In a roundup of briefs from this week’s news, payment tech companies have been busy making deals and introducing new capabilities, India’s payments app is now available for more users, and Aite talks to acquirers about best practices for merchant onboarding.
Australian payment facilitator PromisePay has changed its name to Assembly. The company cited its evolution from an online payments provider to a company focused on customer experience, as the reason for the change.
The company also announced that it had been chosen by Gumtree, an Australian classified ad site, to power Gumtree Connect, a site that connects service providers with prospective customers.
Infibeam, an Indian e-commerce site and technology provider, announced in a regulatory filing that it plans to merge with payment facilitator CCAvenue.
“With payment platform of CC A, Infibeam is a unique one-stop solution provider in the e-commerce segment providing Purchases to Payments solutions under one roof,” the company said in the filing.
Contact center technology provider Eckoh has introduced the capability to take a secure payment directly within a live web chat session. According to the company’s announcement, it is the first PCI DSS Level 1 service provider to offer payments solutions across phone, web, mobile, SMS, and live chat.
Indian payments technology provider FreeCharge announced a relationship with travel booking site Yatra.com. A Business Standard report says that the deal enables FreeCharge customers to pay for hotel, flight, bus and rail bookings using the site.
According to a report in the Economic Times, Airtel Payments Bank, a payments bank operated by telecommunication carrier Airtel, has expanded its operations to 200 villages across India, with a goal of reaching 5,000 villages.
As we’ve previously reported in PaymentFacilitator.com, the Reserve Bank of India established a special charter for payments banks in 2014, in an effort to expand more financial services to underserved segments across the country.
Also this week, the Indian government’s BHIM (Bharat Interface for Money) app launched on the iOS platform. Users of the BHIM app can send money to a recipient’s phone or government identification number, known as Aadhar. They can also use the app’s QR code feature to pay at participating merchants. Previously, the app was only available on Android systems.
And ICYMI, these recently released resources address security and fraud prevention issues that are relevant to payment facilitators:
Aite Group recently issued Balancing Risk and Return: Best Practices in Merchant Onboarding and Monitoring, an Impact Report for which it surveyed 20 executives representing companies in the global acquiring space about their merchant onboarding and monitoring practices. The report found that the addressable market for merchant monitoring and fraud prevention will reach $600 million by 2020, the researcher said in its announcement.