PayPal lays off about 2,500 employees as the digital payment service faces increased competition and lower profits. CEO Alex Chriss said right-sizing is necessary to accelerate delivery and growth.
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Amazon's contactless payment system that works using your palm is expanding all 500+ Whole Foods stores. The rollout of the palm recognition technology will be completed by the end of this year.
Apple is reportedly having active discussions with Indian authorities and officials to bring Apple Pay to India. As of now, there is no timeline for the possible launch of the payment service.
Facebook is ramping up its digital payments efforts with the formation of a new group within the company, called F2. David Marcus, co-creator of the Libra cryptocurrency project, will lead the group.
Thanks to the most recent update released for the Truecaller app, many Indians may have found themselves automatically signed up for Truecaller's own payment service without their permission.
Facebook has confirmed that it is shutting down Messenger's peer-to-peer mobile payment system in the UK and France from June 15 in a move seen as part of its shift to cryptocurrency.
