Visa could be forced to pay a sum in the billions to buy the Visa Europe payments system, according to The Wall Street Journal. The news comes under a plan being discussed by the European banks that own the business.
“Bringing Visa Europe in-house could help the company directly tap fast-growing markets like Turkey and Poland and bolster its competitive edge against other players, including rival MasterCard, which runs a smaller payments network but owns its European operations.” The WSJ wrote.
Financial groups that own the European business are reportedly planning the set-up of their own payments business. It would compete against Visa and MasterCard in processing debit –and credit – card transactions.
Barclays has signed contracts with six of the fintech startups that just graduated from its second New York accelerator programme.
Company card killer Pleo has raised $3m in new funding as it prepares for public launch in the UK and Denmark.
Cheques are become less and less common in the UK according to new research from global market research firm Mintel which claims contactless card use has overtaken cheque payments in the UK for the first time.
Payments for digital and physical goods made mobile operating system-based payments platforms like Apple Pay and Android Pay are expected to boom in the next few years according to new analysis from Juniper.