Why did Binance invest in Twitter?
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Binance has joined 17 other investors to finance Elon Musk’s planned takeover of Twitter. The crypto exchange has pledged $500M to the effort.
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Fintech News Stories
Apple’s EV program is also about payments
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The computing giant has officially hired Desi Ujkashevic, Global Direct of Safety Engineering at Ford, to join Apple’s efforts to develop a fully electric autonomous car. Ujkashevic had worked at Ford for 31 years.
Read MoreHow can Stripe shape shipping?
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Global shipping giant Maersk announced that it’s partnered with Stripe to overhaul its payments infrastructure. Stripe tailored its products to accommodate Maersk’s multinational compliance requirements.
Read MorePayPal helped initiate EU rulings against Apple payments
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PayPal was one of several companies that made an informal complaint to the European Commission about restricted access to Apple’s NFC technology for payments. On Monday, the Commission released its preliminary findings, which suggest that Apple unfairly prevents competitors from using NFC payments tech on Apple devices.
Read MoreWill the EU kill Apple’s fintech plans?
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This morning, the European Commission released the initial findings of an antitrust case surrounding Apple Pay and third-party access to NFC technology on Apple hardware. The Commission has concluded that Apple unfairly prevents competitors from using NFC payments tech on Apple devices.
Read MoreWhatsApp doubles down on P2P payments in India
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The Meta-owned messaging platform said it will offer cashback rewards for Indian consumers who make peer-to-peer payments on the app. It will also look into similar rewards for merchant payments.
Read MoreEBA, SWIFT, TCH launch cross-border program
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EBA CLEARING, SWIFT, and The Clearing House (TCH) announced this morning that they will launch a pilot program for immediate cross-border (IXB) payments. The pilot would support payments in dollars and euros.
Read MoreLeaks suggest Apple Cash switching to Visa
/According to Mac Rumors, Apple is now opening new Apple Cash virtual debit cards with Visa. Apple Cash has historically partnered with Green Dot Bank and operated on the Discover network.
Read MorePayday dispute resolutions moved online. Chaos ensued.
/Analysis by The Markup, a data-driven newsroom covering Big Tech, suggests Utah’s decision to move payday disputes to online courtrooms has increased default judgments against defendants. Defaulting on these loans can lead to garnished wages and a lower credit score.
Read MoreBoosting its SWIFT alternative, Russia keeps members under wraps
/In a speech to the country’s legislators, Bank of Russia Governor Elvira Nabiullina announced that members of Russia’s alternative to SWIFT, the international payments network, would be kept anonymous. She said 52 institutions from 12 countries currently participate in the network.
Read MoreWill the public accept biometric payments?
/Amazon announced that it had added Amazon One—which lets customers pay with their palm print—to the checkout process at a Whole Foods store in Austin, Texas. It’s one of the first Amazon-owned stores outside Seattle to have the feature.
Read MoreMastercard links bonuses to ESG goals
/In a memo to staff, Mastercard CEO Michael Miebach said all employees’ compensation would be tied to the company’s ESG goals. This had previously only been the case for Mastercard executives.
Read MoreWhat’s next for SMB payments?
/This morning, Fyle, an India-based expense-management platform serving US businesses, announced that it launched a real-time spend-management integration for all Visa cards. Fyle said it would roll out similar integrations with other card issuers at an unspecified date.
Read MoreHow can crypto affect the future of taxes?
/Adam Willems, Lead Reporter for The Financial Revolutionist, wrote about the future of taxes for WIRED. Looking at crypto’s efforts to tokenize city taxes, Adam argues that crypto is trying to turn taxes into another investment vehicle.
Read MoreMeta’s metaverse fees elicit creator scrutiny
/Meta, Facebook’s parent group, announced that it’s rolled out payments products on its metaverse platform Horizon Worlds. Combined, its various sales fees could lead to Meta taking up to 47.5% of creator profits.
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