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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.

Fintech Forward

Uber initiates New York hiring spree focused on fintech. The goal? To add some momentum to their fintech arm. The ride-hailing startup is looking to create financial products that encourage loyalty and engagement among users and drivers. On the bucket list looks to be an Uber bank account (though it may still be years away). Currently, the company relies heavily on the banking system to get paid and pay their drivers. This could cut out the middleman if implemented. From CNBC.  

Fintech investors favor payments. And even more so now as Q1 comes to a close. POS platform provider Toast Inc. finished the first quarter with a $250 million series E funding round that gave investors something to talk (or toast) about. This series E raise helped the payments sector gain notoriety as the most well-funded U.S. fintech sector (in terms of dollar amount). The other noteworthy contributor is Stripe with a $100 million round in January. From S&P Global.  

Digital Download

PayU India achieves new milestone in international payments. The digital payments company has surpassed the 100k milestone marker for its international merchant base. The company has been providing international payment services since 2016 and ultimately aims to infuse the segment of micro, small and medium enterprises (MSME) with new growth opportunities. From Ciol.

Evolving Ecosystems

UPI moves towards merchant transactions and guess who’s dominating? The famously known peer-to-peer platform seems to be slowly shifting towards merchant payments with an estimated 120 million merchant transactions that may have processed via UPI in May. And right now, Paytm claims to be driving this shift. From ET Rise

Paytm to invest $35 million in QR. The Indian brand has announced plans to invest around $35 million in QR-based expansion efforts and looks to tap more than 20 million merchants country-wide by the end of this current fiscal year. The bold investment targets tier IV and tier V cities and towns. From Financial Express

India serves as inspiration for completely cashless society. The country has created a digital ecosystem that motivates cashless momentum with every digital transaction. And now, with UPI (their proprietary peer-to-peer platform) gaining credibility with 800 million monthly transactions in just three years, the digital dynasty has an audience of millions watching. Facebook, PayPal, Google and Amazon are just some of the global brands that are taking notes and if all goes well, India’s cashless blueprint could become a global initiative. From Bloomberg.

Industry News

PayU: PayU Acquires Turkish Digital Payments Provider Iyzico in Journey to Becoming World’s Number One Fintech Investor

Square: Square Teams Up with Ogden Raptors to Bring Fans a New Ballpark Payment Experience

Stripe: Stripe Terminal is Now Generally Available in the U.S.

Mastercard: Mastercard and Payswiff Partner to Accelerate Acceptance of Digital Payments in Tier 2 and 3 Cities

Stripe: Stripe Leads Series A Funding Round for Step

Grab: Grab Creates Safer & More Secure GrabPay e-Wallet with New User Verification Feature

Square: Square for Restaurants Adds Integrations with Postmates, DoorDash, and Chowly, Joining Caviar to Eliminate “Tablet Farm”

CSBS: CSBS Paper Series Focuses on Reengineering Nonbank Supervision

Razorpay: Accepting International Payments Gets Easier with Razorpay

Concardis: Cashless Payment Methods Enable Small and Mid-Sized Companies to Generate Higher Sales and Increase Efficiency

Splitit: Splitit and EFTPay Partner to Offer Installment Payments to Hong Kong Merchants

Klarna: Vet visits, Veneers and Varifocals: Klarna Enters Three New Markets with Finance 4 Group Partnership