In today’s top payments news around the world, digital Filipino payments platform PayMongo has come off a funding round with $12 million, while ALDI is taking another big step in the world of online shopping. Plus, a London judge has reinstated Uber Technologies Inc.’s license to operate.
Stripe Heads Up $12M Funding Round For Payments Processing Startup PayMongo
PayMongo has come off a funding round of $12 million. Stripe headed up the round, while current investors Global Founders Capital and Y Combinator participated with new investor Bedrock Capital. PayMongo intends to harness the new funding to accelerate the introduction of new functionalities and products in addition to continuing to build its design, product and engineering workforces.
ALDI To Test Online Grocery Ordering At UK Stores
ALDI is taking another large step into the world of online shopping as COVID-19 reshapes the retail landscape globally. Following an experimental effort at one British store, ALDI said it intends to grow its “click-and-collect” eCommerce grocery pickup offering to 15 stores throughout the nation. ALDI has also experimenting with providing digital ordering and pickup during COVID-19 for a limited selection of products via Deliveroo at some London locations.
London Judge Reinstates Uber License
A judge in London reinstated the license of Uber Technologies Inc. to run, concluding a 10-month battle between regulators and the ridesharing firm. Uber first lost its license in 2017 when city transportation regulator Transport for London (TfL) accused the firm of regulatory and safety shortcomings. Uber denied the claims and was provided with two extensions as the firm improved the service. But TfL cited the firm again last autumn, ruling that it was not fit to hold a license, and halted the firm’s operations.
EU Businesses Could Face Historic Recession
Intrum's new European Payment Report illustrates a shaken European economy in which many businesses in the bloc are engaging in the necessary measures to get ready for a recession. Lessened revenues have crunched cash flows and put pressure on outgoing payments, with Intrum President and CEO Mikael Ericson noting that the effects of COVID-19 will continue to be “dramatic.”
