Pine Labs Announces Strategic Investment; Google Introduces Mobile Shopping Platform: 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.

States vs. Feds

State regulators are likely to continue to defend their turf over the latest move from the OCC to define a charter for payments companies. States have so far successfully argued that they – not the federal government – have the authority to regulate nonbanks. But Acting Comptroller of the Currency Brian Brooks isn’t shying from the fight. From Bloomberg Law.

Ecommerce Extra

Platforms like Flutterwave and Paystack (both of which operate as PFs) have solved the issue of taking payments for small merchants that want to do business online in Nigeria. This profile of new entrant Seller describes how these types of companies are making it easier for small businesses to meet operational, logistical and payments needs with a single provider. From TechCabal.

Google has introduced a mobile video shopping platform called Shoploop. The project originated in Google’s R&D division, and is intended to bring together video and ecommerce to introduce consumers to new products in an interactive setting. Users watch product demos or click to make a purchase on the merchant’s website. From TechCrunch.

Payment Partnerships

Pine Labs, a PF based in India, has announced a strategic investment in Fave, a fintech platform serving Southeast Asia. Fave enables QR code-based payments and cashback loyalty programs for restaurants and retailers. With this partnership, Pine Labs will integrate Fave’s products into its terminals. From Economic Times.

Indian payment facilitator PayU has partnered with Shiprocket Social and Quick eSelling. PayU will offer merchants on the two ecommerce platforms payment services, including same-day settlement, international payments, and payment through different modes such as links, text messages, WhatsApp and Instagram. From The Banking & Finance Post.