Tag Archives: Institution

SAO PAULO, Dec 8 (Reuters) – Alphabet’s (GOOGL.O) Google Pay has received approval to operate as a payment institution in Brazil, Latin America’s largest economy, the country’s official gazette showed on Thursday, allowing it to initiate payment transactions. Payment initiators, according to Brazil’s central bank, initiate a transaction ordered by the final user but never manage the payment account, nor hold the funds of the transactions. A press spokesperson for Google confirmed the central… Source link

Alibaba Group Holding Ltd -ADR (NYSE: BABA) has been slaughtered since October 2020 when it reached an all-time high of $319.32. The sharp decline has been partly due to poor U.S./China relations as well and Chinese regulators cracking down on the e-commerce giant and its CEO Jack Ma. Since July 22 the decline in the stock has accelerated and although there has been some bounce plays for the bulls, the stock has become risky due to new out of China, when the U.S. markets are closed, causing… Source link

ContextLogic Inc. (WISH) announced that its Dutch subsidiary ContextLogic B.V. (CLBV) has been granted a Payment Services License from the Dutch Central Bank. ContextLogic is an E-commerce platform that facilitates transactions between buyers and sellers. The stock is gaining a lot of attention amid the meme stock frenzy, with WISH gaining 53% in the past month compared to a six-month decline of 43.2%. (See ContextLogic stock charts on TipRanks) The new Payment Services License will allow the… Source link