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.
Private equity company Warburg Pincus is looking to raise $2.5 billion for a fund to invest in payments and fintech. This would be the firm’s second fund geared to deals in the financial sector. It plans to formally start fundraising in November. From Bloomberg.
The global shift toward digital payments means that fintech companies are outperforming the big banks. During the second quarter, profits for some payment companies, including PayPal, surpassed some of the world’s biggest banks. PayPal’s valuation also exceeds the combined value of Japan’s three largest banks. Despite a loss during the second quarter, Square’s valuation is more than Japan’s Mitsubishi UFJ Financial Group. From Nikkei Asian Review.
Indian PF Pine Labs has big plans to gain market share in South Asia’s payments market. Partnerships in the region are helping it expand its business there. Company CEO Amrish Rau discusses those ambitions as well as the company’s latest technology supporting contactless payment solutions in this interview. From Economic Times.
Turkey is the latest to join the ranks of countries looking to standardize QR codes. The country’s central bank recently released regulations to ensure interoperability, which it hopes will increase use of the barcodes and reduce its citizens’ reliance on cash. From QR Code Press.
RealPage: RealPage Acquires STRATIS IoT
Innoviti: Innoviti Partners with Visa to Develop Installments Platform for Face-to-Face Transactions