The Russian financial system could survive even if disconnected from the global SWIFT interbank payment system, according to the head of the country’s VTB Bank, Andrey Kostin, Reuters reports. But Kostin doesn’t think that’s going to happen. “It would be a very serious measure, ‘unfriendly’...
The anti-monopoly bureau in China plans to ramp up its action against monopolistic behavior, according to chief Gan Lin, Reuters writes. Last month China had boosted the antitrust unit’s seniority. Gan was appointed then as chief. These moves were intended to bolster the abilities of...
The European Commission launched on Tuesday (Dec. 14) the European Alliance for Industrial Data, Edge and Cloud. This project is part of the European Data Strategy, created in 2020, which aims to create a single EU data market and to have more control of the...
Embedded banking and banking-as-a-service (BaaS) have been mainly concentrated in the FinTech and financial services domain, but that is gradually changing as non-financial services platforms take the plunge into financial services for the first time. In July, Apple and Goldman Sachs announced the launch of...
In today’s top Europe, Middle East and Africa news, Norway’s Visma acquires Danish expense management solution Acubiz and J.P. Morgan’s British retail bank Chase expands its staff and its product suite. Plus, Klarna teams with GoCardless for its U.S. expansion, the European Union may regulate...
Unlike other European payment service providers, Market Pay has a unique characteristic. Founded in 2016 by French retail giant Carrefour, the payment platform was designed to support the group’s worldwide omnichannel retail operations, a sector connection that differentiates it from traditional players and competitors in...
In today’s top Europe, Middle East and Africa (EMEA) news, Poland investigates Apple; a U.K. buy now, pay later (BNPL) startup for car repairs snags $12 million from Porsche and Jaguar; the omicron variant triggers restrictions in Norway; Pecunpay is the first Spanish issuer of...
The fiat-to-crypto trading platform Binance.sg has withdrawn its permit application to operate a bourse in Singapore from the Monetary Authority of Singapore (MAS), according to multiple reports on Monday (Dec. 13). Binance.sg is the Singapore affiliate of the world’s largest cryptocurrency exchange and was one...
Ireland’s competition watchdog announced Wednesday (Dec. 8) that is launching a full investigation into Synch Payments, a joint venture by AIB, Bank of Ireland, Permanent TSB and KBC. Synch Payments was developed as a digital payment system to compete with Revolut, N26 and similar rivals....
