Checkout.com comes to Boston while new partnerships for Square and Wirecard enhance growth opportunities for cashless commerce. And a Pivotal investment drives its expansion efforts in fintech capabilities. Here’s your weekly news roundup.
Checkout.com kicks off its U.S. expansion efforts with a new Boston office. The end-to-end payments solution that offers one streamlined point of integration, whether in-app or online, has recently launched stateside as part of its global expansion initiative.
Joining the team as president of the North American office is Peter Caparso – an industry veteran with 14+ years of experience in the global payments space. Regarding the recent move, Checkout.com is optimistic about the marketplace response and feels the company’s solutions provide a unique offering “in a sector where commoditization tends to be the industry norm,” the company said in a blog post.
Stripe has introduced customizable, pre-built components that its sellers can use to create checkout forms on their own pages. Stripe Elements are designed to securely collect users’ payment information and cut down on errors, the company said. They incorporate features such as real-time validation and masking of the data.
Square partners with Eventbrite, an online event-management platform that enables streamlined ticketing and registration for millions of events each year. Not only will Square be enabling payments for the online platform, but the company reports it has also invested $25 million towards Eventbrite’s vision to eventually expand into the largest platform provider for live experiences.
This strategic partnership will enable online, mobile and in-person payments via one single platform that Square provides. This will give Eventbrite a big-picture overview of all sales activity, which drives more effective data analysis and, consequently, a better event experience for Eventbrite attendees.
Pivotal Payments drives its expansion efforts with a new investment agreement. In an effort to enhance its fintech capabilities, Pivotal Payments has announced a recent investment partnership with private equity firm Novacap and Canadian pension funds manager CDPQ.
What this investment means for Pivotal is the ability to pursue more markets while continuing to develop its payment technologies. And, according to Philip Fayer, Pivotal’s founding president and CEO, the investment is part of an “aggressive growth plan” the company has been strategically pursuing over the last few years.
Wirecard partners with evopark, a German market leader in digital off-street parking, to streamline the payments experience for evopark customers. According to Wirecard, the plan is to link the evopark app with Wirecard’s mobile payment and loyalty features to “guarantee a seamless customer journey at all car parks across Germany.”
Evopark offers cashless parking options via an app that also displays available and nearby car parks. With the new functionality this partnership provides, app users will not only be able to pay via the app, but also receive cashback from retailers located near the car parks. And this is just the beginning – the company’s future plans include enabling payment for electric charging stations.
MobiKwik, an Indian mobile payments provider, has seen more than a 400 percent increase in QR code transactions this year, according to a report in the Economic Times. What’s driving these numbers? The article quotes Vineet Singh, chief business officer of MobiKwik, as saying it’s the “arbitrage of convenience.”
And with 1.5 million codes already available for use across both large and small retailers in the country, Singh goes on to say that “QR codes will drive digital payments in India.” In fact, the company’s growth plan includes enabling more than five million merchants with QR codes by 2017.