Social KYC: Ignore It At Your Own Risk

Payment Facilitator Mobile Business Compliance Security Payments Industry
Social KYC: Ignore It At Your Own Risk
Payment facilitators have many tools at their disposal to help them understand the risk of taking on a particular merchant’s business during underwriting. In many cases, though, the tools rely on information provided by the merchants themselves.

To validate that information merchants have provided, however, PFs have a vast resource for fishing out the true nature of the merchant’s business and the identities of the people involved.

Enabling Cross-Border and Omnichannel Commerce: News Roundup

Payment Facilitator Mobile Business Compliance Security Payments Industry
Enabling Cross-Border and Omnichannel Commerce: News Roundup
Much of the news over the past week has focused on enabling merchants to be everywhere. Several companies, including Wirecard and iZettle, have launched products to allow selling across borders using preferred local payments methods or unifying the consumer experience across mobile, e-commerce and the physical point of sale.

We also have news from Mastercard and an acquisition for Blackbaud in this week’s roundup.

Klarna Takes Disruption to the Banks in Europe

Payment Facilitator Mobile Business Compliance Security Payments Industry
Klarna Takes Disruption to the Banks in Europe
Stockholm-based Klarna has secured a banking license from the Swedish Financial Supervisory Authority.

With this license, the company can operate as a bank across the European Union. And according to Klarna, securing the license makes it one of Europe’s largest banks right out of the gate, with 60 million customers.

The company sees itself as a formidable competitor to Europe’s banks.

Airbnb Embraces Better KYC with Trooly Purchase

Payment Facilitator Mobile Business Compliance Security Payments Industry
Airbnb Embraces Better KYC with Trooly Purchase
This may come as a surprise to some, but people who use Airbnb aren’t always on the up-and-up.

Despite the home-sharing marketplace’s efforts to keep fraudulent listings and other bad behavior off the site, scams still make headlines. The company is apparently hoping that technology can help.

Wirecard Offers Omnichannel in SE Asia

Payment Facilitator Mobile Business Compliance Security Payments Industry
Wirecard Offers Omnichannel in SE Asia
Businesses that have embraced the payment facilitator model often do so because they recognize the need to simplify the complex business of payments for their merchant clients.

They understand how important it has become to integrate payments into a merchant’s offerings in a flexible way that helps them serve their customers. A natural extension of that is the omnichannel approach – enabling the merchant to seamlessly connect with customers through both digital and in-person touchpoints.

Stripe Expands in Europe, MobiKwik Raising Funds: News Roundup

Payment Facilitator Mobile Business Compliance Security Payments Industry
Stripe Expands in Europe, MobiKwik Raising Funds: News Roundup
In this week’s news roundup, Stripe expands and the agreements forged between PayPal and the card networks continue to deliver new features.

Leading payment facilitator Stripe said in a blog post that it has fully launched in six new European countries. Now businesses in Germany, Austria, Switzerland, the Netherlands, Belgium, and Luxembourg have access to all of Stripe’s products.

Localizing Transactions Key to Attracting International Shoppers

Payment Facilitator Mobile Business Compliance Security Payments Industry
Localizing Transactions Key to Attracting International Shoppers
A study released by shipper UPS earlier this month concluded that today’s U.S. online shoppers are more likely than before to make purchases from international retailers, and more likely to buy from online marketplaces.

What does this trend mean for the merchants looking to attract those shoppers – and the payment facilitators enabling their payments?

Wirecard Enables Payments for Subscription-Based Site in Turkey

Payment Facilitator Mobile Business Compliance Security Payments Industry
Wirecard Enables Payments for Subscription-Based Site in Turkey
Munich-based payments processor Wirecard continues to expand its global reach, this time with a new partnership in Turkey.

Wirecard Turkey recently announced that it is enabling payments for Istanbul-based Startsub, operator of the web site Aydanaya.com.

New Directive Further Expands Opportunity for India PFs

Payment Facilitator Mobile Business Compliance Security Payments Industry
New Directive Further Expands Opportunity for India PFs
India’s push to digitize financial transactions and remove cash from its payment systems continues.

The government’s latest instructions focus on a specific vertical, potentially expanding opportunity for payment facilitators and other payment providers in India.

EMV on the Go, Visa Ready for Business: News Roundup

Payment Facilitator Mobile Business Compliance Security Payments Industry
EMV on the Go, Visa Ready for Business: News Roundup
This week, simplicity and convenience – whether that means shopping from the comfort of home, paying wherever you are or just having the ability to use your preferred method – are at the center of much of the payments industry news.

Paytm has expanded on its use of QR codes to bring online and offline together for small merchants, Visa has launched a new program aimed at its partners in B2B, and Amazon hit a milestone.