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.
The Digital Download
Visa takes its digital push to Africa. According to the global brand, moving cash transactions to digital is the largest opportunity in sub-Saharan Africa. In an ecosystem where 90% of all transactions are still cash-based, the company said, challenges revolve around consumer awareness and education on digital commerce, as well as offering solutions that meet their needs and enable a smooth transition to cashless. From IT Web.
Kenya-based M-Pesa offers blueprint for digital adoption in India. Initially launched as a digital micro-lending product in Kenya to enable money transfers in rural areas without formal financial institutions, M-Pesa has become a catalyst for growth. Based on the need for this product to work, the entire ecosystem had to evolve – and this evolution has provided the framework for other rural areas with similar challenges to do the same. From inc42.
Big Brands Getting Bigger
Amazon invests $64 million in Amazon Pay India. The online retailer has made the investment in an effort to help its digital payments arm tap India’s booming economy and dynamic ecosystem. The investment will also help it compete with local peers PhonePe (backed by Walmart), Paytm (backed by Alibaba) and Google Pay (backed by, well, Google). From Business Standard.
The Power of Partnership
Google and PayPal take it to the next level. Already in a relationship for some time now, the two global brands have added another layer of convenience for their shared customers. With the latest enhancement, online shoppers checking out with Google Pay will have the option of using PayPal to pay for their purchases. This will ultimately speed up the checkout process with the intent of increasing conversion rates. From Techcrunch.