Technology

Indian billionaire Mukesh Ambani’s Reliance Industries Ltd. is offering to sell a roughly $20 billion stake in its retail business to Amazon.com Inc., according to a person with knowledge of the matter.

Sellers need to start implementing the right technologies now, in order to support the retail landscape of tomorrow, says Sorted’s David Grimes.

The pandemic has spurred a major push toward speedier digital transactions, making it an expeditious time for the Faster Payments Council to expand the range of input it gets to expand its mission.

As the coronavirus began to sweep through Europe and the U.S. during the early spring, Phillip McGriskin was in the middle of a crucial funding round.

While companies may already have technology in place that supports efficient payments and collections in their home region, treasurers and finance managers need to reflect the diverse and evolving payment and collection demands of customers and suppliers in each market, says Standard Chartered's Tarek Elyafi.

The bank's innovation group has developed a software tool for law firms. It hopes the project will help it speed products to market and attract top technology talent.

It could take years for the air travel industry to recover from the pandemic, but some of the airlines' responses could fuel other payment streams.

Verifone has acquired 2Checkout, the Atlanta-based e-commerce payments processor, as Verifone continues to expand its online resources.

Naspers Ltd.-backed cryptocurrency exchange Luno has been acquired by New York-based digital asset investment firm Digital Currency Group, according to a company release seen by Bloomberg.

BNY Mellon has launched a system that automates medical and dental insurance claim payments, attaches benefit explanations and enables virtual card support for medical providers.