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NAS:FB, Jun 06, 07:49 UTC

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WhatsApp Gets a Raw Deal in Payments

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(Bloomberg Opinion) -- Money is many things, but it’s not fake news. So why block WhatsApp from spreading it around? Facebook Inc. CEO Mark Zuckerberg entered the fray two years ago by enabling the popular messaging service WhatsApp to send and receive money in India. But the beta version, limited to 1 million users, keeps getting blocked from becoming a full-fledged service. The troika led with 75 million, 60 million and 30 million customers transacting last month, respectively, according to TechCrunch. While Facebook Inc. deserves scrutiny globally for providing a platform for hate speech, voter manipulation and dissemination of untruth, cashless transfers is one area where WhatsApp can be a force for good. Google is so impressed it wants the U.S. Federal Reserve to consider adopting the standard. WhatsApp needs a nod from the regulator, the National Payments Corporation of India, to throw open the switch.

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Yesterday


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Target, Facebook, Warner Music: Stocks That Defined the Week

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Nike released a social-media video that flashed directives like ’Don’t turn your back on racism’ and ’Don’t sit back and be silent.’Photo: PHOTO: NIKE VIA TWITTER. Target Corp., which is based in Minneapolis, closed more than 200 U.S. stores, boarding up many of them pre-emptively. Other retailers, including Macy’s Inc. and Apple Inc., delayed the reopening of stores due to the unrest, while chains like Kroger Co. cut back their hours. Coty on Monday also finalized its $2.5 billion deal to sell a majority stake of its professional beauty and retail hair-care businesses to KKR & Co. Shares soared 21% Monday.

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Thursday, June 04


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Facebook starts labelling state-controlled media outlet pages

FB LNKD +2 more FB LNKD AAPL AVGO

Facebook has said it will begin labelling state-run media pages in its latest effort to improve transparency across the platform. At least 18 news outlets, including Russia’s RT and China’s government-owned People’s Daily, will be subject to the new measure in a bid to “help people better understand who’s behind the news they see” on the social network, said Nathaniel Gleicher, head of cybersecurity policy. “We’re providing greater transparency into these publishers because they combine the influence of a media organisation with the strategic backing of a state,” he explained. The initial list of confirmed publishers that fall under Facebook’s new labelling policy include: Press TV, Tasnim News Agency, Algerie Presse Service, Journal ech-chaab, Russia Today, Sputnik, RIA Novosti, CCTV, Xinhua News, People’s Daily, 2M.ma, Al Aoula (Morocco), Agence Tunis Afrique Presse, La Presse (Tunisia), DPRK Today, TV 5 Thailand, Philippine News Agency and People’s Television Network.

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Facebook, PayPal Invest in Indonesian Super App Gojek

FB PYPL +1 more FB PYPL DTRUMP

SINGAPORE — Facebook Inc messaging platform WhatsApp and PayPal Holdings Inc on Wednesday said they have invested in payment, food delivery and ride-hailing app operator Gojek as part of the Indonesian firm's ongoing fundraising round. WhatsApp and PayPal did not disclose the size of the investment. A Gojek investor told Reuters the Facebook investment, the first for the firm in Southeast Asia, was "meaningful". According to a regulatory filing, Facebook now owns a 2.4 percent stake in Gojek's GoPay fintech arm, while PayPal owns 0.6 percent of GoPay. WhatsApp Chief Operations Officer Matt Idema said in a blog post his company would work with Gojek "to support the growth of millions of small businesses". Reuters reported in April that Facebook was in talks with Gojek about an investment and was working with three e-wallets in Indonesia, including Gojek's GoPay, to launch mobile payment services.

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Facebook, Paypal eye digital payments market in Southeast Asia

FB PYPL

SAN FRANSISCO/NEW DELHI: With an aim to cement their position in the fast-growing digital payments market in Southeast Asia, Facebook and Paypal have invested in Gojek, Indonesia-based first and fastest growing app for ordering food, shopping, commuting and making digital payments. Matt Idema, Chief Operating Officer, WhatsApp, did not disclose the sum the company has invested in Gojek but said the move underscores Facebook’s commitment to serving small businesses and helping bring them and their customers into the digital economy. Since its launch in 2015, the Gojek app has helped bring hundreds of thousands of merchants onto its platform, giving them access to more than 170 million people across Southeast Asia. Digital payments are safer than cash, both for businesses and customers. And digital payments help more people participate in the economy and give businesses access to credit which is crucial for business growth,” Idema said in a statement on Tuesday. “The payment sector is still underserviced and the opportunity in Southeast Asia’s emerging markets like Indonesia is worth billions of dollars. For Gojek, they will be able to embed Facebook’s digital wallet offering (like WhatsApp Pay) on their platform of lifestyle services across shopping, transport etc,” Liu told IANS.

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Wednesday, June 03


News

Facebook And PayPal Invest In Indonesian App Gojek

FB PYPL

Facebook Inc. (FB) and PayPal Holdings (PYPL) are investing in Indonesian payment, food delivery and ride-hailing app operator Gojek. The investment is made as part of Gojek’s current fundraising round. Facebook said Gojek is Indonesia’s first and fastest growing app for ordering food, shopping, commuting, and making digital payments across Southeast Asia. Gojek said the new investment will help its target to boost Southeast Asia’s digital economy, with a focus on payments and financial services in the region. As part of a commercial agreement, PayPal’s payment tools will be integrated into Gojek’s services and the two companies will also collaborate to allow customers of GoPay, Gojek’s digital wallet, to gain access to PayPal’s network of more than 25 million merchants around the world.

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Facebook, Paypal eye digital payments market in Southeast Asia (Ld)

FB PYPL

San Francisco/New Delhi, June 3 (IANS) With an aim to cement their position in the fast-growing digital payments market in Southeast Asia, Facebook and Paypal have invested in Gojek, Indonesia-based first and fastest growing app for ordering food, shopping, commuting and making digital payments. Matt Idema, Chief Operating Officer, WhatsApp, did not disclose the sum the company has invested in Gojek but said the move underscores Facebook's commitment to serving small businesses and helping bring them and their customers into the digital economy. Since its launch in 2015, the Gojek app has helped bring hundreds of thousands of merchants onto its platform, giving them access to more than 170 million people across Southeast Asia. According to Meng Liu, an analyst with global market research firm Forrester, Facebook can now expand its digital payment and financial services to Indonesia and more broadly to the Southeast Asian market. "The payment sector is still underserviced and the opportunity in Southeast Asia's emerging markets like Indonesia is worth billions of dollars. For Gojek, they will be able to embed Facebook's digital wallet offering (like WhatsApp Pay) on their platform of lifestyle services across shopping, transport etc," Liu told IANS.

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WhatsApp, Paypal invest in Indonesian payment and ride-hailing firm Gojek - News Brig

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SINGAPORE (Reuters) – Facebook Inc (FB.O) messaging platform WhatsApp and Paypal Holdings Inc (PYPL.O) on Wednesday said they have invested in payment and ride-hailing firm Gojek as part of the Indonesian firm’s ongoing fundraising round. WhatsApp and Paypal did not disclose the size of the investment or the stakes they would receive. WhatsApp Chief Operations Officer Matt Idema in a blog post said the messaging platform would work with Gojek “to support the growth of millions of small businesses”. Reuters reported in April that Facebook was in talks with Gojek about an investment and was working with three e-wallet operators in Indonesia, including Gojek’s GoPay, to launch mobile payment services in Southeast Asia’s largest economy. Online lending had been one of the hottest sectors in recent years, as new players bet that a digital approach meant they could lend profitably to entities that banks found too costly or bothersome. Asian online lenders raised more than $4 billion in 2017 and 2018, with Indian and Indonesian companies most prominent, according to data provider Tracxn. In India there are nearly 500 online lending start-ups, and roughly 160 in Indonesia, many backed by Chinese money. Some are peer-to-peer platforms (P2P), which match borrowers with individual lenders who hope to earn a higher return on savings; others use their own funds or partner with other institutions.

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Facebook, PayPal Back Gojek’s Asia Digital Payments Push

FB PYPL

It’s the second international investment Facebook has made in the past six weeks with a goal of getting more local businesses online, after the social media giant paid $5.7 billion for about 10% of India’s Reliance Jio. It plans to build a commerce and payments business around WhatsApp, on top of letting businesses use the messaging service to interact with customers. Gojek is now backed by some of the world’s largest internet companies from Alphabet Inc.’s Google to China’s Tencent Holdings Ltd., helping it compete against Singapore’s Grab Holdings Inc. “WhatsApp in particular can be instrumental in creating a more digital Indonesia by bringing more people into one of the fastest growing digital economies in the world,” WhatsApp Chief Operating Officer Matt Idema said in a blog post. Facebook and PayPal join Google and other U.S. corporations in staking out a relatively undeveloped Asian digital payments arena outside of China.

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WhatsApp, PayPal invest in Indonesian super app Gojek

FB PYPL

Visit our Privacy Policy to learn more or manage your personal preferences in our Cookie Consent Tool. WhatsApp, PayPal invest in Indonesian super app Gojek. SINGAPORE (Reuters) - Facebook Inc (FB.O) messaging platform WhatsApp and PayPal Holdings Inc (PYPL.O) on Wednesday said they have invested in payment, food delivery and ride-hailing app operator Gojek as part of the Indonesian firm's ongoing fundraising round. WhatsApp and PayPal did not disclose the size of the investment or the stakes they would receive. A Gojek investor told Reuters the WhatsApp investment was "meaningful". WhatsApp Chief Operations Officer Matt Idema in a blog post said his company would work with Gojek "to support the growth of millions of small businesses". Reuters reported in April that Facebook was in talks with Gojek about an investment and was working with three e-wallet operators in Indonesia, including Gojek's GoPay, to launch mobile payment services in Southeast Asia's largest economy.

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  • Business
  • Financial
  • Science