PF Nuvei’s IPO Is Largest Tech Offering on Toronto Stock Exchange; Cards Overtake Cash in Germany: 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.

Down to Business

Montreal-based PF Nuvei surged more than 30% during its debut on the Toronto Stock Exchange. The company’s IPO was the largest-ever tech company offering on the exchange, the company said, raising $700 million. Nuvei provides payments for retail, travel, gaming, and other industries, and has benefitted from the shift to online spending over the past few months. From Bloomberg.

Discipline and frugality are embedded in the company culture at PF This is according to the company’s founder and CEO Guillaume Pousaz in an interview at TechCrunch Disrupt. He told the publication that has a different business philosophy and approach to the market than companies like Stripe and Adyen. It has chosen to focus on big merchants, stay lean, and grow slowly. From TechCrunch.

Digital Download

The coronavirus pandemic has pushed digital payments usage ahead of cash in Germany for the first time. According to a study from Euromonitor International, card payments are expected to increase by 28% between 2019 and 2025. The German government helped speed the shift by doubling the transaction limit for contactless payments. From The Local.

The State Bank of India has introduced a partnership with Google to allow its SBI Card users to make card payments using the Google Pay app. Consumers will be able to use their cards for three types of contact-free transactions: tapping their phones at NFC-enabled POS terminals, scanning Bharat QR codes, and paying online. From Livemint.

Industry News

SpotOn: SpotOn Raises $60 Million in Series C Funding Led by DST Global

MRI Software: MRI Software Completes Acquisition of RentPayment™ Business from Priority Technology Holdings, Inc.

Behalf: Priority and Behalf Announce Collaboration to Deliver Flexible Cash Flow Solutions 

Worldline: Worldline and Unwire Join Forces to Transform the Way We Use Public Transport

Shopify: Shopify Announces Closing of Underwriters’ Over-Allotment Option in Connection with Offering of Class A Subordinate Voting Shares

Flywire: Flywire and Mastercard Team Up to Simplify Cross-Border Tuition Payments

Affirm: Affirm Raises $500M Series G Round

Paya: Paya Announces Strategic Acquisition of The Payment Group

Modernizing Medicine: Modernizing Medicine Selects Adyen to Incorporate Payments into Healthcare Platform