PF RealPage Acquires STRATIS IoT; Warburg Pincus Raising Money for New Fintech Fund: 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.
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.
Mastercard: Mastercard and MDEC Ink MoU To Drive Electronic Payments and Accelerate Financial Inclusion
CSBS: State Regulators Are Opposed to OCC’s Payments Charter
RealPage: RealPage Acquires STRATIS IoT
Bill.com: Bill.com and KeyBank Introduce Key CashFlow, a Streamlined Payments Solution for Small and Midsize Businesses
Mastercard: Mastercard Launches Frictionless Retail Technology Solutions to Enable Touchless Economy
Klarna: Klarna Adds More Than 1 Million New US Consumers During the Summer Months
Innoviti: Innoviti Partners with Visa to Develop Installments Platform for Face-to-Face Transactions
RunSignup: RunSignup | GiveSignup Hosts a Virtual “Cram Session” to Prepare the Endurance Industry for an Unprecedented Fall