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.
A Unified Approach
Singapore launches unified e-payments system for vendors. In an effort to continue the push towards cashless, 500 vendor locations in Singapore’s local marketplace are slated to join one unified payments system. The system (provided by Nets) unifies payments from 23 providers so customers can benefit from the convenience of multiple payment options at one terminal and vendors too with a more streamlined payments offering. From StraitsTimes.
Ghana to launch universal QR code. In an effort to speed up their momentum towards cashless, Ghana’s government is launching a universal QR initiative. With this, there is expected to be no need for POS devices anymore – only mobile phones. Expectations for success are high and launch is slated for fourth quarter of this year. From allAfrica.
Japan takes a swing at cashless. Japan’s government has previously announced plans to double cashless transactions by 2025. And with 80% of the country’s transactions currently settled in cash, a jumpstart seems to be required. So, the Golden Eagles’ baseball stadium kicked off its season with a no-cash policy. A proprietary QR code was encouraged instead and sales at its food, drink and merchandise stalls jumped 20% as a result. From The National.
Big Brands Getting Bigger
Paytm to reach 2 billion transactions per quarter by end of year. The payments company is set to expand operations in India to reach its 2 billion target and claims to already have more than 12 million merchants using the Paytm QR code. Already the leader in offline merchant payments locally (with 80% market share), the ultimate goal is 2 billion transactions per quarter through its various payment methods (QR codes, wallet, UPI, net banking and cards). From Financial Express.
FIS unconditionally approved for Worldpay acquisition.Fidelity National Information Services Inc (FIS) secured unconditional EU antitrust approval for the acquisition of Worldpay. The valuation of the deal, announced in March, is said to be the largest in the electronic payments industry at $35 billion. From Reuters.
Ezetap’s number 2 moves to number 1.Ezetap co-founder Abhijit Bose made the move to Facebook-owned WhatsApp towards the end of last year, leaving his wingman to take the lead of his digital payments dynasty. Yourstory features the personal account of this transition with a video interview featuring wingman-to-lead-man Byas Nambisan. From Yourstory.