UnionPay Partners with Local PFs to Brings QR Codes to Malaysia

Payment Facilitator
UnionPay Partners with Local PFs to Brings QR Codes to Malaysia
China-based payments network UnionPay announced last week that it is rolling out acceptance of its EMV-compliant QR code payments solution across Malaysia.

To help facilitate the rollout, UnionPay is working with acquiring partners as well as financial institutions and other non-financial institution partners.

PayPal Offered with Samsung Pay; Square Acquires Certain Assets of Zesty: News Roundup

Payment Facilitator
PayPal Offered with Samsung Pay; Square Acquires Certain Assets of Zesty: News Roundup
PayPal will now be offered wherever Samsung Pay is accepted, and Square acquires certain assets of catering platform Zesty. And in other news, payments platform Adyen crosses the $1 billion threshold and Checkout.com becomes the first provider to accept payments from Saudi Arabia’s domestic payments network.

PF Paysafe Announces Plans to Acquire iPayment; Stripe Partners with Sage: News Roundup

Payment Facilitator
PF Paysafe Announces Plans to Acquire iPayment; Stripe Partners with Sage: News Roundup
Paysafe announces plans to acquire iPayment while global retail giant Walmart is reported to be in the midst of a majority purchase of Indian ecommerce company Flipkart. And in other news, Mastercard expands India technology hub and Stripe enables Sage customers to get paid twice as fast. 

Part II: You, Me, and Everyone You Know – The Impact of FinCEN’s Beneficial Ownership Requirements

Payment Facilitator
Part II: You, Me, and Everyone You Know – The Impact of FinCEN’s Beneficial Ownership Requirements
In part I of this series, we discussed the impact of the beneficial ownership rule on banks and their payment facilitator relationships. In this installment we discuss how the beneficial ownership rules apply to a bank acting as an originating depository financial institution for Automated Clearing House (ACH) transactions and its relationships with Originators, Third-Party Service Providers, and Third-Party Senders.