Happy Tuesday!
In this article:
HSBC Launch Virtual Debit Cards for UAE Businesses
The Quantum Theory Of Media
Pay As You Grow Allows Flexible Repayments on Bounce Back Loans for Smaller Biz
AI fairness is an economic and social imperative. Here's how to address it
A.I. Displays an unsettling skill: The ability to show empathy
Buy-now-pay-later fintechs such as Klarna face regulatory clampdown
HSBC Launch Virtual Debit Cards for UAE Businesses
HSBC has launched virtual debit cards for businesses in the UAE, a move that is a banking first in the Middle East. The launch reinforces HSBC’s commitment to pioneering digital enhancements to meet the rising demand for more flexible payment solutions.
HSBC’s Virtual Debit Cards, which operate on the Visa platform, generate single-use card numbers, or ‘tokens’, for each transaction, with the payment debited directly from the corporate cardholder’s current account. Using Visa’s Payables Automation platform, a card is distributed electronically, protecting the primary card number and providing enhanced payment security and efficiency.
The Quantum Theory Of Media
The digital media made the switching between streams of content not only easier but also tempting: the lion’s share of the content we receive digitally is about clicking the ever-more-interesting links and jumping to somewhere else. It was not that easy to switch between content streams in books; one couldn’t do so without switching the books themselves. Newspapers offered a mosaic, but the reader still stayed within the same physical print issue. Old media kept users imprisoned within an allotted chunk of content.
When magazine publishers decided to advertise magazine reading in 2010 (in those romantic times, they still hoped to return the readers to print), they used the image of Olympic swimmer Michael Phelps and the motto: “We surf the Internet, we swim in magazines”
Pay As You Grow Allows Flexible Repayments on Bounce Back Loans for Smaller Biz
The British Business Bank, the UK’s economic development bank, today announces further details of Pay As You Grow, which helps UK smaller businesses that have taken out a Covid-19 emergency Bounce Back Loan to manage their cash flow and have a better chance of getting back to growth.
Originally announced by the Chancellor of the Exchequer in September 2020, Pay As You Grow (PAYG) will enable businesses who have started repaying their Bounce Back Loans to:
request an extension of their loan term to 10 years from six years, at the same fixed interest rate of 2.5%.
reduce their monthly repayments for six months by paying interest only. This option is available up to three times during the term of their Bounce Back Loan.
take a repayment holiday for up to six months. This option is available once during the term of their Bounce Back Loan.
AI fairness is an economic and social imperative. Here's how to address it
Humans have many kinds of bias; confirmation, anchoring and gender among them. Such biases may lead people to behave unfairly and, as such, as a society we try to mitigate them.