| July 13 Payments NEXT newsletter: PhonePe, cashless Japan, MobiKwik, GoCardless, Stripe, Prime Days, Walmart e-commerce $1B loss, more...
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| Our weekly global payments news roundup has a distinct international flavor this week, starting with a look at Walmart’s unexpected bonus of payments provider PhonePe in its acquisition of Flipkart. Digital payments are taking off in India and PhonePe is poised for growth. In Japan cash is still used for 80% of purchases and the cashless society still seems a distant future. GoCardless is making international payments for recurring subscriptions easier with its EU expansion. Back in India, payments provider MobIKwik is also seeing substantial business growth.
Other roundup stories include Stripe, Etsy, Prime Day, Walmart's $1 billion e-commerce loss, and more. Enjoy your weekend reading!
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| India’s digital payments growth a Walmart bonus
According to Credit Suisse analysts, India’s payments market could grow from $200 billion today to reach $1 trillion by 2023. Walmart is smiling because it’s $16 billion purchase of more than 80% of e-commerce giant Flipkart included small payments subsidiary PhonePe. With Indian mobile usage exploding and digital payments growing fast, PhonePe provides an intriguing opportunity and several challenges. Read more… |
| Cashless in Japan still a distant reality today
Quick. Name a country where 80% of transactions are still paid for in cash. Surprisingly, that would be Japan, second only after Germany as the country that pays more in cash for transactions than any other. With all its advanced technology and financial services know-how, it seems incongruous even though there are government and private sector efforts to increase cashless and mobile payments. Read more… |
| GoCardless lowers recurring subscription payments barriers
If you’re a US business, selling products and services with recurring payments in foreign markets can be a challenge. Many foreign consumers and businesses simply don’t prefer to pay with credit cards, in contrast to US payments preferences. In fact, a recent Global Payment Preferences research report conducted by YouGov and GoCardless shows at least one-third of consumers are likely to choose Bank Debit/Direct Debit to pay for online subscriptions if offered. Read more... |
| Plans for payments growth in India 30-cents at a time
Could you double your financial services company revenue by offering loans for as little as $30 and insurance policies at 30-cents per month? After 10 years in operation, Indian digital payments company MobIKwik believes that’s its path to profitability this year and double its revenue within two years. The company has grown from its roots in digital payments to financial products including insurance, gold, and mutual funds and it plans for an IPO within two years according to a Bloomberg report. Read more… |
| July 12 Global payments news roundup
Roundup stories include Stripe’s outage problems providing a pain point for merchant payments. In Latin America, MercadoLibre’s CEO sees substantial e-commerce opportunities. Etsy is pressing its sellers to offer shipping with mixed merchant reactions. The National Retail Federation reports technology is improving the retail shopper experience. We’ve got eight things you should know about next week’s Amazon Prime Day sale and finally a look at Walmart’s $1 billion e-commerce loss for this year, despite $22 billion in revenue, and how they plan to deal with it. Enjoy your weekend reading! Read more… |
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