In today’s top payments news around the world, Gojek has reportedly raised $300 million in investment funds, while Elm is reportedly looking at an approximately $2 billion initial public offering (IPO). Plus, Munich Airport launched PayPal QR Code for mobile, cashless purchases.
Gojek Gains $300 Million In Funding As It Moves Toward Big Merger
Gojek has reportedly landed $300 million in investment funds from state-owned mobile operator Telkomsel as it negotiates a merger arrangement with Tokopedia. Gojek Group Co-CEO Andre Soelistyo said per a published report that the Telkomsel infusion “will strengthen the collaboration between the two companies, enabling both of us to leverage our technological resources and expertise to bring the benefits of the digital economy to consumers, driver partners and small businesses across Indonesia.”
Saudi Security Firm Elm Looks At $2 Billion IPO
Elm, the digital security company owned by Saudi Arabia’s sovereign wealth fund, is reportedly eyeing an approximately $2 billion initial public offering. Elm reportedly hired Riyad Capital to advise on the offering. Elm reportedly hopes to sell shares on the Saudi Stock Exchange by next year. The public offering could find Saudi Arabia’s Public Investment Fund, or PIF, selling up to a 30 percent share, although deliberations are continuing.
PayPal QR Codes Score First Airport Landing In Munich
Munich Airport rolled out PayPal QR Code for mobile, cashless purchases. Shoppers wishing to pay can open the quick-response (QR) code in the PayPal app and display it during the checkout process. “The pandemic accelerated the demand for touch-free payment options. With our new integrated QR code solution, we are offering an ideal answer to this demand, especially for large enterprises and retail chains,” Jörg Kablitz, managing director for PayPal Germany, Austria and Switzerland said, as per a published report.
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