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.
Cashing in on Cashless
To bank or not to bank? That’s the new question in the ever-evolving UK economy. As more and more businesses continue going cashless, what does this mean for the unbanked individuals that do not have the ability to swipe or chip? Will the drive towards cashless completely cut them out of the economy? From The Guardian.
PayPal banks on benefits. E-wallets and mobile platforms are on the rise in APAC. And with an active consumer ecosystem and government support to digitize the economy, what does this mean for PayPal? For now, the company is banking on their global reach and security infrastructure to keep them relevant? But are customer benefits enough? From ZDNet.
Does cashless need to integrate? While the desire to move towards cashless is strong – and getting stronger – hesitancy still remains on the part of the retailers in the Philippines to officially adopt this digital change. Would an integrated system for cashless help? From SunStar.
Singapore fuels fire for cashless. Singapore is driving the adoption of cashless with a pledge to reduce cash withdrawals from ATMs and completely phase out paper checks by 2025. This is in contrast to China, which trumps the U.S. in mobile payments. From South China Morning Post.
Investments and Initiatives
Visa prepares for $250 million investment? The global brand may be planning to invest more than $250 million in Mumbai-based payments gateway BillDesk. This would value the company at approximately $1.5-2 billion. From The Times of India.
Grab launches GrabPay in Malaysia. The Singapore-based ride-hailing app continues its aggressive growth strategy with the recent launch. And while the company believes consolidation in the payments space to be inevitable, it touts its transport and food-delivery service as the major differentiators that enable it to stand out. From Deal Street Asia.
Singapore-based Carousell launches CarouPay. Online marketplace Carousell launches integrated payments system CarouPay, enabling users and buyers to make payments directly in Carousell’s app via DBS PayLah (a popular mobile wallet for Singapore locals). From Techwire Asia.
UPI and VNPAY drive push towards QR payments. UnionPay International has joined forces with Vietnam Payment Solutions Joint Stock Company to enable 30,000 Vietnamese merchants to accept UnionPay QR Code payment by November of this year. From Vietnam Plus.