In today’s top payments news around the world, Darktrace is intending to make its public debut on the London Stock Exchange, while Huawei is betting on the electric car market in China. Plus, moneycorp has named a cross-border payments pro as vice chair.
Cybersecurity Firm Darktrace Seeks London IPO
Darktrace is intending to go public on the London Stock Exchange, an initial public offering (IPO) that could value the firm at $4 billion. The British cybersecurity company harnesses artificial intelligence (AI) to find threats to IT systems, with a self-learning technology that the firm says can monitor threats live and figure out methods to respond.
Huawei Bets $1 Billion On Electric Car Market In China
Automotive firms throughout the globe are speeding ahead with their electric car initiatives. Now, Huawei’s deputy chairman, Eric Xu, said the firm “will invest more than $1 billion on car component development this year,” according to a published report. The $1 billion investment encompasses self-driving and electric car technologies. Shenzhen-based Huawei is most known for its consumer electronics and telecommunications equipment.
Moneycorp Names Cross-Border Payments Pro David Yates Vice Chair
Moneycorp has named international payments specialist David Yates to the position of its vice chairman. “As a recognized thought leader in scheme, bank and off-net payments, David will help us unlock new opportunities, so we can help more customers to thrive in an increasingly global world,” moneycorp CEO Mark Horgan said in an announcement.
South Africa Telco MTN Targets $5 Billion For Mobile Money Expansion
MTN, which is based in South Africa, has a plan to value its mobile money division at more than $5 billion. The firm is getting ready to sell or list a minority stake to attract more international investors, who are looking to capitalize on fast-growing FinTech assets. CEO Ralph Mupita said the division should be worth a minimum of $5 billion to $6 billion.
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