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Walmart Launch Fintech Startup in partnership with Ribbit Capital

18Jan By AnkitaNo Comments

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Walmart Launch Fintech Startup in partnership with Ribbit Capital

BENTONVILLE, Ark., 18th Jan 2021-- Walmart announced the creation of a new fintech startup in a strategic partnership with leading fintech investment firm Ribbit Capital. The venture will bring together Walmart’s retail knowledge and scale with Ribbit’s fintech expertise to deliver tech-driven financial experiences tailored to Walmart’s customers and associates. “For years, millions of customers have put their trust in Walmart to not only save them money when they shop with us but help them manage their financial needs. And they’ve made it clear they want more from us in the financial services arena,” said John Furner, President and CEO, Walmart US. “We’re thrilled to work with Ribbit Capital in a new venture to help us deliver innovative and needed options to our customers and ass...

Elon Musk Foundation donates $5 million to Khan Academy

14Jan By AnkitaNo Comments

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Elon Musk Foundation donates $5 million to Khan Academy

World's richest person and Tesla's co-founder Elon Musk donated $5 million to the American non-profit educational organisation Khan Academy through his Musk Foundation. Khan Academy founder Sal Khan announced this news in a video posted on Twitter. Sal khan said he wants to give a huge shout and thank you to Elon Musk and everyone at the Musk foundation. "Thank you @elonmusk and @MuskFoundation for an incredible $5m donation to @khanacademy," he said. Elon Musk, along with his brother Kimbal, founded this NGO in 2002 which donates and support in several areas, including education, renewable energy research, human space exploration research, pediatric research etc. Founded in 2008, Khan Academy has 120 million registered users and 20 to 30 million students are using the platfor...

Google wins EU antitrust nod for $2.1 billion Fitbit deal

17Dec By reutersNo Comments

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Google wins EU antitrust nod for $2.1 billion Fitbit deal

17th December 2020: Alphabet's Google won EU antitrust approval on December 17 for its $2.1 billion bid for Fitbit after agreeing on restrictions on how it will use customers' health-related data. The deal had triggered criticism from privacy advocates on both sides of the Atlantic, consumer organisations and Google rivals about the company's market power and the use of people's health data in targeted advertising. Fitbit, once the leader in the wearable devices market, has lost market share to Apple, Xiaomi, Samsung and Huawei in recent years. The European Commission said it had agreed concessions with Google, valid for 10 years with the possibility of another 10-year extension, addressing competition concerns, confirming a Reuters story in October. Google will store Fitbit u...

Mastercard may have to pay $18.5 billion in a Lawsuit

15Dec By AdityaNo Comments

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Mastercard may have to pay $18.5 billion in a Lawsuit

London, Dec 15, 2020 (AP): Mastercard could have to pay U.K. consumers as much as 14 billion pounds (USD 18.5 billion) after the country's Supreme Court allowed a class-action lawsuit against the credit card company to move forward. The Supreme Court on Friday ordered a competition tribunal to reconsider its decision to block a lawsuit alleging that Mastercard overcharged businesses that accepted the company''s credit and debit cards. These fees were then passed on to consumers in the form of higher prices, the suit claims. Mastercard does not accept that merchants passed on all or any part of any overcharge to their customers. The Competition Appeal Tribunal must now reconsider its refusal to certify the lawsuit as a “collective proceeding.” Certification is required before mass...

US Govt Filed Antitrust Lawsuits Against Facebook For Crushing Smaller Competitors

11Dec By AdityaNo Comments

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US Govt Filed Antitrust Lawsuits Against Facebook For Crushing Smaller Competitors

Washington, Dec 10, 2020: The US government and 48 states have filed parallel antitrust lawsuits against Facebook, accusing the social media giant of anti-competitive conduct by abusing its market power to create a monopoly and crushing smaller competitors, a move which may force it to sell WhatsApp and Instagram. Soon after the Federal Trade Commission (FTC) and 48 state attorney generals sued the California-headquartered company, Facebook shares fall significantly. The bipartisan coalition led by New York attorney general Letitia James alleged that Facebook has engaged in a systematic strategy to eliminate threats to its monopoly. This includes its 2012 acquisition of up-and-coming rival Instagram, its 2014 acquisition of the mobile messaging app WhatsApp and the imposition of ant...

Shopify Merchants Cash In Record $5.1+ Billion in Holiday Sales Worldwide

1Dec By AdityaNo Comments

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Shopify Merchants Cash In Record $5.1+ Billion in Holiday Sales Worldwide

OTTAWA, Ontario, 1st December 2020-- Shopify Merchants cash in $5.1+ billion in global sales of Black Friday through Cyber Monday. The total sales grew by 76% from the $2.9+ billion reported for Black Friday/Cyber Monday weekend in 2019. In this record-setting weekend, shopify retailers daily total sales increasing 19 days before Cyber Monday, nearly two weeks earlier than previous years. In fact, in the week leading up to Cyber Monday, from November 23 through November 30, sales increased by 84% from 2019. “This has been a transformative year for commerce globally,” said Harley Finkelstein, President of Shopify. “The record sales we saw on Shopify over Black Friday/Cyber Monday weekend demonstrate the power of the independent and direct-to-consumer businesses on our platform. With ...

Visa Brings Virtual Card Payment Facility to Clients Worldwide

23Nov By AnkitaNo Comments

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Visa Brings Virtual Card Payment Facility to Clients Worldwide

SAN FRANCISCO, November 23rd, 2020-- Visa (NYSE:V), the world’s leader in digital payments launch Visa Commercial Pay, a suite of B2B payment solutions, to help improve cash flow for businesses and eliminate outdated manual processes. Virtual commercial cards have never been more necessary than today. Remote workers are turning to personal cards to pay for corporate expenses, buyers and suppliers need more efficient ways to pay and get paid, and businesses need immediate visibility into their company spend to improve cash flow and mitigate risk efficiently. Visa Commercial Pay provides comprehensive card-program management capabilities, including on-demand virtual card issuance to employees’ mobile devices via an app, created exclusively by Conferma Pay and Visa, for Visa’s commerc...

PayPal Launched Crowdfunding platform Generosity Network

19Nov By AnkitaNo Comments

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PayPal Launched Crowdfunding platform Generosity Network

SAN JOSE, Calif., Nov. 20, 2020: Global cross-border online payment platform PayPal will now enable its customers in the U.S. to create customized fundraising campaigns through its newly launched Generosity Network. Inspired by the rising popularity of peer-to-peer crowdfunding, Paypal Generosity Network let people raise up to $20,000 over a 30-day period. More than half of charitable organizations in the U.S. expect to raise less money than they did in 2019, as a result of the financial strain experienced by people and businesses across the country since the start of the pandemic. With more than 65 million Americans filing for unemployment over the course of the pandemic, many have turned to family, friends, and the generosity of those in their community who have been able to p...

WhatsApp added Shopping button in its App

11Nov By PriyankaNo Comments

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WhatsApp added Shopping button in its App

New York, 11th Nov. 2020: Leading messenger platform WhatsApp has added a new shopping button on its app to make it easier for people to discover a business catalog to get information about the goods and services offered by the firm. More than 175 million people message a WhatsApp Business account every day and more than 40 million people view a business catalog each month. "And, we want to make the shopping experience even better especially as we get ready for a holiday shopping season unlike any other when people will need helpful ways to make purchases remotely and businesses want digital tools to close sales," WhatsApp said in a statement. The new shopping button is available now across the world and will replace the voice call button, it added. To find the voice call butt...

Bigbasket Data Breach, Data of 20 million users put on Dark Web

9Nov By AdityaNo Comments

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Bigbasket Data Breach, Data of 20 million users put on Dark Web

New Delhi, Nov 8, 2020: India's leading online grocery platform Bigbasket faces a potential data breach that could leak the details of its 20 million users, according to cyber intelligence firm Cyble. The company has filed a police complaint in this regard with Cyber Crime Cell in Bengaluru and is verifying claims made by cyber experts. The cyber firm said that a hacker has put data allegedly belonging to Bigbasket on sale for around $40,000 (Rs 30 lakh). "In the course of our routine dark web monitoring, the research team at Cyble found the database of Big Basket for sale in a cybercrime market, being sold for over USD 40,000. The leak contains a database portion; with the table name ''member_member''. The size of the SQL file is about 15 GB, containing close to 20 million user ...

Udemy for Business Surpasses $100 Million Annual Recurring Revenue Milestone

31Oct By AdityaNo Comments

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Udemy for Business Surpasses $100 Million Annual Recurring Revenue Milestone

SAN FRANCISCO, 31st Oct 2020-- Global platform for online learning Udemy's corporate learning solution, Udemy for Business scaled from $1 million to $100 million annual recurring revenue (ARR) in just five years. On Udemy more than 57,000 instructors teach over 130,000 courses in over 65 languages. Udemy for Business curates 7,000 of the highest-rated courses from the marketplace covering the most in-demand professional skills that employees need to become better subject-matter experts, leaders, and collaborators. “We’ve entered an era of continuous change, and companies and individuals need continuous learning to thrive,” said Stephanie Stapleton, Vice President of Customer Success at Udemy. “The pandemic has only accelerated the global movement toward online learning. We’re thrill...

Pakistan unblock TikTok after it vows to moderate content

19Oct By PriyankaNo Comments

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Pakistan unblock TikTok after it vows to moderate content

ISLAMABAD, Oct 19, 2020: The Pakistan Telecommunication Authority decided to unblock the video-sharing app TikTok after receiving assurance from Tiktok management to remove the vulgar content. The spokesperson of PTA said the TikTok management has assured the authority that it will block all accounts repeatedly involved in spreading obscenity and immorality and moderate content in accordance with local laws. The authority has not announced whether the app will be unblocked immediately. The authority had said at the time of the ban that the decision was made after it received complaints ‘against immoral/indecent content’ on the app. The PTA said it had issued a final notice to the app and gave considerable time to respond and develop and an effective mechanism for ‘proactive moder...