Payments News

On The Web

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Companies

Inside Facebook’s Plans for a Banking Super App

“Facebook’s financial services chief says the social network is unbowed by the rush of companies into the digital banking market, even as its cryptocurrency and other ventures have yet to get off the ground. The public’s embrace of digital banking during the pandemic has drawn in new competition, which in turn will attract more consumers […]
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Companies

Facebook Says It Wants a ‘fair Shot’ in the Crypto Payments Sphere.

“At the center of Facebook’s push into payments is Novi, a digital wallet intended for users to move money around the world quickly and cheaply (free, in many cases). The company had plans to pair it with a “stablecoin” cryptocurrency called Libra, but that was shelved amid regulatory scrutiny, and now the scaled-back project , […]
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Companies

Facebook Learns From Its Mistakes in Payments

“A proprietary Facebook Credits currency fizzled many years ago, and the social media giant’s more recent attempts to spearhead development of the Libra global cryptocurrency bombed so hard that it had to change the product’s name. Consumer trust in largely unregulated social media platforms is weak, and Facebook is one of the least trusted of […]
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Companies

How Facebook Is Banking On Visual Search To Get You To Shop More

“Facebook is now looking to take online shopping to the next level with the use of AI-driven visual experiences. The social media giant introduced the Shop section in the Facebook app last year and brought something similar with the Shop tab on Instagram . So far, tools such as product tags and captions have further […]
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Companies

Facebook Needs Users to Shop, Not Drop

“Facebook is still riding a pandemic high, with ads successfully driving impulse purchases of everything its users didn’t even know they wanted. But longer term it will need to become more of a destination for users to buy exactly what they know they need. On Wednesday, Facebook reported strong first-quarter revenue that handily beat Wall […]
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Companies

Diem Stablecoin Prepares for Liftoff With Fireblocks Custody Partnership

“Crypto custodian Fireblocks and payments platform First Digital Assets Group are providing connectivity and support to diem, the global stablecoin and payments system formerly known as libra. Fireblocks and First are providing the digital plumbing to allow financial service providers such as banks, exchanges, payment service providers (PSPs) and eWallets to plug into Diem on […]
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Companies

Britain’s competition regulator sets out new regime for tech giants

“Britain’s competition watchdog outlined a new regime for regulating tech giants such as Google and Facebook, saying it needed new powers to harness the full potential of digital markets and drive competition and innovation. It proposed a new, legally binding code of conduct, pro-competitive interventions in the market and enhanced merger rules, overseen by a […]
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Companies

Facebook’s long-awaited libra currency to reportedly launch in a limited form early next year

“Libra, a new cryptocurrency being created by Facebook and others, could launch as soon as January but in a limited format, according to a report from The Financial Times, which cited sources familiar with the matter. The Libra Association, which has 27 members including Facebook, was planning to launch digital versions of several traditional currencies. […]
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On The Wires

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Companies

New Ways to Shop for Products You Love Across Our Apps – About Facebook

“Today, we’re announcing new ways to shop across our apps, along with solutions for businesses to personalize shopping with ads, and investments in technologies that will shape the shopping experiences of tomorrow.  The way people shop has changed in the last few decades — from visiting malls, to buying online and now virtually trying on […]