In the fall of 2021, the Seattle-based proptech abandoned its home-flipping blitz and laid off 2,000 employees. It’s now ramping up for another moonshot project: building a super app for real estate.
Read MoreThe 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 MoreGlobal 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 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 MoreThis 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 MoreThe 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 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 MoreOn Tuesday, Robinhood CEO Vlad Tenev announced that the online brokerage would lay off 9% of its 3,800-person full-time workforce. Shares dipped by more than 5% after news of the layoffs broke.
Read MoreAccording 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 MoreThis 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 MoreMeta, 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.
Read MoreAccording to a survey of 7100 teenagers by Piper Sandler, Apple Pay saw the most monthly users among teens than any other payments app. It beat out competitors like Venmo, Cash App, and PayPal in terms of market share among teenagers.
Read MoreThe PAVE report could drastically change how homes are bought and sold in the U.S. and address a long history of discrimination against minority homeowners—especially if PAVE’s recommendations are codified into law. That’s a big if when Congress has a hard time agreeing on, well, almost anything.
Read MoreInternal memos suggest Meta, which owns Facebook, has plans to add virtual coins, tokens, and lending to its apps. This includes “social” or “reputation” tokens that reward substantive contributions to Facebook groups.
Read MoreA multiyear plan would help the computing giant develop its own infrastructure for financial products. It would facilitate new approaches to payment processing, risk assessment for lending, fraud analysis, credit checks, and more.
Read MoreThe Financial Revolutionist is weekly newsletter and blog focused on the torrid pace of financial innovation. Today, thanks to the exponential rate of technological change, explosion in global trade and new regulations ushered in by the Great Financial Crisis, a new financial revolution is under way. In this battle, virtually every aspect of the greater financial services sector is subject to rigorous challenge. With the Financial Revolutionist, we are aspiring to create a boots-on-the-ground and highly opinionated assessment of important financial innovation developments in the past week.
