#Digital Payments Industry

[esglatestmarketnews]

ESG Trends and Challenges in the Digital Payments Sector

Financial institutions and technology vendors have repurposed their strategies on digital payments—more so—on the back of a dip in physical cash. Add to it the technological innovations that have leveraged online banking. Cash may still be the king; electronic payment, however, is giving a run for the money. An exponential rise in smartphone usage, surging internet penetration and growth in e-commerce have made electronic payment a force to reckon with. Meanwhile, the luxury of contactless and fast payments comes with caveats—environmental, social and governance challenges. 

Amidst climate change, a volatile economy and the Russia-Ukraine war, society, businesses and governments have exhibited a strong commitment to foster an inclusive workplace, accentuate low-carbon energy solutions, bolster transparency and create long-term value. Several financial institutions have started carbon offset programs, providing rewards and loyalty points. In September 2021, Ascenda joined forces with Patch to enable consumers to redeem their rewards points for carbon offsets, helping reduce and eliminate GHG emissions. 

PayPal Propels Science-Based Targets (SBTs)

Carbon footprints from the digital payment ecosystem have prompted financial institutions to up their sustainable strategies. A study from Cambridge inferred that Bitcoin used 80% more energy consumption in 2021 compared to the preceding year. Digital wallets reportedly consume less energy vis-à-vis cryptocurrencies, offering opportunities galore. In March 2022, Helpful rolled out digital wallets that it claims can save up to 80% of the CO2 produced from payment transactions. 

The potential risks posed by adverse weather conditions on facilities have encouraged companies, such as PayPal to underscore science-based GHG emission reduction targets. The Fintech player achieved 100% renewable energy sourcing for its data centers in 2021, while it reached 90% total energy use in 2022. The American giant formed science-based emission reduction targets—to minimize absolute operational GHG emissions by 25% by 2025. In 2022, the company set the goal to engage 75% of its suppliers (in terms of spending) to SBTs by 2025 and Its IT asset management team retired 338 metric tons of IT hardware across the data center services.

Global Payments Underscores Philanthropic Activities

The social criterion emphasizes a shifting business environment where companies are gearing up to enhance workplace diversity, financial literacy, social equity and health & wellness. In 2021, Global Payments Plano, Texas office teamed up with the National Breast Cancer Foundation (NBCF) and collected USD 1,600 for charity. Besides, the Lindon, Utah team formed a canned food drive to donate 2,500 cans to a local food bank. Taking the philanthropic work further, the company doled out USD 5 million in 2021 to underpin several organizations, such as Red Cross, the American Heart Association, UNCF, Leukemia & Lymphoma Society, Susan G. Komen and Mercer Medical School.

To reinforce financial literacy and economic inclusion, the Fintech company offers around 4 million (especially small and medium-sized businesses) locations globally with digital commerce solutions, allowing acceptance of more than 140 payment methods. Meanwhile, the U.S.-based company has propelled its DEI strategies to augment female representation to 47% and boost the number of people of color to 39% by 2025. 

Is your business one of participants to the Digital Payments Industry? Contact us for focused consultation around ESG Investing, and help you build sustainable business practices

JP Morgan Embeds Transparency and Accountability

Corporate governance has become a value proposition to impel ethics & compliance, board diversity, transparent work culture, independence and anti-corruption activities. In 2021, directors at JP Morgan were offered education on DEI, cybersecurity, its climate risk management framework and technology. The Board in the financial service company has ramped up corporate culture and values, boosting diversity in leadership positions. As of April 2022, Out of ten, there were four women directors and one black director. Further, women accounted for 37% of seats on the Operating Committee (as of December 2021). 

While digital solutions have become invaluable in the economy, data privacy and cybersecurity threats have sent alarm bells to stakeholders. The Global Cybersecurity and Technology Controls organization analyzes changes in global threats and monitors JP Morgan’s operations. In 2022, the company was involved in policy issues, such as software bills of materials, evolving U.S. National Institute of Standards and Technology (NIST), zero trust and notification. The need to protect the global financial system and underpinning cybersecurity will help companies achieve ESG goals. 

Fintech players have expedited their strategies to undergird climate solutions and build financial confidence among underserved and vulnerable communities. In the 2021-2022 ESG Report, American Express announced an infusion of USD 3 billion toward DEI initiatives and underrepresented groups through 2025. During the Earth Month of 2022, the financial service company asserted that at least 70% recycled or reclaimed plastic would be used to make most plastic cards by 2024. The rising footprint of contactless- and card payments against the backdrop of the COVID-19 pandemic has made electronic payment the next big thing. The global digital payments market size stood at USD 68.61 billion in 2021 and will expand at a CAGR of 20.5% between 2022 and 2030, reports Grand View Research. 

Related Reports: 

Digital Lending Industry ESG: https://astra.grandviewresearch.com/digital-lending-industry-esg-outlook

Real-time Payments Industry ESG: https://astra.grandviewresearch.com/real-time-payments-industry-esg-outlook

E-commerce Industry ESG: https://astra.grandviewresearch.com/e-commerce-industry-esg-outlook

About Astra – ESG Solutions by Grand View Research

Astra is the Environmental, Social, and Governance (ESG) arm of Grand View Research Inc. - a global market research publishing & management consulting firm.

Astra offers comprehensive ESG thematic assessment & scores across diverse impact & socially responsible investment topics, including both public and private companies along with intuitive dashboards. Our ESG solutions are powered by robust fundamental & alternative information. Astra specializes in consulting services that equip corporates and the investment community with the in-depth ESG research and actionable insight they need to support their bottom lines and their values. We have supported our clients across diverse ESG consulting projects & advisory services, including climate strategies & assessment, ESG benchmarking, stakeholder engagement programs, active ownership, developing ESG investment strategies, ESG data services, build corporate sustainability reports. Astra team includes a pool of industry experts and ESG enthusiasts who possess extensive end-end ESG research and consulting experience at a global level.

For more ESG Thematic reports, please visit Astra ESG Solutions, powered by Grand View Research

[hrtechnology25]

Why CIOs need embedded finance technology to moderniz

As technology becomes increasingly important to the success of any business, CIOs face a new challenge to leverage tech and deliver winning business capabilities. Previously, digital transformation decisions often took a backseat to other business initiatives. However, the move from archaic systems to emerging technologies has become a requirement to survive the constantly changing environment. Navigating our new normal and maintaining a competitive edge now falls on CIOs’ shoulders. 

CIO priorities have been redefined due to recent market expansion, skyrocketing consumer expectations and behaviors, and disruptions to traditional business models. Currently, CIOs carry the burden of producing a significant impact within their organizations through digital transformation. The 2023 Gartner CIO and Technology Executive survey of over 2,000 CIOs in 81 countries and all major industries revealed that CIOs expect IT budgets to increase 5% on average this year. In an increasingly tech-driven business landscape, CIOs are expected to move beyond simply managing IT to leveraging technology to create value for the business. 

Unfortunately, many tech decisions don’t get sufficient business scrutiny beyond cost and high-level strategy discussions. Corporate leaders can struggle to see the measurable value of digital transformation as they don’t understand or believe that it positively impacts the bottom line. Without a strategic approach, unsuccessful transformations are expensive, time-consuming, and not worth the effort—only 31% succeed because most are not planned or executed without a realistic year-over-year transformation game plan. This is where CIOs can articulate to other C-suite executives how the business can best use technology to develop digital-enabled capabilities that generate revenue, improve profit margins, or advance the company’s mission.

More Info: https://fintecbuzz.com/why-cios-need-embedded-finance-technology-to-modernize/

For more such Updates Log on to https://fintecbuzz.com/ Follow us on Google News Fintech News

[medical-billing-service-0]

Optimizing Financial Management with Chiropractic Billing Services

In the healthcare sector, chiropractic care plays a vital role in managing musculoskeletal conditions, improving mobility, and enhancing patients' overall quality of life. However, managing the financial aspects of a chiropractic practice can be challenging due to the unique nature of treatments, frequent patient visits, and varying insurance policies. This is where medical billing services come into play, ensuring that chiropractic practices can focus on providing care while their financial operations run smoothly. These services streamline the billing process, minimize errors, and enhance reimbursement rates, which ultimately leads to better revenue management for chiropractic practices.

What Are Chiropractic Billing Services?

Chiropractic billing services are specialized financial solutions designed to meet the unique needs of chiropractic practices. These services are a critical component of Revenue Cycle Management (RCM) services, which oversee the entire process of patient billing, from claim submission to final payment. Chiropractic billing services handle everything from insurance verification and coding of chiropractic adjustments to following up on claims and managing denials. Since chiropractic care often involves ongoing treatments and multiple patient visits, these billing services ensure that claims are submitted accurately and promptly, reducing delays and maximizing revenue.

The Importance of Medical Billing and Coding in Chiropractic Care

Accurate medical billing and coding is essential for chiropractic practices to ensure that they are compensated for the services they provide. Chiropractic care involves various treatments, such as spinal adjustments, physical therapy, and other therapeutic services, each of which requires precise coding to avoid errors. Incorrect or incomplete coding can lead to claim denials or underpayments, which can negatively affect a practice’s cash flow. By partnering with experienced billing professionals who specialize in medical billing and coding, chiropractic practices can ensure that their claims are submitted correctly and in compliance with industry standards, leading to improved financial outcomes.

Benefits of Healthcare IT in Chiropractic Billing

In the digital age, Healthcare IT has transformed the way billing services are managed, offering numerous benefits for chiropractic practices. Advanced billing software and electronic health record (EHR) systems streamline the billing process by automating tasks such as claim submission, coding, and patient record management. Healthcare IT reduces human error, speeds up payment cycles, and allows for better communication between chiropractic providers and insurance companies. Additionally, real-time tracking and reporting features enable chiropractic practices to monitor the status of claims and payments, ensuring that revenue is managed efficiently. Healthcare IT enhances both the accuracy and efficiency of chiropractic billing, leading to improved practice operations.

Chiropractic Billing Services at Mediclaim Management

Mediclaim Management offers specialized Chiropractic Billing Services designed to meet the needs of chiropractic practices. With a deep understanding of the unique challenges that chiropractors face, their team of billing experts ensures that all aspects of the billing process are handled with precision and care. Mediclaim Management’s Chiropractic Billing Services help providers reduce billing errors, increase claim approval rates, and expedite reimbursements. By partnering with Mediclaim Management, chiropractic practices can focus on delivering high-quality care to their patients while ensuring that their financial operations run smoothly in the background.

With Mediclaim Management’s Chiropractic Billing Services, chiropractic providers can optimize their revenue cycle, reduce financial stress, and ensure that their practice remains financially healthy. This allows chiropractors to focus on what truly matters—improving the health and well-being of their patients.

[techjour]

UK based Sokin secured $31 M funding from Morgan Stanley. It offers services to 500 businesses across different verticals across the globe. Sokin is a global cross border payment provider that empowers businesses to manage payment swiftly, efficiently and transparently.

[yusuke-of-valla]

WE LIVE IN A HELL WORLD

Snippets from the article by Karissa Bell:

SAG-AFTRA, the union representing thousands of performers, has struck a deal with an AI voice acting platform aimed at making it easier for actors to license their voice for use in video games. ...

the agreements cover the creation of so-called “digital voice replicas” and how they can be used by game studios and other companies. The deal has provisions for minimum rates, safe storage and transparency requirements, as well as “limitations on the amount of time that a performance replica can be employed without further payment and consent.”

Notably, the agreement does not cover whether actors’ replicas can be used to train large language models (LLMs), though Replica Studios CEO Shreyas Nivas said the company was interested in pursuing such an arrangement. “We have been talking to so many of the large AAA studios about this use case,” Nivas said. He added that LLMs are “out-of-scope of this agreement” but “they will hopefully [be] things that we will continue to work on and partner on.”

...Even so, some well-known voice actors were immediately skeptical of the news, as the BBC reports. In a press release, SAG-AFTRA said the agreement had been approved by "affected members of the union’s voiceover performer community." But on X, voice actors said they had not been given advance notice. "How has this agreement passed without notice or vote," wrote Veronica Taylor, who voiced Ash in Pokémon. "Encouraging/allowing AI replacement is a slippery slope downward." Roger Clark, who voiced Arthur Morgan in Red Dead Redemption 2, also suggested he was not notified about the deal. "If I can pay for permission to have an AI rendering of an ‘A-list’ voice actor’s performance for a fraction of their rate I have next to no incentive to employ 90% of the lesser known ‘working’ actors that make up the majority of the industry," Clark wrote.

SAG-AFTRA’s deal with Replica only covers a sliver of the game industry. Separately, the union is also negotiating with several of the major game studios after authorizing a strike last fall. “I certainly hope that the video game companies will take this as an inspiration to help us move forward in that negotiation,” Crabtree said.

And here are some various reactions I've found about things people in/adjacent to this can do

And in OTHER AI games news, Valve is updating it's TOS to allow AI generated content on steam so long as devs promise they have the rights to use it, which you can read more about on Aftermath in this article by Luke Plunkett

[foxnangelseo]

Smart Money Moves: Trends in Fintech Investments in the Indian Market

Fintech, short for financial technology, refers to the innovative use of technology to provide financial services, automate processes, and enhance efficiency within the financial industry. It encompasses a wide range of applications, including mobile banking, peer-to-peer lending, robo-advisors, blockchain technology, and digital payments. Fintech companies leverage cutting-edge technologies to revolutionize traditional financial services and create new, more accessible solutions.

The importance of fintech is multifaceted and extends across various sectors. One key aspect is financial inclusion. Fintech has the potential to bring financial services to underserved or unbanked populations by offering accessible and affordable alternatives to traditional banking. Mobile banking, for example, allows individuals in remote areas to access financial services through their smartphones, promoting economic participation and reducing the financial gap.

Efficiency and cost-effectiveness are also critical benefits of fintech. Automation and digitization streamline processes, reducing operational costs for financial institutions and improving overall efficiency. This translates into quicker and more convenient services for consumers. Additionally, the use of data analytics and artificial intelligence in fintech enables more accurate risk assessments, fraud detection, and personalized financial advice, enhancing the overall customer experience.

Fintech contributes significantly to the democratization of investments. Platforms like robo-advisors provide affordable and automated investment advice, making it easier for individuals with varying levels of financial knowledge to participate in the financial markets. Peer-to-peer lending platforms enable borrowers to access funds directly from individual investors, creating a more inclusive lending environment.

Blockchain technology, a decentralized and secure ledger system, plays a pivotal role in fintech. It facilitates transparent and tamper-proof transactions, reducing the risk of fraud and enhancing the security of financial transactions. This technology has the potential to revolutionize areas such as cross-border payments, supply chain finance, and smart contracts.

Digital payments are another integral aspect of fintech that has transformed the way we conduct transactions. Mobile wallets, contactless payments, and cryptocurrency transactions offer convenient alternatives to traditional cash and card payments. This not only enhances the speed of transactions but also contributes to a more seamless and inclusive financial ecosystem.

In recent years, India has emerged as a hotspot for fintech investments, with a rapidly growing ecosystem that is transforming the financial landscape. As investors seek promising opportunities, the Indian fintech sector has become a focal point for smart money moves. In this blog, we'll explore the current trends in fintech investments in India, highlighting key areas of growth and the reasons behind the increasing interest.

Investing in India's Fintech Boom:1. Digital Payments Revolution:

The digital payments sector in India has witnessed a significant surge, fueled by initiatives like the Unified Payments Interface (UPI) and the government's push towards a cashless economy. Investors are drawn to companies offering seamless, secure, and user-friendly payment solutions. Mobile wallets, payment gateways, and contactless payment options have become key areas of focus, with numerous startups gaining traction.

2. Lending Platforms:

Fintech lending platforms have revolutionized the borrowing landscape in India. Peer-to-peer lending, digital lending platforms, and alternative credit scoring models have attracted substantial investments. These platforms address the credit needs of a large population previously underserved by traditional banking institutions, making them appealing to investors seeking inclusive financial solutions.

3. Wealth Management and Robo-Advisors:

The wealth management segment is experiencing a paradigm shift with the rise of robo-advisors. Automated investment platforms that offer algorithm-based portfolio management are gaining popularity. Investors are keen on startups that provide cost-effective and efficient wealth management services, making it easier for individuals to invest in India's dynamic market.

4. Blockchain and Cryptocurrency:

India has witnessed a growing interest in blockchain technology and cryptocurrencies. Despite regulatory uncertainties, investments in blockchain startups and cryptocurrency exchanges have been on the rise. Investors see the potential for transformative changes in sectors like supply chain, remittances, and cross-border transactions through blockchain, making it a compelling area for investment.

5. Insurtech Innovations:

The insurance sector is undergoing a digital transformation with the advent of insurtech. Companies leveraging technology to streamline insurance processes, enhance customer experience, and provide innovative products are attracting substantial investments. Insurtech startups focusing on personalized policies, digital claims processing, and IoT-based risk assessment are gaining attention from investors.

Why Invest in India's Fintech Sector:

1. Large Untapped Market:

India's vast population, coupled with a growing middle class, presents a massive untapped market for financial services. Fintech companies addressing the unique needs of this diverse market have the potential for exponential growth, making them attractive investment opportunities.

2. Government Initiatives:

The Indian government's initiatives, such as 'Digital India' and 'Make in India,' have created a conducive environment for fintech growth. Regulatory support, coupled with policies encouraging innovation and entrepreneurship, provides a favorable landscape for investors looking to invest in India's fintech boom.

3. Tech-Savvy Demographics:

India's young and tech-savvy population is increasingly adopting digital financial services. Mobile penetration and internet usage have grown rapidly, creating a favorable environment for fintech adoption. Investors recognize the potential of reaching a broad customer base through digital channels.

India's fintech sector, fueled by a large untapped market, government initiatives, and a tech-savvy demographic, stands as a beacon for smart money moves. The strategic investments made in digital payments, lending platforms, wealth management, blockchain, and insurtech not only cater to the evolving needs of consumers but also contribute to financial inclusion on an unprecedented scale.

The government's visionary initiatives, like 'Digital India' and 'Make in India,' have not only laid the groundwork for fintech expansion but have also cultivated an environment where innovation thrives. Regulatory support and a commitment to fostering entrepreneurship underscore the commitment to creating a vibrant ecosystem that attracts both domestic and international investors.

The potential for transformative change in sectors like peer-to-peer lending, robo-advisory services, and insurtech is not only reshaping the financial services landscape but also redefining how individuals perceive and interact with finance. The rise of fintech is not just a trend; it's a seismic shift that is reshaping the way transactions are conducted, investments are managed, and financial services are accessed.

As the smart money continues to flow into India's fintech ecosystem, there is a sense of anticipation regarding the untapped potential and opportunities yet to be explored. The journey ahead involves not only financial gains for investors but also a broader impact on financial inclusion, economic growth, and the empowerment of individuals across diverse socio-economic backgrounds.

In conclusion, investing in India's fintech sector is not just about allocating funds; it's about being part of a transformative journey that is reimagining the very fabric of finance. As stakeholders contribute to this evolution, the convergence of technology, innovation, and a burgeoning market creates an environment where the smartest money moves are not just investments; they are catalysts for change in one of the world's most promising fintech ecosystems. The story of fintech in India is still unfolding, and those who invest wisely now are poised to be integral players in shaping its vibrant and impactful future.

This post was originally published on: Foxnangel

[foodcourt-billing-software]

Prepaid Cards Revolutionize Cashless Dining in Food Courts

Introduction to Prepaid Cards

In today's fast-paced world, convenience is paramount, especially when it comes to dining out. Prepaid cards have emerged as a revolutionary solution, offering a seamless and efficient way to enjoy cashless dining experiences. The concept of prepaid cards is not new, but their integration into food courts has sparked a significant shift in consumer behavior.

Cashless Dining Trends

The global trend towards cashless transactions has gained momentum in recent years, driven by advancements in technology and changing consumer preferences. In food courts, where speed and convenience are key, the adoption of cashless payment methods has become increasingly prevalent.

Challenges in Traditional Payment Methods

Traditional payment methods, such as cash or credit/debit cards, pose several challenges in food court settings. Cash transactions can lead to long queues and delays, while credit/debit card payments may be inconvenient for both consumers and vendors due to processing fees and minimum purchase requirements.

The Emergence of Prepaid Cards in Food Courts

To address these challenges, food courts are embracing prepaid card systems, revolutionizing the way customers pay for their meals. By preloading funds onto a card, customers can enjoy quick and hassle-free transactions, eliminating the need for cash or physical cards.

How Prepaid Cards Work

Prepaid cards operate on a simple premise: customers load funds onto their cards either online or at designated kiosks within the food court. They can then use these funds to make purchases at any participating vendor within the food court.

Advantages of Prepaid Cards in Food Courts

The benefits of prepaid cards in food courts are manifold. For consumers, they offer unmatched convenience and speed, allowing them to make purchases with a simple tap or swipe. Additionally, prepaid cards provide consumers with greater control over their spending, helping them stick to their budgets more effectively.

For food court operators, prepaid cards streamline transaction processing, reducing wait times and enhancing overall efficiency. By centralizing payments through a single platform, vendors can also gain valuable insights into consumer behavior and preferences, enabling them to tailor their offerings accordingly.

Enhanced Customer Experience

One of the key advantages of prepaid cards in food courts is the enhanced customer experience they provide. By minimizing wait times and offering seamless transactions, prepaid cards ensure that customers spend less time queuing and more time enjoying their meals.

Moreover, prepaid cards enable food court operators to implement customized loyalty programs, rewarding customers for their continued patronage. By offering incentives such as discounts or freebies, operators can further enhance the overall dining experience and foster customer loyalty.

Security and Safety Measures

Security is a top priority in any payment system, and prepaid cards are no exception. With robust encryption protocols and built-in fraud detection mechanisms, prepaid card systems offer consumers peace of mind knowing that their financial information is safe and secure.

Additionally, prepaid cards eliminate the need for consumers to carry large amounts of cash, reducing the risk of theft or loss. In the event that a card is lost or stolen, most prepaid card providers offer 24/7 customer support and the ability to freeze or deactivate the card remotely.

Adoption and Acceptance

The adoption of prepaid cards in food courts is steadily increasing, driven by the growing demand for cashless payment options. As more consumers become accustomed to the convenience and benefits of prepaid cards, food court vendors are increasingly recognizing the need to offer these payment methods to remain competitive.

Impact on Business Operations

From a business perspective, the integration of prepaid card systems can have a transformative impact on operations. By automating transaction processing and streamlining administrative tasks, vendors can reduce overhead costs and improve overall efficiency.

Moreover, prepaid card systems provide vendors with valuable data insights, allowing them to track sales trends, identify popular menu items, and target specific customer demographics more effectively. This data-driven approach enables vendors to make informed decisions that drive business growth and profitability.

Future Trends and Innovations

Looking ahead, the future of prepaid cards in food courts looks promising, with continued advancements in technology driving innovation and customization. From mobile payment solutions to personalized loyalty programs, vendors are constantly seeking new ways to enhance the customer experience and stay ahead of the competition.

Challenges and Concerns

Despite the many benefits of prepaid cards, there are also challenges and concerns that must be addressed. Chief among these is the need to ensure consumer privacy and data security. As prepaid card systems become more sophisticated, it is essential for vendors to implement robust privacy policies and security measures to protect customer information.

Additionally, accessibility remains a concern for some consumers, particularly those who may not have access to smartphones or digital payment methods. To address this issue, food courts must ensure that alternative payment options are available to accommodate all customers.

Case Studies and Success Stories

Numerous food courts around the world have already embraced prepaid card systems with great success. From small-scale vendors to large multinational chains, businesses of all sizes have reported significant improvements in transaction processing times, customer satisfaction, and overall revenue.

For example, a recent case study conducted by a major food court operator found that the implementation of prepaid card systems resulted in a 30% increase in sales and a 20% reduction in wait times. These impressive results demonstrate the tangible benefits that prepaid cards can

offer to both consumers and businesses alike.

Consumer Education and Awareness

Despite the growing popularity of prepaid cards, there is still a need for consumer education and awareness. Many consumers may be unfamiliar with how prepaid cards work or may have misconceptions about their usage and benefits. As such, food courts must invest in educational campaigns to inform consumers about the advantages of prepaid cards and how to use them effectively.

Conclusion

In conclusion, prepaid cards are revolutionizing the way consumers pay for their meals in food courts. By offering unmatched convenience, speed, and security, prepaid cards are transforming the dining experience for both customers and vendors alike. As the adoption of prepaid cards continues to grow, food courts are poised to reap the benefits of improved efficiency, increased revenue, and enhanced customer satisfaction.

We hope you enjoyed reading our blog posts about food court billing solutions. If you want to learn more about how we can help you manage your food court business, please visit our website here. We are always happy to hear from you and answer any questions you may have.

You can reach us by phone at +91 9810078010 or by email at ats.fnb@gmail.com. Thank you for your interest in our services.

FAQs

1. Are prepaid cards accepted at all vendors in the food court?

Yes, prepaid cards can typically be used at any participating vendor within the food court.

2. Can I reload funds onto my prepaid card?

Yes, most prepaid card systems allow users to reload funds either online or at designated kiosks within the food court.

3. Is my personal information secure when using a prepaid card?

Yes, prepaid card systems employ robust security measures to protect customer information and prevent unauthorized access.

4. Are there any fees associated with using a prepaid card?

Some prepaid card providers may charge nominal fees for certain services, such as reloading funds or replacing lost or stolen cards.

5. Can I earn rewards or loyalty points with a prepaid card?

Yes, many prepaid card systems offer rewards or loyalty programs that allow users to earn points or discounts on their purchases.

[fosterswiss]

Foster Swiss - Choosing the Right Offshore Account, Tips for International Private Banking

In the international private banking arena, the selection of an offshore account is of paramount importance to wealthy individuals seeking financial diversification and confidentiality. The process involves strategic steps: first, outlining precise financial goals and risk tolerance; second, research and compare various offshore jurisdictions to identify the most compatible regulatory environment, in collaboration with experts such as Foster Swiss; third, ensure strict compliance with financial regulations and measures against money laundering; fourth, assess the range of services provided by the offshore institution to align with wealth management strategies; fifth, prioritize transparency in information standards to maintain legal compliance; and finally, seeking guidance from financial advisors and specialists well-versed in the nuances of international private banking. By meticulously navigating these facets, individuals can make an astute decision regarding their offshore accounts, laying a solid foundation for effective wealth management in the global landscape.

[eonepay]

Looking for a reliable payment gateway to handle your business transactions? Say hello to Eonepay - the answer to all your payment woes! Benefit from top-notch security features that guarantee your data stays safe while you process payments seamlessly. With Eonepay, you can even file your Export General Manifest (EGM) with ease, saving valuable time and resources.

Visit here: https://www.eonepay.in/

[esglatestmarketnews]

ESG Metrics and Reporting in the Digital Payments Industry

Financial institutions and technology vendors have repurposed their strategies on digital payments—more so—on the back of a dip in physical cash. Add to it the technological innovations that have leveraged online banking. Cash may still be the king; electronic payment, however, is giving a run for the money. An exponential rise in smartphone usage, surging internet penetration and growth in e-commerce have made electronic payment a force to reckon with. Meanwhile, the luxury of contactless and fast payments comes with caveats—environmental, social and governance challenges. 

Amidst climate change, a volatile economy and the Russia-Ukraine war, society, businesses and governments have exhibited a strong commitment to foster an inclusive workplace, accentuate low-carbon energy solutions, bolster transparency and create long-term value. Several financial institutions have started carbon offset programs, providing rewards and loyalty points. In September 2021, Ascenda joined forces with Patch to enable consumers to redeem their rewards points for carbon offsets, helping reduce and eliminate GHG emissions. 

Learn more about the practices & strategies being implemented by industry participants from the Digital Payments Industry ESG Thematic Report, 2023, published by Astra ESG Solutions PayPal Propels Science-Based Targets (SBTs) Carbon footprints from the digital payment ecosystem have prompted financial institutions to up their sustainable strategies. A study from Cambridge inferred that Bitcoin used 80% more energy consumption in 2021 compared to the preceding year. Digital wallets reportedly consume less energy vis-à-vis cryptocurrencies, offering opportunities galore. In March 2022, Helpful rolled out digital wallets that it claims can save up to 80% of the CO2 produced from payment transactions. 

The potential risks posed by adverse weather conditions on facilities have encouraged companies, such as PayPal to underscore science-based GHG emission reduction targets. The Fintech player achieved 100% renewable energy sourcing for its data centers in 2021, while it reached 90% total energy use in 2022. The American giant formed science-based emission reduction targets—to minimize absolute operational GHG emissions by 25% by 2025. In 2022, the company set the goal to engage 75% of its suppliers (in terms of spending) to SBTs by 2025 and Its IT asset management team retired 338 metric tons of IT hardware across the data center services.

Global Payments Underscores Philanthropic Activities The social criterion emphasizes a shifting business environment where companies are gearing up to enhance workplace diversity, financial literacy, social equity and health & wellness. In 2021, Global Payments Plano, Texas office teamed up with the National Breast Cancer Foundation (NBCF) and collected USD 1,600 for charity. Besides, the Lindon, Utah team formed a canned food drive to donate 2,500 cans to a local food bank. Taking the philanthropic work further, the company doled out USD 5 million in 2021 to underpin several organizations, such as Red Cross, the American Heart Association, UNCF, Leukemia & Lymphoma Society, Susan G. Komen and Mercer Medical School.

To reinforce financial literacy and economic inclusion, the Fintech company offers around 4 million (especially small and medium-sized businesses) locations globally with digital commerce solutions, allowing acceptance of more than 140 payment methods. Meanwhile, the U.S.-based company has propelled its DEI strategies to augment female representation to 47% and boost the number of people of color to 39% by 2025. 

Is your business one of participants to the Digital Payments Industry? Contact us for focused consultation around ESG Investing, and help you build sustainable business practices JP Morgan Embeds Transparency and Accountability Corporate governance has become a value proposition to impel ethics & compliance, board diversity, transparent work culture, independence and anti-corruption activities. In 2021, directors at JP Morgan were offered education on DEI, cybersecurity, its climate risk management framework and technology. The Board in the financial service company has ramped up corporate culture and values, boosting diversity in leadership positions. As of April 2022, Out of ten, there were four women directors and one black director. Further, women accounted for 37% of seats on the Operating Committee (as of December 2021). 

While digital solutions have become invaluable in the economy, data privacy and cybersecurity threats have sent alarm bells to stakeholders. The Global Cybersecurity and Technology Controls organization analyzes changes in global threats and monitors JP Morgan’s operations. In 2022, the company was involved in policy issues, such as software bills of materials, evolving U.S. National Institute of Standards and Technology (NIST), zero trust and notification. The need to protect the global financial system and underpinning cybersecurity will help companies achieve ESG goals. 

Fintech players have expedited their strategies to undergird climate solutions and build financial confidence among underserved and vulnerable communities. In the 2021-2022 ESG Report, American Express announced an infusion of USD 3 billion toward DEI initiatives and underrepresented groups through 2025. During the Earth Month of 2022, the financial service company asserted that at least 70% recycled or reclaimed plastic would be used to make most plastic cards by 2024. The rising footprint of contactless- and card payments against the backdrop of the COVID-19 pandemic has made electronic payment the next big thing. The global digital payments market size stood at USD 68.61 billion in 2021 and will expand at a CAGR of 20.5% between 2022 and 2030, reports Grand View Research. 

About Astra – ESG Solutions by Grand View Research Astra is the Environmental, Social, and Governance (ESG) arm of Grand View Research Inc. – a global market research publishing & management consulting firm.

Astra offers comprehensive ESG thematic assessment & scores across diverse impact & socially responsible investment topics, including both public and private companies along with intuitive dashboards. Our ESG solutions are powered by robust fundamental & alternative information. Astra specializes in consulting services that equip corporates and the investment community with the in-depth ESG research and actionable insight they need to support their bottom lines and their values. We have supported our clients across diverse ESG consulting projects & advisory services, including climate strategies & assessment, ESG benchmarking, stakeholder engagement programs, active ownership, developing ESG investment strategies, ESG data services, build corporate sustainability reports. Astra team includes a pool of industry experts and ESG enthusiasts who possess extensive end-end ESG research and consulting experience at a global level.

For more ESG Thematic reports, please visit Astra ESG Solutions, powered by Grand View Research

[mostlysignssomeportents]

Canada shouldn’t retaliate with its US tariffs

Picks and Shovels is a new, standalone technothriller starring Marty Hench, my two-fisted, hard-fighting, tech-scam-busting forensic accountant. You can pre-order it on my latest Kickstarter, which features a brilliant audiobook read by Wil Wheaton.

Five years ago, Trump touted his "big, beautiful" replacement for NAFTA, the "free trade agreement" between the US, Mexico and Canada. Trump's NAFTA-2 was called the USMCA (US-Mexico-Canada Agreement) and it was pretty similar to NAFTA, to be honest.

That tells you a couple things: first, NAFTA was, broadly speaking a good thing for Trump and the ultra-wealthy donors who backed him (and got far richer as a result). That's why he kept it intact. NAFTA and USMCA are, at root, a way to make rich people richer by making poorer people poorer. Trump's base hated NAFTA because they (correctly) believed that it was being used to erode wages by chasing cheaper labor and more lax environmental controls in other countries. Neither NAFTA nor USMCA have any stipulations requiring exported goods to be manufactured by unionized workers, or in factories with robust environmental and workplace safety rules.

The point of NAFTA/USMCA is to goose profits by despoiling the environment, maiming workers, stealing their wages, paying them less, all while poisoning the Earth. Trump's "new" NAFTA was just the old NAFTA with some largely cosmetic changes so that Trump's base could be (temporarily) fooled into thinking Trump was righting the historic wrong of NAFTA.

However, there was one part of USMCA that marked a huge departure from NAFTA: the "IP" chapter. USCMA bound Canada and Mexico to implementing brutal new IP laws. For example, Mexico was forced to pass an anti-circumvention law that makes it a crime to tamper with "digital locks." This means that Mexican mechanics can't bypass the locks US car companies use to lock-out third party repair. Mexican farmers can't fix their own tractors. And, of course, Mexican software developers can't make alternative app stores for games consoles and mobile devices – they must sell their software through US Big Tech companies that take 30% of every sale:

https://pluralistic.net/2020/09/09/free-sample/#que-viva

Shamefully, Canada had already capitulated to most of these demands. Two Canadian Conservative Party politicians, Tony Clement and James Moore, had sold the country out in 2012, throwing away 6,138 negative responses to a consultation on a new DRM law (on the grounds that they were "babyish" views of "radical extremists"), siding instead with the 54 cranks and industry shills who supported their proposal:

https://pluralistic.net/2024/11/15/radical-extremists/#sex-pest

When Canadian politicians are pressed on why these anti-interoperability policies are good for Canada, they'll say that it's a condition of free trade, and the benefits of being able to export Canadian goods to the US without tariffs outweigh the costs of having to pay rents to American companies for consumables (like car parts or printer ink), repair, and software sales.

Sure, when Canadian software authors sell iPhone apps to Canadian customers, the payments take a round trip through Cupertino, California and return 30% short. But Canadian consumers get to buy iPhones without paying tariffs on them, and the oil, timber, and minerals we rip out of the ground can be sent to America without tariffs, either (oh, also, a few things that are still manufactured in Canada can do this, too).

Enter Trump, carrying a 25% tariff on all Canadian goods, which he has vowed to impose on his first day in office. Obviously, this demands a policy response. What should Canada do when Trump tears up his "big, beautiful" trade deal and whacks Canadian exporters? One obvious response is to impose a 25% retaliatory tariff on American exporters:

https://mishtalk.com/economics/canada-says-it-will-match-us-tariffs-if-trump-launches-trade-war/

After all, Canada and the US are one another's mutual largest trading partners. American businesses rely on selling things to Canadians, so a massive tariff on US goods will certainly make some of Trump's business-lobby backers feel pain, and maybe they'll talk some sense into him.

I think this would be a huge mistake. The most potent political lesson of the past four years is that politicians who preside over rising prices – regardless of their role in causing them – will swiftly feel the wrath of their voters. The public is furious about inflation, whether it comes from transient covid supply chain shocks, Russia's invasion of Ukraine, or cartels using "inflation" as cover for illegal, collusive price-gouging.

Canadians are very reliant on American imports of finished goods. That's another legacy of NAFTA: it crashed Canada's manufacturing sector. Canadian manufacturing companies treated the US as a "nearshore" source of non-union labor and weak environmental and safety rules, and shipped Canadian union jobs to American scabs. Canada's economy is supposedly now all about "services" but what we really export is stuff we tear out of the Earth.

Countries that are organized around resource extraction don't need fancy social safety nets or an educational system capable of producing a high-tech workforce. All you need to extract resources is a hole in the ground surrounded by guns, which explains a lot about shifts to the Canadian political climate since the Mulroney years.

Since Canada is now substantially reorganized as an open-pit mine for American manufacturers, cutting off American imports would drive the prices of everyday good sky-high, and would be political suicide.

But there's another way.

Because, of course, Canada – like any other country – has the capacity to make all kinds of things, including high-tech things. Sure, it's unlikely that Canada will launch another Research in Motion with a Blackberry smart-phone that will put the iPhone and Android in the shade. The mobile duopoly has the market sewn up, and can use predatory pricing, refusal to deal, and other anticompetitive tactics to strangle any competitor in its cradle.

But you know what Canada could make? A Canadian App Store. That's a store that Canadian software authors could use to sell Canadian apps to Canadian customers, charging, say, the standard payment processing fee of 5% rather than Apple's 30%. Canada could make app stores for the Android, Playstation and Xbox, too.

There's no reason that a Canadian app store would have to confine itself to Canadian software authors, either. Canadian app stores could offer 5% commissions on sales to US and global software authors, and provide jailbreaking kits that allows device owners all around the world to install the Canadian app stores where software authors don't get ripped off by American Big Tech companies.

Canadian companies like Honeybee already make "front-ends" for John Deere tractors – these are the components that turn a tractor into a plow, or a thresher, or another piece of heavy agricultural equipment. Honeybee struggles constantly to get its products to interface with Deere tractors, because Deere uses digital locks to block its products:

https://honeybee.ca/

Canada could produce jailbreaking kits for John Deere tractors, too – not just for Honeybee. Every ag-tech company in the world would benefit from commercially available, professionally supported John Deere jailbreaking kits. So would farmers, because these kits would restore farmers' Right to Repair their own tractors:

https://pluralistic.net/2022/05/08/about-those-kill-switched-ukrainian-tractors/

Speaking of repair: Canadian companies could jailbreak every make and model of every US automobile, and make independent, constantly updated diagnostic tools that every mechanic in the world could buy for hundreds of dollars, rather than paying the five-figure ransom that car makers charge for their own underpowered, junk versions of these tools.

Jailbreaking cars doesn't stop with repair, either. Cars like the Tesla are basically giant rent-extraction machines. If you want to use all the "features" your Tesla ships with – like access to the full charge on your battery – you have to pay tens of thousands of dollars in subscription fees over the life of the car, and when you sell your car, all that "downloadable content" is clawed back. No one will pay extra to buy your used Tesla just because you spent thousands on manufacturer upgrades, because they're all downgraded when you sign over the pink slip.

But Canadian companies could make jailbreaking kits for Teslas that unlock all the features in the car for a single low price – and again, they could sell these to every Tesla owner in the world.

Elon Musk doesn't invent anything, he just takes credit for other people's ideas, and that's as true of bad ideas as it is for good ones. Musk didn't invent the extractive Tesla rip-off: he stole it from inkjet printer companies like HP, who have used the fact that jailbreaking is illegal to turn printer ink into the most expensive fluid in the world, selling for more than $10,000/gallon.

Canadian companies could sell jailbreaking kits for inkjet printers that disconnect them from "subscription" services and disable the anti-features that check for and reject third party ink. People all over the world would buy these.

What's standing in the way of a Canadian industrial policy that focuses on raiding the sky-high margins of American monopolists with third-party add-ons, mods and jailbreaks?

Only the IP laws that Canada has agreed to in order to get tariff-free access to American markets. You know, the access that Trump has promised to end in less than a week's time?

Canada should tear up these laws – and not impose tariffs on American goods. That way, Canadians can still buy cheap American goods, and then they can save billions of dollars every year on the consumables, parts, software, and service for those goods.

This is hurting American big business where it hurts – in the ongoing rents it extracts from Canadians through IP laws like Bill C-11 (the law that bans jailbreaking). Canada could become a global high-tech export powerhouse, selling "complementary" goods that disenshittify all the worst practices of US tech monopolists, from car parts to insulin pumps.

It's the only kind of trade war that Canadian politicians can win against Americans: the kind where prices for Canadians don't go up because of tariffs; where the price of apps, repair, parts, and upgrades goes way down; and where a new, high-tech manufacturing sector pulls in vast sums from customers all over the world.

Canada can win this kind of war, even against a country as big and powerful as the USA. After all, we did it once before:

https://www.youtube.com/watch?v=5CK3EDncjGI

Check out my Kickstarter to pre-order copies of my next novel, Picks and Shovels!

If you'd like an essay-formatted version of this post to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:

https://pluralistic.net/2025/01/15/beauty-eh/#its-the-only-war-the-yankees-lost-except-for-vietnam-and-also-the-alamo-and-the-bay-of-ham

[sexymemecoin]

The Expansive World of Altcoins: Exploring the Diversity Beyond Bitcoin

Bitcoin, the original cryptocurrency, has long dominated headlines and market discussions. However, the world of digital currencies is vast and diverse, with thousands of alternative coins, or altcoins, each offering unique features and value propositions. Altcoins encompass a broad range of projects, from utility tokens and stablecoins to meme coins and more. This article delves into the rich ecosystem of altcoins, highlighting their significance, various types, and the innovative projects that make up this vibrant space, including a mention of Sexy Meme Coin.

Understanding Altcoins

The term "altcoin" refers to any cryptocurrency that is not Bitcoin. These coins were developed to address various limitations of Bitcoin or to introduce new features and use cases. Altcoins have proliferated since the creation of Bitcoin in 2009, each aiming to offer something different, whether it be improved transaction speeds, enhanced privacy features, or specific utility within certain ecosystems.

Categories of Altcoins

Utility Tokens: Utility tokens provide users with access to a specific product or service within a blockchain ecosystem. Examples include Ethereum's Ether (ETH), which is used to power applications on the Ethereum network, and Chainlink's LINK, which is used to pay for services on the Chainlink decentralized oracle network.

Stablecoins: Stablecoins are designed to maintain a stable value by being pegged to a reserve of assets, such as fiat currency or commodities. Tether (USDT) and USD Coin (USDC) are popular stablecoins pegged to the US dollar, offering the benefits of cryptocurrency without the volatility.

Security Tokens: Security tokens represent ownership in a real-world asset, such as shares in a company or real estate. They are subject to regulatory oversight and are often seen as a bridge between traditional finance and the blockchain world.

Meme Coins: Meme coins are a playful and often humorous take on cryptocurrency, inspired by internet memes and cultural trends. While they may start as jokes, some have gained significant value and community support. Dogecoin is the most famous example, but many others, like Shiba Inu and Sexy Meme Coin, have also captured the public's imagination.

Privacy Coins: Privacy coins focus on providing enhanced privacy features for transactions. Monero (XMR) and Zcash (ZEC) are notable examples, offering users the ability to transact anonymously and protect their financial privacy.

The Appeal of Altcoins

Altcoins offer several advantages over Bitcoin, including:

Innovation: Many altcoins introduce new technologies and features, driving innovation within the cryptocurrency space. For example, Ethereum introduced smart contracts, enabling decentralized applications (DApps) and decentralized finance (DeFi) platforms.

Specialization: Altcoins often serve specific niches or industries, providing targeted solutions that Bitcoin cannot. For instance, Ripple (XRP) focuses on facilitating cross-border payments, while Filecoin (FIL) aims to create a decentralized storage network.

Investment Opportunities: The diverse range of altcoins presents numerous investment opportunities. Investors can diversify their portfolios by investing in projects with different use cases and growth potentials.

Notable Altcoins in the Market

Ethereum (ETH): Ethereum is the second-largest cryptocurrency by market capitalization and has become the backbone of the DeFi and NFT (Non-Fungible Token) ecosystems. Its smart contract functionality allows developers to create decentralized applications, leading to a thriving ecosystem of financial services, games, and more.

Cardano (ADA): Cardano is a blockchain platform focused on sustainability, scalability, and transparency. It uses a proof-of-stake consensus mechanism, which is more energy-efficient than Bitcoin's proof-of-work. Cardano aims to provide a more secure and scalable infrastructure for the development of decentralized applications.

Polkadot (DOT): Polkadot is designed to enable different blockchains to interoperate and share information. Its unique architecture allows for the creation of "parachains," which can operate independently while still benefiting from the security and connectivity of the Polkadot network.

Chainlink (LINK): Chainlink is a decentralized oracle network that provides real-world data to smart contracts on the blockchain. This functionality is crucial for the operation of many DeFi applications, making Chainlink a vital component of the blockchain ecosystem.

Sexy Meme Coin: Among the meme coins, Sexy Meme Coin stands out for its combination of humor and innovative tokenomics. It offers a decentralized marketplace where users can buy, sell, and trade memes as NFTs (Non-Fungible Tokens), rewarding creators for their originality. Learn more about Sexy Meme Coin at Sexy Meme Coin.

The Future of Altcoins

The future of altcoins looks promising, with continuous innovation and increasing adoption across various industries. As blockchain technology evolves, we can expect altcoins to introduce new solutions and disrupt traditional systems. However, the market is also highly competitive, and not all projects will succeed. Investors should conduct thorough research and due diligence before investing in any altcoin.

Conclusion

Altcoins represent a dynamic and diverse segment of the cryptocurrency market. From utility tokens and stablecoins to meme coins and privacy coins, each category offers unique features and potential benefits. Projects like Ethereum, Cardano, Polkadot, and Chainlink are leading the way in innovation, while niche coins like Sexy Meme Coin add a layer of cultural relevance and community engagement. As the cryptocurrency ecosystem continues to grow, altcoins will play a crucial role in shaping the future of digital finance and blockchain technology.

For those interested in the playful and innovative side of the altcoin market, Sexy Meme Coin offers a unique and entertaining platform. Visit Sexy Meme Coin to explore this exciting project and join the community.

[tuxebo]

What do you think of John marston?

he's hot, that's about it (pretending i didn't just write this whole thing abt him.) while i've read that he gets better over time, i'm yet to see it so i have mixed feelings on him. he's not a good father, not a good friend, not a good husband. let's be real here, he wouldn't make a good partner unless he fell in love before joining the gang.

john marston who wasn't completely alone before dutch saved his tail from getting hung. there was this poor baker and his wife, they had a kid, you. you weren't wealthy folk, no, but you always brought john dinner or shared yours. it wasn't large portions, but enough to keep him from dying of hunger.

you first met him when you caught him trying to steal from the bakery, rather than telling your parents you just handed him to bread. you had a mini picnic on the bakery's front porch, you talking his ears off was more than enough payment for the food.

you brought him food a couple more times, talking about yourself while he ate in silence, eventually he opened up and started engaging in the conversations you started. he never told you much about himself, other than the orphanage you could find him at. he showed you which window was his and that you only need to toss a pebble at it to get his attention.

as time passed, john became more and more of a no b.s. little boys. the kind of little boy that got himself killed or in a gang, as your daddy said. he didn't put up with anyone messing with you, in that respect he got more aggressive with your bullies, but never with you. you taught him things you learned from your mother as she was your teacher, some of it didn't stick but you tried.

inevitably, john disappeared. he was either dead in a ditch or in a gang, your dad didn't mention a third possibility but you liked to believe he'd been adopted by a nice family and that you'd see him again. you were only about 11 years old and he was 12, it wasn't shocking for you to have such enthusiasm.

life continued as usual for about three decades. you never married, business was going well after your parents died and suddenly you had one too many responsibilities on your plate for any of that. the world was becoming more and more industrialized by the day, you wouldn't even recognize it to what it once was when you were a kid. the only place that felt like home was your bakery, which is part of the reason it was doing so well, the nostalgia.

having had been in the business for so long, you were no stranger to thieves ─ you even caught one before you were double digits. one a particularly slow morning, the grey clouds settling in as you prepared for rain, a quiet hum caught your attention.

stepping out from the back, you caught a young man staring down your trays of different breads. he wasn't quiet at all, practically begging to be caught. you smiled, planning on just giving some to him anyway, but the look he gave you rendered you speechless from deja vu. same type of bread, same guilty smile, same brown eyes, same thinking hum.

"aw c'mon, son ─ jus' had to be this one of all the damn shops on the block," a man swore, the same way your dad did when he read about some young-ins doing stupid stuff in the paper. the voice was familiar, deeper as it had been many years now, but before you was john marston and another younger john marston.

since leaving the gang and his son's mother, john marston was a changed man. finally able to pay you back for all the bread and the bread his boy tried to steal. this time he gave you a proper picnic, in the large yard on his property. he set up under on of his sycamore trees, just like you had described three decades ago.

john marston may not have been adopted by some nice family nor was he always a nice man, but he was ready to become one for his son and you.

[justinspoliticalcorner]

Michael Stratford at Politico:

Elon Musk said Wednesday that the Consumer Financial Protection Bureau should be abolished, calling for the elimination of an agency that would potentially regulate the future payments business of the Musk-owned X platform. “Delete CFPB,” Musk, who is leading an effort on behalf of President-elect Donald Trump to shrink the size of the federal government, wrote in a post on X. “There are too many duplicative regulatory agencies.” Trump on the campaign trail called for easing regulation of the financial industry generally but didn’t explicitly call for the elimination of the CFPB, which Republicans have railed against for years. The Heritage Foundation’s Project 2025 blueprint, which Trump sought to distance himself from during the campaign, recommended the agency be shut down.

Trump is widely expected to rein in the Biden-era CFPB’s regulatory agenda and ease enforcement against companies, as he did during his first term in office. But eliminating the agency entirely, as Musk appears to be proposing, would require an act of Congress. Republicans and the financial industry have long targeted the CFPB for what they consider its overly aggressive regulation, though efforts to take down the agency in Congress and in the courts have largely been unsuccessful. GOP lawmakers, even under Republican control, have lacked the votes to eliminate or defund the CFPB. And more recently the Supreme Court earlier this year upheld the agency’s funding structure as constitutional. Musk’s statement comes less than a week after the CFPB finalized a regulation that would expand its oversight of big tech companies that offer payment and digital wallet apps. That would potentially include X, which has explored ways to enter the payments business. Musk said when he purchased X, previously known as Twitter, that he wanted to transform the site into an “everything app” that included the ability of users to store money and send payments. Since then, X Payments has obtained licenses to transmit payments from dozens of state regulators.

[...] Musk’s post came in response to a video clip of the prominent investor Marc Andreessen telling podcaster Joe Rogan that he believes that the CFPB was “terrorizing” tech firms and start-ups that want to compete with big banks. Andreessen’s venture capital firm, Andreessen Horowitz, or a16z, invested in a company, LendUp Loans that was shut down by the CFPB over allegations of illegal marketing and fair lending violations. At the time, the CFPB noted that the company, which pitched itself as a payday lender alternative, had been backed by Andreessen’s firm, among other prominent venture capitalists.

Anti-workers’ rights extremist Elon Musk calls for the elimination of the Consumer Financial Protection Bureau (CFPB). A move to eliminate the CFPB is an attack on accountability and consumer protections.

[probablyasocialecologist]

Generative AI was always unsustainable, always dependent on reams of training data that necessitated stealing from millions of people, its utility vague and its ubiquity overstated. The media and the markets have tolerated a technology that, while not inherently bad, was implemented in a way so nefariously and wastefully that it necessitated theft, billions of dollars in cash, and double-digit percent increases in hyper scalers’ emissions. The desperation for the tech industry to “have something new” has led to such ruinous excess, and if this bubble collapses, it will be a result of a shared myopia in both big tech dimwits like Satya Nadella and Sundar Pichai, and Silicon Valley power players like Reid Hoffman, Sam Altman, Brian Chesky, and Marc Andreessen. The people propping this bubble up no longer experience human problems, and thus can no longer be trusted to solve them. This is a story of waste, ignorance and greed. Of being so desperate to own the future but so disconnected from actually building anything. This arms race is a monument to the lack of curiosity rife in the highest ranks of the tech industry. They refuse to do the hard work — to create, to be curious, to be excited about the things you build and the people they serve — and so they spent billions to eliminate the risk they even might have to do any of those things.  Had Sundar Pichai looked at Microsoft’s investment in OpenAI and said “no thanks” — as he did with the metaverse — it’s likely that none of this would’ve happened. But a combined hunger for growth and a lack of any natural predators means that big tech no longer knows how to make competitive, useful products, and thus can only see what their competitors are doing and say “uhhh, yeah! That’s what the big thing is!”  Mark Zuckerberg was once so disconnected from Meta’s work on AI that he literally had no idea of the AI breakthrough Sundar Pichai complimented him about in a meeting mere months before Meta’s own obsession with AI truly began. None of these guys have any idea what’s going on! And why are they having these chummy meetings? These aren’t competitors! They’re co-conspirators!  These companies are too large, too unwieldy, too disconnected, and do too much. They lack the focus that makes a truly competitive business, and lack a cohesive culture built on solving real human or business problems. These are not companies built for anything other than growth — and none of them, not even Apple, have built something truly innovative and life-changing in the best part of a decade, with the exception, perhaps, of contactless payments. These companies are run by rot economists and have disconnected, chaotic cultures full of petty fiefdoms where established technologists are ratfucked by management goons when they refuse to make their products worse for a profit. There is a world where these companies just make a billion dollars a quarter and they don't have to fire people every quarter, one where these companies actually solve real problems, and make incredibly large amounts of money for doing so. The problem is that they’re greedy, and addicted to growth, and incapable of doing anything other than following the last guy who had anything approaching a monetizable idea, the stench of Jack Welch wafting through every boardroom.

5 August 2024