EMEA

The coronavirus pandemic has forced foreign exchange money agent Travelex to close all of its U.K. offices for the next eight weeks.

A former market president for State Bank Financial would serve as CEO of the proposed Classic City Bank.

While the global coronavirus outbreak may be grounding corporate travel to a near standstill, leading travel companies and fintechs are continuing to hone AI-based payments platforms to reduce the problem of corporate travel fraud.

The nationwide lockdown in Italy has necessitated changes for Pellegrino personally, and for his business. The two worlds often intersect.

Following the lead of open banking regulation in Europe, payments technology provider Elavon is working with Nuapay in the U.K. to provide account-to-account payment setups for its merchant clients.

Mastercard's U.K. Pay by Bank service has been slow to get off the ground since its 2016 launch. But Mastercard predicts Pay by Bank will see significant adoption in 2020 due to the partnerships it has established with banks and processors, and the popularity of mobile banking among Britons.

The U.K. is the latest market where eBay will assume direct control of its payments experience, as part of its prolonged breakup with PayPal.

Small World Financial Services is addressing a gap in its cross-border network by making a deal to buy French money transfer agent MoneyGlobe.

The U.K.’s Co-operative Group is creating a new model for online grocery shopping by using its network of convenience stores as local distribution centers.

Mastercard will expand its European Technology Hub in Dublin over the next three to five years, as the card network plans to create more than 1,500 tech jobs at the site.