Visa Reports Strong Card-Spending Growth in Q3 as Travel Demand Persists
Visa reported a robust 9% growth in card-spending volume, reaching US$3.17 trillion in the last quarter, surpassing Wall Street’s expectations. The surge was driven by strong consumer demand for travel and dining out, indicating a positive outlook for the industry despite concerns about interest rate hikes. 27 July 2023 – Visa Inc. reported robust card-spending growth in the fiscal third quarter, surpassing Wall...
SoftBank and Symbotic Unite to Revolutionize Warehouses with AI in New Joint Venture
SoftBank and Symbotic have teamed up to create GreenBox Systems, a joint venture aimed at developing AI-powered warehouses. SoftBank will hold a 65% stake in the venture, with Symbotic owning the rest. The collaboration represents a strategic move by SoftBank to embrace the potential of artificial intelligence amid the excitement surrounding AI advancements. 24 July 2023 – SoftBank Group and supply-chain services provider...
WeChat Pay and Alipay Open Doors to International Credit Cards: Simplifying Transactions for Visitors to China
WeChat Pay and Alipay, China’s leading mobile payment platforms, have expanded their services to accept international credit cards, easing transactions for international visitors and tourists. As mobile payments gain popularity, cash and credit card transactions have decreased in China, making it essential for these platforms to embrace international credit cards to cater to the growing number of foreign tourists. 24 July 2023...
Mastercard Unveils Mastercard Receivables Manager: Streamlining B2B Virtual Card Payments for Global Businesses
Mastercard unveils the Mastercard Receivables Manager, an automated solution to streamline the acceptance and processing of virtual card payments for businesses. The new product aims to optimize the reconciliation of digital payments, providing suppliers with increased efficiency, early payment options, and improved visibility of cash flow. 24 July 2023 – Mastercard, a leading global payment solutions provider, has unveiled its...
Amazon’s Ambitious Kuiper Internet Satellites Project Receives $120 Million Boost at NASA’s Kennedy Space Center
Amazon announces a $120 million processing facility at NASA’s Kennedy Space Center in Florida for its Kuiper internet satellites project, which aims to deploy a network of 3,200 low Earth-orbiting satellites to provide global broadband internet coverage. As part of a roughly $10 billion investment in Kuiper, the facility will employ 50 staff and serve as a last stop for satellite processing before launch, accelerating...
SHOPLINE Celebrates 10th Anniversary, Empowering E-commerce Transformation in HK
SHOPLINE, the leading global smart commerce enabler, marks its 10th anniversary amidst the flourishing e-commerce market in Hong Kong. The company recently hosted its first New Retail industry networking event, uniting top industry leaders from Asia to explore emerging trends, offer business insights, and discuss innovative strategies for successful retail operations. 21 July 2023 – SHOPLINE, the renowned global smart commerce...
Twitter to Share Ad Revenue with Eligible Content Creators
Twitter has announced that it will share ad revenue with select content creators on its platform. Eligible creators, who meet specific criteria such as being verified users with a high number of impressions, will receive a portion of the revenue generated from ads displayed in their replies. This initiative is part of Twitter’s efforts to attract and support content creators and follows its introduction of paid subscriptions...
Elon Musk Launches xAI, a Company Aiming to Understand the Universe
Elon Musk launches xAI, a new company focused on developing an alternative to OpenAI’s ChatGPT and exploring the mysteries of the universe. The team comprises executives with backgrounds in AI from companies like Google and DeepMind, and Musk’s involvement sparks both intrigue and criticism within the industry. 14 July 2023 – Entrepreneur Elon Musk has unveiled his latest venture, xAI, a company with the ambitious...
OpenAI Faces FTC Investigation Over Potential Risks to Consumer Data and Reputations
The US Federal Trade Commission has initiated an investigation into OpenAI Inc., raising concerns about potential risks to consumer data and reputations posed by its ChatGPT conversational AI bot. This regulatory probe reflects the increasing need for ethical AI practices and responsible innovation, potentially impacting the broader AI sector. 14 July 2023 – The US Federal Trade Commission (FTC) has launched an investigation...
Amazon Prime Day Drives Impressive U.S. Online Sales Growth Amidst Inflationary Pressures
U.S. online sales during Amazon’s Prime Day event surged by 6.1% to $12.7 billion, despite inflationary pressures impacting consumers. Deep discounts on products like toys and appliances attracted shoppers looking for bargains, even as rising rental costs, mortgage rates, and food prices constrained non-essential purchases. Amazon.com’s annual Prime Day shopping event witnessed a significant boost in U.S. online sales, as...
