Global Payments

Fortumo Rolls Out Direct Carrier Billing In Sweden; MySQUAR Launches Remittance Service

The Axis

Welcome to The Axis, your late look at payments news from around the world. Coverage includes Fortumo’s rollout of direct carrier billing in Sweden. In addition, Australia Post is deploying a multilane payment solution from Verifone, and MySQUAR has rolled out a soft-launch of a remittance service.

Estonia-based tech firm Fortumo unveiled direct carrier billing and SMS messaging in Sweden, the company said in an announcement. With the launch, subscribers of Telia, Tele2, Telenor and Tre can make payments by charging purchases to their cell phone accounts. The payments platform is designed to enable payments for app stores, games and streaming services, among other use cases.

“In highly saturated and competitive markets like Sweden, digital merchants need every edge they can get over their competition,” Fortumo CEO and Co-founder Martin Koppel said in the announcement. “From a payments perspective, carrier billing provides this advantage, as it simplifies user onboarding and boosts conversion compared to traditional payment methods.”

Myanmar-based MySQUAR has rolled out a cross-border remittance service in a soft launch for its mobile money platform, Proactive Investors reported. The service allows money to be exchanged between Myanmar and Singapore. Customers can use their digital wallets to store and spend funds or withdraw them from post offices and banks. The idea behind the service is to allow people to send funds in a secure manner that is less expensive than other options.

“The existing cross-border remittance options from Singapore to Myanmar are either expensive, ranging from 10-15 percent of the transfer amount through formal channels, or carry higher risk through cheaper informal channels,” MySQUAR Chief Executive Eric Schaer told the outlet. “We have redefined the Singapore-Myanmar remittance corridor by offering a service that combines convenience and low cost through a licensed and fully compliant channel.”

In other news, Australia Post is implementing Verifone’s multi-lane payment solution that allows consumers to make payments with mobile devices and wearables, in the first case of a nationwide deployment of the service, Verifone said in an announcement. In addition, Australia Post customers will have the ability to sign for goods and services, such as parcels, electronically.

“We are delighted with the first countrywide deployment of M400,” Yiannos Papadopoulos, president of APAC at Verifone, said in the announcement. “Verifone is committed to providing Australia Post with innovative products and services. As they expand, our solutions will support them in improving business operations, delivering unique consumer experiences, differentiating their brand and growing their business.”

——————————

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.

TRENDING RIGHT NOW