EMEA

The nine-year-old service predates the payments-oriented fintechs that have become popular in recent years.

The scandal over the collapse of Wirecard AG expanded as German financial regulator BaFin faces a criminal probe into how it oversaw the payment processor and whether some of the agency’s staff illegally traded the stock.

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.

The country's banks and fintechs are still new to working together, giving Railsbank a chance to become a key player in open banking.

Facing accusations of illegally using client accounts to move money to its U.K. headquarters from a Brazilian bank, Wise (formerly Transferwise) vehemently denied those actions and said it is the target of a smear campaign.

As the lockdown subsided and stores began to re-open, the habits of the British shopper had changed, forcing banks and merchants to adjust.

The U.K. got an earlier start on open banking implementations, prompting European merchants and fintechs to turn to payments-as-a-service providers for rapid deployment.

Small shops are facing more competition online. Combined with the impact of Brexit, this has made it even more important for businesses to sell overseas.

The Swedish installment lender's diversification makes it a direct competitor to mainstream banks.

The Swedish installment lender's diversification makes it a direct competitor to mainstream banks.