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Ant Group will apply to become a financial holding company that is overseen by China's central bank as part of efforts to appease regulatory concerns over the way it conducts its online payments operations. Pan Gongsheng, deputy governor of the People's Bank of China (PBOC), said in a statement that Ant representatives met with four of China's regulatory arms to address anti-monopoly concerns on Monday. In the statement, he also revealed that Ant Group has been working with the agencies in recent months to formulate "rectification plans" aimed at resolving these concerns. As part of the plan, Ant Group has agreed to apply to become a financial holding company that is supervised by the PBOC. It will also give consumers more payment method options and disconnect any "anti-competitive connections" between Alipay and other financial products, such as Huabei and Bibai, as part of the plan. The formulation of the "rectification plan" follows the suspension of Ant Groups's initial … [Read more...] about Ant Group to become a financial holding company overseen by China’s central bank

The next few years will see billions of users regularly using facial recognition technology to secure payments made through their smartphone, tablets or smartwatches, according to new analysis carried out by Juniper Research. Smartphone owners are already used to staring at their screens to safely unlock their devices without having to dial in a secret code; now, facial recognition will increasingly be deployed to verify the identity of a user making a payment with their handset, whether that's via an app or directly in-store, in wallet mode. Smartphones The best cheap phones The 10 best smartphones The best Android phones The best Samsung phones The best rugged phones How to keep your smartphone clean during the coronavirus (TechRepublic) In addition to facial features, Juniper Research's analysts predict that a host of biometrics will be used to authenticate mobile payments, including fingerprint, iris and voice recognition. Biometric … [Read more...] about Billions of smartphone owners will soon be authorising payments using facial recognition

The iPhone 12 represents a stark departure from its predecessors, courtesy of a completely refreshed design and some notably improved components. With many an iPhone XR owner due for an upgrade after a long two-year contract, it’s the iPhone 12 that’s likely to be in their crosshairs. So how much of a step up does the iPhone 12 present? And is the iPhone XR still a viable purchase in 2021? The two-year gap between the release of these handsets represents a long time in the smartphone world. Let’s see if Apple has put that development time to good use. iPhone 12 vs iPhone XR price and availability The iPhone 12 landed in shops on October 23, 2020. Prices for Apple’s current flagship range from $799 / £799 / AU$1,349 for the 64GB model, to $949 / £949 / AU$1,599 for 256GB. The 128GB model tucked in-between costs $849 / £849 / AU$1,429. Two years prior to the iPhone 12 hitting shops, the iPhone XR went on sale. From October 26, 2018, you could grab the 64GB model for $749 … [Read more...] about iPhone 12 vs iPhone XR: two years is a long time in smartphones

Swedish payments firm Trustly said on Monday it intends to list its shares on the Nasdaq Stockholm exchange. In January, Reuters reported that Trustly's owner, buyout group Nordic Capital, was in the process of hiring more banks with a view to launching an IPO in late April or early May that could value the firm at up to 9 billion euros ($10.70 billion). "We are going to raise 8 billion Swedish crowns primary proceeds that we will use to pay off existing debt facilities, and then we want to have a net cash positive balance sheet," Chief Executive Officer Oscar Berglund told Reuters. The appeal of financial technology companies has increased during the COVID-19 pandemic as more people shop online and make payments digitally to avoid physical contact. Other European fintech firms such as Wise and Klarna are also planning for a stock market listing. "This is sort of a process that we have been working on for a year now to prepare the company and make it ready for the … [Read more...] about Payments firm Trustly plans Nasdaq Stockholm listing