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.
Square has released a set of reports that detail how sellers plan to move forward and meet customer expectations during 2021. Among the findings were that 88% of retailers are selling online, and restaurants expect 62% of their revenue this year to come from takeout or delivery. The reports are based on a survey of restaurateurs, retailers and consumers across the U.S., which asked what consumers are looking for as well as what businesses are investing in and what strategies they plan to incorporate into their businesses. From Square.
Square also reported that, during the fourth quarter of 2020, gross payments volume (GPV) from its omnichannel and online sellers was more than half of the total seller GPV. This number has increased from one-third two years ago and is up nearly three times the amount from four years ago. The company’s total net revenue for the quarter was $3.16 billion, up 141% year over year. From Square.
Big Getting Bigger
Amazon acquired Selz, an Australian company that helps small businesses build an online presence, in January. Amazon did not publicize its acquisition, but the Shopify competitor announced it recently in a blog post. Amazon’s third-party marketplace accounts for more than half of the company’s ecommerce sales. From CNBC.
India’s antitrust regulator has begun looking into whether Google Pay has abused its market dominance in the country. As part of the investigation, the competition watchdog will interview competing payments providers, including PhonePe and Paytm. From Livemint.
Fintech company Promise has raised a $20 million funding round with a goal of making utility and government payments easier for people who might be struggling to pay bills. The company wants to help make it easier for government agencies and utilities to offer more flexible terms, such as installment payments, by integrating with the biller and handling reminders, receipts and processing. From TechCrunch.
Investors on the secondary market are valuing Stripe at $115 billion. The company is also said to be planning a new funding round, although a spokesperson declined to comment on the report. Stripe was valued at $36 billion during its fundraise in April of last year. From Forbes.
PCI Security Standards Council: PCI Security Standards Council Publishes Version 1.1 of Secure Software Lifecycle (SLC) Standard and Program