Today In Payments Around The World: Western Union To Purchase Stake In Saudi Digital Payments Co; India OKs $3.4B Future, Reliance Deal

In today’s top payments news around the world, Western Union Co. has entered into a deal to buy up to 15 percent of Saudi Digital Payments Co., while the Competition Commission of India (CCI) gave the go-ahead to a deal between Reliance Retail and Future Group. Plus, Google is said to be debuting a new crowdsourcing function in India called “Task Mate.”

Western Union Buys 15 Pct Stake In Saudi Digital Payments Co

Western Union Co. has entered into an arrangement to purchase as much as 15 percent of Saudi Digital Payments Co., also known as stc pay, for as much as $200 million. Saudi Digital Payments — stc — is a Saudi Telecom Co. wholly owned subsidiary. Western Union’s action comes as Saudi Arabian authorities take measures to bolster the kingdom’s utilization of digital payment systems in lieu of cash.

India OKs $3.4B Future, Reliance Deal Over Amazon’s Protests

The Competition Commission of India (CCI) gave the green light to a $3.4 billion arrangement between the nation’s two retail giants — Future Group and Reliance Retail — even with protests by Amazon. Reliance will reportedly buy Future’s retail, logistics, wholesale and warehouse operations with the terms of the arrangement.

Google’s ‘Task Mate’ Gives Pay To Consumers For Completing Simple Work, In Trial In India

Google is reportedly introducing a new crowdsourcing function in India named “Task Mate” with the goal of helping individuals get funds via small jobs. The function is reportedly in the nascent stages and restricted to chosen testers. However, the process will reportedly allow users to look for different jobs, finish them and cash out earnings via a registered digital wallet account or the in-app payment partner.

Amazon CEO Jeff Bezos Invests In Chipper Cash In Latest African FinTech VC Deal

African FinTech Chipper Cash has landed a whale of an investor. Chipper CEO Ham Serunjogi noted on Twitter that the upstart just concluded a $30 million Series B round of venture capital. Amazon Founder and CEO Jeff Bezos, who participated via Bezos Expeditions, was among the backers.