Financial Platform News

News and analysis coverage of financial platforms, ranging from payment processing and credit through to retail banking and investment services.

ByteDance

ByteDance launches Douyin Pay, its mobile payment service for China

ByteDance has launched its third party payment support for its Chinese version of its hit brief video app TikTok,”Douyin Pay”, as it presses to enlarge in the e-commerc...

WhatsApp

Reliance to embed e-commerce app into WhatsApp within six months: Mint

Reliance Industries plans to market its e commerce app JioMart into WhatsApp within six months, financial website Mint has reported, as the Indian conglomerate looks to ramp up its...

Grab

Grab raises $300 million for FinTech arm’s ambitious expansion

Southeast Asian ride-hailing and food delivery giant Grab has raised over $300 million from investors headed by South Korea’s Hanwha Asset Management for its rapidly-expandin...

UK

London resilient at top of European tech investment table despite COVID

London retained its position as the top European destination for tech venture capital in 2020, with levels near the record sum of the year before despite the impact of COVID-19, ac...

Reserve Bank of India

India’s reserve bank creates a panel to investigate digital lending practices

The Reserve Bank of India has said it had formed a working group to look into digital lending practices, after reports of policy offenses and debtor harassment by several digital l...

Paytm

PayTM says could turn profitable in 2021

Indian FinTech PayTM can turn profitable soon, as the ongoing COVID-19 crisis has fuelled a spike in the use of its payment platforms, the company’s CEO and founder told atte...

PayPal

PayPal blocks crowdfunding site GiveSendGo due to Capitol violence

PayPal has said it had blocked a Christian crowdfunding website, GiveSendGo, after it helped raise funds for those that attended last week’s event when supporters of Presiden...

Bitcoin

Bitcoin falls 19% to face biggest one-day drop since March

Bitcoin dropped more than 19% to a one-week low on Monday, putting the cryptocurrency on course for its greatest one-way drop as March as its recent red-hot rally hit the buffers.

Ant Group

China to push its tech giants to share consumer credit data

China intends to push tech giants including Ant Group, Tencent and JD.com to share consumer loan data to prevent excess fraud and borrowing, two individuals with knowledge of the i...

Google

Some lending apps thrive on India’s Google Play despite policy violations

At least ten Indian lending apps on Google’s Play Store, which have been downloaded tens of thousands of times, breached Google guidelines on loan repayment spans aimed at pr...

Google

UK’s competition watchdog to probe Google’s browser changes

The UK’s competition watchdog said on Friday it has launched an investigation to Google’s suggestions to get rid of third-party cookies and other functions from the Chr...

Tech Titans

USTR slams India, Italy, Turkey on digital taxes but holds off on tariffs

Digital services taxation adopted by India, Italy and Turkey discriminate against US businesses and therefore are inconsistent with international tax rules, the US Trade Representa...

President Donald J Trump

Trump signs order banning transactions with eight Chinese apps including Alipay

President Trump has signed an executive order prohibiting trades with eight Chinese software applications, such as Ant Group’s Alipay, ” the White House stated, escalat...

Bitcoin

Bitcoin emergence as ‘digital gold’ could lift price to $146,000, says JPM

Digital currency bitcoin has emerged as a rival into gold and could trade as large as $146,000 if it becomes established as a safe-haven asset, investment bank JPMorgan (JPM) has s...