Apple Pay Fees Vex Credit-Card Issuers

Banks are nudging Visa to change the way it processes some Apple Pay transactions, according to people familiar with the matter.

According to people familiar with the matter, banks are pressing Visa to change the way some Apple Pay transactions are processed. Some banks are pushing back, weakening the card network Visa Inc.

To change the way some Apple Pay transactions are processed, according to some. This change will reduce the fees that banks pay to Apple.

According to people familiar with the matter and a document seen by Businesshala, Visa plans to implement the change next year. Apple executives have told Visa officials they oppose the change, the people said. The two companies are in discussion and it is possible that the planned change will not start.

Currently, banks pay the fee to Apple when their cardholders use Apple Pay. Under the new process planned, the fee will not apply to automatic recurring payments such as gym memberships and streaming services.

The dispute reflects a long-running tension between the tech and finance giants. Companies like Apple and Amazon.com Inc.

Consumer payments have been expanding over the years. Banks often bargain with them for fear of being left behind. But deals don’t always work out: Alphabet Inc. NS

For example, Google is dropping plans to introduce bank accounts to users. Apple said in a statement that “our banking partners are an important part of the growth of Apple Pay.”

The company said, “Our bank partners continue to see the benefits of providing Apple Pay and invest in new ways to implement and promote Apple Pay for our customers for secure and private in-store and online purchases. “

Major networks including Visa and MasterCard Inc.

There are effective gateways between banks and Apple Pay, as they help to load banks’ cards into mobile wallets. The change will apply to Visa-branded cards, though other networks may follow suit.

Mobile wallets are smartphone apps on which people can load their debit or credit-card credentials and use their phones instead of tangible cards to make payments. The transaction fee is charged to the buyer’s card.

When Apple introduced Apple Pay in 2014, the iPhone had already discontinued the music player, camera, and GPS system. Banks and card networks are worried it will displace card payments as well.

Banks agreed to pay 0.15% to Apple for every purchase made by their credit cardholders. (They pay a separate fee on debit-card transactions.) Those charges account for most of the revenue Apple makes from its digital wallet, according to people familiar with the matter.

The terms had the potential to be uniquely attractive to Apple. Banks do not charge Google for its Wallet.

Visa and MasterCard also agreed to make an unusual concession to Apple: Apple will be able to choose which issuers it will allow on Apple Pay and which issuers will accept cards, according to people familiar with the matter. Visa and MasterCard generally require that all entities that accept their credit cards must accept them. Apple agreed not to develop the card network to compete against Visa and MasterCard, the people said.

But since then, customers have been slower to adopt Apple Pay than bank and card network executives expected. And some bank executives were outraged when Apple launched its own credit card with Goldman Sachs Group in 2019 Inc.,

People familiar with the matter said, because it made Apple a direct competitor.

Apple said in a statement that it “works closely with approximately 9,000 banking partners to offer Apple Pay to customers in approximately 60 countries and territories.”

Visa has shared its planned technological change with at least a few banks in recent months. A document reviewed by the Journal explains the new process that doesn’t mention fees, but details a change to so-called tokens issued by Visa for mobile-wallet payments.

When consumers load their credit cards on Apple Pay, Visa issues a special token that replaces the card number. This allows the card to work on Apple Pay and also helps protect the card in a potential data breach, among other benefits.

Visa is planning to start using a separate token on recurring automatic payments. This effectively means that after making the first payment on the subscription, Apple will not receive a fee on the following transactions.

According to people familiar with the matter, some of the larger banks first tried to lower their Apple Pay fees around 2017, but were not successful.

By: AnnaMaria Andriotis

AnnaMaria Andriotis reports on credit cards for The Wall Street Journal. She covers Visa, Mastercard, American Express and Discover as well as the big banks’ credit-card divisions. She also writes about consumer credit broadly, with a focus on issues that have a big impact on U.S. borrowers. She has been a reporter with The Wall Street Journal since 2014 and got her start at Dow Jones more than 10 years ago. You can email AnnaMaria at annamaria.andriotis@wsj.com and follow her on Twitter @AAndriotis.

Source: Businesshala News Exclusive | Apple Pay Fees Vex Credit-Card Issuers

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Google Pushes to Overturn EU’s $5 Billion Antitrust Decision on Android

BRUSSELS— Alphabet Inc.’s GOOG -0.88% Google started its appeal Monday to overturn a $5 billion antitrust fine imposed by the European Union, contending that its Android operating system for mobile devices has boosted competition rather than foreclosing it.

The tech giant presented oral arguments in Luxembourg before the EU’s second-highest court, in its appeal to overturn the 2018 decision from the bloc’s antitrust enforcer. In that case, EU authorities found Google had illegally abused the market power of Android to push companies that manufacture and distribute Android phones into agreements aimed at entrenching and expanding the dominance of the Google search engine on mobile devices.

That decision was the largest of three antitrust fines totaling more than $9 billion that the EU has levied against Google in the past half decade. It also ordered changes to the distribution agreements buttressing one of the company’s biggest growth engines: search ads on mobile phones.

“Android has created more choice for everyone, not less,” a Google spokeswoman said. “This case isn’t supported by the facts or the law.”

A verdict isn’t expected for months, and it can be appealed to the EU’s top court, the Court of Justice. Still, the litigation is a new test for the EU’s competition and digital-policy chief, Margrethe Vestager, who already faces a pending appeal of an earlier decision against Google’s alleged abuse of the dominance of its search engine to favor its online-shopping ads.

Ms. Vestager has since opened a new antitrust probe into Google’s ad-tech business, along with a wave of cases exploring whether companies including Facebook Inc., Apple Inc. and Amazon.com Inc. abuse their dominance to drive out smaller rivals. The companies deny wrongdoing.

A spokeswoman for the European Commission, the bloc’s top antitrust regulator, declined to comment.

While the appeal is under way, Google has had to comply with the decision, offering all users of new Android phones in the EU a choice screen of alternative search engines. But so far Google’s market share for search on mobile phones has remained relatively stable, according to Statcounter.

At issue in the hearing this week is whether Google’s Android is indeed dominant, as European regulators argue, and whether Google’s distribution deals for the operating system and its Google Play app store for Android were anticompetitive.

The Commission has argued that Google used those agreements to block the rise of potential competitors and secure the dominance of its cash cow search engine on mobile phones—an outcome far from assured at the time.

The Commission found Google had abused its control of the Android operating system by forcing phone makers to pre-install Google Search and Google’s Chrome browser if they also wanted to include Google’s Play store for apps, by far the most common way to get Android apps.

The Commission also found Google’s so-called antifragmentation agreements—deals that discourage official Android manufacturers from selling devices that run unofficial, modified versions of Android—illegally blocked the development and emergence of competing operating systems.

“Instead of an antifragmentation agreement, it should be called an anticompetition agreement,” said Thomas Vinje, a lawyer representing FairSearch, a group representing Oracle Inc. and other companies whose 2013 complaint led the Commission to open a formal case investigating Android in 2015.

Apple and Google have one of Silicon Valley’s most famous rivalries, but behind the scenes they maintain a deal worth $8 billion to $12 billion a year according to a U.S. Department of Justice lawsuit. Here’s how they came to depend on each other. Photo illustration: Jaden Urbi

Google argues that those analyses are flawed. It says Android devices must compete with Apple’s iPhone and iPad, and the Commission was wrong to largely exclude them from its analysis. The company argues that its antifragmentation agreements are necessary to keep Android phones compatible with apps, and aren’t a barrier to creating competing operating systems.

Google also says the allegation that it blocked competing apps is false because manufacturers typically install many rival apps on Android devices, and consumers can easily download others. The company says it has a right to recoup the money it spends developing Android, which it makes available free to manufacturers, by encouraging them to install Google Search, from which the company makes the bulk of its revenue.

Google and the Commission will be joined in this week’s arguments by nearly a dozen outside companies and trade groups that have filed their own supporting briefs in the case. Google’s supporters include the Computer & Communications Industry Association and two handset manufacturers.

Arguments on the Commission’s side will include some from German publisher groups and complainants in the case, including FairSearch.

By: Sam Schechner at sam.schechner@wsj.com and Daniel Michaels at daniel.michaels@wsj.com

Source: Google Pushes to Overturn EU’s $5 Billion Antitrust Decision on Android – WSJ

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5 Reasons Why You Should Care About iOS 15

Surprisingly, last week is the first in a while that Apple Beta Program participants didn’t see a new build of iOS 15. Public Beta 8 was released two weeks ago, with the anticipation that the golden master would be released to testers a week after.

That didn’t happen. Instead, all signs point to the golden master being released this week in conjunction with the Apple iPhone event happening tomorrow, September 14. It might even skip “golden master” altogether and go straight to public release later this week.

So soon, everyone will get their hands on iOS 15. Some of the tentpole features, like the updated Maps app, redesigned Safari, and “all new” Notifications are either underwhelming or controversial. Plus one of its biggest features, Shareplay, which lets you share your media during FaceTime calls, is sidelined till iOS 15.1. So why should you care about the latest OS from Apple?

Here are five things that you’ll actually use that make iOS 15 worth getting excited about.

1. iCloud+ Makes Browsing More Secure

OK, boring stuff out of the way first. Everyone says they want to be more secure but no one actually cares. They share their email. They reuse passwords. They connect to any WiFi hotspot, even if its name is “H4CK3R-4-LYFE.”

Apple’s iOS has had strong password suggestions for a while now, but iOS 15 goes even further to keep you from your own worst habits. iCloud+ has a Private Relay feature that acts like a virtual private network (VPN). Basically, it hides the location of where you’re connecting  to the internet and who you are, even from Apple. You can’t use it like a regular VPN to spoof a location (say, if you’re trying to convince Netflix you’re in a different global region). But if you’re advanced enough to be doing that, you probably don’t need Private Relay to begin with. This feature is for those who want to be safer online but don’t want to mess with the nuts and bolts.

Hide My Email is the iCloud+ feature that you’ll actually notice and use. Rather than provide your real email to every random form and newsletter on the internet, this will let you mask your email with a fake address that’s then routed to your iCloud email address.

2. It’s Easier To Find Things Shared With You

“Oh, I’ve seen that trailer. My buddy shared it with me. One sec.”

Scroll, scroll, scroll

“Hmm. Maybe not him? Maybe my brother?”

Scroll, scroll, scroll

“Not him either. Huh. Um. I know I’ve got it. Hold on…”

Sound like a familiar scenario? With so many links, photos, and videos being shared with us on a daily basis, it’s easy to lose track of just what we’ve received and from whom. That’s why the persistent Shared With Me category in iOS 15 is an absolute gift. Now, there’s a whole list of shared links available when opening a new tab in Safari. Looking for pictures?

The Photos app has a shared category as well. Same with the TV and Music apps. Granted, the last two probably won’t see as much use but it’s still nice to have a convenient list of things that you want to check out in the app where you’ll most likely use it.

Speaking of sharing, if you frequently share multiple photos in Messages, they’re now organized in an aesthetically-pleasing stack. It’s a minor, but welcome, change.

3. Photos Are Way Better

The Photos app gets some major quality of life improvements in iOS 15. The auto-generated memories are better and seem to surface more of the images you care about. They can also use real music from your Music app! Now if you want to use Queen’s “You’re My Best Friend” for that memory about your dog, you can, rather than being stuck with generic upbeat instrumental music.

Photos are smarter as well, letting you dive deep into images and identify things like animals, plants, locations, and people. Plus you can finally copy text from images! No more flipping back and forth between an image and Safari to enter the name of that weird restaurant that you took a picture of. Select the text in the image, then copy, paste, and search. It’s especially useful for those acquaintances that love to send you screenshots of web pages rather than the actual web page address.

4. Anyone Can Join FaceTime Calls

FaceTime is a lot of fun but until now it’s been an Apple-only affair. With iOS 15 you can create a share link that lets anyone join your FaceTime call from their browser, no matter what device they’re on. Of course, if you’re joining that FaceTime call from an iOS device, there are all kinds of new enhancements to calls – better audio, video, and, eventually, real-time screen sharing. It’s like Zoom, but more focused on the social. If you prefer to do your FaceTime calls via Memoji, you’ll appreciate the new clothing options (among other new customizations).

5. Focus Lets You Instantly Transform Your Phone

Do Not Disturb and Sleep Mode were wonderful innovations that helped us wrest time back from our phones. The new Focus mode is like that, but with even more utility. Now, instead of just silencing notifications, you can create an entire home screen just for that mode.

Want to have a Fitness mode that surfaces weather, workout, and health widgets, plus your fitness and music apps? Create it and when you activate the Fitness focus mode, your phone will transform. You can also set it to let people know that you’re working out (or driving or whatever). And while there are several different types recommended, you can also make your own. It’s an easy way to embrace task-based layouts.

And this is just the tip of the iceberg. There are even more features coming to your phones when iOS 15 is released to the public later this week. Be sure to tune in to the Apple keynote tomorrow to check out the iOS 15 release announcement (and all the new iPhones!).

Follow me on Twitter or LinkedIn. Check out my website.

I’ve been writing about technology, gadgets, and pop culture back before Apple had even thought of the iPhone. I’ve seen the rise and fall (and rise again) of Apple. I’ve watched c-beams glitter in the dark near the Tannhäuser Gate… In addition to Forbes.com, I am a contributor at TheRoarbots.com. As a technical writer, I specialize in deciphering the undecipherable, untangling the kraken-like documentation tangles that software companies find themselves in, and teaching users how to successfully navigate their products on the other side. I also enjoy playing in superheroic worlds of my own creation (you can find out more about my fiction endeavors at AnthonyKarcz.com). You can find me on Twitter (@sunstreaker84), Facebook, and Google . If there’s something you want to see me tackle, drop me an email at: anthonyATanthonykarczDOTcom.

Source: 5 Reasons Why You Should Care About iOS 15

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Can Fruits and Vegetables Boost Brain Health?

Flavonoids, the chemicals that give plant foods their bright colors, may help curb the frustrating forgetfulness and mild confusion of advancing age. Eating colorful fruits and vegetables may be good for your brain.

A new study, one of the largest such analyses to date, has found that flavonoids, the chemicals that give plant foods their bright colors, may help curb the frustrating forgetfulness and mild confusion that older people often complain about with advancing age, and that sometimes can precede a diagnosis of dementia. The study was observational so cannot prove cause and effect, though its large size and long duration add to growing evidence that what we eat can affect brain health.

The scientists used data from two large continuing health studies that began in the late 1970s and early 1980s, in which participants periodically completed diet and health questionnaires over more than 20 years. The analysis included 49,693 women whose average age was 76, and 51,529 men whose average age was 73.

The scientists calculated their intake of about two dozen commonly consumed kinds of flavonoids — which include beta carotene in carrots, flavone in strawberries, anthocyanin in apples, and other types in many other fruits and vegetables. The study appears in the journal Neurology.

The degree of subjective cognitive decline was scored using “yes” or “no” answers to seven questions: Do you have trouble remembering recent events, remembering things from one second to the next, remembering a short list of items, following spoken instructions, following a group conversation, or finding your way around familiar streets, and have you noticed a recent change in your ability to remember things?

The higher the intake of flavonoids, the researchers found, the fewer “yes” answers to the questions. Compared with the one-fifth of those with the lowest intake of flavonoids, the one-fifth with the highest were 19 percent less likely to report forgetfulness or confusion.

According to the senior author, Dr. Deborah Blacker, a professor of epidemiology at the Harvard T.H. Chan School of Public Health, these long-term findings suggest that starting early in life with a flavonoid-rich diet may be important for brain health.

For young people and those in midlife, she said, “the message is that these things are good for you in general, and not just for cognition. Finding ways that you enjoy incorporating these things into your life is important. Think about: How do I find fresh produce and cook it in a way that’s appetizing? — that’s part of the message here.”

The study controlled for diet apart from flavonoid intake and for physical activity, alcohol consumption, age and body mass index, among other factors that may affect the risk for dementia. Importantly, it also controlled for depression, whose symptoms in older people can easily be mistaken for dementia.

The researchers looked not only at total flavonoid consumption, but also at about three dozen specific flavonoid-containing foods. Higher intakes of brussels sprouts, strawberries, winter squash and raw spinach were most highly associated with better scores on the test of subjective cognitive decline. The associations with consumption of onions, apple juice and grapes were significant, but weaker.

“These are the foods you should be eating for brain health,” said Dr. Thomas M. Holland, a researcher at the Rush Institute for Healthy Aging who was not involved in the study. “There’s some really good data here with 20 years of follow-up.” Still, he added, further follow-up would be needed to determine whether foods might affect the risk of developing dementia.

Paul F. Jacques, a senior scientist at the Jean Mayer United States Agriculture Department Human Nutrition Research Center on Aging at Tufts University who had no part in the research, said: “In terms of scientific advance, this adds to the literature, and it’s a really well done study. It’s a medium sized step, not a large step, going in the direction of helping us to identify the early period in which we can intervene successfully” to reduce the risk for Alzheimer’s disease.

Dr. Blacker pointed to broader policy issues. “If we can make a world in which everyone has access to fresh fruits and vegetables,” she said, “that should help improve many health issues, and lengthen life span.”

Source: Can Fruits and Vegetables Boost Brain Health? – The New York Times

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Apple Floats Above China Technology Crackdown For Now

The Chinese government under President Xi Jinping has rattled investors in Chinese technology companies by announcing regulatory measures meant to curb the country’s fast-growing economy while reasserting control over some of its biggest companies. But the big U.S. technology company most exposed to China — Apple Inc. — is likely insulated from the turmoil for the time being.

“The crackdown out of Beijing has caught investors by surprise given the scale and scope,” said Dan Ives, an Apple analyst at Wedbush Securities. “It’s a major overhang on Chinese tech names, but Apple has been able to navigate the China political climate unlike any other U.S technology company in the last thirty years. Apple is able to be more Teflon-like in terms of regulatory focus.”

On Tuesday — when Chinese tech giant Tencent Holdings had its worst day in a decade and Chinese tech companies ranging from food delivery to online tutoring sectors continued a multi-day free fall — Apple underscored its dominance by releasing earnings that topped Wall Street expectations for both sales and profit and reported quarterly revenue that topped $100 billion for the first time. That included strong growth in Apple’s Greater China region, in which it reported $14.8 billion in sales, up 58% from the same quarter a year ago.

Under the premise of tackling the technology industry’s anti-competitive practices and cybersecurity concerns to curbing rising costs of tutoring companies, the Chinese government has sent a clear message: It is not afraid to wipe out massive economic gains in order to pursue its policies. “China goes back and forth on cracking down on their companies,” said Mark Zgutowicz, an analyst at Rosenblatt Securities.

“If you think about Tencent, Alibaba, JD.com — China does not want any of their companies to get too big for them to control. And whenever these companies get too big for their britches, China will come down and say, ‘You know what, we’re going to regulate this or bring in another competitor.’”

Apple’s manufacturing supply chain is based in China and Taiwan, where nearly every iPhone, iPad and Mac computer is made. Over the years, China has proven itself to be both an important customer and partner to Apple.

According to Zgutowicz, Apple’s presence in China is actually a boon to the government’s agenda. Chinese technology companies like Huawei Technologies, Shenzhen Zhixin New Information Technology, Vivo Communication Technology Company and Guangdong Oppo Mobile Telecommunications Corp. have more or the same amount of mobile phone market share in China as Apple, according to data from market research firm Counterpoint.

This means that Apple is simply another player that keeps its domestic companies from getting too big. “Ironically, Apple keeps the other companies in check,” Żgutowicz said. “It keeps things level for the other Chinese manufacturers.”

Apple may not be facing the brunt of the Chinese crackdown, but it has not been totally immune to its regulatory bodies in recent years. In 2017, after China passed a cybersecurity law that required technology companies operating in China to store Chinese users’ data in the country, Apple agreed to build two data centers in the country. Cook assured the public that it would keep that data safe. But a recent New York Times investigation asserted that the company had more or less given up control of the computers inside the data center to the Chinese state.

In August 2020, Apple took down 47,000 applications from its App Store at the request of the Chinese government for not obtaining the appropriate gaming licenses, according to Rich Bishop, CEO of AppInChina, a Beijing-based firm that is a leading publisher of international apps in China and helps developers localize their apps and be compliant with local laws.

This request came after a decade of China turning a blind eye on how Apple operates its App Store in the country. “It is very unclear why the Chinese government has allowed Apple to operate until now without compliance with Chinese law,” said Bishop. “I would imagine it is because Apple contributes a lot to the Chinese economy in terms of manufacturing and sales — or maybe they have solid government relationships.”

The company’s heavy reliance on the region was an effort led in large part by Tim Cook, who worked at Apple for thirteen years under Steve Jobs before becoming its CEO in 2011. In the early 2000s, the Chinese government and its business leaders welcomed Apple, spending billions to build factories, power plants and employee housing. In one instance in 2004, when Apple was looking to expand its footprint in the country, a manufacturing partner in China physically moved a mountain in order to make space for an iPod-building factory.

Chief executives at some of Apple’s largest supply chain partners in China and Taiwan have become billionaires themselves. Zhou Qunfei, who chairs Lens Technology, a smartphone screen supplier that has long been one of Apple’s earliest suppliers for the iPhone, is one of the greater China region’s richest women, worth a cool $12.7 billion. Terry Gou, who founded Foxconn and assembles iPhones for Apple, is the richest person in Taiwan with a net worth of $6.7 billion.

“Part of this tight-wire balancing act for Apple and Cook has been to make sure they are successful in China without any blowback from the ongoing U.S.-China Cold Tech War,” said Ives of Wedbush. “And the reality is that in a peak iPhone cycle, Apple through its supply chain is one of the biggest importers in the whole country of China, potentially employing more than a million employees across the broader supply chain in the country.”

Apple and the greater China region have enjoyed a symbiotic relationship, but the company has made concessions in order to placate an increasingly controlling government. For now, it works — until the Chinese government starts to see Apple as a threat. “China welcomes the competition as long as Apple doesn’t get too big,” said Zgutowicz. “But whenever a company starts to get too big, they will see it from miles away. They do not want companies to get too big and create their own government with their users.”

Follow me on Twitter or LinkedIn. Send me a secure tip.

I am a staff writer at Forbes. Follow me on Twitter or send me an email at aau-yeung@forbes.com.

Source: Apple Floats Above China Technology Crackdown — For Now

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Tokenized Apple, Tesla And Coinbase? Why Binance Is Bowing Out.

Binance Chief Executive Officer Zhao Changpeng Interview

Tokenized stocks, or digital assets pegged to the price of company shares, are no longer available for purchase on Binance.com. Offerings had included Tesla, Apple, and Coinbase shares, which Binance claims were fully backed through shares held by its partner, German-based investment firm CM-Equity AG.

Support for stock tokens was first made available on Binance.com in April, 2021, which was enabled through a partnership with Digital Assets AG, a firm focused on issuing tokenized financial products.

“Today, we are announcing that we will be winding down support for stock tokens on Binance.com to shift our commercial focus to other product offerings,” the announcement reads.

Although the exact reason for the about-face is unclear, Binance’s reversal on tokenized stocks comes as financial regulators around the world are putting pressure on the firm. Officials in Germany, Thailand, Japan, Canada, and the United Kingdom have all issued warnings about the exchange over recent months, the firm has been dropped by the payments processor Clear Junction, and certain banking relationships in Europe and around the world are coming into question.

More broadly, it raises doubts about Binance’s hyper growth strategy of rapidly launching new products around the world such as debit cards and derivatives products.

Users currently holding stock tokens have 90 days to sell their shares. Clients in the European Economic Area and Switzerland have the option to transfer their holdings to a new digital asset platform from CM-Equity AG. After October 14, 2021 they will not be able to manually sell or close their positions on the Binance site.

Follow me on Twitter or LinkedIn. Check out my website.

Source: Tokenized Apple, Tesla And Coinbase? Why Binance Is Bowing Out.

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Critics:

Binance will list MicroStrategy, Microsoft and Apple, providing Binance users with exposure via the tokenization of equities. The tokens are expected to be denominated in the exchange’s stablecoin, BUSD.

The move means Binance users will be able to qualify for economic returns on the underlying shares, which will include potential dividends. The tokens also allow Binance customers to purchase as little as one-hundredth of a regular stock using BUSD.

Binance’s stock tokens are tokenized equities that can be traded on traditional stock exchanges. Each tokenized stock represents one ordinary share of the stock and is backed by a depository portfolio of underlying securities held by CM-Equity AG, Germany, according to the post.

Two stock tokens have begun trading on Binance including electric vehicle maker Tesla and cryptocurrency exchange Coinbase. Those listings are already ruffling the feathers of regulators who say the exchange has not acquired the necessary license to begin marketing equities to the public.

Cryptocurrency exchange Binance is allowing its users to buy fractions of companies’ shares with a new tokenized stock trading service, starting with Tesla.

  • The crypto exchange announced Monday the launch of Binance Stock Tokens, zero-commission digital tokens that qualify holders for returns including dividends.
  • As of 1:35 p.m. UTC (9:35 a.m. ET) April 12, users will be able to buy fractions of actual Tesla shares, which trade at $677 a share at the time of writing.
  • Users will be able to purchase as little as one-hundredth of a Tesla share, with prices settled in Binance USD (BUSD).
  • The exchange’s native crypto Binance Coin (BNB) has surged more than 25% in the last 24 hours, reaching an all-time high of $637.44. It is priced at $590.51 at press time. It’s not immediately clear what is driving the price of the coin.
  • It’s not the first tokenized stock play in crypto land: Terra Labs’ Mirror Protocol went live in December.
  • But where Mirror uses synthetic stocks (or tokenized representations of actual equities), the Binance product is “backed by a depository portfolio of underlying securities” managed by an investment firm in Germany.

See also: Binance Faces CFTC Probe Over US Customers Trading Derivatives: Report

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Google Maps Offensive Continues as Apple Begins Mapping New Regions

While Apple Maps is said to be a solid alternative to Google Maps, it’s not necessarily a secret that Apple’s app isn’t quite here yet. Especially outside of the United States, as Apple has often been extremely slow when it comes to rolling out new features for users who don’t live in the company’s home market.

Apple Maps, for example, has already received massive updates in the United States, including better maps and new features like traffic information with road signs and traffic light warnings, but this new experience continues to be available in limited markets.

But on the other hand, the iPhone maker is working tirelessly to expand Apple Maps to more markets, as the company itself knows it’s pretty much the only way to compete with Google Maps.

And more recently, Apple sent its fleet of Subaru Impreza used for data collection to Austria, with the mapping process due to start today. The company hasn’t shared any information on how long the entire process will take, but according to local media, Apple just wants to focus on vehicle-based data for now, so foot mapping wouldn’t take place. as part of this first step in the process.

This is probably a sign that Apple wants to improve the navigation component of its app, although time will tell how quickly the new data will be available to users in Austria.

The good news is that Apple is indeed making very good progress when it comes to expanding Apple Maps to more regions. Right now, this is one of the biggest shortcomings of using Apple Maps compared to alternatives like Google Maps, as the preloaded app on iPhones still lacks map data. updated and new features in many major markets.

Apple has yet to confirm Apple Maps’ expansion in Austria, but expect to see the company’s Subaru Imprezas on the streets of the country for several months.

After Apple hinted it was parting ways with Google Maps for its own proprietary system and application, Google is firing back, announcing it has new mapping technology ahead of Apple’s World Wide Developer Conference. In an invite sent to press last week, Google promised to “show off some of the newest technology and give a sneak peak at upcoming features,” according to CNET.

No word yet on whether the mapping technology will be for Google’s Chrome browser or for android phones or both, but mobile support seems likely. Will Google’s new application include something similar to Apple’s powerful new 3-D mode, which, according to 9-to-5 Mac, boasts “beautiful, realistic graphics”? Stay tuned as Map Wars 2012 continues.

Source: Google Maps offensive continues as Apple begins mapping new regions – OLTNEWS

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Critics:

The Google Maps apps for iOS and Android have many of the same features, including turn-by-turn navigation, street view, and public transit information.Turn-by-turn navigation was originally announced by Google as a separate beta testing app exclusive to Android 2.0 devices in October 2009. The original standalone iOS version did not support the iPad, but tablet support was added with version 2.0 in July 2013. An update in June 2012 for Android devices added support for offline access to downloaded maps of certain regions, a feature that was eventually released for iOS devices, and made more robust on Android, in May 2014.

At the end of 2015 Google Maps announced its new offline functionality, but with various limitations – downloaded area cannot exceed 120,000 square kilometres and require a considerable amount of storage space. In January 2017, Google added a feature exclusively to Android that will, in some U.S. cities, indicate the level of difficulty in finding available parking spots, and on both Android and iOS, the app can, as of an April 2017 update, remember where users parked. In August 2017, Google Maps for Android was updated with new functionality to actively help the user in finding parking lots and garages close to a destination.

In December 2017, Google added a new two-wheeler mode to its Android app, designed for users in India, allowing for more accessibility in traffic conditions. In 2019 the android version introduced the new feature called live view that allows to view directions directly on the road thanks to augmented reality Google Maps won the 2020 Webby Award for Best User Interface in the category Apps, Mobile & Voice. In March 2021, Google added a feature in which user can draw missing roads.

In 2005 the Australian Nuclear Science and Technology Organisation (ANSTO) complained about the potential for terrorists to use the satellite images in planning attacks, with specific reference to the Lucas Heights nuclear reactor; however, the Australian Federal government did not support the organization’s concern. At the time of the ANSTO complaint, Google had colored over some areas for security (mostly in the US), such as the rooftop of the White House and several other Washington, D.C., US buildings.

In October 2010, Nicaraguan military commander Edén Pastora stationed Nicaraguan troops on the Isla Calero (in the delta of the San Juan River), justifying his action on the border delineation given by Google Maps. Google has since updated its data which it found to be incorrect.

On January 27, 2014, documents leaked by Edward Snowden revealed that the NSA and the GCHQ intercepted Google Maps queries made on smartphones, and used them to locate the users making these queries. One leaked document, dating to 2008, stated that “[i]t effectively means that anyone using Google Maps on a smartphone is working in support of a GCHQ system.

References

Facebook, Apple and The War Over Social Media Influencers

In this photo illustration the Apple and Facebook logos are...

Facebook, good. Apple, bad. Facebook, good. Everyone else, bad.

That’s a little reductive but essentially the message put out today by Mark Zuckerberg. Writing on his personal Facebook page, Zuckerberg announced that Facebook won’t take a cut of any earnings that influencers earn on its platform through a growing number of Facebook products until 2023—and when it does start, its fees will be “less than the 30% that Apple and others take.” In addition, Zuckerberg said Facebook would shortly release a helpful little dashboard for influencers to (ostensibly) better manage their earnings and see which companies take a portion of their income.

There’s a lot at stake here. To start, Zuckerberg has increasingly pinned a portion of Facebook’s hopes for future growth on creators and has announced a slew of new initiatives over the past year to encourage influencers to build audiences on Facebook products. Among other things, Facebook plans to roll out audio features with subscription plans, introduce a marketplace where brands and influencers can link up and launch a subscription newsletter service, Bulletin.

Complicating matters is the fact that many other rival companies—TikTok, Snapchat and YouTube, to name only a few—are working on similar things. As well as the fact that Facbeook and Instagram spent many years largely ignoring the influencers on its platforms, while those rivals did a better job at cultivating them and introducing opportunities to earn money off their newfound fame, making those sites a more diserable destination.

To help Facebook stand out, Zuckerberg is willing to do something the others probably aren’t: Let creators earn money on the site without taking a portion of those dollars. Those smaller companies are likely going to be more eager to show investors that these new creator-focused products generate money.

Facebook, by contrast, has the enviable position of . . . not really needing the money. It earned a $9.5 billion profit alone last year and has over $60 billion just in cash. Keeping creators happy and earning money on Facebook keeps them from running off to other sites, taking Facebook users with them. Users have been—and will continue to be—the real moneymakers for Facebook, the people who look at the ads that do make up the majority of the company’s revenue.

The second factor in all this is the burgeoning grudge match between Facebook and Apple—and between Apple and other parts of Big Tech. Apple recently introduced changes to its operating system that will make it harder for Facebook to earn money off ads, part of a larger disagreement between Facebook and Apple over data privacy on the internet.

For its part in the war, Facebook will be doing things like Monday’s announcement: finding ways to paint Apple’s policies as stifling to small businesses on the Web. (Facebook’s timing was blantantly conspicuous, Zuckerberg’s post coming a few hours before Apple begins its much-watched annual developers’ conference.)

Of course, other companies are taking the opportunity to do the same thing to Apple. Less than a month ago, a trial concluded between Apple and Fornite-maker Epic Games over Apple’s allegedly monopolistic grip on large swaths of the internet, a fight also first sparked over fees and a disagreement over who should earn what.

I’m a senior editor at Forbes, where I cover social media, creators and internet culture. In the past, I’ve edited across Forbes magazine and Forbes.com.

Source: Facebook, Apple—And The War Over Social Media Influencers

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Critics:

It’s a bit simplistic, but it’s the message Mark Zuckerberg is conveying today. Writing on his non-public Facebook page, Zuckerberg announced that Facebook will not take any reduction in the profits influencers make on its platform through a number in Facebook product development until 2023, and when it starts, its fees will be “less than the 30% that Apple and others take. In addition, Zuckerberg said Facebook would soon launch a useful little panel so influencers can (apparently) better manage their profits and see which corporations take part in their profits.

The stakes are high here. For starters, Zuckerberg has placed some of Facebook’s hopes for long-term expansion on creators and announced a series of new projects over the next year to inspire influencers to create audiences on Facebook products. Among other things, Facebook. plans to implement audio features with subscription plans, introduce a marketplace where brands and influencers can connect, and launch a subscription newsletter service, Newsletter.

To complicate matters, many other rival corporations (TikTok, Snapchat and YouTube, to name a few) are running similar things, as well as the fact that Facbeook and Instagram have spent many years largely ignoring influencers on their platforms, while rivals have done more of a job cultivating them and introducing opportunities to make money through their newfound fame. , making those sites a more disadvantageous destination.

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Apple Vs Facebook Who Will Win The Data Privacy War?

Apple Vs. Facebook – Who Will Win The Data Privacy War?

Did you know the average app includes six third-party trackers that collect and share your online data?

The war over data privacy continues to heat up in the tech world. Two of the world’s biggest technology companies, Apple and Facebook, are taking very different approaches to user privacy, and their decisions are having ripple effects throughout the tech community.

Apple’s New Transparency Requirement

Apple’s new App Tracking Transparency feature, which will automatically be enabled on iOS in early spring, forces app developers to explicitly ask for permission from users to track and share information for cross-platform ad targeting.

With App Tracking Transparency, Apple requires every iOS app to ask you upfront if they’re allowed to share your information with data brokers and other networks, so they can serve mobile ads to you and measure your response to those ads.

After this change is in place, you’ll see a notification the first time you launch any new app on your phone, explaining what the proposed third-party tracker is used for, and whether you want to approve or reject the tracking and sharing of your data.

Facebook CEO Mark Zuckerberg criticized Apple’s new changes publicly, saying they were specifically put in place to put Facebook at a disadvantage. Zuckerberg says Apple is Facebook’s biggest competitor.

But while Apple is adding more privacy features to give its users more control, Facebook is moving in the other direction.

The Thin Line Between WhatsApp and Facebook

Facebook recently announced changes to the WhatsApp Privacy Policy that have some users outraged.

Right now, WhatsApp has some features that allow users to communicate with businesses through WhatsApp chat—and some of those businesses are hosted by Facebook. According to the new policy, messages between the prospect or customer and the business they’re communicating with could be collected and shared with the larger Facebook ecosystem.

That means Facebook and its advertisers could potentially use customer service chats or transaction receipts for marketing and advertising purposes.

The content of users’ individual chats will continue to be encrypted, so they cannot be seen by the company. The data within those chats will not be harvested or shared with third parties. Nonetheless, Facebook faced a huge backlash against the new rules after the announcement, prompting them to publish an FAQ page to clarify the policy and reassure upset WhatsApp users.

The pushback was big enough that Facebook decided to delay the rollout of the new rules (originally slated for February) to May 15th. In mid-May, WhatsApp users will need to accept the new Privacy Policy terms, or lose access to their accounts.

For many WhatsApp users, this announcement was a distinct reminder that WhatsApp users are now Facebook customers, and over time, Facebook will be moving information between the two platforms more often, in the name of “interoperability.”

Transparency: Winning Hearts and Minds in the Tech World

Apple and Facebook often take different approaches to user privacy. More and more, Apple seems to be taking steps to be more transparent and to protect user data, including regulating app developers in their ecosystem.

Meanwhile, Facebook has trouble gaining the trust of many of its users, and the common assumption is that the company prioritizes the needs of its advertisers over the privacy of its users.

Clearly, the market is sensitive to privacy issues, and they want companies to be more transparent – as evidenced by the backlash to Facebook’s recent WhatsApp announcement.

In the long run, I believe the companies that are more transparent with their users and take a stand to protect data privacy will be the ones who succeed – but only time will tell.

Follow me on Twitter or LinkedIn. Check out my website.

Bernard Marr is an internationally best-selling author, popular keynote speaker, futurist, and a strategic business & technology advisor to governments and companies. He helps organisations improve their business performance, use data more intelligently, and understand the implications of new technologies such as artificial intelligence, big data, blockchains, and the Internet of Things. Why don’t you connect with Bernard on Twitter (@bernardmarr), LinkedIn (https://uk.linkedin.com/in/bernardmarr) or instagram (bernard.marr)?

Source: Apple Vs. Facebook – Who Will Win The Data Privacy War?

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Only on “CBS This Morning,” Facebook CEO Mark Zuckerberg and his wife, philanthropist Priscilla Chan, invited us into their home. They have never allowed a TV camera crew inside before. Gayle King was able to see first-hand who this couple is outside their Facebook lives. They discussed raising their two young daughters and how family inspires the work they do. Watch “CBS This Morning” HERE: http://bit.ly/1T88yAR Download the CBS News app on iOS HERE: https://apple.co/1tRNnUy Download the CBS News app on Android HERE: https://bit.ly/1IcphuX Like “CBS This Morning” on Facebook HERE: http://on.fb.me/1LhtdvI Follow “CBS This Morning” on Twitter HERE: http://bit.ly/1Xj5W3p Follow “CBS This Morning” on Instagram HERE: http://bit.ly/1Q7NGnY
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Apple Will Allow Game Streaming Services, But Its Rules Are Still Restrictive

Apple overhauled its App Store guidelines on Friday to allow for game streaming services that had previously been denied—but the rules are still restrictive and it’s unclear if major players, such as Microsoft and Google, will be keen to follow them.

Game streaming services Google Stadia, Facebook Gaming, Nvidia’s GeForce Now and Microsoft’s xCloud don’t offer gameplay on iOS because of Apple’s policies limiting cloud streaming and third-party titles. 

On Friday, Apple adjusted its rules to allow for these services to operate on iOS, but each game needs to be a separate app available on the App Store subject to Apple’s review process.

Under the rules, game streaming services are allowed to have a main “catalogue app” that links out to individual games and allows users to sign up for the service, but games can’t be played directly inside the app like Android allows.

Apple did not change its policies about App Store fees, meaning that Apple will still take its usual cut of any subscription sign ups, game downloads or in-app purchases, which remains a major sticking point for the games industry.

It’s unclear if gaming services launch on Apple devices, or if they will continue to skip out on iOS altogether. Both Google and Nvidia declined to comment about their plans for iOS. Facebook did not immediately respond to a request for comment from Forbes.

Chief Critic

A Microsoft spokesperson told CNBC the changes are “a bad experience for customers.” 

“Gamers want to jump directly into a game from their curated catalog within one app just like they do with movies or songs, and not be forced to download over 100 apps to play individual games from the cloud,” the spokesperson said.

Key Background

Apple’s conflict with the gaming industry extends beyond streaming. Fortnite maker Epic Games is embroiled in a tense legal battle with the tech giant over its App Store fees. Epic argues that Apple’s 30% commission from in-app purchases is anti-competitive and forces companies to increase prices to cover the cost of the so-called “Apple Tax.” Apple, meanwhile, countersued Epic this week and said the company “simply wants to pay nothing for the tremendous value it derives from the App Store.”

Tangent

In Friday’s update, Apple also slightly loosened some rules for in-app purchases outside of gaming. One-on-one digital classes, like tutors or fitness classes, won’t be subject to the 30% fee. Follow me on Twitter. Send me a secure tip.

Rachel Sandler

 Rachel Sandler

I’m a San Francisco-based reporter covering breaking news at Forbes. I’ve previously reported for USA Today, Business Insider, The San Francisco Business Times and San Jose Inside. I studied journalism at Syracuse University’s S.I. Newhouse School of Public Communications and was an editor at The Daily Orange, the university’s independent student newspaper. Follow me on Twitter @rachsandl or shoot me an email rsandler@forbes.com

Source: Forbes

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