U.K.

Many large European banks are developing their own services to comply with the data-sharing requirements of PSD2, but thousands of smaller and midsize organizations will need help, seeding the growth of startups specializing in open banking tools.

U.K. consumer spending had its first January decline in five years last month, dealing another blow to the hopes of retailers after an inflation squeeze sapped demand in 2017.

The U.S. charged 36 people in a takedown of an international cybercrime ring that prosecutors say used the slogan “In Fraud We Trust” and stole $530 million with the help of pilfered identities and malware.

"Ring-fencing" is designed to reduce risk, but will lead to major changes in transaction infrastructure and open a temporary door for fraudsters, according to Marcus Hughes, head of strategic business development at Bottomline Technologies.

Wirecard is working with Fortress GB on new payments technology that will enable fans of two U.K.-based football clubs to earn points and cash-back rewards when making purchases inside stadiums at sporting events — and will track their spending data to decide on future offers.

A fintech investment surge is underway across Europe. What’s unknown is how the looming Brexit situation may affect the U.K.’s strong fintech momentum, and where exactly funds would flow if talent and startups flee Britain.

The all-in-one card market is littered with the carcasses of unsuccessful ventures, but Curve's Shachar Bialick insists his initiative has a model and a headstart that will help it fight the market's considerable headwinds.

Visa did not attribute its shutdown to the use of bitcoin, but the incident is a further reminder — as if one was needed — that cryptocurrencies' volatility extends beyond their dramatic pricing swings.

One of the indirect offshoots of Brexit is a government program that's designed to keep the U.K. relevant by lending a hand to new companies.
The program, FCA Innovate, may have a global effect by nurturing companies that aim to retire static authentication modes such as usernames and passwords.

In a move designed to strengthen its capabilities for integrated payments, processor and technology provider Total System Services has agreed to acquire Cayan for $1.05 billion. The news shortly follows another deal valued in the billions — Thales agreeing to buy the chip maker Gemalto for $5.4 billion.