Mastercard Ups Financial Inclusion Commitment; FIS Announces $150 Million for Fintech Investment: 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.

COVID-19 Impact

The use of digital wallets to make payments is ticking up in Malaysia. The coronavirus outbreak and resulting stay-at-home directives there have led some providers to see their user numbers double in the last month. To encourage the adoption of contactless payments, one of the country’s top banks, Maybank, is waiving merchant transaction fees. From The Straits Times.

Digital payments volume falls 30% in India, according to PF Razorpay. The company has released data detailing the sectors that are most impacted by the virus outbreak. Unsurprisingly, travel and real estate transactions have dropped significantly, while media and entertainment along with IT and software are on the rise. Bill payments have seen the biggest increase during the country’s lockdown period, growing by 73%. From MoneyControl.

Investors are proceeding with caution, Forrester says. The research firm recently released a report noting that global funding in the fintech sector was $5.78 billion in the first quarter of this year, down from $7.77 billion during the fourth quarter last year. Investors are moving to safer bets from late-stage companies, it said. From Finextra.

Digital payments are playing a critical role during the pandemic. Digital payments are one of 10 top tech trends that are helping businesses stay open at the same time officials are trying to slow the spread of the virus. The technologies that people are turning to for help getting through this time are helping to build a more resilient society and could have a long-lasting impact. From World Economic Forum.

Acquisition News

Gojek has acquired mobile point-of-sale company Moka, further increasing its own digital payments capabilities. The Indonesian ride-hailing app paid $130 million for the company, which provides payments for restaurants, coffee shops, and retailers. Gojek recently raised $1.2 billion to fund further expansion. From Bloomberg.

Industry News

Mastercard: Mastercard Study Shows Consumers Globally Make the Move to Contactless Payments for Everyday Purchases, Seeking Touch-Free Payment Experiences

Mastercard: Mastercard Builds on COVID-19 Response with Commitment to Connect 1 Billion People, 50 Million Small Businesses, 25 Million Women Entrepreneurs to the Digital Economy by 2025

Toast: Introducing Toast Delivery Services™: A Flat-Rate Delivery Platform Built Exclusively to Benefit Restaurants

InstaMed: InstaMed’s Tenth Annual Report Finds High Consumer Demand for Digitization in Healthcare Payments

FIS: FIS Accelerates Innovation with $150 Million of New Capital for Venture Investments

PayMyTuition: PayMyTuition Launches Innovative Solution for Processing Cross-Border Tuition Refunds in Minutes

Klarna: Klarna Pledges to Support the Frontline Response to COVID-19 with ASOS Giveback Day

Klarna: Furniture and Jewelry Transactions Skyrocket 60% Week Over Week as a Record Number of US Consumers Choose Buy Now, Pay Later Options

Stripe: Stripe Issuing is Now Open to All US Businesses

Stripe: Major Updates to Stripe’s Payments Platform Increase Revenue and Reliability for Businesses

Paysafe: paysafecard Continues Expansion in South America with Launch in Paraguay

Payroc: Payroc Acquires Independent Sales Organization Gateway Payments

RunSignup: RunSignup Releases Looking Forward Guidelines for Races

Flywire: Flywire Unveils Framework to Help Universities Increase Fall 2020 Enrollment

Qgiv: Qgiv, a Sphere Company, Announces Acquisition of Nonprofit Payment Processor, Acceptiva

Pesapal: Visa and Pesapal Partner for Connected Payments in Africa

daVinci Payments: daVinci Payments Brings Video, Behavior Offers and Loyalty Enrollment to Payments with Brand Accelerator