India POS Terminals News

Related Digital Commerce Industry News

• November 2023 - Visa, has announced the expansion of Real Time Visa Account Updater (VAU) to selected markets in Asia Pacific, streamlining the payment experience for merchants and customers by providing cardholders with a single credential for life. With the introduction of the service in Asia Pacific, consumers and merchants in the region will have access to Real Time VAU across subscription services such as ride-hailing, food delivery and monthly utility payments, amongst others.
• July 2023 - Fiserv has launched Federal Reserve’s new instant payments system driving more large merchant interest in pay-by-bank capabilities for consumers and by launch of the Federal Reserve’s FedNow instant payments system has heightened interest in pay-by-bank options.

• April 2023 - Paypal Holdings Inc. stated that it has introduced new features In addition to its complete payment solution for small businesses, . The solution provides a range of payment options, such as PayPal, Venmo and Pay Later, for small businesses. Incentivizing customers to choose how they want to pay can help drive the checkout process.
• February 2023 - Yiwu, located in eastern China's Zhejiang province, launched a payment platform to facilitate global online transactions. A new payment platform Yiwu Pay aims to facilitate over 900,000 market entities as through this platform, about 2.1 million micro, small, and medium-sized enterprises along the supply chain will be able to better connect to the global market and conduct easier and safer cross-border transactions.

• September 2023 : Tata Consultancy Services (TSC) has partnered with BankID BankAxept AS, Norway’s national payment and electronic identity systems provider. This alliance aims to establish and manage an operations command center.
• June 2022: Bulder Bank, a Norwegian financial services provider, launched new enriched data transaction services for its retail banking customers. The new service transforms previously unorganized payment data and returns enhanced and intuitive information that displays the clean merchant's name, the corresponding logo, and the category.
• May 2022: The government of Norway announced its plan to replace the digital ID authentication platform BankID with new apps which require face or fingerprint biometrics and passwords or PINs, in some cases, for users to log in and access banking services online. Such developments will further enhance the payment system in the studied market.
• April 2022: The anti-fraud and identity verification platform Sphonic, based in the United Kingdom, was bought by digital ID company Signicat, a Norwegian business. Signicat thinks that by integrating Sphonic's know your customer (KYC), know your business (KYB), and anti-money laundering (AML) solutions into its existing identity platform, it would be able to better safeguard financial institutions from fraud, financial crime, and money laundering.

• November 2021 - DoorDash Inc., DoorDash Inc said it's buying Finnish food-delivery startup Wolt Enterprises Oy for about USD 8 billion. The biggest meal-delivery service in the U.S. said it's buying Finnish food-delivery startup Wolt Enterprises Oy for about $8 billion as it seeks to stay ahead of rivals in the race to satisfy soaring demand for the fast delivery of everything from food to prescriptions and pet supplies.
• June 2021 - Uber has been pushing itself beyond ride-hailing and has seen strength in its Uber Eats business due to the Covid-19 pandemic.

• August 2023 - PayPal announced the launch of stablecoin digital currency, which will be backed by US dollars and used for transactions on its global online payments platform. The stablecoin, known as PayPal USD, will be issued by Paxos Trust Co. and will be backed by US dollar deposits and short-term US Treasuries.
• September 2023 - PayPal introduces Web3 Payment On and Off Ramps. With this launch, the company will connect their customers' ability to buy and sell supported cryptocurrency in the United States to the PayPal On and Off Ramps. It will assist web3 merchants in expanding their user base by connecting them to PayPal's quick and seamless payment experience.

• November 2023: ACI Worldwide and Mexipay have joined forces to encourage the adoption of real-time payments in Mexico. Through this partnership, Mexipay will utilize ACI's payment platform to offer ISO 20022 real-time payments and other payment services in Mexico. This collaboration will enable Mexipay to access smaller banks and merchants, delivering managed services to the market by implementing and operating our platform built around ACI's solutions.
• September 2023: Mexico's payment fintech, Clara, plans to expand its operations to Brazil following its successful acquisition of a central bank license. This strategic move is anticipated to greatly boost the company's growth, with Brazil expected to become its primary market in the near future. Clara, a renowned fintech in Mexico, specializes in offering corporate cards and expense management software to businesses throughout Latin America. It currently processes monthly transactions in Brazil amounting to approximately BRL 100 million, equivalent to nearly USD 20 million.

• March 2023: The South African Reserve Bank (SARB) has announced the launch of PayShap, a real-time rapid payment platform that aims to provide South Africans with safer, quicker, and noticeably more comfortable payment choices. BankservAfrica, the Payments Association of South Africa, and the South African banking community collaborated across industries to create PayShap to modernize the domestic payments business.
• February 2022: ACI Worldwide partnered with one of South Africa's leading financial services providers, Nedbank, to drive its digital transformation journey, including real-time payments. As part of the migration, Nedbank was expected to utilize ACI Low-Value Real-Time Payments, enabling the bank to offer real-time mobile payments to its customers.

• September 2023: Apple expanded its Tap to Pay feature across Brazil. It is a feature on the iPhone where a merchant can use an iPhone as a POS system that can be used for payments. A customer can then use their iPhone and pay with Apple Pay. The launch is a part of the company's aim to democratize access to advanced payment services and offer merchants the ability to accept payments quickly.
• July 2023: PagBrasil launched a mobile POS solution with real-time currency exchange. The mobile POS service allows the citizens of Brazil to pay for in-store purchases with Pix, benefiting from real-time currency exchange and lower transactional costs.

• April 2023: Getnet Restaurants, a joint venture between Getnet México and Pacto, has been established. The partnership between Getnet and Pacto provides a comprehensive, integrated point-of-sale (POS) solution, including automatic payment reconciliation and mobile ordering capabilities, utilizing Getnet's advanced smart bank terminal.
• May 2022: Toshiba unveiled mobile POS, flexible self-service solutions, and frictionless retail technologies at Eurocis 2022. Toshiba demonstrated how payment is made fast and securely on mobile devices or mPOS using pin-on-glass technology. In this technology, the PIN is entered directly through the surface of the smart device, such as a tablet or smartphone, instead of a devoted PIN entry device.

• May 2023: Axis Bank created a special " Sarathi " system that helps merchants set up electronic payment systems quickly and easily. With this system, merchants can use electronic devices to accept payments from customers. The system also checks important information and verifies it through live video. This makes the application process faster and easier, and merchants can use the payment system within 45 minutes.
• April 2022: Worldline introduced the LINURA LP 7220, one of the most powerful LINUX-based 4G POS terminals, with the highest security protocol, a Dual Core Cortex CPU, and 256MB RAM, to improve the in-store digital payment experience in India. This is an additional step to improve the in-store payment experience for both businesses and customers.