In today’s top payments news around the world, the European Commission (EC) has provided the approval for Nexi’s purchase of Nets, while Hello Inc. has reportedly confidentially filed for an initial public offering (IPO) in the United States. Plus, Nigeria wants its residents to get in on the digital shift.
European Commission Greenlights Nexi’s Acquisition Of Nets
The EC has provided an unconditional authorization for the 7.8 billion euro ($9.28 billion) purchase of Denmark’s Nets by Nexi of Italy. The commission arrived at the determination that the purchase would not compromise competition. Nexi offers payment services for retailers, cardholders and financial institutions (FIs), while Nets focused on retailer acquiring offerings, point-of-sale (POS) terminals and card processing.
Chinese Bike-Sharing Startup Hello Files US IPO
Hello, a bike-sharing upstart, has reportedly confidentially filed for an IPO in the United States. Hello’s public offering comes amid a myriad of filings by tech firms aiming to capitalize on growing valuations. The Ant Group-backed company has not reportedly determined the size and value of the offering. Hello initially rolled out its bike-sharing platform in small municipalities in lieu of city centers, sidestepping rivalry from Mobike and Ofo.
Nigeria Offers Cash Rewards For Digital Remittances
Nigeria wants its residents to get in on the digital shift, and the digital remittance shift in particular. Digital payments have experienced an uptick in the nation amid the worldwide pandemic this past year, and the central bank aims to encourage its ongoing use with the “CBN Naira 4 Dollar Scheme.” The plan is an effort by the Central Bank of Nigeria (CBN) to “sustain the encouraging increase in inflows of diaspora remittances into the country,” according to a public letter.
Facebook Tests Instagram Reels Integration In India
Instagram will now provide creators in India with the opportunity to share short videos on Facebook as part of a new pilot. The experimental effort will reportedly let a few users in India share Instagram Reels on their Facebook newsfeeds.
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