Wed, 29/10/14 – 12:23 | No Comment

Reddit isn’t just a social sharing and commentary site anymore. Now, with the release of Redditmade, it’s a crowd-sourced funding site as well. Interestingly, Redditmade works as a sort of mashup of Reddit and traditional …

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Snapchat unveils partnership with Square
Fri, 21/11/14 – 7:14 | No Comment

Mobile messaging firm Snapchat unveiled a new service that allows users to send money to each other.

Snapcash is the result of collaboration with Square, an online payment firm that also offers a stand-alone friend-to-friend payment app known as Square Cash.

“The product you’re seeing today is fast, fun, and incredibly simple,” said Snapchat in a blog post.

The actual cash transfers in the new service will be handled by Square.

“Square has a ton of experience in this area and our teams have been hard at work to make Snapcash a great experience for everyone,” it added.

For now, the new service is available only to Snapchat users in the United States aged 18 and over who have a debit card. Around half of Snapchat users are 17 or younger.

A Snapchat spokesperson revealed that the new service will be rolled out immediately on Android, while iOS availability is expected soon.

When a Snapchat user signs up for Snapcash, they are effectively creating a Square account at the same time. Users are required to add a debit card, which will then be stored by Square.

After the initial setup, transferring money is straightforward, with users simply starting a chat on a smartphone, typing a dollar sign including the amount, and hitting the green button.

Snapchat declined to divulge the financial details of the partnership. The new service is part of Snapchat’s efforts to boost its moneymaking capabilities while moving beyond its chat application origins. Recently, the company started running advertisements on its service.

Snapcash is an intriguing addition to the mobile payment and money transfer sector that is currently being led by PayPal and Venmo.


Samsung considers reducing smartphone models next year
Fri, 21/11/14 – 7:12 | No Comment

Samsung’s head of investor relations, Robert Yi, said during a New York presentation that the company plans to cut the number of smartphone models it produces next year by about 25 to 30 per cent.
The …

TRUSTe settles FTC charges of deceit for Privacy Seal program
Mon, 17/11/14 – 22:43 | No Comment

TRUSTe, Inc., one of the largest providers of privacy certifications for online businesses, has agreed to settle a Federal Trade Commission suit alleging that they deceived consumers about their recertification program for privacy practices on …

Alibaba Singles’ Day sales hit $9.3b
Fri, 14/11/14 – 8:58 | No Comment

E-commerce giant Alibaba saw total sales on Singles’ Day hit a new record of $9.3 billion.

Home decor emerged as a popular product category, with the company selling more than 1.2 million big home appliances and more than three million light products.

Samsung to build second smartphone factory in Vietnam
Fri, 14/11/14 – 8:01 | No Comment

Samsung Electronics plans to spend up to US$3 billion to build its second smartphone factory in Vietnam, revealed a government official.

The South Korean company wants to build the factory in the Thai Nguyen province, which is also home to its US$2 billion smartphone plant.

Obama Talks Net Neutrality, But Not Everyone Is On Board
Tue, 11/11/14 – 0:30 | No Comment

President Obama took a strong stance on net neutrality – the idea of keeping the Internet neutral and open – Monday in an open video statement on the subject. In about two minutes, the president …

35 per cent of Brits keen on drone delivery
Fri, 7/11/14 – 8:13 | No Comment

A significant proportion of UK adults believe that drone delivery could work for them, according to study by British freight company MetaPack.

UK Treasury seeks experts for Bitcoin debate
Fri, 7/11/14 – 8:03 | No Comment

In order to properly regulate cryptocurrencies, the UK Treasury plans to consult the general public, financial watchdogs, law enforcement agencies, members of the Bitcoin community, and financial technology companies.

Rite Aid and CVS block Apple Pay
Fri, 31/10/14 – 7:13 | No Comment

Rite Aid and CVS have joined some of the world’s biggest retailers in shunning the new Apple Pay system.

Earlier this month, Apple Pay was introduced to more than 220,000 stores, but retailers such as Best Buy, Target, 7-Eleven and Walmart were not among Apple’s long list of partners.

Allegedly AT&T misled clients with unlimited data
Fri, 31/10/14 – 7:07 | No Comment

The US Federal Trade Commission (FTC) has recently lodged a federal lawsuit against AT&T for misleading customers regarding the telco’s Unlimited Data Plans, according to The New York Times.

Online labour markets booming
Fri, 24/10/14 – 3:54 | No Comment

According to an expert from CoachMarket, a platform for freelance business coaches and corporate trainers, online marketplaces where clients and businesses can hire freelance workers are flourishing.

Apple registers strong Q4 results
Fri, 24/10/14 – 3:46 | No Comment

Apple posted better-than-expected results for the fiscal fourth quarter of 2014, which ended on 28 September, with revenues at $42.14 billion and earnings per share at $1.42.

Businesses lose an average of $12.7M a year to cybercrime
Mon, 20/10/14 – 0:36 | No Comment

The fifth annual Cost of Cybercrime report from the Ponemon Institute found that businesses lose an average of $12.7 million to cybercrime. This is up 9.7 percent over the previous report’s study, indicating that the …