Libra, Facebook’s ambitious but controversial cryptocurrency project, took a hit on Friday as five founding members of the association backing the global coin dropped out. Online marketplace eBay, payments provider Stripe and financial services giants Visa and Mastercard all said they’re no longer participating in the Libra Association, the nonprofit overseeing the project. Mercado Libre’s …
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The coalition Facebook assembled to create a global payments network may be losing some key financial support. Visa, Mastercard and other financial partners who signed on to support Libra are reconsidering their involvement in the network, The Wall Street Journal reported Tuesday. The financial partners are reluctant to attract regulatory scrutiny following backlash from governments and banks and have declined …
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Apple just launched the Apple Card, a digital-first credit card for iPhone users. Anyone in the US can apply for an Apple Card with just a few taps on your iPhone’s screen. Apple’s new credit card comes with incentives for using the Apple Pay version of the card to make payments. There’s also a sweet titanium card you can order to carry …
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Apple Card is available to everyone now. Here’s how you can apply for Apple Card today. Taking on its own credit card, rather than piggybacking on your bank card, is a bold move for Apple that no other media giant has sought, even Google and Samsung, two companies that also have robust mobile payment systems may not follow Apple’s footsteps. Backed by Mastercard and Goldman Sachs, …
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Facebook co-founder Chris Hughes has called the possibility of success for the social network’s newly unveiled cryptocurrency “frightening.” Libra will shift power from central banks to corporations, he wrote in a Financial Times op-ed Friday. Facebook earlier this week unveiled the global digital coin, which will be managed by a governing body called the Libra Association and through a wallet named Calibra. Facebook …
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Reports of Facebook’s upcoming cryptocurrency have been circulating for weeks, and an announcement from the social network is expected within days. The coin, supposedly called Libra, has a list of financial backers including Visa, Mastercard, PayPal and Uber, according to a report in The Wall Street Journal on Friday. Each company will reportedly invest around $10 million into a consortium, which …
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The hot new thing in payments is… plastic? Apple on Monday introduced the Apple Card, a credit card that exists as both a virtual card in Apple’s Wallet app and a physical card (to be fair, it’s titanium not plastic). Apple’s card comes out after digital money companies PayPal, Square and PayPal-owned Venmo all introduced their own physical credit, debit …
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Mastercard wants in on esports, and it’s going in big. The company Tuesday announced in Singapore a new partnership with the Riot Games’ League of Legends, which is currently one of the biggest (if not the biggest) esport. A recent tournament, the Mid-Season Invitational, saw close to 20 million players watching online streams, and the game itself features an estimated …
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Venmo, PayPal’s emoji-fueled payments app, on Monday introduced a new debit card for US customers. The card will let people pay using their Venmo accounts anywhere Mastercard is accepted in the country. Venmo started a beta program for the new cards last year, and they are now available in limited release. The cards arrive as PayPal works to bring its …
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This story is part of “Follow the Money,” a look at how digital cash is changing the way we save, shop and work. John Kunze walked into a check-cashing store along Lexington Avenue in Manhattan a few months ago. It had red neon signs in the windows, cold fluorescent lights and a loop of muzak piping through the speakers. He …
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