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.
Chicago’s “new normal” might include far less cash. This article compares a reluctance to handle cash during the pandemic with India’s demonetization policy in 2016, which saw an increase in digital payments adoption. And even after this pandemic ends, the emphasis on hygiene is likely to continue. From Chicago Sun-Times.
POS terminals are here to stay in India, at least for now. This is according to a report from PF Worldline, which says that the number of terminals deployed by acquiring banks in that country grew to top five million during the last quarter. The terminals are safe even during the coronavirus pandemic if they are disinfected regularly, the report said. From The Hindu BusinessLine.
New PF Offerings
An Egyptian PF is offering students a platform to pay tuition online. An agreement between Klickit and PF Paymob in Egypt will allow students of schools associated with educational management company GEMS Education to make tuition payments online. The companies expect to roll out the service to more countries later. From IT News Africa.
Payments platform and PF Instamojo is now offering small loans through WhatsApp. The company offers what it calls “sachet loans” – small-ticket loans available to merchants who are already on its platform. It has begun a program where reaches out to eligible merchants through WhatsApp. Interested merchants can apply and receive disbursement all through messages on the app. From Business Insider India.
Google Pay in India
Google is expanding the usefulness of its Google Pay app in India… Google Pay users will be able to order food and medicine through local delivery company Dunzo’s app, which is experiencing a surge in the number of orders during the pandemic. Dunzo is expected to increase the number of transactions processed through Google Pay, and in return, it will get access to the large set of users on the payment app. Google is also an investor in Dunzo. From Inc42.
… while it is also accused of unfairly promoting it. A complaint against the company in India alleges that it is giving its Google Pay app more prominence within the Android app store than its competitors. The country’s antitrust agency, the Competition Commission of India, is looking into the allegation. From Reuters.
Mastercard: Mastercard Announces Fintech Express