Payments News

On The Web

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Global

Shopify expands integrated retail solutions in Germany

“Shopify has expanded its integrated retail hardware for Shopify POS . In addition to Shopify Payments for in-person transactions to retail merchants in Germany. The company says merchants will benefit from unifying the online and offline shopping experience. The pandemic ushered in a new standard for shopping everywhere. Shopify’s research on consumer behaviour in Germany […]
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Companies

AmEx Deepens Its Ties in China Via an Acquiring Agreement With Leshua Technology

“U.S. payments networks continue to cultivate their connections to what is for them a potentially massive market in China. In the latest development, Leshua Technology announced early Friday it will support acquiring for American Express Co.’s joint venture in China. AmEx last year became the first foreign payments company to win approval to clear domestic transactions […]
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Global

India Launches Account Aggregator to Extend Financial Services to Millions

“India’s top banks five years ago built the interoperable UPI rails and enabled over 150 million people in the South Asian market to pay digitally. Scores of firms — including local firms Paytm, PhonePe, CRED and international giants Google and Facebook — in India today support the UPI infrastructure, which is now reporting 3 billion […]
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Global

American Express is ending support for Samsung Pay in India

“Samsung Pay was launched in India four years ago with support for credit cards and debit cards from various banks and financial institutions. American Express was among those banks that brought Samsung Pay support in the first phase. However, the bank has now announced that it will end Samsung Pay support in the country. American […]
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Global

Brazil Postpones Third Phase of Open Banking Roll-out | ZDNet

“The roll-out of the Open Banking in Brazil has been postponed as the third phase of the initiative, due to start today (30) shifted to October 2021. Open Banking – a practice that allows third party financial services firms to access consumer banking, transactional and other data from through, and other data with their consent […]

On The Wires

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Global

PhonePe Launches the “Pulse” of Digital Payments, India’s First Interactive Geospatial Website

“PhonePe, India’s leading fintech platform, today announced the launch of PhonePe Pulse, India’s first interactive website with data, insights and trends on digital payments in the country. The PhonePe Pulse website showcases more than 2000+ Crore transactions by consumers on an interactive map of India. With  over 45% market share, PhonePe’s data is representative of the country’s digital payment habits.”
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Deals

Kakao Pay Files an Updated Prospectus for IPO in October

“Kakao Pay is Korea’s biggest financial service platform that covers essential daily finance from digital payments, money transfer, insurance, loan, and asset management. We are pursuing innovative challenges through cooperating with about 130 financial service providers”, Kakao Pay CEO Alex Ryu said. The CEO added that the company will continue to bring about positive changes in the […]
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Deals

Prosus Agrees Acquisition of BillDesk by PayU for US$4.7bn

“Prosus N.V. (“Prosus”), the global consumer internet group and one of the largest technology investors in the world, announced today that an agreement has been reached between PayU and the shareholders of the Indian digital payments provider BillDesk to acquire BillDesk for US$4.7 billion. The proposed acquisition will see PayU, the payments and fintech business […]