PaymentFacilitator’sNews 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 Doing Big Things
Stripe sets up shop in APAC. In an interview, the Silicon Valley veteran’s chief business officer talks about moving the company’s brand into Southeast Asia’s booming internet economy to stake its claim on the budding digital ecosystem. In an effort to establish long-term roots, Stripe recently hired former PayPal executive Rahul Shinghal to head its APAC expansion efforts. From The Business Times.
Google Pay rivals Paytm on UPI platform. The global brand has taken its payments arm to the winner’s circle of the United Payments Interface (UPI) platform. In terms of transaction value, Google Pay is ahead of Paytm and PhonePe by a margin of about 25%. In terms of volume, Paytm still holds the lead but not by much. FromET Tech.
Flipkart looks to launch KYC initiative and gets nod from RBI. The Walmart-backed Indian etailer currently has a KYC project in pilot status with about 10,000 users. The video KYC solution will enable the company to offer instant credit to customers who buy through its platform. If successful, Flipkart plans to roll it out to its larger user base in the next few weeks and has already received the “in-principle nod” from the RBI. From Business Today.
PF iPay launches affiliate program to unlock Africa’s digital market. One of Africa’s leading payments gateways, iPay, has launched a strategic affiliate program in an effort to tap Africa’s largely untapped digital ecosystem. The program targets web developers, merchants and digital marketers with clients who are selling online or in-store. From Capital Business.
Grab secures funding for fintech investment. Ride-hailing startup Grab plans to raise another $2 billion to support up to six individual acquisitions or investments the company plans to make in tech companies. Citing the opportunity for its financial services in Indonesia in particular, Grab is really putting the pressure on local rival Go-Jek with this recent initiative. From Nikkei Asian Review.