{"id":4845,"date":"2020-04-08T17:30:44","date_gmt":"2020-04-08T17:30:44","guid":{"rendered":"https:\/\/www.paymentfacilitator.com\/?p=4845"},"modified":"2023-02-13T09:29:21","modified_gmt":"2023-02-13T16:29:21","slug":"fintech-responds-to-covid-19-upi-growth-slows-in-india-news-roundup","status":"publish","type":"post","link":"http:\/\/infinicept.com\/payment-facilitator\/archive\/fintech-responds-to-covid-19-upi-growth-slows-in-india-news-roundup\/","title":{"rendered":"Fintech Responds to COVID-19; UPI Growth Slows in India: News Roundup"},"content":{"rendered":"\n

PaymentFacilitator\u2019s News Roundup is a curated mix of the\npast week\u2019s news and articles from around the web, including company\nannouncements, global payments news, and other coverage and analysis of topics\nrelevant to payment facilitators.<\/strong><\/p>\n\n\n\n

COVID-19 Impact<\/strong><\/h4>\n\n\n\n

COVID-19 is driving a need for fintech companies to\nreprioritize.<\/strong> Fintech has been a hot space for investor interest in recent\nyears, but general uncertainty is having an impact. Globally, deals are falling\nafter achieving record levels over the past couple of years, signaling a\npossible shift away from the focus on aggressive growth. So where does the\nspace go from here? From <\/em>CB\nInsights<\/em><\/a>. <\/p>\n\n\n\n

Or is funding continuing to flow in Southeast Asia?<\/strong>\nIn a somewhat contradictory view, IBS Intelligence reports that the amount of\nfunding that flowed into Indian fintech during January-March was up 40% despite\na decrease in number of deals. The numbers were similar across Southeast Asia. Analysts\nsuggest that an interest in companies that are increasing access to digital\nfinancial services may account for the positive numbers. From <\/em>IBS\nIntelligence<\/em>.  <\/p>\n\n\n\n

UPI payment growth slows in India.<\/strong> For the first time\nafter almost a year of ongoing growth, the Indian government-backed unified\npayments interface (UPI) has seen a decline in transactions. The payment method\nfell to 1.25 billion transactions in March after hitting 1.33 billion in\nFebruary. The slowdown can be attributed to a lack of activity as the country\nlocks down to mitigate the spread of the coronavirus. From <\/em>Inc42<\/em><\/a>.\n<\/p>\n\n\n\n

Driving Digital<\/strong><\/h4>\n\n\n\n

Another central bank has decided to tip the scales in\nfavor of digital payments.<\/strong> This time it\u2019s in Ethiopia, where a new\ndirective from the National Bank of Ethiopia has laid out a framework for\nregulating the electronic payments space. The ability to obtain a license to\noffer digital payments will not be limited to financial institutions. From <\/em>2merkato.com<\/em><\/a>.<\/p>\n\n\n\n

Funding News<\/strong><\/h4>\n\n\n\n

Phos gets funds.<\/strong> A U.K.-based fintech startup, Phos,\nhas announced \u20ac1.3 million in new funding. The company enables merchants\nto accept payments directly on their phones through its POS software. With this\nround, the company\u2019s total fundraising so far is \u20ac2.5 million. Phos works with acquiring\npartners to distribute its product, calling merchant end customers \u201cnotoriously\ndifficult to reach in a cost-effective way.\u201d From <\/em>TechCrunch<\/em><\/a>.<\/em> <\/p>\n\n\n\n

Industry News<\/strong><\/h4>\n\n\n\n

BlueSnap: Nacha\nAnnounces BlueSnap as a Preferred Partner for Digital Commerce and\nBusiness-to-Business Payments<\/a><\/p>\n\n\n\n

Tipalti: Tipalti\nto Waive Platform Fees for COVID-19 Relief Payments<\/a><\/p>\n\n\n\n

Monetary Authority of Singapore: MAS\nLaunches S$125 Million Package for Financial Institutions and FinTech Firms to\nStrengthen Long-Term Capabilities<\/a><\/p>\n\n\n\n

Mastercard: Mastercard\nCommits $250 Million To Support Small Business\u2019 Financial Security<\/a> <\/p>\n\n\n\n

RunSignup: RunSignup\nAnnounces RaceDay Experience for Virtual Events<\/a><\/p>\n\n\n\n

PayMyTuition: PayMyTuition\nDevelops Innovative Digital Tuition Payment Solution for Canadian Students Due\nto COVID-19<\/a><\/p>\n\n\n\n

Blackbaud: Blackbaud\nOutlines Initial Actions to Strengthen Financial Position Amid COVID-19 <\/p>\n\n\n\n

Mastercard: Mastercard\nEnables Higher Contactless Payments Across Canada<\/a><\/p>\n\n\n\n

ACI Worldwide: COVID-19\nCrisis Highlights Need for Real-Time and New Digital Payments Services Around\nthe World, New ACI Worldwide Research Reveals<\/p>\n\n\n\n

Wirecard: Wirecard\nCollaborates with Leading Hungarian E-commerce Agency UNAS<\/p>\n\n\n\n

Mastercard: Mastercard\nPartners with Industry to Increase Contactless Payment Limit Across Australia<\/a><\/p>\n\n\n\n

Mindbody: Mindbody\nLaunches Virtual Wellness Platform<\/a><\/p>\n\n\n\n

Grab: Grab\nSingapore Announces Additional Measures to Support Partners and Customers\nDuring Circuit Breaker Period<\/a> <\/p>\n\n\n\n

Deluxe: Deluxe\nEnters into Health Care Payments Claims Transactions Through New Venture with\nECHO Health <\/p>\n\n\n\n

Visa: Visa\nFoundation Commits $210 Million to Support Small and Micro Businesses and\nImmediate COVID-19 Emergency Relief<\/a><\/p>\n\n\n\n

PayU: PayU\nLaunches a Number of Innovative Initiatives to Support Businesses Amidst\nCOVID-19 Pandemic<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

PaymentFacilitator\u2019s News Roundup is a curated mix of the past week\u2019s news and articles from around the web, including company announcements, global payments news, and other coverage and analysis of topics relevant to payment facilitators.<\/p>\n","protected":false},"author":7,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","_FSMCFIC_featured_image_caption":"","_FSMCFIC_featured_image_nocaption":"","_FSMCFIC_featured_image_hide":"","footnotes":""},"categories":[1015],"tags":[103,107,195,229,332,401,502,570,768,930,943,951],"class_list":["post-4845","post","type-post","status-publish","format-standard","hentry","category-archive","tag-blackbaud","tag-bluesnap","tag-covid","tag-digital-payments","tag-funding","tag-india","tag-mastercard","tag-national-bank-of-ethiopia","tag-runsignup","tag-upi","tag-venture-capital","tag-visa"],"acf":[],"_links":{"self":[{"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts\/4845","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/comments?post=4845"}],"version-history":[{"count":6,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts\/4845\/revisions"}],"predecessor-version":[{"id":9111,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/posts\/4845\/revisions\/9111"}],"wp:attachment":[{"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/media?parent=4845"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/categories?post=4845"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/infinicept.com\/payment-facilitator\/wp-json\/wp\/v2\/tags?post=4845"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}