December 6, 2023
THE world of shopping is gradually shifting from malls to online stores. People who used to hang out at the mall now socialize over social media and through their smartphones. Mall boutique and stall owners are thus exploring more and more the opportunities of online selling. Furthermore, online platforms can accommodate a thousand more sellers
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MORE Filipino consumers are using credit cards for purchases as paying digitally has become a trend and revenge spending continues. Ma. Magdalena Surtida, Credit Card Association of the Philippines (CCAP) chairman, said that online shopping and revenge travel were still on the rise and that the industry recorded an increase in credit card receivables in
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Short video app TikTok said it will halt transactions on its platform in Indonesia from Wednesday following the country’s new ban on e-commerce trade on social media. TikTok, which is owned by China’s ByteDance, said in a statement on Tuesday that it would coordinate with Indonesia’s government regarding its future plans. Elevate Your Tech Prowess
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TikTok’s ecommerce ambitions have taken a major hit after Indonesia, one of its largest and most promising markets, banned transactions on social media platforms. Indonesian trade minister Zulkifli Hasan on Wednesday said the regulations, which apply to all social networks, aim to ensure “fair and just” competition and protect user data as well as offline
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The Unified Payments Interface (UPI), which is run by the National Payments Corporation of India (NPCI), reported 10.56 billion transactions in September, a dip from the 10.58 billion transactions reported in August, the first time the instant payment mechanism crossed the 10 billion transaction mark. In terms of the total value of funds settled, UPI
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French prosecutors are investigating financial transactions involving Bernard Arnault, the head of the LVMH luxury empire, and Nikolai Sarkisov, a Russian insurance businessman, the Paris prosecutor’s office said on Friday. An investigation was opened in 2022 and is still in its preliminary stages, the prosecutor’s office said. No one has been charged. Tracfin, an intelligence
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JAKARTA: Indonesia has banned goods transactions on social media platforms in a new regulation, its trade minister said on Wednesday, as Jakarta aims to rein in direct sales by major tech firms it says are harming millions of small businesses. Government officials in recent weeks called for social media and e-commerce to be decoupled, targeting
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NEW YORK CITY: Chase UK, JPMorgan’s British digital bank, says it will bar customers from making cryptocurrency transactions starting next month — citing an uptick in scams and fraud. From October 16 onward, Chase customers will no longer be able to make crypto transactions using their debit card or through an outgoing bank transfer, the
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Bitcoin has witnessed an extraordinary surge in transaction volume in the past week, logging over 700,000 transactions in a single day, a new data has shown. According to the data presented by the analytics firm IntoTheBlock, the number of reported Bitcoin transactions increased to nearly 703,000, representing not only the highest number recorded in 2023,
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Homegrown payments service Unified Payments Interface (UPI) has the potential to scale almost ten times and reach a couple of billion transactions a day by 2030, National Payments Corporation of India (NPCI) chief executive officer Dilip Asbe said on Tuesday. Asbe’s comments come as UPI transactions in the country hit the 10-billion mark in August.
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