Today In Payments Around The World: RecargaPay Lands $70 Million; Didi Plans To Bring Service To Europe

In today’s top payments news around the world, RecargaPay has notched $70 million in a Series C funding round to expand its payments platform, while Didi Chuxing Technology plans to bring its ride-hailing service to Western Europe. Plus, Google’s former CEO is warning of China’s tech advances.

Brazil’s RecargaPay Raises $70 Million To Expand Payments App

RecargaPay has landed $70 million in a Series C funding round to grow its payments platform for individuals and small companies. The funding round, which was headed by Fuel Venture Capital and IDC Ventures, brings RecargaPay’s overall funding to more than $100 million. Other backers include ATW, LUN Partners and Experian.

Didi Chuxing Plans To Bring Its Ride-Hailing Service To Europe

Didi Chuxing Technology intends to bring its ridesharing offerings to western Europe. The firm has the dominant share of the ridesharing market in China. Didi has created a team to concentrate on the European market and is hiring in the area. It could also provide food delivery and errand services if there is enough market demand.

Ex-Google Chief Eric Schmidt Warns Of China’s Tech Advances

The former CEO of Google told Congress that there is a pressing need to accelerate the pace of technology innovation to keep pace with China. Eric Schmidt said per a published report that the threat of China’s swift advancements in technology is “very, very real.” His comments arise as President Joe Biden is facing pressure to take a hard line on China.

Social Media Will Soon Face Tough New Regulations In India

The Indian government is putting new rules into place that will bolster the oversight of social media sites, news outlets and streaming platforms. The new mandates come after a rift between Twitter and the Indian government regarding the social media site’s refusal to block accounts communicating about farmer’s protests in the nation.

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