Welcome to The Axis, your late look at payments news from around the world. Coverage includes Marks & Spencer’s roll out of its “Mobile, Pay, Go” service in the U.K. In addition, Malaysia’s CIMB Bank is bringing multi-QR terminals to merchants, and First Abu Dhabi Bank (FAB) is using sound waves in a payment system. The […]
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The manipulation of cryptocurrencies is getting attention from regulators who have been warning that these digital tokens, and the exchanges they are traded on, could be vulnerable to price manipulation. The Wall Street Journal, citing the New York Attorney General Barbara D. Underwood, reported in September that the AG issued a report warning about the […]
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What would you say about a computer geek who said he could protect your online identity, and while doing do would make a bold move against the likes of Facebook and Google? What would you say if that person happened to be the inventor of the World Wide Web? As consumers become more cautious — […]
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As financial institutions (FIs) invest in technology in an effort to position themselves more competitively against FinTech firms, the development of so-called chat bots and “robo advisors” has accelerated. Projects from Wells Fargo, JPMorgan Chase and RBS have all surfaced in recent years, as FIs deploy artificial intelligence (AI) solutions that both meet their customers’ needs […]
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On Friday (Sept. 30), LendingClub officially closed the door on a two-year chapter in its corporate history that its current board and founding team would probably like to forget. Both the Securities and Exchange Commission (SEC) and the Department of Justice (DOJ) have officially ended a two-year investigation of LendingClub, its subsidiary LC Advisors (LCA), […]
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Most people today think of slavery as a barbaric system from a bygone era, but for millions of victims around the world, it continues to be a day-to-day reality. According to research from the United Nations (UN), more than 40 million people worldwide were enslaved as of 2016, mostly through human trafficking rings, which earn […]
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The Securities and Exchange Commission announced Saturday (September 30) that Elon Musk, CEO and chairman of Tesla, and the green car company have agreed to pay a total of $40 million in fines and for Musk to resign as chairman to settle securities fraud charges. In a press release, the SEC said it charged Tesla […]
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Ripple, the blockchain startup, is heading up a new cryptocurrency lobbying group called Securing America’s Internet of Value Coalition. Coindesk, citing a Business Standard report late last week, reported the companies behind the lobbying group also include the RippleWorks Foundation; Coil, a company developing a solution for digital payments; Hard Yaka, an investment firm focusing on […]
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Here’s the thing: Does Google know how to yell? Or even raise its voice from time to time? Odd questions, huh? But they came to mind when considering all the new ways in which Google — and other digital operations, no doubt, but Google is Google and even its shadow weighs more than others — is […]
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In an effort to get more clarity on the regulation of digital currencies, U.S. representatives wrote to U.S. Securities and Exchange Commission (SEC) chairman Jay Clayton. The lawmakers are looking for the official to lay out how the agency plans to regulate digital currency in clearer terms, CNBC reported. The U.S. representatives wrote in the […]
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