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