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Tag: digital

Japan Post, Rakuten tie-up in digital delivery, cashless pay

Technology
Japan’s giant postal system says it is investing about $ 1.4 billion, for an 8% stake in the e-commerce venture Rakuten to strengthen a partnership in deliveries, fintech and other areasBy YURI KAGEYAMA AP Business WriterMarch 13, 2021, 3:38 AM• 2 min readShare to FacebookShare to TwitterEmail this articleTOKYO -- Japan’s postal system is investing 150 billion yen ($ 1.4 billion) in an 8% stake in the e-commerce venture Rakuten to strengthen a partnership in deliveries, fintech and other areas.Rakuten's shares shot up 8.6% in Tokyo trading Friday on news of the tie-up with Japan Post. Japan Post's gained 4.9%.Japan Post Holdings President Hiroya Masuda said Friday that the deal brought together “the digital and the real.”The cooperation between the old-style analog mail and Rakuten, foun...
Cyber security critical for digital banking success: SBI official

Cyber security critical for digital banking success: SBI official

Finance
Cyber security is critical for the success of digital banking and banks should create the infrastructure to win customers' trust for all such transactions, a senior SBI official said on Wednesday. Digital banking or Figital is here to stay and is the future but it is equally important to safeguard the interests of all stakeholders, (SBI) Deputy Managing Director and Chief Digital Officer Ravindra Pandey said at a webinar. "It is important to win the customers' trust in any system. It is the objective of banks to create and win the customers' trust, such that all transactions are routed through banks as is presently done by multiple payment apps," Pandey was quoted as saying in a release issued by industry body PHD Chamber of Commerce & Industry. The official said that has bought abou...
BA parent firm demands digital health passes to help reopen skies as it dives to £6.5bn loss

BA parent firm demands digital health passes to help reopen skies as it dives to £6.5bn loss

Business
The parent firm of British Airways has called for the introduction of digital health passes to help reopen the skies while revealing a €7.4bn (£6.5bn) annual loss as a result of coronavirus pandemic disruption.International Airlines Group (IAG) demanded a global approach, with common testing standards, as the travel industry reels from a disastrous 12 months that has largely grounded fleets and led to tens of thousands of job losses. The operating loss revealed by the company, which also includes Iberia and Aer Lingus among its stable of airlines, compares with profits of €2.6bn (£2.2bn) during 2019 - before COVID-19 struck its operations.Live COVID updates from the UK and around the world Much of the bottom line loss was blamed on a pre-tax charge of just over €3bn (£2.6bn) on fuel an...
Irdai cautions public not to fall prey to fraud by Digital National Motor Insurance

Irdai cautions public not to fall prey to fraud by Digital National Motor Insurance

Finance
NEW DELHI: Insurance sector regulator Irdai has cautioned the general public against falling prey to fraud and cheating by Digital National Motor Insurance in selling policies without a license. It has been brought to the notice of Irdai that an entity by the name of Digital National Motor Insurance operating from Bangalore has been selling insurance policies, although it has not been licensed or granted registration by the authority to sell insurance policy of any kind, the regulator said in a public notice. The company's website is https://dnmins.wixsite.com/dnmins. The email-id of the entity is digitalpolicyservices@gmail.com. "The Authority cautions the public not to make any transaction related to insurance business with M/s DIGITAL NATIONAL MOTOR INSURANCE," Insurance Regulatory a...

China plans to hand out $1.5 million in a digital currency test during the Lunar New Year

Finance
Men wearing face masks walk past a Gap store at a shopping area, as the country is hit by an outbreak of the new coronavirus, in Beijing, China February 7, 2020.Jason Lee | ReutersBEIJING — China's capital city will hand out about $ 1.5 million in a limited trial of the central bank's digital currency, the municipal government announced over the weekend.That marks the third major test of the digital currency under development by the People's Bank of China. The cities of Shenzhen and Suzhou held similar experiments in the last few months.In this trial, Beijing said it will select 50,000 from a pool of applicants to receive 200 yuan, or about $ 30 each, in the digital currency. Recipients can spend the money at designated offline locations or on parts of e-commerce site JD.com during the u...