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July 25, 2021

Transaction & Payment Services (TRBC level 5)

Exclusive: Brazilian payments network Elo picks banks for IPO – sources

Reuters
SAO PAULO (Reuters) – Brazilian payments firm Elo has chosen six banks to manage its initial public offering, four sources close to the matter said, in the first concrete sign it is proceeding with a move first proposed by shareholders in August. FILE PHOTO: A view of the exterior of......

Payments giant Stripe expands to Middle East with Dubai office

Reuters
FILE PHOTO: Stripe app logo is displayed in this illustration taken March 15, 2021. REUTERS/Dado Ruvic/Illustration DUBAI (Reuters) – Digital payments giant Stripe on Tuesday announced the opening of an office in United Arab Emirates financial capital Dubai, its first expansion into the Middle East region. Founded in 2010 by......

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......

How Germany considered rescuing Wirecard days before its doom

Reuters
By John O’Donnell, Tom Sims FRANKFURT (Reuters) – The German government examined the possibility of bailing out Wirecard just three days before it collapsed, according to documents seen by Reuters showing that officials were blindsided by the country’s biggest post-war fraud scandal. FILE PHOTO: The headquarters of Wirecard AG, an......

How Germany considered rescuing Wirecard days before its doom

Reuters
By John O’Donnell, Tom Sims FRANKFURT (Reuters) – The German government examined the possibility of bailing out Wirecard just three days before it collapsed, according to documents seen by Reuters showing that officials were blindsided by the country’s biggest post-war fraud scandal. FILE PHOTO: Wirecard’s former boss Markus Braun looks......

Ripple and MoneyGram to end partnership

Reuters
By Reuters Staff 1 Min Read March 8 (Reuters) – Blockchain payment firm Ripple said on Monday it will end its current partnership agreement with MoneyGram International Inc. (Reporting by Sohini Podder in Bengaluru; Editing by Shinjini Ganguli) Our Standards: The Thomson Reuters Trust Principles. Source – For more click......

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......

Klarna transactions value jumps amid ‘buy now, pay later’ boom

Reuters
STOCKHOLM (Reuters) – Swedish “buy now, pay later” company Klarna on Thursday reported a jump in transactions using its platform and in net operating income in 2020, helped by its expansion in the United States and other markets. FILE PHOTO: A smartphone displays a Klarna logo in this illustration taken......

UPDATE 1-Former Bank of England Governor Carney joins board of digital payments company Stripe

Reuters
(Updates with Carney’s statement) Feb 21 (Reuters) – Mark Carney, former head of the UK and Canadian central banks, has joined the board of U.S. digital payments company Stripe Inc, days after the company was reported to be planning a primary funding round valuing it at over $100 billion. “Regulated......

German lawmakers turn sights on finance ministers in Wirecard fraud fiasco

Reuters
By John O’Donnell, Tom Sims FRANKFURT (Reuters) – Fresh from toppling the head of Germany’s top financial regulator last week, lawmakers are turning their fire on finance minister Olaf Scholz and his deputy Joerg Kukies. FILE PHOTO: German Finance Minister Olaf Scholz attends a session at the lower house of......

PayPal becomes first foreign firm in China with full ownership of payments business

Reuters
SHANGHAI (Reuters) – PayPal Holding Inc has become the first foreign operator with 100% control of a payment platform in China, according to Chinese government data, as the U.S. fintech giant eyes a bigger foothold in a booming market for online payments. FILE PHOTO: The PayPal app logo is seen......

Analysis: Trump suspension to test Twitter CEO’s truce with investors

Reuters
(Reuters) – Twitter Inc’s decision to suspend President Donald Trump’s account will test a truce made last year between CEO Jack Dorsey and top shareholders of the social media company which allowed Dorsey to remain in the top job. FILE PHOTO: Twitter Chief Executive Officer Jack Dorsey testifies remotely during......

Breakingviews – 2020 hindsight: Our best-read stories of the year

Reuters
HONG KONG (Reuters Breakingviews) – As the world faced up to its annus horribilis, Breakingviews’ readers showed a voracious and varied appetite for agenda-setting financial insight. Sure, the Covid-19 virus was on everyone’s mind, but an analysis of the most-read stories of the year proved our readers are rarely myopic.......

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......

Breakingviews – Italian sovereign fund is a force to reckon with

Reuters
MILAN (Reuters Breakingviews) – When Cassa Depositi e Prestiti (CDP) was founded 170 years ago this week, Italy did not yet exist as a nation. The institution’s main task was to finance basic infrastructure like roads and waterworks for the King of Sardinia-Piedmont, Victor Emmanuel II, who later became Italy’s......

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