Payments News

On The Web

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Companies

Facebook’s Libra Cryptocurrency Gets Revamp in Response to Backlash

“Facebook’s planned cryptocurrency Libra will be linked to individual national currencies and overseen by global watchdogs in a scaled-back revamp it hopes will win regulatory approval.  The prospect of Facebook’s 2.5 billion users adopting Libra has led to intense scrutiny from global regulators, with many worried its launch could erode national control over money. Libra’s […]
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Companies

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 stability, the Group of 20 Economies’ (G20) regulatory watchdog said on Tuesday.  Stablecoins are tied to a traditional currency or basket of assets, and used for payments or storing value. The G20’s […]
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Companies

Shopify Joins Libra, Defying a Wave of Defections From the Crypocurrency Venture

“The controversial Libra cryptocurrency project gained a new member Friday with Shopify Inc.’s announcement it will join the Libra Association , the governing body for the fledgling venture. Shopify’s decision comes in the face of a string of eight high-profile defections from the association since October, including decisions by Mastercard Inc., PayPal Holdings Inc., Stripe […]
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Companies

Facebook, Three Indonesian Firms in Early Talks for Mobile Payment Approval

“Three Indonesian digital fintech firms are working with Facebook Inc to apply for regulatory approval to launch mobile payments in the country, an official at the financial regulator said. The plan, if approved, could be among the first such service under the social media firm’s unified payment service Facebook Pay it unveiled in November, through which […]

On The Wires

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Companies

The Libra Association announces new members

“The Libra Association, an independent member organization, is pleased to announce the addition of three new members, Temasek, Paradigm and Slow Ventures. The design of a blockchain-based payment system that supports responsible financial services innovation and inclusion for billions of people requires a diverse set of members in different industries, geographies and sectors to help […]
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Companies

Mastercard Partners With Facebook to Enable Brazilians to Send and Receive Money Using WhatsApp

“Today, Mastercard announced the extension of its partnership with Facebook to offer a new and innovative way for Brazilians to send and receive money from friends and family on the WhatsApp application. Mastercard cardholders banking with Nubank and Sicredi are among the first in Brazil to experience payments on WhatsApp. Additional banking partners are expected […]
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Companies

Welcome to Novi

“Today, we’re excited to introduce Novi — the new name and brand for the digital wallet that will help people send and hold Libra digital currencies. While we’ve changed our name from Calibra, we haven’t changed our long-term commitment to helping people around the world access affordable financial services. Whether you’re sending money home to […]
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Companies

Facebook Invests $5.7 Billion in India’s Jio Platforms

“One focus of our collaboration with Jio will be creating new ways for people and businesses to operate more effectively in the growing digital economy. For instance, by bringing together JioMart, Jio’s small business initiative, with the power of WhatsApp, we can enable people to connect with businesses, shop and ultimately purchase products in a […]