Morning Brief 10.14.20: Google invests in health care payments

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The information you need to start your day, from PaymentsSource and around the web:

Billing office

Google's venture arm, GV, has made a $16.5 million investment in Nym Health to fuel expansion of machine learning for hospital payments.

Nym's core product helps health care providers digitize documents such as charts and medical records, then link those documents to billing codes, reports TechCrunch. The firm uses language processing to match medical language to fees.

Israel-based Nym wants to expand in the U.S., where health care billing has been a problem for years due to inconsistent technology and changes in regulations, a problem the pandemic has made worse.

Compliance cloud

Stripe has allied with PCI Pal to add security protections for Stripe's merchant network, which is adding more non-digital merchants looking to move services online during the pandemic.

As the name implies, PCI Pal uses a cloud to remotely manage updates to PCI DSS rules, with PCI Pal contending organizations can execute online payments and other card-not-present transactions.

Stripe early in 2020 raised about $600 million to expand its range of services to cover more merchant functions beyond enabling digital payments.

Crypto pay

Samsung Pay has added U.S. support for Swipe Wallet, a digital currency wallet and card payment app, covering a market gap that left out the States.

The deal allows U.S. Swipe users to connect Visa cards to Samsung Pay, enabling conversions between different cryptocurrencies and between crypto and traditional currency, according to Cryptopolitan.

The cards can be used at any Visa merchant. Swipe earlier signed a similar deal with Google Pay in the U.S.

New corridors

Singapore fintech support firm Nium has partnered with South Korean remittance firm E9pay to support E0Pay's strategy to open new corridors to Europe, Indonesia, India and the U.S.

E9pay also wants to improve its ability to reach South Korean e-commerce merchants that are trying to reach consumers outside of the country.

These merchants often have a hard time reaching outside South Korea because of technology and processing differences in outside markets, contends e9pay.

From the web

Spendesk raises another $18 million for its corporate card and expense service
TECHCRUNCH | Tuesday, October 13, 2020
French startup Spendesk has added $18 million to its Series B round. The company already raised $38.4 million as part of its Series B last year, which means that it raised $56.4 million as part of this round. Eight Roads Ventures is investing in today’s extension round.

Some Chinese firms are unfazed by worsening U.S. relations. A fintech unicorn’s IPO is the latest proof
FORTUNE | Tuesday, October 13, 2020
Chinese financial technology firm Lufax last week filed for an initial public offering on the New York Stock Exchange in what could be the largest Chinese company IPO on a U.S. exchange so far this year.

Netflix drops its free trial promo in favor of other marketing approaches
ENGADGET | Tuesday, October 13, 2020
Instead of free trials, now Netflix has a website that offers free samples from its original TV shows and movies.

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