U.K.

There is a growing proliferation of social P2P technologies within the U.K. banking sector, but the market for such payments is vastly different from that in the U.S., where social payment apps have found a welcoming audience.

The FIS-Worldpay merger is the largest international payments deal to date, significantly topping the recent Fiserv-First Data merger that turned heads at the beginning of the year. But the FIS deal’s strategic implications could be more interesting than the raw numbers.

The financial services technology company FIS has agreed to buy Worldpay. The deal is valued at $43 billion and will allow FIS to counter the transaction processing scale Fiserv received when it acquired First Data this year. The merger price is based on a $34 billion bid plus $9 billion of Worldpay's debt.

After forming a series of high-profile partnerships with various payments service providers, China's UnionPay International has declared its plan to challenge Visa and Mastercard’s duopoly of the U.K. card industry.

Our annual Most Influential Women in Payments feature, now in its seventh year, highlights the women who are creating change and opportunities in the payments industry. For the first time, the editors of PaymentsSource have also recognized one woman for lifetime achievement.

When Claire Gates joined the Paysafe Group two years ago, she was determined to demonstrate to payments industry leaders that bringing fresh ideas into fintech is gender agnostic.

The past six years have been a whirlwind for King, who had no experience in the payments industry before becoming CEO of Featurespace, the fast-growing U.K. startup enabling banks to use machine-learning technology to block payment card fraud.

Jenifer Swallow has been here before, feeling the excitement of being in in an industry that was about to change commerce forever.

Barclays is partnering with digital rewards companies as part of its focus on investing in fintech and developing new business models. Its recent investment in Bink, a U.K.-based loyalty platform provider, marks the fourth company in this field that Barclays has partnered with.

Laybuy, a New Zealand-based payment processing firm that allows customers to pay for purchases in installments, is launching in the U.K.

Mastercard has dropped out of a recent bidding war with Visa to acquire Earthport, announcing it will instead buy Transfast, a different cross-border payments firm.

The Bank of England is requiring Visa to appoint PwC as an independent third party to review the card brand’s progress in implementing recommendations that followed a 2018 outage in Europe.

Chinese mobile payment apps Alipay and WeChat Pay have made deep inroads into Western markets, and now UnionPay, China’s state-run card network, is catching up.

Barclays is preparing to merge its wearable mobile payments product BPay with its more popular Pingit app, after it struggled to attract users.

Revolut has caught the attention of U.K. regulators over money laundering compliance, a predicament that sheds light on issues faced by the entire digital financial services industry.

Revolut Ltd., the fast-growing financial technology startup, is facing regulatory scrutiny following an alleged compliance lapse that could have allowed illegal transactions on its app.

With Brexit on the horizon, the U.K.’s new agriculture bill is expected to drastically change the payments landscape for U.K. farmers — most notably through a new payments scheme known as the Environmental Land Management Scheme (ELMS).

Metro Bank, the lender founded by U.S. entrepreneur Vernon Hill, plunged to a record low after it disclosed that British regulators are probing how it misclassified assets, an incident that prompted a share sale.

The U.K.’s major banks are urging regulators to allow for greater flexibility in processing high-risk transactions, in a bid to tackle ever-rising levels of financial crime.

Metro Bank, the U.K. challenger bank seeking to fix a shortfall on its balance sheet, said it expects to raise about £350 ($464 million) through selling shares.