Author: Sarim Pixako

A group of big European banks is planning to challenge Visa’s and Mastercard’s positions as the world’s two largest payment processing networks, Electronic Payments International reported.  Dubbed the Pan European Payment System Initiative, or PEPSI, the group has the support of 20 French and German banks, and would handle all forms of cashless transactions.   PEPSI promises to rival not … Continue reading 24 Big European Banks Take On Visa, Mastercard With Their Own Payment System Continue Reading →

Luckin Coffee announced on Wednesday (July 1) the completion of an internal probe that blames the company’s former CEO and COO for inflating the embattled Chinese java giant’s revenue and expenses by hundreds of millions of dollars. The Beijing-based coffee chain, which goes head-to-head with Starbucks in China’s booming market, said former CEO Jenny Zhiya Qian and former … Continue reading Luckin Wraps Probe Into $300M In Fake Coffee Sales Continue Reading →

Venmo will introduce a new feature for businesses to accept payments separate from the individual owner’s account, a press release says. The payments company said the idea was to add features for those like “sole proprietors, casual sellers, and users with a side hustle” to have an additional boost to their businesses during the pandemic economy. “Whether … Continue reading Venmo Pilots Business Payments For Micro SMBs Continue Reading →

The CEOs of the world’s four biggest technology companies will testify later this month before the House Judiciary Committee as lawmakers investigate competition in the tech industry, Reuters reported. Facebook’s Mark Zuckerberg, Sundar Pichai of Google, Apple’s Tim Cook and Jeff Bezos from Amazon are expected to face no-holds-barred questions from lawmakers about the tech giants’ business practices. The panel … Continue reading Amazon, Google, Facebook, Apple CEOs To Face Congress Continue Reading →

A summary of Wirecard’s customers in 2017 suggests that just 100 clients represented over 50 percent of its real sales, the Financial Times reported, citing an internal spreadsheet. The firm reportedly said it worked with 170,000 small companies and 33,000 large and medium-sized merchants in 2017. However, the internal document hints that the firm’s client base was significantly … Continue reading Internal Document Suggests Wirecard Depended Upon Few Clients For Majority Of Sales Continue Reading →

Credit Builder, a U.S. challenger bank, has debuted a new credit card that works like a debit card by letting customers spend only what’s in an account, TechCrunch reported. With the new Chime Credit Builder Visa Credit Card, users will be able to transfer funds from a spending account to their Credit Builder Secured Account and can charge up … Continue reading Chime Debuts Credit Card That Acts Like A Debit Card Continue Reading →

A summary of Wirecard’s customers in 2017 suggests that just 100 clients represented over 50 percent of its real sales, the Financial Times reported, citing an internal spreadsheet. The firm reportedly said it worked with 170,000 small companies and 33,000 large and medium-sized merchants in 2017. However, the internal document hints that the firm’s client base was significantly … Continue reading Internal Doc: Half Of Wirecard’s Sales Came From Just 100 Clients Continue Reading →

Google’s parent, Alphabet Inc., confirmed on Tuesday (June 30) that it has purchased North, the Canadian startup best known for Focals, its $600 smart glasses.  Terms were not disclosed, but The Globe and Mail reported the deal was worth about $180 million. “North’s technical expertise will help as we continue to invest in our hardware efforts and ambient computing future,” Rick Osterloh, … Continue reading Google Buys North Smart Glasses Maker For A Reported $180M Continue Reading →

The Consumer Confidence Index rose in June, The Conference Board reported in a Tuesday (June 30) press release, but it is still not back to pre-pandemic levels. In June, the index hit 98.1, up from 85.9 in May. Meanwhile, the Present Situation Index, which looks at assessments by consumers of the current business and labor market, … Continue reading Consumer Confidence Index Sees Increase In June Continue Reading →

Societe Generale is acquiring Shine, a neobank for those who start businesses, according to a Tuesday (June 30) announcement. The financial institution said that the company has become a top neobank in only two years, providing offerings to more than 70,000 businesspeople. “Shine’s model appealed to us because it reinforces our relational promise to offer clients the … Continue reading Societe Generale Buys Entrepreneur-Focused Neobank Shine Continue Reading →