Today In Payments Around The World: Grab Rolls Out Fund To Help Partners; UK Card Spending Reached 88 Pct Of Pre-Pandemic Level

In today’s top payments news around the world, Grab is rolling out the GrabForGood Fund, while the International Air Transport Association (IATA) reported that the trend of low air passenger traffic continued in February. Plus, Visa has processed 1 billion additional contactless payments in Europe after the transaction limit was increased in countries on the continent.

Grab Launches $275 Million Fund To Help Community Partners

Singapore tech platform Grab is launching the GrabForGood Fund to help its drivers, retailers and delivery partners. Grab Group CEO and Co-Founder Anthony Tan said in an announcement that the upstart has been steadfast in its aim of “creating economic empowerment” throughout the Southeast Asian region since its founding nearly a decade ago. The total initial fund size is anticipated to be $275 million.

UK Card Spending Continues Recovery

Spending through the use of credit cards and debit cards in Great Britain has reached 88 percent of its pre-COVID-19 level — its highest point as of Christmas, according to the government’s central statistics office. The British government’s statistical report also displayed a rise in the proportion of companies that are “currently trading.”

Visa Completes 1 Billion Contactless Payments Since Europe Increased Limits

Visa has processed 1 billion further contactless payments in Europe after the transaction cap was increased in nations throughout the region a year ago. “The demand for touch-free payments indicates that contactless has become the norm for European consumers and retailers,” Charlotte Hogg, CEO of Visa’s Europe operations, said in an announcement.

IATA Says International Air Traffic Plunged 89 Pct In February

The IATA reported that the trend of low passenger traffic in the air continued in February. The overall demand for travel by air was down 74.7 percent in contrast to February 2019, which was the point of comparison because the pandemic skewed the numbers last year. International passenger demand in February was 88.7 percent below that of two years before.

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