Victoria Day long weekend might be just around the corner, but that didn’t stop interesting and exciting payment industry headlines from pouring in this week!
1. Apple Pay Will Soon Launch in 16 More Countries, Including Bulgaria and Croatia
Apple Pay has gradually been adopted across Europe and Asia, and this week it was announced that this adoption rate is quickly speeding up with expansion into Poland, Bulgaria, Croatia, Saudi Arabia, and many other countries in Eastern Europe. Apple CEO Tim Cook has said that Apple Pay will be available in more than 40 regions by the end of 2019, so we look forward to seeing where’s next!
2. India’s largest mobile wallet company Paytm now offers a credit card
Patym as branched out to several businesses in recently years, and this week it added another category to it’s ever-growing list, credit cards! The use of credit cards has continued to stay very low in India, with under 50 million people possessing one, and most Indians using cash as their main payment form. The Paytm First Credit Card comes with many benefits, as they hope to lure in new credit card customers in the coming months.
3. Mastercard Launches API Platform For Merchants, Issuers
This week Mastercard announced the launch of Mastercard Innovation Engine, an API-based digital platform that enables card issuers and merchants “to provide digital capabilities to customers”. Mastercard has said that this plug-and-play platform will bring together their own assets and FinTech services to provide better customer experiences. To learn more about the Mastercard Innovation Engine, make sure to read the linked article above.
4. Contactless adoption seen among top payment trends this year
Contactless payment adoption is among the top six trends when it comes to retail payments this year, as noted in a blog posted by Forbes by SurchX CTO Krishna Doddi. Other notable trends include reward card revamps, and machine learning. With mobile payments gaining more traction in the U.S, contactless adoption rates are expected to catch fire. Given the recent headlines with contactless adoption rates across the country, this news only makes sense!
Excited about learning other payments news? If so, make sure to check out our recaps from May 6 to 10 and April 29 to May 3.
The information in this article is provided solely for informational purposes and is not intended to be legal, business or other professional advice or an endorsement of any of the websites or services listed.