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.
Was Adyen stock priced too low? Payments company Adyen saw its market value double to $17 billion with its recent debut on the Euronext exchange. Originally priced at 240 euros, share price doubled after the first hour of trading. This has investors wondering if the initial IPO was underpriced. From Reuters.
Square ventures outside the box and stock surges. The New York State Department of Financial Services has granted Square a virtual currency license, which means it’s a go for cryptocurrency in the Big Apple. This means New Yorkers can now trade cryptocurrency on the company’s proprietary Cash app. After the announcement, shares of the company hit a 52-week high. From CNBC.
Shopify empowers the entrepreneur with Hatchful. The company’s new cross-platform app helps business owners create on-demand graphic assets for their branding initiatives. With this new offering, pre-designed logos are available for customization across iOS, Android and desktop browsers. From Shopify (blog post).
UPI challenges Mobikwik’s mobile wallet ranking. Holding its own as the second-largest mobile wallet provider (after Paytm) for years, Mobikwik has now been overshadowed by PhonePe and Google Tez. A late jump on the Unified Payments Interface bandwagon and the Reserve Bank’s KYC mandate look to be some of the culprits – but not all of them. From The Economic Times.
Still decades away from completely cashless. And that could be an understatement. According to Venmo COO Michael Vaughn, the world is still “decades, and decades, and decades” away from a completely cashless society. And the U.S. is “just starting to scratch the surface,” behind Finland, Sweden and parts of Asia. From CNBC.