Financial Platform News
News and analysis coverage of financial platforms, ranging from payment processing and credit through to retail banking and investment services.
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...
Dorsey pledges $1 billion of his Square Inc shareholding for relief efforts
Twitter Inc and Square Inc CEO Jack Dorsey on Tuesday pledged a cool $1 billion of his shareholding in Square, the payments processor that he co-founded and heads up, in order to h...
SoFi to acquire Galileo Financial Technologies for $1.2 billion
The online student lender Social Finance has agreed to acquire payments technology provider Galileo Financial Technologies for $1.2 billion in cash and stock, the companies said on...
Mastercard’s Scandinavian e-pay deal in EU antitrust crosshairs
Antitrust regulators from the European Union have said Mastercard Inc’s plan to buy part of Scandinavian payments group Nets is a significant threat to the competitive landsc...
UK-based fintech Revolut launches banking app in US
British fintech firm Revolut Ltd on Tuesday launched its banking app and debit cards for customers in the United States as it seeks to expand beyond its base in the UK and Europe.Â
Crypto-market infrastructure creaks amid volatility test
As worries over the economic hit from the coronavirus outbreak spread from stocks, oil and bonds to cryptocurrencies late last week, bitcoin crashed to its worst day in seven years...
SoftBank’s founder ends Twitter absence over coronavirus worries
SoftBank founder Masayoshi Son may not be the most prolific Twitter user, but he has ended a three-year absence on the platform to express concern about the coronavirus outbreak, t...
Startups race to tap Indonesian growth by aligning with Islam
JAKARTA (Reuters) – Like millions of other Indonesians, Gandi Iswara had for years carried a wad of currency notes for dropping into donation boxes after prayers at mosques i...
Update: Razer and Ant Financial apply for a digital banking licenses in Singapore
California-based gaming business Razer Inc has stated that it is leading a consortium of companies that has applied for a online bank license in Singapore, thus joining the race to...
Accenture beats quarterly estimates
Reuters – Accenture Plc beat Wall Street estimates for first-quarter earnings on Thursday, as investments in its fast-growing digital and cloud services businesses continue t...
Finance’s final frontier? British watchdog probes data sharing
LONDON (Reuters) – Britain’s Financial Conduct Authority (FCA) is investigating whether sharing data with outside competitors could be extended beyond banks to savings,...
Swedish FinTech company Klarna to enter Australia and other markets next year
BERLIN (Reuters) – Swedish financial technology company Klarna plans to launch in Australia and other markets in 2020 after a strong start for its ‘buy now, pay later&#...
PayPal to buy rewards platform Honey Science for $4 billion
Reuters – Payment processor PayPal said on Wednesday it would buy privately held shopping and rewards platform Honey Science Corp for about $4 billion (£3.10 billion).