U.S. Tech Firms Apply for Payment System Licenses in India

Tech giants Facebook, Google, and Amazon have bid on payment licensing services for the massive digital payment market in India. The India payment market, which has dealt mostly in cash, has begun to shift in favor of digital payment systems, …

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U.S. Federal Reserve Suffers Disruption of ‘Fedwire’ Payment System

The United States Federal Reserve systems suffered a widespread disruption to multiple services for several hours on Feb. 24 due to an “operational error.” According to a message on the website of the Federal Reserve, its staff “became aware of …

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China’s Central Bank Pushes Ant Group Overhaul

The Central Bank of China disclosed on Monday morning it had formally asked the nation’s payments juggernaut Ant Group to shake up its lending and other consumer finance operations, in a move that represents the latest blow to its founder and controlling shareholder Jack Ma.

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