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.
The Code for Commerce
Shopify makes its runway debut. As part of this year’s New York Fashion Week, Shopify is bringing the runway to the digital airwaves. In partnership with luxury multi-brand ecommerce platform 11 Honoré, this year’s attendees will be given a digital catalogue showcasing all the looks from the runway. Audience members will also have access to customized QR “Shopcodes” that take the consumer directly to the purchase page for each runway look. From Shopify.
Cambodia and Thai central banks collaborate on QR. The two central banks have signed a memorandum of understanding in an effort to promote QR-based payments and financial innovation. As part of the agreement, interoperability standards will be developed for secure and efficient cross-border QR payments – as well as a strategy to promote financial innovation and the usage of local currencies in both countries. From The Cambodia Daily.
Big Brands Getting Bigger (or trying to)
Visa ups the ante for Earthport. The global brand has challenged Mastercard with a $319.84 million bid for purchase of the payments company Earthport. Originally backing the Mastercard bid, Earthport is now urging shareholders to accept the increased Visa offer. Mastercard, on the other hand, is urging shareholders to refrain from taking action on the Visa bid while they consider their options. From Reuters.
World Ski Championships completely cashless for first time in history. For the first time ever, the Alpine World Ski Championships will offer completely cashless commerce for food, drink and ticket purchases. Through a partnership with iZettle and Are 2019, attendees will be able to tap-and-pay via contactless cards, mobile phones or wearable technology. From Finextra.
RBI still being pushed for more free flow in data regulations. In response to India’s data localization standard, a few leading payments providers are actively petitioning the Reserve Bank of India (RBI) to allow more free flow in data usage across borders. However, there are other providers that feel the RBI regulation revolves only around data “storage” and not data “movement.” So for now, the industry seems divided on their interpretation. From Business Standard.