Banks

TechCrunch: Google stops businesses from using RCS for promotions in India, following reports that top banks and other companies are abusing the feature to send spam — Google has disabled businesses ability to use RCS for promotion in India, the company's biggest market by users … TechCrunch: Google stops businesses from using RCS for promotions in India, following reports that top banks and other companies are abusing the feature to send spam — Google has disabled…

Payment history often not reportedBNPL companies generally don't report to the credit-scoring companies when consumers use these loans. That makes it a challenge for a lender to know how many loans a consumer has outstanding. "That makes a big difference in terms of how much you should loan," said Kenneth Lin, CEO of fintech company Credit Karma. "Oftentimes, a credit system is actually blind to how much you owe in the Buy Now Pay Later scenario."Consumers with multiple BNPL loans with multiple payment dates may find…

Workers at Flipkart sort packets on a conveyor belt inside its fulfilment centre in Bengaluru. (Photo: Reuters)NEW DELHI: India's scheme to break Amazon and Walmart's dominance of its e-commerce sector, by establishing its own open network, has begun lining up banks and other key players needed to move it forward, sources familiar with the matter said. Some of India's biggest banks are in discussions about setting up "buyer platforms" to let their customers place orders for goods and services over the Open Network for…

ONDC, the government's effort to break Amazon and Walmart's dominance of its e-commerce sector, by establishing its own open network, has begun lining up banks and other key players needed to move it forward, sources familiar with the matter said.Some of the country's biggest banks are in discussions about setting up "buyer platforms" to let their customers place orders for goods and services over the Open Network for Digital Commerce (ONDC), which the government soft-launched in April, the sources told Reuters.The…

Banks in Singapore will have to provide a "kill switch" as part of a new slew of security measures to safeguard against growing online scams. Consumers also are urged to access their accounts via mobile banking apps, instead of web browsers, to minimise risks. The latest set of measures would complement those introduced in January this year, shortly after a spat of online scams involving OCBC Bank customers resulted in losses of more than SG$8.5 million ($6.32 million).The new measures were unveiled Thursday and expected…

India's effort to break Amazon Inc and Walmart Inc's dominance of its e-commerce sector, by establishing its own open network, has begun lining up banks and other key players needed to move it forward, sources familiar with the matter said. Some of India's biggest banks are in discussions about setting up "buyer platforms" to let their customers place orders for goods and services over the Open Network for Digital Commerce (ONDC), which the Indian government soft-launched in April. The success of the network, which would…

Two top cryptocurrency companies, Ripple and FTX, told CNBC that they're on the lookout for acquisitions as the industry hopes to drive growth through buying other firms.It is a sign that some crypto firms feel that they're large enough and well capitalized to splash the cash on acquisitions.Brett Harrison, president of cryptocurrency exchange FTX U.S., said in an interview last week that the company is in "a very good spot in terms of our capital and cash" and will "look around the market for potential merger and…

An attendee identified as Emily, left, holds a candle during a candlelight vigil for Michelle Go at Portsmouth Square in San Francisco, Calif. Tuesday, Jan. 18, 2022.Stephen Lam | Getty ImagesSometime after Deloitte consultant Michelle Go was shoved to her death underneath a moving R train in January, another New York City resident swore off taking the subway.Instead of taking the No. 6 train to her desk at Dime Bank in midtown Manhattan, the woman, an Asian American manager in her late 30s, walks to work. The fear she…

Technology budgets in Brazilian banks are set to increase this year as digital transformation accelerates in the sector, according to a yearly report by the National Banking Federation (FEBRABAN), carried out by Deloitte. According to the study, tech budgets are set to reach $7.4 billion in 2022, up 18% in relation to last year. The estimate is based on the responses from 17 Brazilian banks, which concentrate around 82% of all banking assets in Brazil. Within last year's total tech budget at Brazilian banks of $6.3…

Rebecca Isaac, 50, sits on a wooden chair at the entrance of her house as she peels baskets of cassava at Pegi, a community in Kuje Area Council of Abuja. Her husband and their two children stand nearby, waiting to grind and process the pellets. Mrs Isaac gets farm inputs on credit from people, and support from her husband and children. Her efforts to receive government funding and support in the past did not succeed. Despite being in the federal capital, she, like most other women…