TechPression

Tag: Canada

  • AST SpaceMobile completes $113M deal for L-Band spectrum, gains independence from AT&T and Verizon

    AST SpaceMobile completes $113M deal for L-Band spectrum, gains independence from AT&T and Verizon

    AST SpaceMobile has acquired a 45MHz block of L-band spectrum across the U.S. and Canada from Ligado Networks, following Ligado’s declaration of bankruptcy. This acquisition allows AST to provide satellite-based cellular services independently, no longer reliant on partners like AT&T or Verizon.

    Previously, AST had agreements with major carriers, including Verizon and AT&T, to use their licensed frequencies to provide satellite connectivity to customers’ phones.

    However, with the new spectrum rights, AST can now operate independently, strengthening its ability to transmit satellite data directly to phones via the acquired radio bands.

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    Ligado Networks, which was also working on cellular satellite services in collaboration with Viasat and Skylo, declared bankruptcy on Monday. As part of the deal, AST SpaceMobile exchanged approximately $113 million worth of stock for the spectrum rights. In return, Ligado granted AST the right to use the spectrum for more than 80 years across U.S. and Canada.

    The acquisition strengthens AST’s ability to transmit satellite data to phones through the additional radio bands. The company is celebrating the deal as a victory, marking its transition to an independent satellite service provider.

    AST SpaceMobile now independent of offering its cellular satellite services 

    This implies that AST is not dependent on its carrier partners and can provide its cellular satellite services on its own.

    AST has agreements with Verizon and AT&T in the US to eventually provide satellite connectivity to customers’ phones, but only using their licensed radio frequency.

    Although AST did not provide specifics, it anticipates that the Ligado agreement will enable it to expand its capacity “while enabling peak data transmission speeds up to 120Mbps to everyday smartphones everywhere in the continental United States.”

    The drawback is that older phones usually don’t support L-band reception, so AST might have to reconfigure its BlueBird satellites to utilise the L-band spectrum, according to satellite industry analyst Tim Farrar.

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    AST SpaceMobile sent first BlueBird satellites into Earth’s orbit 

    In September, AST sent its first set of BlueBird satellites into Earth’s orbit. However, the company still needs to launch dozens of more satellites before it can start providing US clients with complete coverage.

    Furthermore, regulatory clearance is still required for AST to test and run such services for profit in the United States.

    The company’s agreement with Ligado is anticipated to be finalised in the first half of 2025.

    Ligado might get $550 million from the purchase, according to AST, if specific closing conditions are met. For spectrum usage rights, AST SpaceMobile would also “give Ligado long-term net revenue sharing rights” and pay roughly $80 million annually.

  • Spotify unveils Partner Program for creators to monetise content

    Spotify unveils Partner Program for creators to monetise content

    Spotify has officially launched its Partner Program today. The program aims to empower creators in the U.S., UK, Canada and Australia.

    This initiative allows creators to earn revenue based on engagement from paid subscribers, similar to YouTube‘s model.

    With over 640 million users and more than 250 million subscribers, Spotify aims to enhance its platform for creators while providing an enriched experience for users.

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    Transforming monetisation for creators

    The Partner Program introduces a dual-revenue model, offering audience-driven payouts from video engagement and ad monetisation on Spotify Free.

    This flexibility enables creators to navigate industry changes better and maintain a steady income. Since its announcement on November 13, 2024, nearly 65 percent of eligible shows have enrolled, indicating strong interest among creators.

    Jim Harold of The Paranormal Podcast remarked, “The Partner Program allows us to expand into long-form video, giving our loyal audio listeners an enriched experience while attracting new viewers.”

    Zach Misischia of The Makeshift Podcast echoes this sentiment: “This program lets us monetise effectively without disrupting our listeners’ experience.”

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    Enhancing user experience

    Spotify’s new features include Podcast Clips and short videos designed to promote shows and facilitate discovery.

    These clips have proven to be 33 per cent more effective than traditional previews in converting casual browsers into engaged listeners. With the absence of dynamic ads for Premium users during video playback, the viewing experience is significantly improved.

    Spotify’s founder, Daniel Ek, has emphasised the company’s commitment to supporting creators and enhancing user engagement.

    The Partner Program represents a strategic move to solidify Spotify’s position as a leader in the podcasting space while fostering a sustainable ecosystem for creators.

    As Spotify continues to innovate and expand its offerings, the Partner Program stands out as a promising avenue for creators looking to monetise their content effectively.

  • SwapMoney expands operation to Canada

    SwapMoney expands operation to Canada

    A Nigerian-owned money service company with its headquarters in the UK, SwapMoney, has successfully registered with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).

    This gives Canadian individuals and companies access to Swapmoney’s payment solutions for multi currency virtual wallets and international money transfers.

    This noteworthy accomplishment represents a critical turning point in SwapMoney’s mission to offer safe, affordable, and cutting-edge financial services to a worldwide clientele.

    The FINTRAC registration procedure is a demanding one that necessitates adherence to strict regulatory guidelines. The fact that SwapMoney was able to register successfully demonstrates its commitment to maintaining the highest levels of financial security, compliance, and transparency.

    With this new registration, SwapMoney is prepared to expand its financial services into the Canadian market and provide both individuals and businesses with a large range of practical and effective money transfer options.

    “Completing our FINTRAC registration is a significant step forward in SwapMoney’s journey to becoming a trusted global financial partner. We look forward to strategic partnership with a Canadian bank as we have done in the UK with ClearBank, a partnership forged since 2021 that has allowed us collect and keep customer funds safe in a segregated account. We are positive that our experience in the UK and product offerings will put us in good stead to serve our Canadian customers even better. Canada here we come!” said Abiodun Okono, CEO and Co-Founder at SwapMoney.

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    Comments from Swapmoney

    In addition to expressing his excitement about the chance to serve the Canadian market, Mr Okono stressed that SwapMoney’s mission to streamline international financial transactions and make cross-border payments as simple and inexpensive as local payments are aligned with the company’s expansion into Canada. He also told Canadians that SwapMoney will continue to be dedicated to offering secure, dependable, and easily navigable financial solutions that empower its clients.

    This significant accomplishment, along with the business’s commitment to ongoing security and compliance enhancement, has led to the release of a new mobile app, which is now available on iOS and Google Playstore. The app will enhance user experience and boost customers’ trust in Swapmoney for financial transactions.

    About SwapMoney

    Launched in 2020, SwapMoney is a Money Services Business (MSB) located in the UK with the goal of making cross-border payments easier for SMEs, migrants, and expatriates. With an FCA licence and a dedication to compliance, security, and openness, SwapMoney provides businesses and individuals with an easy-to-use, safe, and secure platform for sending and receiving money internationally.

    The company’s goal is to enable clients with quick, easy, safe, and effective financial solutions, thereby simplifying and expediting cross-border transactions. Remittances in over 30 currencies are available from Swapmoney to over 100 countries, including Nigeria, Kenya, the United States, China, Japan, Turkey, and Europe.

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    What FINTRAC does

    Money laundering and the funding of terrorist activities can be better detected, prevented, and discouraged with the help of The Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). Its primary roles in policy and programme administration are:

    Following the law when it comes to receiving reports on financial transactions and voluntary information.

    Keeping personal information under its control secure.

    Verifying that reporting entities adhere to all applicable laws and regulations.

    Keeping a database of Canadian money service providers.

    Developing financial data useful for anti-money laundering, counter-terrorism, and national security investigations.

    Investigating and analyzing data from multiple sources to reveal patterns and trends in the funding of terrorist activities and money laundering.

    Raising public knowledge and comprehension of these topics.

  • Canada announces innovative immigration tech talent mechanism for Africans 

    Canada announces innovative immigration tech talent mechanism for Africans 

    Canada has launched its first-ever immigration tech talent mechanism, aiming to create fresh employment prospects for African citizens.

    This initiative comes in the wake of Germany passing an immigrant law to attract more non-European Union workers. 

    The talent strategy was unveiled at the 2023 Collision Conference in Toronto and incorporates new measures and enhancements to support Canada’s business sector in a competitive environment.

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    Streamlining Highly Talented Individuals’ Immigration Process

    Canada’s Minister of Immigration, Refugees and Citizenship, Sean Fraser, announced the development of a specific immigration stream for exceptionally skilled individuals in the tech industry. 

    This stream will enable these talented professionals to work in Canada, even without a job offer from a tech company. The objective is to attract the world’s brightest minds and foster innovation within the country.

    As part of the talent strategy, Canada will implement a digital nomads strategy, allowing individuals employed by foreign companies to work in Canada for a duration of up to six months. 

    These individuals will be encouraged to reside in Canadian communities, contribute to the local economy, and seek job opportunities during their stay. If successful in securing a job offer, they will have the opportunity to remain and work in Canada.

    Emulating Successful Practices from the US Tech Sector

    Canada has been closely monitoring the tech sector in the United States, which has witnessed layoffs. Recognizing the potential for talent acquisition, Canada seeks to capitalize on these opportunities by offering a favorable environment for tech professionals. This includes creating avenues for 10,000 H-1B visa holders from the United States to work in Canada, commencing from July 16.

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    Addressing Demographic Challenges

    Canada’s ageing population and declining birth rate have resulted in a shrinking labor force. To counteract this trend, the country has intensified its efforts to attract a large, young, and vibrant immigrant population by implementing immigration-friendly policies. In 2022, Canada welcomed 437,120 Permanent Residents (PRs), an increase of nearly eight percent compared to the previous year.

    Canada’s innovative immigration tech talent mechanism reflects its commitment to becoming a global leader in emerging technologies.

     By creating specialized immigration streams, implementing a digital nomads strategy, and actively seeking tech professionals from the United States, Canada aims to bridge the talent gap and ensure the realization of innovative ideas. As the country continues to prioritize immigration-friendly policies and set ambitious targets for welcoming newcomers, it endeavours to solidify its position as a premier destination for global talent. 

  • Klasha acquires MSB license to operate in Canada

    Klasha acquires MSB license to operate in Canada

    Nigerian startup Klasha, the industry leader in global cross-border payments, has announced that it has been awarded a Money Services Business (MSB) license by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). 

    This license allows Klasha to legally operate as a money services business in Canada. Klasha is now authorized to conduct business in Canada as a provider of monetary services thanks to this licence.

    The MSB license that was awarded to Klasha is an important landmark for the H2 growth strategy that the company is pursuing. Klasha is now able to offer financial services to companies in Africa that want to accept payments from or transfer payments into the continent as a result of the company getting this license. 

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    These services include processing payments and foreign exchange transactions.

    The acquisition of the license by Klasha is in accordance with the company’s aim to promote smooth online cross-border payments between Africa and the rest of the globe by delivering solutions for online payment that are easy to use, quick, and accessible.

    Since 2021, Klasha has been operating in Africa as a provider of cross-border payment services, and the company has rapidly established itself as a dominant participant in the industry. Klasha is a licenced payment service provider (PSP) in a number of different African countries, where it presently services over 2500 merchants across six different countries.

    Klasha is now in a position to provide its cutting-edge payment services to Canada, thanks to the company’s recent acquisition of a Money Services Business (MSB) licence, which will further extend its reach and effect in the global payments sector.

    Remarks from the CEO of Klasha

    “We’re thrilled to have obtained the MSB license from FINTRAC. This license enables us to operate from Canada, allowing us to reach more global merchants who want to accept payments or send payments into Africa,” said Jess Anuna, CEO of Klasha. “This represents a significant step towards expanding our footprint and delivering our cutting-edge payment services to merchants in one of the world’s most dynamic economies.’’

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    About Klasha

    Klasha is a technology startup that enables foreign businesses to sell their goods and services online across borders to millions of customers in Africa using African payment methods. 

    The company has developed a payables and receivables solution for businesses and customers that enables the movement of funds between Africa and the rest of the world without any friction. American Express, Greycroft, and Seedcamp are among the organisations that have invested in the company.

    Klasha is an online retailer of fast fashion that was specifically developed to deliver innovative and inexpensive fashion to highly connected millennial women in emerging countries, particularly in Africa. It was founded in 2018 by Jessica Anuna, who is 28 years old and serves as its CEO.

    Through the use of Klasha Wire, you will be able to easily send significant payments to your foreign vendors in local African currencies, such as naira, cedis, or any of the other African currencies. In addition to South Africa and Tanzania, Zambia, and Uganda, the company is also involved in Nigeria.

  • Google supports Meta’s news access restriction in Canada

    Google supports Meta’s news access restriction in Canada

    Meta and Google have initiated tests to limit news access for Canadian users following the passage of a contentious online news bill by the Canadian parliament. 

    Facebook and Instagram users will no longer have the ability to view or share news content on these platforms in Canada. This change aims to comply with the legislation’s requirements and addresses Meta’s concerns about compensating news publishers.

    Notably, Facebook had previously blocked Australian users from sharing or viewing news content in response to a similar law enacted in 2021.

    Canada’s Online News Act, recently approved by the Senate, introduces regulations that mandate platforms like Meta and Google to engage in negotiations with news organizations and provide financial compensation for the content they share. The legislation aims to enhance fairness in the Canadian digital news market, enabling struggling news organizations to secure fair compensation.

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    Meta’s Response and News Availability Changes

    In response to the new legislation, Meta has criticized the Online News Act, referring to it as “fundamentally flawed legislation that ignores the realities of how our platforms work.” 

    The company announced that it would terminate news availability on Facebook and Instagram for all Canadian users before the bill comes into effect. Despite these changes, Meta assures that other services for Canadian users will remain unaffected.

    Google’s Stance and Collaborative Efforts

    Google also expressed concerns about the bill, calling it “unworkable” in its present form. 

    The company is actively seeking to collaborate with the government to find a viable solution moving forward. Google emphasizes the necessity of reaching a mutually agreeable “path forward” that balances the interests of all stakeholders involved.

    Canadian Government’s Rationale and Analysis of the Bill

    The Canadian federal government argues that the Online News Act is necessary to promote fairness within the Canadian digital news market and assist struggling news organizations in receiving proper compensation for their content shared on platforms. 

    An independent analysis conducted by a parliamentary budget watchdog estimated that news businesses could receive approximately C$329 million ($250 million; £196 million) annually from digital platforms.

    Canadian Heritage Minister Pablo Rodriguez has strongly criticized the ongoing tests conducted by tech platforms, deeming them “unacceptable” and a potential threat. Despite meeting with representatives from Google and Facebook, Rodriguez’s office asserts that the government will proceed with the implementation of the Online News Act, emphasizing the need to stand up for Canadians against powerful tech giants.

    Media Industry’s Perspective and Implications

    Industry groups within the media sector have applauded the passage of the bill as a significant step toward achieving market fairness. Paul Deegan, President and CEO of News Media Canada, a media industry group, highlights the importance of supporting real journalism, which plays a vital role in democracy but requires substantial financial resources.

    Timeline and Future Implementation

    The Online News Act is expected to come into effect in Canada in six months’ time, marking a significant change in the relationship between platforms, news organizations, and Canadian consumers.

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    How the restrictions will affect Canadians

    The consequences of the Online News Act may result in a decrease in the diversity and availability of news for Canadians. As platforms like Meta and Google negotiate commercial deals with news organizations and pay for content, it is possible that certain publishers or smaller news outlets may struggle to secure such agreements. This could lead to a potential decline in the variety of news sources accessible to Canadian users.

    The bill’s implementation is expected to have a significant impact on news publishers in Canada. News organizations will have the opportunity to negotiate commercial deals with platforms like Meta and Google, ensuring fair compensation for their content. This provision aims to support struggling news organizations and provide them with a reliable source of revenue. 

    The Online News Act has the potential to provide a much-needed economic boost to the news industry in Canada. The estimated annual compensation of approximately C$329 million ($250 million; £196 million) from digital platforms suggests that news businesses could receive substantial financial support. This injection of funds could contribute to the sustainability and growth of the news sector, ultimately benefiting Canadians by ensuring a robust and thriving media landscape.

    The restrictions imposed by the Online News Act may impact the user experience for Canadians on Meta platforms. Without access to news content, users may need to seek alternative sources of information outside these platforms, such as visiting news websites directly or exploring other social media platforms that continue to provide news access. This shift could potentially lead to changes in how Canadians consume news and engage with online content.

    The Online News Act presents a challenge in striking a balance between news access and the sustainability of digital platforms. While the legislation aims to ensure fair compensation for news publishers, Meta and Google have expressed concerns about being compelled to pay for links or content, they did not post. This tension highlights the need to find a workable solution that supports the news industry while considering the operational realities and long-term viability of the platforms themselves.

    The Canadian government’s decision to implement the Online News Act reflects its commitment to safeguarding the interests of Canadians in the digital space. By pushing for fair compensation for news and promoting market fairness, the government aims to create a level playing field between tech giants and news organizations. The bill’s implementation demonstrates the government’s dedication to standing up against powerful platforms and ensuring a healthy and vibrant news ecosystem in Canada.