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Today In Payments Around The World: Stripe Leads PayMongo's $12M Funding Round; ALDI To Pilot Digital Ordering At British Stores

Stripe Leads PayMongo's $12M Funding Round

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.”

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NEW PYMNTS DATA: HOW WE SHOP – SEPTEMBER 2020 

The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

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