article thumbnail

DOJ, State AGs Could Combine Google Investigations

PYMNTS

The probe is centered on whether Google’s monopoly of the online search world – and the ensuing advertising revenue it commands – represent an illegal form of market control. According to Wall Street Journal reports, the meeting could eventually end with the state and federal forces combining their efforts where Google is concerned.

Google 130
article thumbnail

Today In Payments: Railsbank Closes $37M Funding Deal; Google Critics Demand Prompt Antitrust Enforcement

PYMNTS

urged antitrust regulators to act fast in enforcement toward Google. banking-as-a-service (BaaS) Startup Railsbank closed a $37 million funding deal co-led by MiddleGame Ventures and Ventura Capital. Google Critics From US, UK Demand Prompt Antitrust Enforcement. Afterpay Rolls Out BNPL Cross-Border Pay For Merchants.

Google 193
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Afterpay Pushes Back Against Fee Regulation

PYMNTS

Buy now, pay later (BNPL) company Afterpay has pushed back against the Reserve Bank of Australia’s potential regulation of its fees. Afterpay has a market capitalization of around $10 billion. Afterpay CEO Anthony Eisen said the company should be seen as a sales and marketing company, more like Amazon or Google.

article thumbnail

Bank Regulators Probe Amazon Cloud

PYMNTS

The investigation was in April, ahead of the Capital One hack that resulted in the arrest of a former Amazon engineer. Capital One is just one of numerous financial institutions using Amazon’s cloud services to store customer data, igniting the question of where banks end and vendors begin. . banking system.

article thumbnail

Top 4 Chinese Tech Firms Shed $200 Billion As Regulators' Alibaba Probe Scares Away Investors

PYMNTS

Large Chinese companies, including Alibaba and rivals Tencent , food delivery giant Meituan and retailer JD.com , have lost almost $200 billion in Hong Kong since regulators announced last week that they were investigating Alibaba's reported monopolistic practices, according to Bloomberg. Regulators on Sunday (Dec.

article thumbnail

PayPal, Google Give OCC’s Bank Charter The Cold Shoulder

PYMNTS

The OCC held meetings with technology conglomerates Google , PayPal and others about the possibility of bank charters for the firms, reports in American Banker said on Monday (June 16). PayPal and the OCC declined to comment, while Google did not respond to the publication’s requests for comment.

Google 142
article thumbnail

Top News In Payments: CFPB Seeks Remittance Exemptions For Small Banks; Regulators Support Traditional Credit Evaluation Alternatives

PYMNTS

Also, federal banking regulators reportedly support using alternative methods to determine creditworthiness to help high-risk individuals get loans. And Google CEO Sundar Pichai will take over as Alphabet ’s new CEO. Google CEO Sundar Pichai Takes The Reins At Alphabet.