In today’s top payments news around the world, United Kingdom-based food delivery platform HungryPanda has landed $70 million in funding, while Sweden-based Klarna is launching the live fashion show “Lifestyle” with the help of technology from Bambuser. Plus, the United Kingdom government is making a new Digital Markets Unit to enforce regulations that apply to Big Tech.
After consuming $20 million in venture funding earlier in 2020, HungryPanda loaded up with an additional $70 million. The company, which is headquartered in London, is a digital food delivery platform that serves the restaurant business. It runs in 47 cities throughout Canada, Australia, New Zealand, France, the U.S. and the U.K.
Klarna, which is based in Sweden, is rolling out the live fashion show “Lifestyle” with the assistance of technology from Bambuser. Shoppers can now open up Bambuser’s Live Video Shopping from inside of the Klarna mobile program. Klarna said the move was part of its effort to move from being only a provider of payments to handling “the entire shopping experience.”
The government of the United Kingdom is creating a new Digital Markets Unit assigned to enforce regulations that apply to Big Tech firms. Its new division will fall under the Competition and Markets Authority (CMA), the organization that supervises the enforcement of antitrust rules. Digital business added 150 billion pounds (approximately $200 billion) to the British economy in 2018, according to the British government.
Lenders in Singapore that are not banks will be provided access to the nation’s digital payment systems PayNow and FAST in the near future, according to a statement from the Monetary Authority of Singapore (MAS). PayNow and FAST let individuals move money between banks and eWallets. Most eWallets can only be funded with a debit card or credit card.
Read More On Payments:
- BNPL Payments Provider Klarna To Offer Live Fashion Show
- Mastercard Intros Mobilized Virtual Cards; Defines Intersection Between Functionality And Security
- Merchants Get Clarity Around Compliance As Global Payment Regulations Evolve
- Mapping Out Merchants’ Maneuvers For 2021