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Today in the Connected Economy: Google Investing in LatAm

Today, in the connected economy, Google makes a five-year, $1.2 billion commitment to Latin America that includes building the world’s longest undersea cable.

Plus, Mastercard joins forces with a group of NFT marketplaces to offer easier, more secure shopping, and Amazon’s CEO talks about his companies’ “big bets.”

Google will invest $1.2 billion in Latin American digital economy

Google plans to invest $1.2 billion in Latin America to promote the region’s digital transformation and economic development.

The tech giant says the funding will fuel three big projects in the region: hiring engineers for digital wallets and building the world’s largest undersea cable.

Additionally, $300 million of the investment will go to Google’s philanthropic arm, Google.org, which supports sustainability NGOs and economic opportunity for women.

Mastercard partners with NFT Marketplaces for “easier and more secure” purchases

In an effort to make the purchase of non-fungible tokens (NFTs) “easier and more secure”, Mastercard has joined forces with various NFT marketplaces to allow payments for NFT purchases on its network.

According to Mastercard, the companies include Immutable X, Candy Digital, The Sandbox, Mintable, Spring, Nifty Gateway, and Web3 infrastructure provider MoonPay. The partnership will allow customers to purchase NFTs with their Mastercard cards, either on the companies’ marketplaces or using their crypto services.

NFT markets represent a large portion of the NFT sector, Mastercard said, generating more than $25 billion in sales last year in categories such as art, sports, video games and collectibles.

Amazon to invest in video, autonomous vehicles, satellites, says CEO Jassy

Amazon CEO Andy Jassy said the supply chain crisis has caused his company to order things “significantly earlier” than before to ensure timely deliveries.

Speaking at the Bloomberg Technology Summit, Jassy said that Amazon would continue to invest in big bets, despite declining growth and sales in current economic conditions.

Among the big bets: building a supermarket chain, launching a cluster of Internet beam satellites, Alexa software and Zoox, the company’s autonomous taxi company. The CEO added buoyed by the future of Amazon’s streaming service, citing programming like the new TV show set in the “Lord of the Rings” universe.

UAE ADQ Launches $100M Tech Fund in Jordan

The UAE’s ADQ had created a $100 million technology-focused venture capital fund in partnership with the Jordanian Ministry of Digital Economy and Entrepreneurship.

The venture capital firm said the fund aims to support high-growth tech companies and the growth of the digital economy in Jordan, which is home to 27% of all tech entrepreneurs in the region.

“We established the $100 million Fund with the Ministry of Digital Economy and Entrepreneurship in recognition of the great potential of Jordan’s tech ecosystem,” said HE Mohamed Hassan Alsuwaidi, Managing Director and CEO of ADQ. “Jordan’s dynamic market offers great investment potential in sectors where we have significant experience.”

Razer Fintech Adds PT E2Pay Global Utama for Indonesia Expansion

Razer Fintech, the fintech arm of the brand focused on gamers Razer, has purchased Indonesian B2B2C digital payment facilitator PT E2Pay Global Utama in an effort to expand its offline-to-online (O2O) digital payment network. ) In Indonesia.

E2Pay provides payment gateway licenses, e-money and remittance services to merchants and financial institutions in Indonesia, complementing Razer Merchant Services, the regional business-to-business (B2B) arm of Razer Fintech.

“E2Pay is one of the few Indonesian digital payment players that has a full suite of licenses across various payment gateway, e-money and remittance services,” said Razer Fintech CEO LiMeng Lee.

“The acquisition of E2Pay allows us to accelerate our entry into Indonesia, one of the fastest growing digital economies in Southeast Asia, as well as better serve the digital payment needs of our regional and global merchants as the single partner of choice. . .”

Western Union partners with Mambu for European digital banking

Western Union partners with cloud banking platform Mambu to offer digital banking products to European customers.

The companies say that Mambu will allow Western Union to launch new banking products that can be configured with third-party applications. With Western Union’s WU+ offer, customers can use an app to quickly set up an account to spend and save.

“Our ambition is to provide market-leading financial solutions to our clients,” said Thomas Mazzaferro, chief data and innovation officer at WU. “By partnering with Mambu, we have built our digital banking products and services starting in Europe with Germany and Romania.”

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DATA OF NEW PAYMENTS: THE TAILOR-MADE PURCHASE EXPERIENCE STUDY – MAY 2022

On: PYMNTS’ survey of 2,094 consumers for The Personalized Shopping Experience report, a collaboration with Elastic Path, shows where merchants are doing well and where they need to up their game to deliver a personalized shopping experience.

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