Europe

UBS Group AG decided to end an agreement with the Swiss government to cover losses it could incur from the rescue of Credit Suisse, a sign that the mammoth integration is on track and the stricken lender's assets might be less troublesome than initially feared.

The bank continues to relocate staff following a pause during Covid-19 and is also in the process of moving some products, she said.

The blockchain company's new lead on the Continent, Sendi Young, discusses its plans to foster real-time and cross-border transactions between banks and fintechs in ways that aren't possible on legacy networks.

Novus, a startup whose app helps consumers make environmentally conscious purchases, is using application programming interfaces provided by the two companies to expand quickly. The effort shows how open banking can extend the reach of small companies and create new business lines for larger ones.

The San Francisco data aggregator, which also operates out of London, provides international connections between fintechs and traditional banks.

Visa Inc. has agreed to buy Swedish open-banking platform Tink AB as the payment giant looks to expand beyond its card network.

A collaboration between BC Technology Group and Standard Chartered's SC Ventures wants to make cryptocurrency and related innovations more approachable through the development of a digital asset trading platform.

As stores that went online-only start to reopen their physical locations, JPMorgan Chase is looking to bolster its position among European merchants by adding software from ACI Worldwide that's designed to support payments across multiple channels.

U.K. and EU regulations enable cards that provide digital-first features for funds kept in a different bank's account.

The feature prints users' preferred name on credit and debit cards, and is live in the U.S. with Citigroup, BMO Harris and Superbia Credit Union.

European regulators say App Store fees distort competition, a claim similar to Epic Games' contention in legal action in the U.S. over gaming download charges and transaction routing.

By taking its U.S. card issuing technology to more countries, the fintech is becoming a bigger threat to the acquiring banks that focus on B2B payments.

By taking its U.S. card issuing technology to more countries, the fintech is becoming a bigger threat to the acquiring banks that focus on B2B payments.

For the U.K. payments industry to be in the best position to succeed, keeping consistent with compliance to both U.K. and EU regulations will be critical, says Ecommpay's Paul Marcantonio.

EPI could potentially provide a bedrock for future European payments innovation. It arguably does not go far enough, says Icon Solutions' Michel Vaja.

MoneyGram International is expanding its use of Visa Direct across Europe, allowing its customers to use the company website or mobile app to send money in near-real time to Visa debit card holders in various parts of 25 countries in Europe.

There's a wide open market with plenty of opportunity not just for challenger banks but for financial technology as an industry to set themselves apart from incumbents and gain market share, says Veem's Marwan Forzley.

The U.K. Supreme Court has rejected Mastercard’s attempt to force individual lawsuits over claims the card brand overcharged consumers and negatively impacted competition for more than a decade.

TransferGo will use Mastercard's push payment service to support near real-time money transfers for European customers.

JoomPay Europe S.A. is launching a person-to-person payment app throughout Europe that it says will give consumers an instant money transfer tool similar to what U.S. residents have in Venmo, Square Cash and Zelle.