Square has agreed to buy a majority stake in Tidal, the streaming music service led by rapper Jay-Z, as part of an effort to expand the company’s suite of financial tools to musicians and emerging artists. From a report: Square will pay $297 million in a mix of cash and stock to become Tidal’s “significant majority” owner, though Jay-Z and Tidal’s…
Tag: payments
Arizona Advances Bill Forcing Apple and Google To Allow Fortnite-style Alternative Payment Options
The Arizona House of Representatives just passed landmark app store legislation in a 31-29 vote on Wednesday that could have far-reaching consequences for Apple and Google and their respective mobile operating systems. From a report: The legislation, a sweeping amendment to Arizona’s existing HB2005 [PDF], prevents app store operators from forcing a developer based in the state to use a preferred…
Bitcoin Could Either Become Preferred Currency For International Trade Or Face a ‘Speculative Implosion,’ Citi Says
An anonymous reader quotes a report from Reuters: Bitcoin rose nearly 7% on Monday as risk assets rallied after last week’s bond rout cooled, with Citi saying the most popular cryptocurrency was at a “tipping point” and could become the preferred currency for international trade. With the recent embrace of the likes of Tesla and Mastercard, bitcoin could be at the…
China Charges Ahead With a National Digital Currency
The electronic Chinese yuan is now being tested in cities such as Shenzhen, Shanghai and Beijing. No other major power is as far along with a homegrown digital currency. From a report: Annabelle Huang recently won a government lottery to try China’s latest economics experiment: a national digital currency. After joining the lottery through the social media app WeChat, Ms. Huang,…
Credit Card Payment Systems Crashed Friday at Stores and Restaurants Across America
On Friday credit-card payment systems went down for major businesses scattered across the U.S. Business Insider reports:
Fiserv, one of the leading payments providers in the US, told Insider, “A widespread internet service provider outage has impacted multiple businesses today.” Ann Cave, a company spokesperson, added in an email: “Some Fiserv services that rely on internet connectivity were interrupted. The majority have…
Does Private Equity Investment in Healthcare Benefit Patients? Evidence from Nursing Homes
The summary of a study by National Bureau of Economic Research: The past two decades have seen a rapid increase in Private Equity (PE) investment in healthcare, a sector in which intensive government subsidy and market frictions could lead high-powered for-profit incentives to be misaligned with the social goal of affordable, quality care. This paper studies [PDF] the effects of PE…
Fake Amazon Reviews ‘Being Sold in Bulk’ Online
Fake reviews for products sold on Amazon’s Marketplace are being sold online “in bulk”, according to Which? The consumer group found 10 websites selling fake reviews from $7 each and incentivising positive reviews in exchange for payment or free products. From a report: It suggested the firm was facing an “uphill struggle” against a “widespread fake reviews industry”. An Amazon spokesman…
270 Addresses Are Responsible for 55% of All Cryptocurrency Money Laundering
Criminals who keep their funds in cryptocurrency tend to launder funds through a small cluster of online services, blockchain investigations firm Chainalysis said in a report last week. From a report: This includes services like high-risk (low-reputation) crypto-exchange portals, online gambling platforms, cryptocurrency mixing services, and financial services that support cryptocurrency operations headquartered in high-risk jurisdictions. Criminal activity studied in this…
Apple Privacy Chief: North Dakota Bill ‘Threatens To Destroy the iPhone As You Know It’
The North Dakota Senate recently introduced a new bill that would prevent Apple and Google from requiring developers to use their respective app stores and payment methods, paving the way for alternative app store options. In response, Apple Chief Privacy Engineer Erik Neuenschwander said that it “threatens to destroy the iPhone as you know it” by requiring changes that would “undermine…
SoundCloud To Let Fans Pay Artists Directly
According to Billboard, SoundCloud is preparing to introduce a new payment system that would allow fans to pay artists directly. From the report: The move would make SoundCloud the first major music streaming service to embrace a direct payment model, a strategy that has been popular with Chinese streaming services like Tencent Music’s QQ Music for years, and one that subscription…