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Paysafe to Acquire MCPS, Receives Private Equity Offer

Payments
Paysafe to Acquire MCPS, Receives Private Equity Offer
Payment Facilitator Mobile Business Compliance Security Payments Industry
Paysafe to Acquire MCPS, Receives Private Equity Offer
London-based payments technology provider Paysafe has been the poster child for activity in the payment processing space this week, as it looks to expand its services while receiving a possible offer from suitors of its own.

Paysafe, which also operates as a payment facilitator, announced that it has agreed to acquire Houston-based processor Merchants’ Choice Payment Solutions (MCPS) for $470 million.

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GlobalOnePay Launches Payment Facilitator Platform

Payments
GlobalOnePay Launches Payment Facilitator Platform
Payment Facilitator Mobile Business Compliance Security Payments Industry
GlobalOnePay Launches Payment Facilitator Platform
Citing the burgeoning opportunity for payment facilitators, another company is setting its sights on serving this market with a dedicated payment facilitator platform.

GlobalOnePay has launched an ecommerce platform that enables payment processing for payment facilitators, marketplaces, SaaS companies and ISVs.

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Acting Comptroller Defends Fintech Charter

Payments
Acting Comptroller Defends Fintech Charter
Payment Facilitator Mobile Business Compliance Security Payments Industry
Acting Comptroller Defends Fintech Charter
Last week, Acting Comptroller of the Currency Keith Noreika told the audience during an address in Washington, D.C., that he thought regulating nonbanks through a federal fintech charter was “a good idea.”

Noreika, a Trump administration appointee, defended the OCC’s right to establish the charter championed by his predecessor, Obama appointee Thomas Curry, despite states’ claims to the contrary.

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Stripe Acquisition, PayPal Partners: News Roundup

Payments
Stripe Acquisition, PayPal Partners: News Roundup
Payment Facilitator Mobile Business Compliance Security Payments Industry
Stripe Acquisition, PayPal Partners: News Roundup
In a roundup of this week’s news, Stripe makes an acquisition, PayPal announces more relationships, and the use of cards has surpassed cash usage in one more country.

Leading payment facilitator Stripe announced that it is acquiring Payable to help make tax reporting easier for platforms and marketplaces

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Paytm Delists 85,000 Sellers in Cautionary Tale for New Marketplaces

Payments
Paytm Delists 85,000 Sellers in Cautionary Tale for New Marketplaces
Payment Facilitator Mobile Business Compliance Security Payments Industry
Paytm Delists 85,000 Sellers in Cautionary Tale for New Marketplaces
Indian online marketplace Paytm Mall has said it is delisting 85,000 sellers as part of an effort to improve the customer experience on its site.

The move is a result of revising its onboarding process to better catch fraudulent sellers. The delisted merchants did not meet the new standards.

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QR Code Use Expanding with New Global Specification

Payments
QR Code Use Expanding with New Global Specification
Payment Facilitator Mobile Business Compliance Security Payments Industry
QR Code Use Expanding with New Global Specification
In another sign that QR code payments are gaining ground globally, EMVCo has released its first QR code specification.

China’s payment network UnionPay, a member of EMVCo, led the working group that developed the specification, the company said in a press release, calling it “the first globally interoperable technical solution for QR code payment.”

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Streamlining of State Regulatory System Continues, Slowly

Payments
Streamlining of State Regulatory System Continues, Slowly
Payment Facilitator Mobile Business Compliance Security Payments Industry
Streamlining of State Regulatory System Continues, Slowly
The varied state approaches to money transmitter laws are a common headache for many payment facilitators. Affected companies dream of a uniform system, where adhering to the requirements in one state means that you can operate in other states as well.

The road to that system is long, but the good news is, baby steps down the path are continuing.

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European e-Commerce, Contactless Transactions in London: News Roundup

Payments
European e-Commerce, Contactless Transactions in London: News Roundup
Payment Facilitator Mobile Business Compliance Security Payments Industry
European e-Commerce, Contactless Transactions in London: News Roundup
Leading payment facilitators are continuing to expand their presence and the capabilities they offer their merchant customers in this roundup of the past week’s news from around the industry.

Leading payment facilitator Shopify announced that it would enable checkout directly on its merchants’ domains, rather than redirecting customers to checkout.shopify.com for purchase completion. The company said that the capability would be free for all merchants and would be activated automatically.

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Visa to Invest in Klarna

Payments
Visa to Invest in Klarna
Payment Facilitator Mobile Business Compliance Security Payments Industry
Visa to Invest in Klarna
Visa and Klarna announced on Tuesday that the card network plans to invest in the Stockholm-based company.

The move comes at a time when Klarna – which has 60 million consumer and 70,000 retailer customers – has said it is looking to expand its product offerings and challenge the financial services status quo on a larger scale.

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U.K.: Contactless Payments Reach Halfway Point

Payments
U.K.: Contactless Payments Reach Halfway Point
Payment Facilitator Mobile Business Compliance Security Payments Industry
U.K.: Contactless Payments Reach Halfway Point
Recent surveys from the U.K. again highlight the difference between the market for contactless cards there vs. in the U.S.

A survey from Barclaycard says that British consumers now use contactless payments for more than half (51%) of their transactions under the limit of 30£.