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.Title: Stripe and Shopify
Big Brands Doing Big Things
Google Pay India clocks more than 240 million transactions in May. And this puts the global giant in the lead for United Payments Interface (UPI) transactions. Other worthy contenders include Flipkart-owned PhonePe at 230 million and digital brand Paytm at 200 million. From ET Tech.
RBI eases fintech woes with offline KYC.Leveraging the capacity of the Aadhaar database, the Reserve Bank of India (RBI) has published guidelines for offline KYC. This is a big win for India fintechs as it significantly streamlines the customer onboarding process. The only requirement is the customers have to voluntarily use their Aadhaar numbers for identification purposes. From ET Rise.
The Quick Response Edit
MayBank QRPay user base tops 250,000. And the numbers are expected to keep growing. The Malaysia-based mobile payments platform has recently added several name brands in an attempt to grow their user numbers and it seems to be working. MayBank was the first bank in Malaysia to offer QR payments and with the upcoming additions of such global brands as McDonalds and Starbucks, their momentum seems to be just getting started. From Finextra.
BI launches proprietary QRIS code. With the goal of universalizing cashless payments in the country, Bank Indonesia has launched their much-anticipated Quick Response Indonesia Standard (QRIS). Utilizing a more complex QR pattern, QRIS enables users from one payment service to transfer funds to any rival service within BI’s network. From TheJakartaPost.