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Industry roundup: 4 October

Pandora Papers don’t represent offshore financial industry: deVere CEO says………. BUT

The Pandora Papers are not representative of the wider offshore financial industry which typically helps hardworking people looking for better returns and more flexibility, says the CEO of one of the world’s largest independent financial advisory, asset management and fintech organisations.

The pushback from Nigel Green, chief executive of deVere Group, follows the leak of almost 12 million confidential documents regarding the wealth and dealings of world leaders, politicians and ultra-high-net-worth individuals over the weekend.

These include former UK Prime Minister Tony Blair, the King of Jordan, Azerbaijan’s ruling Aliyev family, Czech Prime Minister Andrej Babis, and Pakistan’s political elite, amongst many others.

Mr Green says: “When it comes to those who are in or have previously held political or royal office, and/or those who are actively seeking to break the law by hiding or ‘washing’ money, busting sanctions or evading tax, there must be complete transparency with financial dealings.

“However, the vast majority of the millions of people who use companies providing offshore financial products and services are not representative of those high-profile names that have been disclosed in the Pandora Papers.”

CTMfile take:  But the off-shore system regulators don’t do enough to monitor what really is going on. This is a global crime siphoning off huge proportions of countries wealth.

New POS Systems from GoDaddy

The new hardware is for small businesses and is designed to make transactions quick and simple, with most GoDaddy customers able to set up their payments in less than ten minutes. GoDaddy predicts the new hardware could save the average small business thousands of pounds per year.

Small to medium-sized business owners will also benefit from GoDaddy’s holistic perspective on how their business is performing, with the commerce hub syncing inventories automatically across different channels.

Entrepreneurs will be able to configure their devices online when they order it, customising the likes of product listings to logos and even custom receipts. The hardware then ships out fully customised and will be ready for transactions as soon as it arrives and connects to the internet.

The customisable GoDaddy Sart Terminal will be a modern terminal for brick-and-mortar businesses. It has been designed to be versatile and low profile, with a dual-screen so there is no need to switch screens, swivel or install additional hardware. 

 It is a small device but is fully equipped with a 3-in-1 swipe, chip and tap function. The Card Reader also works quickly and intuitively with GoDaddy’s Mobile App. The battery GoDaddy have installed in the Card Reader will last an entire day to make sure you can make every sale possible.

WhatsApp offers QR code payments in Indian stores

Facebook-owned messaging service WhatsApp has announced that the camera icon in its chat composer will allow users to scan  QR codes to make payments in Indian stores.

This will enable, over 20 million stores - which are typically micro and small enterprises – to accept payments via QR code in the country. WhatsApp also introduced the rupee symbol for users to use while transacting. The WhatsApp Business app for small businesses in India already has 15 million enterprises using the service.

Facebook will add, in November 2020, a new Shopping Button for customers to discover business catalogues and purchase goods from within the app. 

They also plan to offer, in their cart. a Carts feature to improve its chat-based buying and selling feature between small businesses and their customers. Small businesses can already accept payments in WhatsApp Business App using their UPI handle.

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