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Industry Keyword: FinTech

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Payments companies Wise, Remitly suspend money transfer businesses in Russia

Cross-border payments company Wise and remittance processor Remitly have suspended their money transfer services in Russia, following new sanctions over the weekend against the country in response to its invasion of Ukraine. A spokesperson for...

Apple to turn iPhones into payment terminals in FinTech push

Apple Inc is introducing a new feature that will allow businesses to accept credit card and digital payments with just a tap on their iPhones, bypassing hardware systems such as Block Inc's Square terminals. The...

PayPal gives downbeat earnings forecast, shares plunge

PayPal Holdings Inc has forecast first-quarter revenue and profit well below expectations, as it prepares to take a hit from eBay Inc's ongoing move to ditch its payments services, sending its shares down 17.4%. PayPal's...

Software group SAP to buy majority stake in US FinTech firm Taulia

SAP has said it has agreed to buy a majority stake in privately held US FinTech firm Taulia as the German business software group seeks to expand its presence across supply-chain financing and working...

Afterpay’s meteoric rise as a lending pioneer

Block Inc, formerly Square Inc, is set to complete its acquisition of buy now, pay later (BNPL) company Afterpay Ltd by Feb. 1, one of the biggest takeovers in Australian history. Afterpay emerged from relative...

China’s digital yuan wallets swell but usage lags

China's digital currency has debuted on app stores with fanfare, with online wallets for the electronic yuan seeing mass adoption in the two weeks since a public launch, yet its actual use in transactions...

Robinhood to permanently shift most employees to remote working

Robinhood has said it plans to move a majority of its 3,400 employees to remote work permanently, joining a slew of top tech firms embracing a hybrid culture. The California-based company's move to adopt a...

US consumer bureau orders fintech firm LendUp to halt new loans, pay penalty

The US Consumer Financial Protection Bureau (CFPB) ordered LendUp Loans to pay a $100,000 penalty, stop issuing new loans and halt collecting on certain outstanding ones after repeated deceptive marketing and other fair-lending violations,...

Coinbase says connectivity issues fixed, investigating delays

Coinbase Global Inc said on a Twitter post on Wednesday it has resolved the connectivity problems that denied customers access to the cryptocurrency platform. Coinbase said it is still investigating delays with some transactions and...

Binance affiliate says will withdraw Singapore licence application

The Singapore affiliate of Binance, one of the world's largest cryptocurrency exchanges, said in a statement it will withdraw its local license application and wind down its digital payment token business in the city-state. Governments...

Australia proposes new laws to regulate crypto and BNPL sector

Australia will create a licencing framework for cryptocurrency exchanges and consider launching a retail central bank digital currency as part of the biggest overhaul of its A$650 billion-a-day (approximately $463 billion) payments industry in...

Metaverse won’t be turning point in cryptocurrency adoption, investor Chesnais says

The growth of online virtual worlds will help advance the mainstream adoption of cryptocurrencies for payment transactions but it won't be a game-changer, according to Frédéric Chesnais, CEO of French FinTech company Crypto Blockchain...