Payments News

On The Web

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Companies

Why Apple Has Acquired a UK Open Banking Fintech Firm

“With little fanfare accompanying the move, popular cryptocurrency media publication The Block reported on March 23 that US tech giant Apple had acquired Credit Kudos. The acquisition had reportedly closed earlier that week, with Credit Kudos valued at $150 million. But as of today, there remains some speculation over exactly why Apple decided to make […]
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Companies

Apple Working to Bring More Financial Services In-House

“Apple Inc. is developing its own payment processing technology and infrastructure for future financial products, part of an ambitious effort that would reduce its reliance on outside partners over time, according to people with knowledge of the matter. A multiyear plan would bring a wide range of financial tasks in-house, said the people, who asked […]
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Companies

Apple Fined After Failing to Meet Dutch App Payment System Rules

“A Dutch regulator has fined Apple Inc. for failing to allow rival payment systems for dating-app providers. Although the fine — just 5 million euros ($5.7 million) every week with a total limit of 50 million euros — is a fraction of Apple’s $365.8 billion-annual revenue, the decision is a sign regulators are hardening their […]
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Companies

Apple Submits Plans to Allow Alternative Payment Systems in S.Korea – Regulator

“South Korea’s telecommunications regulator said on Tuesday Apple Inc (AAPL.O) had submitted plans to allow third-party payment systems on its App Store to comply with a law banning major app store operators from forcing software developers to use their payments systems. The Korea Communications Commission (KCC) had requested Apple and Alphabet’s (GOOGL.O) Google to submit […]
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On The Wires

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Companies

Apple Acquires UK Open Banking Startup Credit Kudos

“Credit Kudos, a UK open banking startup that helps lenders make better decisions, has been acquired by US tech giant Apple. The deal closed earlier this week, according to three people close to the deal. One source said it valued the startup at about $150 million, a significant uplift in valuation. A link labeled ‘Website Terms […]
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Companies

Apple Services Enrich Peoples’ Lives Throughout the Year

“Apple Pay provided even more customers with a secure and easy way to pay in-store and online around the world after expanding to nine new markets in 2021, including Colombia, Israel, and Mexico. Today, Apple Pay is available in nearly 60 countries and regions, and works with nearly 9,000 bank partners worldwide.Apple also continues to deliver […]