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.
Alipay’s parent company Ant Financial is bringing investment dollars to Myanmar. The company is investing in Digital Money Myanmar, a joint venture between a local holding company and a Norwegian mobile carrier. The company operates a remittance platform called Wave Money, which it plans to expand into a broader digital payment platform. From Nikkei Asian Review.
The pandemic has helped PayPal attract a new demographic group: “silver tech.” The company’s CFO, John Rainey told a conference recently that Americans over 50 were its fastest growing market segment from March to April. The growth in transactions from this group helped it achieve “pre-COVID levels” in payment volume, and the company thinks the trends are sustainable, he said. From CNBC.
Payment volume in India has fallen year over year. Indians have cut back on spending across the board during the pandemic. Payments there in March fell 46% from the same time last year. Wallet usage declined 22% and card payments also fell dramatically. From Times of India.