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.
Big Brands Getting Bigger
Shopify has added ~$21 billion to their market value… earning CEO Tobias Lütke a place on the Bloomberg 50, a list of individuals who have shaped 2019. The company’s shares have more than doubled this year, and the Canadian brand has invested $450 million to build out a U.S. fulfillment network that could help the company win the loyalty of smaller merchants cautious of being too reliant on Amazon. From Bloomberg.
PF Razorpay doubles thanks to digital. As digital payments continue to dominate the global ecosystem, online platforms like Razorpay reap the benefits of the digital wave. The company has not only doubled its revenue for fiscal year 2019, it has also reduced reported losses by 74.5%. In addition, two major acquisitions (AI company Thirdwatch and payroll solutions provider Opfin) have added to its growing portfolio. From Inc42.
Results are in from the 2018 Diary of Consumer Payment Choice. The annual report, which showcases the most current payment behavioral trends of U.S. consumers, revealed some interesting results. Electronic payments accounted for more than half of the value of all bill payments, while cards accounted for almost 60% of purchase value. The study summarizes by reporting that consumers tend to favor electronic payments for high-value transactions, with cash and cards favored for low-dollar commerce. From Federal Reserve Bank of Atlanta.
Bill.com cashes in with IPO. The Wall Street Journal acknowledges that two of the most popular investor trends in the marketplace right now are business software and electronic payments. And Bill.com is cashing in on both. The company, which sells payment software services to small and midsize businesses, intends to go public this week with an enterprise value totaling approximately $1 billion. From The Wall Street Journal (subscription required for full article).