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Mastercard: Full Tokenisation by 2030
Mastercard [MA] has announced ambitious plans to completely tokenise its European transaction network. “By the end of the decade, all transactions will be tokenised,” Valerie Nowak, Chief Product & Innovation Officer, Europe, at Mastercard, told London Tech Week on Tuesday. This will involve phasing out manual card detail entry in Europe by 2030 in favour of a one-click button, utilising biometric data already used to log onto phones in place of passkeys.
Apple Fails to Wow
Apple [AAPL] rolled out new AI tools — known as Apple Intelligence — on Monday, including an OpenAI chatbot to support its Siri voice assistant. However, the launch did not meet expectations, Bloomberg reported, sending shares of key suppliers in Asia tumbling on Tuesday. Elon Musk said he would ban Apple products at his companies should OpenAI’s ChatGPT be used, calling it “an unacceptable security violation”.
Echoes of TikTok: Japan Draws a Line
Japan is pointing to data leaks at Line Yahoo, jointly owned by Japan’s SoftBank [9984.T] and South Korea’s Naver [035420.KS], as a risk to national and economic security, the Financial Times reported. It is demanding that the South Korean company cut its 50% stake in the holding company for Line Yahoo Japan. “Everyone in these discussions about Line has TikTok in the back of their minds,” one investor in SoftBank in Tokyo told the FT.
Automakers Pessimistic on EV Manufacturing in South Africa
Despite government efforts to establish the country as a manufacturer of electric vehicles (EVs), international auto manufacturers appear unlikely to set up shop in South Africa anytime soon. Even though South Africa is offering a 150% tax deduction for investment in EV facilities, both Volkswagen [VOW:DE] and Isuzu [7202:T] have signalled they expect to focus on the African market — where EVs are unlikely to dominate in the near future — rather than grapple with costs of exporting to markets such as the EU.
Breakthroughs Against Covid-19, Flu and Alzheimer’s
Moderna’s [MRNA] mixed Covid-19 and flu vaccine proved to be more effective than existing options in late-stage trials; the pharmaceutical was the first to announce positive phase-three results on the combo shot, giving it an edge over Pfizer [PFE] and Novavax [NVAX]. On Monday, the Food and Drug Administration recommended the Alzheimer’s drug developed by Eli Lilly [LLY], putting it one step closer to approval.
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