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Today in the Connected Economy: Nasdaq Keeps Closer Eye on IPOs

by WorldFinance
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Today in the connected economy, Nasdaq is reportedly examining companies’ initial public offerings (IPOs) after some companies saw massive gains and big drops in quick succession.

Also, buy now, pay later brand Affirm begins offering its services to Amazon customers in Canada, and the Department of Justice looks to crack down on criminals who use NFT sales to commit money laundering.

Report: Nasdaq Looking More Closely at IPOs After Big Ups and Downs

Nasdaq is reportedly increasing its scrutiny of small-cap companies’ IPOs in the wake of some new listings seeing large gains followed by similarly large drops.

The stock exchange is taking a closer look at companies in a variety of industries and countries, and some companies have reacted to the uncertainty by putting off their IPO plans, Bloomberg reported, citing unnamed sources.

A Nasdaq spokesperson told PYMNTS in an email that the exchange’s “markets are and will continue to be open to companies. As a self-regulatory organization, Nasdaq will conduct careful and diligent review of companies that intend to list on our markets.”

Affirm to Extend BNPL Option to Amazon Customers in Canada

Payment network Affirm’s buy now, pay later (BNPL) offering, currently available to American Amazon customers, will soon be offered to the retailer’s users in Canada as well.

In the next month, eligible customers on Amazon.ca will be offered BNPL in French and English, Affirm said in a news release.

“Since launching with Amazon in the U.S., we’ve been providing eligible Amazon customers with a powerful tool to responsibly increase their purchasing power,” Affirm Chief Revenue Officer Geoff Kott said.

“We are excited to bring customers shopping on Amazon.ca the opportunity to pay for everyday items and milestone purchases with Affirm as we deliver the same level of transparency and flexibility that customers have come to expect from Affirm across our markets in North America and beyond.”

DOJ Asks Congress for Tools to Limit NFT Money-Laundering Risk

The Justice Department has issued to Congress that could make it a lot harder to buy and sell NFTs, according to a recent government report on crypto crime.

Pointing to examples of criminals laundering funds through the sale of the popular nonfungible tokens, the Justice Department asked Congress to define some of all NFTs as “value that substitutes for currency” under the Bank Secrecy Act.

Doing so, it said in the report, would “make clear that its key [anti-money-laundering (AML) and countering the financing of terror (CFT)] provisions — including the obligations to have customer identification programs and report suspicious transactions to regulators — apply to NFT platforms, including online auction houses and digital art galleries.”

Stripe to Power MAN Truck & Bus Payments Tool

Global logistics firm MAN Truck & Bus has teamed with financial infrastructure platform Stripe to test a new product that will orchestrate payments between MAN truck fleet owners and their service partners, with the help of Stripe payments and Stripe Connect.

The product, MAN SimplePay, is designed to streamline and facilitate payments for partner repair shops and services, leading to a frictionless and unified brand experience.

“MAN SimplePay is a more efficient way for fleet owners to control and administer payments across their fleet,” said Johannes Huber, project manager of MAN SimplePay. “A fleet owner can operate multiple MAN vehicles which typically operate six or seven days a week.

Circle K Helps NCR Expand Its ATM Offerings

Enterprise technology firm NCR Corporation has expanded its partnership with convenience store chain Circle K, putting its Allpoint ATMs in more than 3,500 stores.

The companies say it provides a new financial destination for 60 million cardholders on the Allpoint network, part of a wider effort by NCR to expand access to services.

“Consumers want high-quality financial access everywhere — where they work, on their phones, and, naturally, where they shop,” said Don Layden, executive vice president, payments and network at NCR.

“Forward-thinking merchants like Circle K clearly see the value of meeting this need.”

 

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