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.
Big Brands Going Big
PayPal India strategizes its move into a $215 billion market. The U.S.-based company has decided to take the jump into one of the market’s most lucrative sectors – online education. According to PayPal statistics, more than 2 million students are already paying online for education and this number is expected to reach 10 million by 2021. From YourStory.
PayPal increases cash advances and breaks UK SMB lending barrier. The global brand entered into the UK lending arena in 2014 through a platform called PayPal Working Capital. Designed to provide a financial lifeline for small businesses, the company has increased the advances enabled through its platform by an impressive 60% – breaking the £1 billion barrier for UK small business lending. From Finextra.
The Quick Response Edit
Mexico looks to QR to reach its unbanked population. Banco de México, the country’s central bank, looks to QR code technology to service a very large subset of their population. Strategizing potential partnerships with both Amazon and Argentine online marketplace MercadoLibre, CoDi (the QR-based mobile payments system) would help unite the ecosystem as less than half of Mexican households currently have a bank account. From Reuters.
SMBs in U.S. and Canada think they’re too small for fraud. And not just some small businesses – 48% think they’re simply not big enough to incur the wrath of online fraudsters. In 2018 alone, fraud cost SMBs an average of $28,313.33 – a number large enough to warrant concern – yet 58% also feel the concern should fall to the shoulders of the larger businesses. Where does this discrepancy originate from and why doesn’t size matter when it comes to fraud? From The Paypers.