article thumbnail

Chinese Social Media Startup Seeks Funds At $6B Valuation

PYMNTS

Chinese eCommerce and social media startup Xiaohongshu , also known as “Little Red Book,” wants to raise funds at a $6 billion valuation, according to Bloomberg. It eventually entered that field itself, and then it became a social media platform. It’s teamed up with a financial plan adviser to identify possible investors.

article thumbnail

India’s New Social Media Rules Would Strip Anonymity — When Asked — From Accounts

PYMNTS

They aim for more accountability in social media, which has been a worldwide trend recently as social media companies try to combat ills such as fake news, child porn and hate speech, among other things. billion residents, and the rules would cover any social media app with more than 5 million users.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Vietnam Launches New Social Media App As Facebook Alternative

PYMNTS

Vietnam is introducing a social network similar to Facebook after the Communist-ruled government asked domestic tech companies to create substitutions. Gapo, which launched on Tuesday (July 23), is a mobile app that allows members to build profiles and share posts, Reuters reported.

article thumbnail

Proposed Social Media Law Would Let Data Flow Among Platforms

PYMNTS

A proposed law created to increase competition in the tech sector would allow users to move their data between social media platforms. In other words — by enabling portability, interoperability, and delegatability, this bill will help put consumers in the driver’s seat when it comes to how and where they use social media.”.

article thumbnail

i2c: Mobile Banking, Credit Drive FinTech Opportunities Beyond The ‘Simple’ DDA

PYMNTS

At a time when the global pandemic and ensuing economic upheaval have blurred the boundaries between traditional means of payment, the CEO of global payment- and banking-solution provider i2c says the biggest business opportunity ahead will be in credit, with mobile becoming the biggest game-changer. All About Mobile. phenomenon.

Mobile 310
article thumbnail

U.K. Treasury Increasing Cryptocurrency Ad Regulations

PYMNTS

18) that it plans to regulate cryptocurrency advertising like other financial products and ensure that promotions are “fair, clear and not misleading,” according to a Bloomberg report. 17), Spain’s market regulator enhanced controls on crypto-related ads, saying they must include a warning that investors risk losing all their money.

article thumbnail

How Mobile Technology Is Changing Insurance Claims

PYMNTS

The uptick in smartphone use and availability, however, has prompted many insurance providers to enable customers to file claims from their phones, but few have implemented mobile disbursements. “I Developing that claim flow can be difficult, though, especially when it entails enabling access to mobile disbursements.

Mobile 198