Today’s newsletter features an in-depth look at the success of Walmart Pay which is poised to overtake Apple Pay’s number of mobile payments users inside the giant retailer. The growth will surprise you and is a credit to Walmart’s strategic plan. Watch what happens when US consumers really start to use mobile payments in the near future.
Our second feature looks at India’s Paytm and how it’s responding to the huge growth in e-commerce and mobile payments. It’s executed a flawless strategy with the backing of strategic partners and investors that include China’s AliPay and Japan’s SoftBank.
The third feature in today’s newsletter is a roundup of global payments news. Profiled are an Amazon Cash-7-Eleven partnership, Facebook’s Messenger payments expansion into the UK and France, Alipay’s growth in Europe, and Canadian nanopay’s efforts to solve the fragmentation problem of cross-border payments for business.
This is the essential reading if you want to stay on top of the payments industry and trends.
Walmart’s mobile payments app is paying off for giant retailer
According to one industry analyst, Walmart Pay will surpass Apple Pay in active US mobile payments users by the end of 2018. Walmart Pay also incorporates in-store offers, promotions, rewards and gift-card balances all in one place, making it convenient for users. The corporate strategists at Walmart must be popping the champagne corks to celebrate the growing success of Walmart Pay as we enter the prime holiday shopping season. Via paymentsnext.com
Want to understand the future of mobile payments? Look at India’s Paytm
After India’s demonetization on November 8, 2016, founder Vijay Shekhar Sharma realized that Paytm would have to become more than just a simple mobile wallet. Just one year later, Paytm’s wallet users have grown from 120 million to more than 280 million and its valuation has grown by billions of dollars. One97 Communications, the holding company that started Paytm, has had a diversification strategy for a while and has executed it very well in a hyper-competitive marketplace. Via paymentsnext.com
Global payments news: Amazon Cash, 7-Eleven, Facebook, Alipay, Paytm, nanopay
Facebook launched its P2P payments service in the UK and France. PayPal impresses the markets with net revenue of $3.24 billion, a 21% increase built in part on strong mobile results. WorldPay’s Global Payments Report says the Asia Pacific e-commerce market will grow by 12% annually, and reach $2.1 trillion by 2021. That and much more this global payments news roundup. Via paymentsnext.com