Remove Currencies Remove eCommerce Remove Financial Systems
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Regulators, Lawmakers Press Facebook For Answers On Libra

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government will respond to the introduction of new digital currencies. On Wednesday (June 20), Fed chairman Jerome Powell said that the country’s central bank has “significant input into the payments system,” which is the eCommerce system that Libra will affect. “We I think we’re a long way from that,” he said.

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Square Gets License From New York To Enable Bitcoin Trading

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In a press release , the New York State Department of Financial Services Superintendent Maria T. Vullo said the agency approved Square ‘s application for a virtual currency license. The payments company has a money-transmitter license from the Department of Financial Services (DFS). Didn’t see much.

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BalanceHero Recorded More Than $100M In GMV Sales

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The spokesperson told reporters that later in 2019 the startup will launch an eCommerce store on its app and provide members with access to insurance. It has morphed into a side gig for many of BalanceHero’s customers and an effective way to get the word out. Yoo said that round is slated to close in July.

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PayPal Files Complaint About Look, Feel Of Indian Competitor Paytm

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PayPal takes its look and feel seriously, recently lodging a complaint against an Indian digital payment services and eCommerce company that it claimed looks too much like PayPal. Taking those notes out of the financial system represents an effort to stymie fraud efforts, corruption and what the site noted as “illegal cash holdings.”

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Enticing Suppliers, Buyers To Embrace The Commercial Card

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Equipment life cycle management and procurement platform SmartEquip recently announced that it will now enable B2B vendors on its portal to accept card payments through a collaboration with Currency. According to the announcement, nearly 60 percent of the UAE workforce does not participate in the country’s traditional financial system.

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Blockchain Tracker: Blockchain’s Possible Impact On The Economy

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With eCommerce transactions moving at the speed of light, the ability to have transparency between parties is likely crucial to preventing security breaches. Blockchain could have an impact on the economy — is Russia leading the way with its current investments?

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Western Union’s Playbook For Balancing Cash And Digital Payments

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Despite the dreams and expectations among all kinds of people during the rise of eCommerce and digital payments, cash isn’t really going away. For “people without disposable income, there is no rationale for them to be included in traditional financial systems,” he added.