Payment

TikTok is allowing the platform to be flooded with AI-generated recordings — as well as developing tools to enable, promote and encourage AI music creation on the platform itself – and then demanding a contractual right which would allow this content to massively dilute the royalty pool for human artists, in a move that is nothing short of sponsoring artist replacement by AI. Further, TikTok makes little effort to deal with the vast amounts of content on its platform that infringe our artists’ music and it has offered no…

Universal Music Group (UMG) is threatening to pull all of its music from TikTok today following a breakdown in negotiations over royalties, the company wrote in an open letter. That would mean TikTok creators would lose access to songs from stars including Taylor Swift, Billy Eilish, The Weeknd, Drake and others.With UMG's deal with TikTok set to expire, the sides have reportedly been in negotiations for the past year. Such deals are worth billions annually to music publishing firms and are typically negotiated every few…

Food-delivery platform Zomato and international financial infrastructure provider Stripe are the latest entities to have received final approval from the regulator to operate as online payment aggregators. While Zomato received the nod from the Reserve Bank of India (RBI) on January 24, Stripe got the go-ahead on January 15. Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteMITMIT Technology Leadership and InnovationVisitIIT DelhiIITD Certificate Programme in Data Science & Machine…

In a move complying with the Digital Markets Act (DMA) in the European Union, Apple is making significant changes in iOS 17.4, expanding options for app distribution and payment processing. The changes will take effect in 27 EU countries starting from March 2024, notes Apple. One of the notable changes made in response to the DMA is the opening up of the iPhone’s near-field communication (NFC) system, previously exclusive to Apple Pay, for other banking and wallet apps. This marks a pivotal shift in Apple’s approach,…

Last Updated: January 16, 2024, 10:38 ISTOf the 44,000 respondents from 276 districts of India, around 75% flagged drivers cancelling the ride as the biggest issue they faced with taxi aggregators. (Getty Images)Of those who faced cancellations, 79% said the rides were cancelled when the driver learnt of the destination and 47% said they faces such issues when the driver got to know that the mode of payment would be digital and not cashAround 84% taxi app consumers surveyed said they faced cancellations after the cab…

Spotify will go through massive changes when the European Union's Digital Markets Act goes into full effect on March 7. The audio streaming service says EU residents will finally be able to purchase a Premium subscription or upgrade from Individual to a Duo or a Family plan from within the app itself. Spotify hasn't allowed users to pay for a subscription through Apple's in-app payment system since 2016 and has long been a vocal critic of the 30 percent cut the iPhone-maker takes from app developers. Last year, it even…

Although Ripple has been around since 2012, it and the XRP Ledger are doubling down on its global payments journey. At the same time, it’s also aiming to become the go-to enterprise infrastructure provider, the company’s president, Monica Long, said on TechCrunch’s Chain Reaction podcast. Distinct from the Ripple network and protocol, the XRP Ledger is a decentralized public ledger with an open source code base that anyone can contribute to or use, Long said. And there are thousands of developers globally who do, she…

Apple has promised to open up its tap-and-go mobile payment system to rivals, the European Union said Friday, as the U.S. tech company seeks to resolve an antitrust case and avoid a fine that potentially could be worth billions.Apple proposed letting third-party mobile wallet and payment service providers access the contactless payment function on its iOS operating system, the EU said. The 27-nation bloc now is seeking feedback from “all interested parties” on the changes before making a decision on the case.The European…

Come early March, iPhone and iPad users in Europe will be able to sideload apps. Apple has to comply with the EU’s Digital Markets Act (DMA) legislation and open the App Store to competitors. Sideloading will come hand in hand with third-party app stores and non-Apple payment systems.Crucially, iPhone sideloading will be restricted to Europe. Apple is reportedly ready to roll out the changes, which will effectively create a different App Store experience for Europeans. iPhone users in the US will soon get a part…

Following the news that the Supreme Court has refused to hear the appeal of either Apple or Epic Games in their ongoing antitrust App Store lawsuit, Apple has rolled out a brand new links feature to comply with the court’s ruling. Epic Games mostly lost its legal battle against Apple, but a court did rule in favor of the Fortnite maker on one count. As it stands, Apple is no longer allowed to adopt any “anti-steering” measures and must let App Store developers offer their customers a link so that they can buy digital…