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.
Updates and Enhancements
Shopify takes reality to the next level – by augmenting it. By utilizing the functionality of Apple’s AR Quick Look, 3D models can now be viewed in AR, via Safari, on iOS 12 devices. With Shopify AR, small business merchants can now offer 3D exposure to their products via Shopify’s dedicated marketplace. From Shopify.
The QR Response
QR Codes have paved the way for growth in China and many of its tier 1 cities. But are they the future for Southeast Asia? Ultimately, it depends on who you ask. While China’s technology ecosystem is quite advanced, predictions have been made for a similar trend towards mass QR adoption to follow in all of Southeast Asia. From Yahoo.
Singapore drives cashless with UPI-based QR. SGQR – the world’s first Unified Payment QR Code is the most recent step in the move towards cashless. The proprietary QR code is compatible with as many as 27 different e-payments solutions and will be rolled out over the next six months. From Channel NewsAsia.
PayU gains the RBI advantage. The Indian-based payments gateway has received approval from the Reserve Bank of India (RBI) to operate as a non-banking financial company (NBFC). What does this mean for the company? One of the main advantages is an increased ability to offer credit products to its customers. From Fortune India.
New York pushes back on OCC charter’s forward momentum. Just last week, New York state’s top banking regulator sued the U.S. Office of the Comptroller of the Currency, seeking to void the agency’s decision to offer national bank charters to online lenders and payment companies. The complaint claims that the charter is unconstitutional and unsafe for at-risk customers. From Nasdaq.
Amazon: Friend or Foe?
Is Amazon helping or hurting small business? Amazon’s newest marketplace offering – Amazon Storefront – will offer a commerce platform specifically for small and medium-sized businesses. But is that a benefit or not? Definitions of what constitutes a “small or medium-size-business” seem to be in question, as well as what this could be doing to smaller businesses that can’t possibly compete with those benefiting from the favorable spotlight of the global brand. From The Verge.
Global PF Shopify questions Amazon’s motivation. Or, rather, its CEO Tobi Lütke does: “In a couple of years, if merchants decided that giving all their business’s data to Amazon, then starting to compete on buy buttons with every factory in the world, didn’t work out as that good of an idea, then I would not be surprised,” Lütke said. From Recode.