India’s Pine Labs eyes $4-5 billion in monthly payments volume from new business

MUMBAI, Aug 5 (Reuters) – India’s Pine Labs is targeting $4 billion to $5 billion in monthly transactions within two years for its new online payments business, its chief executive told Reuters. At that point, online payments should contribute 20% of revenue, Pine Labs chief executive Amrish Rau said, disclosing the company’s targets for the … Read more

TSX gains as US economic data bolsters tech shares

A sign board displaying Toronto Stock Exchange (TSX) stock information is seen in Toronto June 23, 2014. REUTERS/Mark Blinch/File Photo Register now for FREE unlimited access to Register TSX ends up 40.61 points, or 0.2%, at 19,545.94 Tech rallies 4.6 with Shopify up 10.8% Financials end 1.2% higher Energy falls 4.2% as oil prices … Read more

Big Tech in finance? There’s a regulator for that

The logo for Amazon Web Services (AWS) is seen at the SIBOS banking and financial conference in Toronto, Ontario, Canada October 19, 2017. REUTERS/Chris Helgren Register now for FREE unlimited access to Register WASHINGTON, Aug 1 (Reuters Breakingviews) – Technology companies have stormed the heights of consumer finance, but they don’t face the regulation … Read more

US consumer watchdog to scrutinize crypto payments, Big Tech moves into finance director

WASHINGTON, July 27 (Reuters) – The top US consumer watchdog plans to scrutinize the use of cryptocurrencies for real-time payments and ramp up oversight of Big Tech companies as they expand into the traditional financial sector, its director told Reuters. The Consumer Financial Protection Bureau (CFPB) will also publish a report this fall on “buy-now, … Read more

Shopify partners with YouTube to shore up sales from content creators

July 19 (Reuters) – Shopify Inc on Tuesday announced a partnership with Alphabet Inc’s (GOOGL.O) YouTube to allow merchants to sell through the video platform, as the Canadian company looks to tap into the growing number of content creators launching their own e -commerce stores. The partnership, which builds on an existing one with Google, … Read more

Musk’s Tesla stock sale windfall dwarfs Twitter loss

July 11 (Reuters) – Elon Musk’s attempt to scrap his purchase of Twitter Inc (TWTR.N) may leave the world’s wealthiest person in a stronger financial position than before he unveiled the $ 44 billion deal, with billions of dollars in cash from selling Tesla shares now sitting in the bank. After Musk on Friday tore … Read more

Face-recognition business puts SoftBank between China, US

The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato Register now for FREE unlimited access to Register TOKYO, July 8 (Reuters)-A SoftBank-owned company is thriving by offering face-recognition technology fueled by a blacklisted Chinese firm to the likes of Mastercard and Visa, … Read more