4.9.19 Your morning briefing
9 April 2019 6:03 AM GMT
The information you need to start your day, from PaymentsSource and around the Web. Today: Paytm adds staff for offline initiative; Standard Chartered opens an innovation hub in Kenya; Santander bolsters payment security; PhonePe chases fanstasy cricket payments.
- The Paym Mall is expanding its online to offline consumer business, and plans to hire about 300 people over the next few weeks to support the growth.
- The Indian payment company's O2O business has grown 200% over the past six months, reports the Fashion Network in India, adding the new hires will be in technology and business development.
- Paytm has been using physical retail to boost its online mall for more than a year, a strategy similar to Alibaba, which is one of Paytm's backers.
- Kenyan innovation Standard Chartered Bank has opened an innovation hub in Kenya to collaborate with fintechs, mobile payment companies and other developers in the region, another signal that traditional financial institutions are seeking opportunities to work with technology companies rather than take a traditionally competitive stance .
- As Amazon experiments in retail models that remove cash and plastic cards in favor of online and mobile payments, traditional retailers may have an ace up their sleeve: the gift card.
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