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License plates
Brexit has played a large role in challenger bank Revolut's expansion strategy, particularly its effort to register in enough jurisdictions to operate without disruption.
Revolut has applied for a banking license in the U.K., which would allow it to offer insured deposits, loans, and overdraft protection. The fintech already has a banking license in Lithuania, which covers the European Union. While based in London, Revolut has an e-money license there.
Licensing has become a major part of Revolut's cross-border strategy, with a
Digital new year
The Monetary Authority of Singapore is pushing e-hong baos, or a digital red envelope, as gifts during the upcoming Lunar New Year in February, replacing the traditional practice of delivering gifts of cash.
The MAS considers the digital gifts to be more sanitary and environmentally sound. It's also a way to reduce lines at ATMs and branches, and is consistent with virtual celebrations as a replacement for mass gatherings.
The Association of Banks in Singapore is planning a public service campaign to promote digital gifting. Other Asian countries have also promoted digitizing gifts in recent months, with
Central bank cash machine
The Agricultural Bank of China has deployed several ATMs in Shenzhen to test the country's digital yuan.
Consumers can make deposits or withdrawals from current savings accounts, reports
China is considered to be further along in digitizing its currency than the U.S. and most European countries, and is running pilots with a network of supporting merchants including
Airtime
Airtel Uganda and Mastercard have launched a virtual debit card that allows the mobile operator's customers to make payments without requiring a bank account.
The virtual card is usable at any merchant in Mastercard's network and is attached to Airtel's digital wallet. Consumers can delete or create new cards at any time, according to
Airtel's network of mobile operators in Africa recently made a similar deal with
From the web
TECHCRUNCH | Tuesday, January 12, 2021
Payments company Checkout.com is raising once again. The company has closed a $450 million Series C round with Tiger Global Management leading the round — Greenoaks Capital and all existing investors are also participating.
TECHCRUNCH | Tuesday, January 12, 2021
Curve, the London-based fintech that combines multiple cards and accounts into one smart card and an app, has secured a Series C funding round of $95 million.
THE VERGE | Monday, January 11, 2021
Salesforce has “taken action” to stop the Republication National Committee (RNC) from sending emails that could incite violence, though the company won’t say what that action is. The RNC is using ExactTarget, a Salesforce tool, for campaign emails.
More from PaymentsSource
FrontStream Payments has integrated its disbursement services with the Salseforce.org Philanthropy Cloud in a move it says should help corporations drive employee engagement in giving through an easier process for making donations.
The original coronavirus stimulus program in 2020 stumbled out of the gate, delaying payments for months and exposing America's lack of universal access to the financial system. With round two, it's the digital rails that are sputtering early on.
In a bid to expand contactless card acceptance, Mastercard is testing its Cloud Tap on Phone tech with Napa, Calif.-based IT services provider Computer Engineering Group (CEG).
Affirm Holdings Inc., which provides installment loans to online shoppers, increased the price range for its initial public offering, seeking to raise as much as $1.1 billion when it goes public this week.
NCR Corp. offered to buy Cardtronics Plc for more than $1.7 billion, beating an earlier bid for the ATM operator from Apollo Global Management Inc. and a partner.
Citizens Financial Group has branded its point of sale lending software as Citizens Pay, saying it wants to more clearly define it as a merchant tool for "budget-friendly payment options" for customers who want a transparent and predictable way to finance purchases.
Silicon Valley's largest companies are rapidly distancing themselves from outgoing President Donald Trump, following last week's right wing domestic terrorist attack on the Capitol.
Organizations of every size are facing a similar problem: The volume and complexity of the data they collect, store and handle are growing significantly – so much so that manual processing is now simply impossible. The good news: Automation can help businesses tame their data.
The widespread shift to e-commerce and touchless payments during the pandemic has escalated fraud risk in those channels, including the possibility of fraudsters combining altered photos with synthetic ID, Experian warns.
Thousands of U.S. merchants are weighing measures to freeze acceptance of Alipay and WeChat, two of the ight Chinese mobile payment apps that would be blocked if outgoing President Trump’s recent executive order goes into effect.
I look forward to seeing digital currencies brighten up our antiquated banking infrastructure and embrace the global move toward e-commerce. For now, though, I’m not holding my breath, says T1 Payments' Donald Kasdon.
Equifax agreed to acquire Kount, which offers fraud protection for e-commerce retailers, for $640 million.
The Treasury Department and IRS are sending out approximately 8 million Visa prepaid cards to deliver a second round of Economic Impact Payments (EIPs) to consumers.
