TerraPay, a facilitator of cross-border money movement, has announced a strategic partnership with Tenpay Global, Tencent’s cross-border payment platform, to enable international transfers directly to Weixin Pay users in China. According to the World Bank, global remittances are projected to reach $913 billion by 2025, with a significant portion directed towards developing nations. China, being […]
IBM shares moved 3% lower in extended trading on Wednesday after the hardware, software and consulting provider fell short of Wall Street’s revenue expectations for the third quarter. Here’s how the company did in comparison with LSEG’s consensus: Earnings per share: $2.30 adjusted vs. $2.23 expected Revenue: $14.97 billion vs. $15.07 billion expected IBM’s overall revenue increased 1.5% […]
The U.S. economy has defied predictions of a recession and is on track to continue its world-beating streak of robust growth, according to new forecasts from the International Monetary Fund. Why it matters: The world faced a slew of shocks in recent years — pandemic, inflation, war and more. But one thing has stayed constant: The U.S. […]
Higher prices are here to stay, which adds to economic pain also stemming from slow growth and high debt, the International Monetary Fund’s managing director, Kristalina Georgieva, said on Monday. “The pain we all feel because prices have gone up is here to stay, and a higher level of prices makes many people around the […]
Pipe, a fintech company partnering with software platforms to deliver embedded financial solutions for SMEs, is now partnering with bank payment company GoCardless to reshape capital access for UK businesses. Through a new partnership, GoCardless will make a capital offering from Pipe available on its platform, providing simple and seamless capital access for its UK customer base. The […]
Core banking provider Tuum is launching foundational Islamic banking and finance solutions, focusing on the key principles of Islamic banking, laying the groundwork for a full end-to-end platform designed to support the needs of Islamic financial institutions. With the launch, Tuum is creating the infrastructure required for Islamic deposits and asset-based lending, two critical components of a […]
In many emerging markets, super apps are transforming how people access essential services. These multifunctional platforms, offering everything from transportation to financial services within a single ecosystem, are redefining daily life. At Gitex Dubai 2024, Mark Walker, the editorial director of The Fintech Times, sat down with Stephen Kruger, the chief technology and product officer of ride-hailing giant inDrive, to […]
Global payments giant Visa is introducing a “new and supercharged” Visa Direct, by combining four previously standalone money movement capabilities into a single portfolio. In a move to improve the way individuals, businesses and governments move money, Visa is combining the reach, expertise, acquisitions and technology of Visa B2B Connect, Currencycloud, YellowPepper and Visa Direct into one […]
General Motors (GM) and Ford Motor (F) will likely have a tough time convincing investors when they report results that Detroit’s pricing power for gasoline cars is still strong and losses from their EV ventures are dwindling. GM is set to release its results for the July to September period on Oct. 22, while crosstown […]
US stocks are unlikely to sustain their above-average performance of the past decade as investors turn to other assets including bonds for better returns, Goldman Sachs Group Inc. strategists said. The S&P 500 Index is expected to post an annualized nominal total return of just 3% over the next 10 years, according to an analysis […]
The time to make final selections at the last full-sized Kmart in the continental United States is nearly up as the once retail giant turned out its signature blue light in New York. The Bridgehampton store, about 95 miles east of Manhattan, closed its doors for the final time Sunday night, leaving only one smaller […]
TAMPA, Fla. — SpaceX launched 20 spare OneWeb satellites Oct. 20 to strengthen the resiliency of French operator Eutelsat’s rival low Earth orbit (LEO) broadband network. Eutelsat said it had successfully contacted each satellite following lift-off on a Falcon 9 rocket at 1:13 a.m. Eastern from Vandenberg Space Force Base, California. Eutelsat spokesperson Katie Dowd […]
