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.
PayPal reports fourth quarter and full-year results. Showing a lot of upward momentum, the global brand reported $4.96 billion in revenue in Q4, up 17% year over year, and total payment volume that increased by 22% to $199 billion. Payment transactions were also up by 21% at 3.5 billion with 9.3 million net new active accounts. “PayPal delivered strong results in 2019, achieving many records including revenue, net income and operating margin performance.” From PayPal.
Big Brands Doing Big Things
Swiping the stock market with trillion-dollar expectations, Visa and Mastercard could be the next US companies to reach $1 trillion in stock market value. With their stock market prices growing by nearly 50%in the past year, Visa Inc and Mastercard Inc currently rank 7 and 11 in the benchmark S&P 500 index. Should this momentum continue, both brands are slated to be worth $1 trillion by 2023. From Reuters.
What’s up with WhatsApp? Facebook’s digital payments arm has been given a six-month launch timeframe by CEO Mark Zuckerberg. The social media giant is looking to roll out WhatsApp Pay in several different countries around the world over the next six months – but not India. So why the exclusion of one of the world’s most active ecosystems? Due to the data localization requirement, WhatsApp has not yet been granted license to set up shop there. From Financial Express.
Razorpay: UPI payments up 885% in India’s payments ecosystem. According to a report by Razorpay, digital commerce is booming locally with an 885% increase in United Payment Interface (UPI) payments alone for 2019 and an overall increase of 338% in digital transactions. UPI usage is also slated to surpass card payments by nearly 20% in 2020. From The New Indian Express.
China primes itself for digital dominance. Already a notable influence in the fintech sector, China is making plans to “occupy the commanding heights of innovation” by backing blockchain technology, as well as other innovations that position the country as a digital force to be reckoned with. In just one example of the country’s trend toward a digital economy, ecommerce sales are predicted to represent 63.9% of total retail commerce by 2023. From Entrepreneur Asia Pacific.
Digital continues to drive the marketplace. Thanks to all the advances in financial technology, digital commerce is predicted to hit a record high this year with expectations for an overall transaction value of $4.7 trillion, a 15.3% year-over-year increase. And by 2023, the global ecosystem is slated for a $6.7 trillion digital market. From LearnBonds.