PF Toast Announces Restaurant Recovery Fund; Stripe Growing Its Asia Presence: 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.
Opportunity in Asia
Leading payments provider Stripe has boosted its staff in Asia by 40% this year. According to a company executive, Stripe now has more than 200 employees in the region to support its expansion there. It plans to grow in Southeast Asia, Japan, China and India, and launched a pilot project in Indonesia earlier this year. From Reuters.
Paytm’s leader says the rapid shift to digital technology resulting from the pandemic is a “once in a lifetime opportunity” for India’s entrepreneurs. The PF’s CEO, Vijay Shekhar Sharma, told an audience at the Singapore FinTech Festival that increased internet use has subsequently increased the need for technology tools in developing countries. This is a need that entrepreneurs close to those developing markets – particularly those located in India – will be well positioned to serve. From CNBC.
The government of Sweden is actively exploring the idea of moving to a digital currency. The country is already the most cashless society in the world, with less than 10% of all payments made in cash. The government expects to complete its feasibility analysis within the next two years. From Bloomberg.
India’s centralized UPI payments platform has been a big reason for the growth of digital transactions there. Growth in UPI volume has far outpaced that of wallet payments. Digital payments players will likely need to diversify to remain competitive in this intensely competitive environment. But despite the continued rise of digital transactions, the amount of cash held by the Indian public is at an all-time high, likely because consumers still like to use it for day-to-day transactions. From Quartz India.
Toast: Toast Announces $35M Winter Restaurant Recovery Fund
Blackbaud: Blackbaud Launches Updated Marketplace to Deliver Increased Innovation for Social Good Organizations
Square: Square and POWDR Bring New Commerce Tech to the Ski Slopes
AsiaPay: AsiaPay Partners with Azupay to Provide Real-Time Payments Across Australia
Paysafe: Paysafe Launches Paysafecash™ in US to Enable Online Cash Payments
Adyen: Adyen and Flywire Partner to Boost Global Payment Capabilities for Vertical Industries
Juniper Research: mCommerce Payments to Rise to $3.1 Trillion in 2025
Flywire: Flywire Reports Record Growth for Digital Healthcare Payments Platform
Worldline: Worldline Announces a Major Strategic Commercial Acquiring Alliance with ANZ Bank in Australia
Paymentwall: Paymentwall Integrates NAPAS, the Local Domestic Card Network in Vietnam
Square: Square Appointments Now Available on Square Register for a Complete POS Solution for Beauty and Wellness Industry
PCI Security Standards Council: India’s Exclusive Payment Data Security Forum Focuses on Securing Payment Data in The Pandemic Era
PayPal: PayPal Processed More than $185 Million in Donations this GivingTuesday in A Year Unlike Any Other
FIS: Worldpay from FIS and Visa Collaborate to Strengthen Digital Commerce Security and Convenience
Adyen: Adyen and Microsoft Launch Network Token Optimization