When financial institutions want to offer a debit card or credit card, they hire an issuing processor to help them with those services. When they want to offer merchants the ability to accept cards, they sign up with an acquiring processor. But when it comes to cross border payments and international fund transfers generally, banks…
Monthly Archives: September 2022
Denim, the fintech platform for freight and logistics formerly known as Axle Payments, today announced that it raised $126 million in a Series B funding round led by Pelion Venture Partners with participation from Crosslink Capital, Anthemis, Trucks VC, FJ Labs, Tribeca Early Stage Partners and Refashiond Ventures at a “nine-figure” valuation. CEO and co-founder…
Big news in the world of digital creative technology: Adobe today announced that it would acquire Figma for $20 billion, taking out one of its biggest rivals in the realm of digital design. Both the WSJ and Bloomberg reported earlier this morning that Adobe was close to announcing the deal to acquire Figma. In the…
AI Dungeon realized the dream many gamers have had since the ’80s: an evolving storyline that players themselves create and direct. Now, it’s going further with a new feature that enables players to generate images that illustrate those stories. Developed by indie game studio Latitude, which was initially a one-person operation, AI Dungeon writes dialogue…
European Union lawmakers have proposed a new set of product rules to apply to smart devices that’s intended to compel makers of Internet-connected hardware — such as ‘smart’ washing machines or connected toys — to pay fulsome attention to device security. The proposed EU Cyber Resilience Act will introduce mandatory cybersecurity requirements for products that…
The US has been a helping hand in Europe’s energy crisis as Russia cuts supply to the continent. Tetra Images – Dan Bannister/Getty Images US shale leaders said the industry can’t bail out energy-strapped Europe with increased oil and gas supplies. They said they can’t step up production fast enough to avert Europe’s winter shortages,…
Yvon Chouinard is giving away Patagonia, worth about $3 billion. Getty Images Patagonia’s owner doesn’t own a cellphone or computer, The New York Times reported. Yvon Chouinard lived out of his car and ate cat food as a professional rock climber in the 1960s. The 83-year-old is giving away Patagonia, worth about $3 billion, to…
Badiraguato, the hometown of former Sinaloa Cartel chief Joaquin “El Chapo” Guzmán, in Sinaloa state. RASHIDE FRIAS/AFP via Getty Images A new generation of narcos are taking over in some of Mexico’s most powerful criminal groups. They’re bringing some changes to the drug trade, including new music to celebrate their exploits. Their “narco-corridos” are now…
President Vladimir Putin attends the plenary session of the Eastern Economic Forum, on September 7, 2022 in Vladivostok, Russia. Contributor/Getty Images The head of the European Commission said that the EU should have listened to warnings about Putin. Some EU and non-EU countries had said “for years that Putin would not stop,” Ursula von der…
One of Alexei Kuzmichev’s superyachts was immobilized in Cannes, France. REUTERS/Sergei Karpukhin Alexei Kuzmichev, a sanctioned Russian banker, has sued French authorities, per Bloomberg. He claimed they had no right to board and immobilize two of his yachts, the report said. The yachts, worth nearly $100 million in total, were seized by French authorities in…