Today in the connected economy, Massmart enhances eCommerce offerings in South Africa thanks to a partnership with Mastercard, and Nepal becomes the first country outside India to utilize its UPI system. Also, the travel industry is among the latest to embrace buy now, pay later (BNPL) installments.
Massmart Ramps Up eCommerce Capabilities With Mastercard Collaboration
Mastercard recently partnered with retail group Massmart to help small, medium-sized and micro-enterprises (SMMEs) in South Africa find digital commerce solutions.
The collaboration, which launched late in 2021, allows SMMEs to buy an electronic Point of Sale (POS) or Mobile POS device at a discount from any Massmart retail outlet across in the region, including Game, Makro and Builders Warehouse stores.
Almost two-thirds (64%) of South Africans say they have reduced or completely eliminated their use of cash since the COVID-19 pandemic began. More than half (57%) of South African consumers say they would avoid businesses that do not accept electronic payments.
Parking Operators Deploy Digital Tools, Education to Combat QR Code Fraud
QR code-initiated payments have become a target of scammers, who will often place a sticker with their own QR code over a legitimate QR code so they can receive payments from unsuspecting consumers.
To combat this growing problem, parking management system supplier FLASH has added a QR Code Verifier to its app and has been getting the word out to parking operators and consumers about how they can avoid QR code fraud while using this payment method.
The QR Code Verifier enables parking operators and consumers to scan a QR code to see if it would take them to a legitimate URL used to pay for parking. If the tool finds that the QR code leads to an unknown URL, the user can tap a button to report it to FLASH, who will send someone to inspect it.
Flying the Friendly Skies One Installment Payment at a Time
Buy now, pay later (BNPL) options are finding wide berth across any number of verticals, including the travel industry, where Delta Air Lines will offer BNPL to its travelers as a payment option for tickets that cost more than $100.
The BNPL feature, available to American Express cardholders in the United States, will tap American Express’ Plan It options. The feature will be folded into the Fly Delta app beginning this spring. Consumers can divide the purchases into equal monthly installments with a fixed fee.
American Airlines recently announced an agreement with Affirm to offer installment payments, and BNPL solution Uplift said earlier this year it is expanding an in-place partnership with Southwest Airlines to offer payment options for travel to Hawaii.
Trax, Raistone Team on Invoice Payment Extensions
Transportation spend management company Trax Technologies and FinTech Raistone Capital have teamed up to offer what the companies called “a joint solution designed to create improved cash flow for carriers and extended working capital for shippers,” according to a press release Friday (Feb. 18).
The deal gives Trax customers access to terms that let them pay invoices 150 days after the dates sought on invoices. Trax will make the payment to cover the gap, the release stated. Trax uses cloud-based technology to manage supply chains to customers in North America, Latin America, Asia and Europe.
Nepal Transforming Digital Economy Through Use of India’s UPI Payments System
Nepal is the first country outside India itself to utilize India’s unified payments interface (UPI) system, a key step in transforming Nepal’s digital economy, according to a report Friday (Feb. 18) on India.com.
The move became official when the National Payments Corporation of India (NPCI) teamed with payment system operator Gateway Payments Service (GPS) and Manam Infotech on the service. Nepal’s use of India’s UPI will enhance real-time person-to-person and person-to-merchant transactions across the country, said NPCI in its statement.
The move allows so-called last mile consumers in Nepal to access an open, interoperable payments system that processes immediate payment transfers between bank accounts and merchant payments in real time, according to the report. It will also facilitate real-time, cross-border P2P remittances between Nepal and India, NPCI said.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More