It’s one of the downsides of apps that make things like ordering food or buying stocks and cryptocurrencies easier: What happens when something goes wrong? It’s often a frustrating chase, tapping through menu after menu in hopes of reaching a person to fix the problem. It’s also something that upstart companies upending the investment and […]
FinTech
Google’s plans of extending its horizon into financial services in collaboration with the banking sector have reached an end as the search engine kills off its Plex service before the initial launch, The Wall Street Journal reports. The Mountain View company stunned its users with news of halting the development of its banking service as […]
Multinational credit card company Mastercard announced on Monday a new collaboration with the Digital Transformation Agency (DTA) as it implements plans to create digital identities and age verification system, a move that will manifest the company as a leading digital identity service provider in Australia. The Trusted Digital Identity Framework (TDIF) will be a unison […]
China’s central bank will soon have access to the private credit information of hundreds of millions of users of Ant Group’s online credit service, in a move signaling more regulatory oversight of the financial technology sector. Huabei, Ant Group’s credit service, said in a statement that consumer credit data it has collected will be included […]
Amidst Beijing’s latest regulatory wave to impose dominion on its tech sector, China’s Big Tech shares drastically dropped on Monday as the country’s watchdogs intend to break down Ant Group Co.’s Alipay, at a speed the U.S. and the European Union cannot fathom or dare to indulge in. Following a Financial Times report stating that Beijing is […]
Robinhood revealed on Wednesday its latest feature allowing users to invest in the cryptocurrency market customarily and regularly for just one U.S. dollar without any additional fees in a bid to augment the company’s fast-growing parts. The trading company announced that the reason behind releasing this feature is to provide a secure way to minimize […]
South Korea’s National Assembly approved legislation on Tuesday that bans app store operators such as Google and Apple from forcing developers to use their in-app payment systems. South Korea is reportedly the first country in the world to pass such a bill, which becomes law when it is signed by the president, whose party has […]
PayPal will reportedly host stock-trading on its platform for U.S. customers, as the American financial tech company welcomed a brokerage industry veteran to manage the new feature, cited by CNBC. Rich Hagen, the co-founder and former president of brokerage Ally Invest, is now Paypal’s chief executive officer of an undisclosed department called “Invest,” according to his LinkedIn profile. Hagen’s current job description showcases that the San Jose, California-based company is working on “exploring opportunities” in the consumer investment […]
Global transaction value of instant payments is expected to surpass $27.7 trillion in 2026, from just $4.8 trillion in 2021, according to a new report published on Tuesday. The report was published by U.K.- based Juniper Research, an analyst house specializing in digital technology market research, revealed that the growth percentage will amount 470 percent. […]
Mastercard announced on Thursday its plans to halt the issuance of cards with a magnetic strip by 2033. The global financial firm will have strip-less debt and credit cards in Europe starting from 2024, and across the globe by 2033, Mastercard declared in a statement. The company claimed that it will be the first payments network to phase out the technology, which dates to the 1960s. “Magnetic strip is reaching its expiration date with […]