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September 17, 2021

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China steps up tech scrutiny with rules over unfair competition, critical data

Reuters
SHANGHAI (Reuters) -China moved on Tuesday to tighten control of its technology sector, publishing detailed rules aimed at tackling unfair competition and companies’ handling of critical data. Beijing has been firming its grip on internet platforms in recent months, citing the risk of abusing market power to stifle competition, misuse......

Mastercard to invest $100 million in Airtel Africa’s mobile money unit

Reuters
FILE PHOTO: Mastercard Inc. credit cards are displayed in this picture illustration taken December 8, 2017. REUTERS/Benoit Tessier/Illustration (Reuters) – Mastercard Inc will invest $100 million in Airtel Africa’s mobile money operations valuing the business at $2.65 billion, the London-listed company said on Thursday. Mastercard will hold a minority stake......

Facebook messaging service gets delayed Brazil nod for payments

Reuters
FILE PHOTO: A logo of WhatsApp is pictured on a T-shirt worn by a WhatsApp-Reliance Jio representative during a drive by the two companies to educate users, on the outskirts of Kolkata, India, October 9, 2018. REUTERS/Rupak De Chowdhuri SAO PAULO (Reuters) – Brazil’s central bank on Tuesday cleared the......

Exclusive: PayPal launches crypto checkout service

Reuters
LONDON (Reuters) – PayPal Holdings Inc will announce later on Tuesday that it has started allowing U.S. consumers to use their cryptocurrency holdings to pay at millions of its online merchants globally, a move that could significantly boost use of digital assets in everyday commerce. Customers who hold bitcoin, ether,......

Mastercard battles to limit scope of $19 billion UK class action

Reuters
LONDON (Reuters) -Mastercard, a global payment processor, is battling attempts to add about 14 million deceased people to a 14 billion pound-plus ($19.3 billion) British class action in an effort to limit the scope of the historic case. FILE PHOTO: Mastercard Inc. credit cards are displayed in this picture illustration......

Australia’s biggest lender to take on Afterpay, PayPal in buy now, pay later race

Reuters
(Reuters) – Commonwealth Bank of Australia on Wednesday became the first major lender in the country to offer its own “buy now, pay later” (BNPL) service, taking on U.S. payments giant PayPal and Afterpay with the promise of lower fees. FILE PHOTO: An office building with Commonwealth Bank logo is......

Mastercard to delay card fee hikes until April next year

Reuters
FILE PHOTO: A Mastercard logo is seen on a credit card in this picture illustration August 30, 2017. REUTERS/Thomas White (Reuters) – Mastercard Inc has postponed plans for changes in interchange fee until April next year, the payments processor said in an emailed statement on Tuesday. Interchange fee is the......

Britain raises contactless limit as COVID accelerates electronic payments

Reuters
LONDON (Reuters) – Britain is more than doubling to 100 pounds the limit on contactless payments made with debit or credit cards, the finance ministry said on Wednesday, as COVID-19 accelerates a shift to electronic payments from cash. The finance ministry said that while legally in force from Wednesday, the......

Time to “reimagine” travel industry, UK’s Prince Harry says

Reuters
FILE PHOTO: Britain’s Prince Harry speaks during the annual Endeavour Fund Awards at Mansion House in London, Britain March 5, 2020. Paul Edwards/Pool via REUTERS LONDON (Reuters) – Britain’s Prince Harry has urged the travel industry to “reset and reimagine” its future after the crisis caused by COVID-19 pandemic, with......

Visa profit falls as pandemic crimps travel spending

Reuters
FILE PHOTO: Visa credit cards are seen in this picture illustration taken June 9, 2016. REUTERS/Maxim Zmeyev/Illustration (Reuters) – Visa Inc reported a 4% fall in quarterly profit on Thursday, hurt by lower cross-border spending volumes as the COVID-19 pandemic hammered the global travel industry. Net income fell to $3.13......

Visa temporarily suspends all political donations

Reuters
FILE PHOTO: A Visa credit card is seen on a computer keyboard in this picture illustration taken September 6, 2017. REUTERS/Philippe Wojazer/Illustration (Reuters) – Visa Inc said on Tuesday its political action committee had temporarily suspended all donations last week as it reviews its candidate contribution guidelines. A host of......

Visa, Plaid call off $5.3 billion deal

Reuters
FILE PHOTO: A Visa credit card is seen on a computer keyboard in this picture illustration taken September 6, 2017. REUTERS/Philippe Wojazer/Illustration (Reuters) – Visa and financial technology company Plaid said on Tuesday that they would terminate their $5.3 billion merger agreement following a U.S. government lawsuit aimed at stopping......

Visa temporarily suspends all political donations

Reuters
FILE PHOTO: A Visa credit card is seen on a computer keyboard in this picture illustration taken September 6, 2017. REUTERS/Philippe Wojazer/Illustration (Reuters) – Visa Inc said on Tuesday its political action committee had temporarily suspended all donations last week as it reviews its candidate contribution guidelines. A host of......

US STOCKS-Wall Street ends up on recovery expectation

Reuters
* Energy, materials rise * Britain OK’s emergency use of AstraZeneca COVID-19 vaccine * Mastercard jumps on Stephens PT raise (Updates to market close) NEW YORK, Dec 30 (Reuters) – U.S. stocks closed higher on Wednesday as investors looked towards an improving economic outlook in 2021 on the back of......

China financial regulators urges Ant Group to set ‘rectification’ plan swiftly

Reuters
BEIJING (Reuters) – China’s financial regulators urged Ant Group on Sunday to outline a concrete plan as soon as possible to meet regulatory demands and fully understand the seriousness of the “rectification” work it needs to perform. A sign of Ant Group is seen during the World Internet Conference (WIC)......

Breakingviews – Grab CEO will step into 2021’s tech limelight

Reuters
HONG KONG (Reuters Breakingviews) – Anthony Tan will cement his star status in the year ahead. The chief executive and co-founder of Grab has deftly steered the $15 billion Southeast Asian all-in-one app through economic turmoil. Even as lockdowns pummelled the company’s main ride-hailing business, the pain has been largely......

Breakingviews – Grab CEO will step into 2021’s tech limelight

Reuters
Grab’s CEO Anthony Tan speaks during Grab’s fifth anniversary news conference in Singapore June 6, 2017. REUTERS/Edgar Su HONG KONG (Reuters Breakingviews) – Anthony Tan will cement his star status in the year ahead. The chief executive and co-founder of Grab has deftly steered the $15 billion Southeast Asian all-in-one......

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