Payments Industry Should Self-Regulate on “Hate and Harm”; What Biz Leaders Can Learn from Retail: News Roundup

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 payments industry must join together to develop clear guidelines about groups that perpetuate “hate and harm” before the government feels compelled to step in. This is according to an editorial by Infinicept Co-CEO and Co-Founder Deana Rich. Rich argues that the current lack of standards is leaving the door open for organizations and individuals that perpetuate hate to continue operating, and that the industry should take a proactive approach to stop their funding. From PaymentsJournal.

Invite-only audio app Clubhouse just reported a Series C fundraising round that valued it at $4 billion. The round was led by Andreessen Horowitz and new investors include Tiger Global Management and DST Global. The app recently partnered with Stripe to let creators accept payments from users. From Business Insider.

The response of retailers to the pandemic demonstrates how business leaders should respond to crises. Among the lessons learned are the need for businesses to adapt as the environment evolves. Retailers’ COVID-driven embrace of digital solutions, including embedded payments, is one example of a shift that happened more quickly than many expected, but is now here to stay. From Forbes.

Shopify sees the role of its platform as enabling businesses to sell anywhere, putting the “power in their hands.” In this interview, the head of the company’s Canadian operations explains how Shopify views itself in comparison with marketplaces such as Amazon or Walmart. He also shares stories about how the company’s merchants innovated to overcome the challenges of the pandemic. From The Star. 

Industry News

Mastercard: Mastercard Enters into Strategic Partnership with Central Bank of Iraq to Advance Digital Payments in the Country

Sphere: Sphere Joins with Raintree Systems to Enable Secure, Integrated Payments for Physical Therapy Practices

AsiaPay: AsiaPay Partners with Qiscus to Enhance Customer Experience with Frictionless Checkout and Payment

BlueSnap: BlueSnap and Chargebee Announce New Partnership

Square: Square Extends Lending Arm to Australian Businesses

Cantaloupe, Inc.: USA Technologies Officially Launches as Cantaloupe, Inc.

Flutterwave: Forter Partners with Flutterwave to Drive eCommerce Growth Across Africa and Beyond

OLB Group: EZ Sports Technologies Selects OLB to Provide Digital Merchant Services and Payment Acceptance Solutions for Select Minor League Baseball Teams

PayPal: UATP to Offer Pay in 4 With PayPal for Airfare Purchases Across its Airline Partners

Blackbaud: Blackbaud’s 2020 Social Responsibility Report: Helping Good Take Over

Flywire: Majority of Finance Professionals Say Difficulty with Collecting Cross-Border Payments Slows Global Expansion

PAR Technology: PAR Technology Celebrates Historic Partner Milestone

Mastercard: RBL Bank and Mastercard Partner to Offer First-of-Its-Kind Payment Functionality in India

Mastercard: Mastercard to Acquire Ekata to Advance Digital Identity Efforts

Stripe: Stripe Issuing Launches in Europe

Guidewire Software: Commerce Bank Joins Guidewire PartnerConnect Solution Alliance Ecosystem to Digitize Claims Payments

Visa: Moneta Technologies “Amole” and Visa form Strategic Partnership to Expand Access to Digital Payments for Ethiopian Merchants and Banks

Nuvei: Nuvei to Acquire Mazooma, a U.S. Focused Gaming and Sports Wagering Payment Technology Provider

PayJunction: PayJunction API Adds Remote Billing and Invoicing Feature

Pineapple Payments: Pittsburgh-Based Companies, Pineapple Payments and eServices Technology, Expand Integrated Payments Partnership