USA Technologies Up 25% in Revenue Growth; Paytm #2 in Cashless: News Roundup

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.

Public PF Quarterly Results 

USA Technologies reports 25.7% revenue growth year over year. The company earned a total revenue of $42.1 million, with 80% of revenue from recurring license and transaction fees. “We are pleased to report record quarterly revenue led by an expanding customer base and strong growth in connections,” said Don Layden, USA Technologies’ interim chief executive officer. From USA Technologies.

Payments to Prosperity

Indians link financial services with greater prosperity. According to a recent survey conducted by PayU, as many as three in five Indians (79%) believe that readily available access to financial services has increased their prosperity. In addition, more than 75% believe financial services can help them plan for future prosperity. The PayU global survey polled perceptions of prosperity across 18 different high-growth financial markets. From IBS Intelligence

Cash Still King

Cash still king despite demonetization efforts. Three years after the Indian government initiated its push towards demonetization, currency in circulation (CIC) has jumped to an all-time high. And while the data suggests several anomalies present in the trend, the numbers show a 25.63% jump in CIC compared to November of 2016. What could be the reason? From The Indian Express.

Big Brands Doing Big Things 

Paytm second in line for most preferred cashless service. Japan’s QR-based payments arm of Paytm, PayPay, launched in October of 2018 and has become the second most preferred cashless service in just one year. In partnership with SoftBank and Yahoo Japan, PayPay is on its way to super app status with multiple services that include food, travel, transportation and more. From Financial Express introduces recurring payments, in partnership with Stripe. Already supporting a large segment of self-employed artists, news publishers, game developers and creators, is enhancing their product offering with recurring payments. Now, users can benefit from a subscription feature available on their personal website for repeat contributions from their customers. From Techcrunch.

The Quick Response Edit

PayNow adopts universal QR code. In an effort to enhance convenience and ease, PayNow has joined the entities in Singapore using one universal QR code that combines multiple digital payment solutions. With this code, consumers and businesses can now make all e-payments via one interface and avoid the necessity for multiple QR codes for payment remittance. The Singapore Quick Response Code (SGQR) can be scanned through consumer banking apps and still enables payment via PayNow. From The Straits Times.  

Industry News 

Boost: Boost Payment Solutions Collaborates with J.P. Morgan to Offer Fully Integrated Automated Payments

Toast: Toast Announces the Launch of Toast Capital to Provide Restauranteurs with Access to Fast, Simple, Flexible Funding

FIN: FIN Supports FedNow,  Urges Federal Reserve to Act Quickly

PayPal: PayPal mCommerce Study: Mobile, Trust & Social Buying Top-of-Mind

FreshBooks: FreshBooks Announces Same-Day Deposits for Small Business Owners

Phreesia: Phreesia and Lafayette General Health Partner to Deliver a Better Patient Experience

Mastercard: Mastercard Launches Fintech Express in Asia Pacific; Rapyd Onboarded as the First Fintech Partner to Join the Program and Obtain an Issuing License