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.
Big Brands Doing Big Things
eBay’s move to simplify payments helps revive company? Yes. As eBay works to establish more platform appeal for both shoppers and merchants, its move away from PayPal is drawing interest from analysts, who describe lower fees for sellers as a “clear win.” From Market Watch.
Uber is driving the competition in valuation. Going full-speed towards an IPO next year that could value the corporation as high as $120 billion, Uber seems to be leading the competition. But its rivals like Grab, Via and Taxify don’t seem to be too intimidated. From Techcrunch.
GrabPay expands into Cambodia and Myanmar. In an effort to expand its range of business into the ASEAN countries, this is the next big launch for the Singapore-based ride-hailing company. And while Grab has no intention to expand outside the Association of Southeast Asian Nations, competition is heating up. With a combined population of 650 million, Grab’s goal is to become the “one ASEAN e-wallet” for Southeast Asian locals. From The Nikkei Asian Review.
Cashless: Risk or Reward?
Cash is on the decline in Canada but at what cost? As cashless continues to gain momentum in Canada, the Bank of Canada has begun to assess the risks of this shift. Among the potential pitfalls cited are a lack of privacy with cashless, more dependency with cash should outages occur and less potential of security compromise with cash. Will this halt the momentum? From CBC.
The Quick Response Edit
QR code part of talks to replace biometric eKYC in India. Following the Supreme Court’s rejection of the biometric eKYC model used by banks and telecom companies for verification and onboarding, QR code functionality is being considered as a replacement. The government and Reserve Bank of India are considering the use of QR for ‘offline Aadhaar’ for services such as payment wallets, opening bank accounts and purchasing insurance covers. From Business Today.
Floom has raised $2.5 million in seed funding. The online marketplace and SaaS for independent florists offers the software and tools necessary for their clients to do business. Funds raised by the initiative will be used by the company to expand their operations and offerings into the U.S. marketplace. From Techcrunch.