European Union

The adoption of payment cards over cash varies by nation, but debit ruled nearly everywhere on the continent.

As anti-money laundering requirements tighten in many jurisdictions, financial institutions and fraud prevention platforms are ditching legacy AML solutions for newer technology — but alternatives aren’t easy to come by yet.

Even though security vendors and payments providers are telling merchants they are ready to provide compliance for PSD2 on Sept. 14, a significant challenge remains in the learning curve and technology needs for merchants.

Processors that rely on cross-border payments to reach new territories are feeling the economic squeeze of the looming Brexit deadline.

Brexit seems more likely than ever, as the U.K.'s new prime minister, Boris Johnson, has committed to meeting the October 31 deadline for a deal to leave the EU. But despite the lingering uncertainty over how that will happen, Mastercard is not abandoning its bullish stance on Europe.

Investments in open-banking fintechs have accelerated recently, as many European banks are struggling to implement PSD2-compliant open banking APIs to meet the EU’s September 2019 deadline.

A Spanish effort to prosecute a gang that used Bitcoin automated cash machines suspected of being a front for illegal-drug payments has exposed a hole in European anti-money-laundering controls, law enforcement authorities in the country said.

Payment solutions that lower the cost of electronic payments through exchange rate transparency ultimately improve the buyer’s relationships with their suppliers, writes Nvoicepay's Alyssa Callahan.

The U.S. and Europe should continue to harmonize their banking rules, including for foreign banking operations, just as they did in the wake of the financial crisis.

British bank NatWest will launch a merchant acquiring service to attract small and midsize businesses in the U.K. and other countries.