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.
QR Standardization Going Global
Japan’s digital leaders take steps to unify QR. In an effort to bring one voice (or scan) to QR code payments, some of the biggest brands have come together. Line, Alibaba and WeChat Pay are some of the notable digital giants that have agreed to one unified QR code for purchases on their platforms. From Nikkei Asian Review.
Saudi Arabia steps towards standardization. Saudi Payments has signed a memorandum of understanding to implement a unified QR standard among twelve respective parties. Participants in the initiative include nine banks and three technology firms – the goal being to foster an integrated digital payments system that functions as an “open loop” payments ecosystem. From Telecompaper.
MobiKwik revenue grows 100%. Targeting their IPO launch within the next three years, the company is on point with a reported 100% revenue increase for fiscal year 2019. Catering to the underserved market in India, the fintech startup holds a steady focus on their offerings trifecta that seems to keep them well-positioned for success: digital payments, financial services and payments gateway. From YourStory.
India’s fintech companies to verify through eKYC. At least that seems to be the plan. The Department of Revenue in the finance ministry released a note outlining the potential for non-banking companies bound by the 2002 Prevention of Money Laundering Act to gain access to Aadhaar’s biometric-based database for eKYC customer verification. Permission will be contingent on compliance with Aadhaar’s privacy and security standards. From ET India.