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Today In Payments Around The World: FreshBooks Acquires Facturama; Virgin Money Lands $44.7M From RBS Fund

Today In Payments Around The World: FreshBooks Acquires eInvoicing Firm Facturama

In today’s top payments news around the world, FreshBooks said it has acquired the Mexico-based eInvoicing firm Facturama, while Virgin Money said it landed the equivalent of $44.7 million from the U.K.’s Capability Innovation Fund. Plus, TikTok’s owner has asked that a federal judge temporarily put a stop to the Trump administration’s ban on the video-sharing app.

FreshBooks Buys Mexico-Based Digital Invoicing Firm Facturama

FreshBooks said it has bought Facturama, which helps upstarts, self-employed people and small companies have a better grasp on their finances through eInvoice supervision, reporting and “other organizational services.” Mexico has more than four million registered small firms and millions of microbusinesses. Nearly 25 percent of the workforce in the nation is self-employed.

Virgin Money Takes Big Haul in RBS Innovation Fund

Virgin Money said it has notched the equivalent of $44.7 million from Britain’s Capability Innovation Fund, which was made as part of the Alternative Remedies Package that Royal Bank of Scotland (RBS) funded as a condition of getting a government bailout following the worldwide financial crisis. The firm indicated that the money will assist in rolling out Virgin Money Business, which is set for a debut next year.

ByteDance Seeks Court Order Against Ban

The owner of TikTok has requested that a federal judge temporarily put a stop to the Trump administration’s prohibition on the video-sharing program. The deadline for TikTok to get its sale approved is coming up this weekend. If that doesn’t occur, it will encounter a de facto ban that President Donald Trump put into place on Aug. 6 through executive order.

Google, Fitbit Probe Deadline Reset to December in EU

Antitrust watchdogs in the EU want additional time to finish their probe into Google’s potential $2.1 billion purchase of California-based Fitbit Inc. The European Commission reportedly lengthened the deadline to Dec. 23. In August, the commission rolled out a full-scale antitrust review into the arrangement.

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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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