Square ended speculation by confirming its banking intentions this week. Chinese mobile wallet provider and payment facilitator Alipay continues its rapid expansion, adding to its stream of expansion and partnership announcements this week. And Mastercard introduced a program for merchants and other businesses looking for help going digital.
As the business world has taken note of Vantiv’s Worldpay acquisition, much of the narrative has focused on the size and scope of the deal. The acquisition creates a nearly $29 billion company and allows Vantiv to diversify its client base globally.
But what does all this mean to payment facilitators?
Leading payment facilitator PayPal announced last week that it plans to acquire Swift Financial, which provides working capital to businesses through both loans and advances on future revenue.
As we’ve noted previously, many small businesses are turning to payment facilitators for their capital needs. And PFs are seeing this business as one opportunity to expand the ways they serve their merchant clients’ business needs, in an integrated environment that includes payment processing.
Chinese e-commerce powerhouse Alibaba has agreed to form a joint venture with Marriott International. The venture combines Marriott’s expertise in hospitality with Alibaba’s in digital retail. Alibaba will manage Marriott’s storefront on its travel services platform.
Consumers will be able to use Alipay at Marriott locations. And in true payment facilitator fashion, the agreement promises to use technology platforms to provide Chinese tourists with an integrated travel experience.