Financial Platform News
News and analysis coverage of financial platforms, ranging from payment processing and credit through to retail banking and investment services.
Tech firms sweeten deals for US banks cutting costs in crisis
Top technology services businesses are offering payment deferrals, discounts of up to 20% and other sweeteners to some US banks to keep their business as COVID-19 forces Wall Stree...
Singapore state investor Temasek joins Facebook’s Libra project
Singapore state investor Temasek Holdings has joined the Facebook-backed Libra digital currency project which has faced intense scrutiny from global regulators worried its launch c...
As pandemic rages, anything goes for bitcoin’s third ‘halving’
Bitcoin is about to undergo a scheduled technical adjustment as the number of new coins awarded to miner of the cryptocurrency will be cut in half, but forecasting which way its pr...
China’s Tencent buys 5% stake in Australian buy-now-pay-later business Afterpay
Chinese gaming and social media group Tencent Holdings has bought a 5% stake in Afterpay, the Australian buy-now-pay-later firm has said.
Wirecard shares crash 26% after critical KPMG audit
An independent investigation by auditor KPMG into Wirecard found on Tuesday the German payments company did not provide sufficient documentation to address all allegations of accou...
Payments service provider Checkout.com to join Facebook’s Libra Association
Global payment processor Checkout.com said on Tuesday it would join Libra Association, the entity managing the Facebook-led effort to build global digital currency Libra.
Ripple sues YouTube over cryptocurrency scams
Blockchain business Ripple has sued YouTube, alleging the video-sharing platform failed to protect consumers from cryptocurrency “giveaway” scams that use fake social m...
Facebook invests $5.7 billion in Reliance unit to reach small Indian grocers
Facebook will spend $5.7 billion for 10% of Reliance Industries’s digital business, as the social media firm looks to leverage its popular WhatsApp messenger to offer digital...
Facebook and three Indonesian firms in early talks for mobile payment approval – regulator
Three Indonesian FinTech firms are working with Facebook to apply for regulatory approval to launch mobile payments in the country, an official at the financial regulator has said....
Stripe Inc raises $600 million
US-based FinTech, Stripe Inc has announced that it has raised some $600 million, as companies that provide the online infrastructure for financial services get a boost from the ong...
Facebook’s Libra cryptocurrency gets revamp in response to backlash
Facebook’s planned cryptocurrency Libra will be linked to individual national currencies and overseen by global watchdogs in a scaled-back revamp it hopes will win regulatory...
Stay off Zoom and Google Hangouts, Standard Chartered CEO tells staff
Standard Chartered is the first major global bank to tell employees not to use Zoom during the coronavirus pandemic due to cybersecurity concerns, according to a memo seen by news ...
G20 sets ground rules ahead of Facebook’s Libra stablecoin
The world’s leading economies need to plug gaps in their rulebooks to avoid digital currencies like Facebook’s planned Libra stablecoin from undermining financial stabi...
Telecoms shares are losers as lockdown drives dot-com boom
As global lockdowns drive increase internet usage and boosting sales for dot-com businesses as varied as gaming and food delivery, the stocks of internet and telecoms service provi...