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.
New to the Ecosystem
Paytm launches PayPay – a smartphone-based settlement service that marks the company’s official entrance into Japan’s payments ecosystem. Built around Paytm’s proprietary QR-code technology, PayPay aims to promote the use of cashless among Japan’s local consumers with all the conveniences that come with mobile-wallet commerce. From Entrepreneur Asia Pacific.
Stripe enhances security at the employee level. Already in fundraising mode on a $20 billion-dollar valuation, the company has recently hired Niels Provos away from Google. Selected as the new head of security, Provos was hired to reinforce a global message that Stripe is taking the security of its cloud-based services very seriously. From Techcrunch.
All Things India
Demonetization strengthens India’s e-payments surge. Argued by some as a failed attempt that actually hindered India’s growth rate, the Modi government’s demonetization regulation has actually lifted e-payments by one percentage point more than originally anticipated. From Financial Express.
The RBI issues dissent note in response to government recommendations for separate payments regulator. In short, the Reserve Bank India (RBI) feels “there is no case of having a regulator for payment systems outside the RBI.” The strongly worded document has been made public and upholds the belief that the current model is both stable and effective and, consequently, should not be tampered with. From Bloomberg.
JPMorgan opens new fintech campus in the heart of Silicon Valley. Located in Palo Alto and scheduled to open in 2020, the new campus will house 1,000 employees, including the entire WePay team that JPMorgan acquired last year. Plans for the new campus include an “innovation hub” and “state-of-the art technology to increase collaboration.” From CNBC.