send and receive funds using any UPI payment app. With the company’s new offering, users set up and share a personal link they can use to collect payments. The capability will work both on desktop and on mobile. From Economic Times.