Shopify Reports 110% Revenue Growth; Fiserv Brings Venmo QR Code to POS: 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.

Shopify reported that its revenue grew 110% year over year to $988.6 million during the first quarter. The company’s gross payments volume grew to $17.3 billion. “Shopify’s momentum continued into 2021 as digital commerce tailwinds remained strong and merchants took advantage of the range of capabilities offered by our platform. We are focused on building a commerce operating system that will help shape the future of retail. Our merchant-first business model positions us to capture the massive opportunity presented by the growth of digital commerce, benefiting both our merchants and Shopify,” said Amy Shapero, Shopify’s CFO. From Shopify.

PF Blackbaud reported GAAP revenue of $219.2 million for the first quarter, down 2% year over year, with GAAP recurring revenue up .9%. “Our first quarter results are encouraging as we continue to see strength in online payments and durability in our recurring revenue streams. We had solid bookings performance to start the year while reducing customer acquisition costs, and we continued to make accelerated investments in critical areas of the business,” said Tony Boor, executive vice president and CFO. From Blackbaud.

A number of payment companies, including several payment facilitators, are on TIME’s inaugural list of the 100 most influential businesses. Stripe, Shopify and PayPal were included, as was Flutterwave, a PF that operates in Africa. The list also included card brand Mastercard and Latin American ecommerce provider Mercado Libre. The publication said the list is its answer to the question, “Which companies are shaping our future?” From TIME.

The retail space is shifting dramatically as businesses rethink how to meet consumers where they are. This is according to PayPal CEO Dan Schulman. In this interview, he shared his thoughts on the future of superapps, how payment methods are going to “collapse into the mobile phone,” and why digital currencies will be a fundamental part of modernizing financial infrastructure. From TIME.

Industry News

Shopify: Making Money Moves: Shopify Capital Funded $2 Billion for Entrepreneurs

PayPal: PayPal Releases 2020 Global Impact Report

Celero Commerce: Celero Commerce Unveils New Payment Gateway, Celero Connect

Fiserv: Merchants Can Offer More Touch-free Ways to Pay as Fiserv Brings PayPal and Venmo QR Code Payments to the Point of Sale

Shopify: The Shopify Effect: 3.6M Jobs and $307B+ in Economic Impact in 2020

Infinicept: Fast-Growing FinTech Infinicept Welcomes Veterans of Shopify, Visa, First Data and United Way as Strategic Advisers

RealPage: Thoma Bravo Completes Acquisition of RealPage

Checkout.com: Tamara Announces the Largest Series A Round in MENA, $110 Million Led by Checkout.com

ThetaRay: ThetaRay’s Industry-Leading Anti-Money Laundering (AML) Solution for Cross-Border Payments Now Cloud-Based

Juniper Research: eCommerce Losses to Online Payment Fraud to Exceed $20 Billion Annually in 2021

Solarisbank: Embedded Finance Study by Solarisbank and Handelsblatt Research Institute Shows: 61 Percent of Germans Would Purchase Financial Services from Online Shops

Worldline: Worldline Continues to Build its “Payments Platform as a Service” (PPaaS) Solution, at the Heart of its Terminal Solutions & Services Transformation Roadmap

Mastercard: BOB Financial and Mastercard to Launch World’s First QR on Card Programme to Simplify Digital Payments

Paya: Paya Announces Strategic Acquisition of Paragon Payment Solutions