Tech companies are showing concern over regulations requiring firms selling computer equipment to Chinese banks to reveal secret source code and build back doors into their products.
Internet-based payment platforms still rely too heavily on card payments that limit their reach to Western Europe and North America, according to Patrick Collison, CEO of Stripe.
Aditya Birla Nuvo, a majority investor in India’s third-biggest cellular carrier Idea Cellular, and retailer Future Group, have applied for licences to run payment banks in India.
“2014 was arguably the most eventful year in Visa Europe’s history,” says CEO Nicholas Huss. “Has there ever been a more interesting time to work in the world of payments?”
Lebanese commercial bank Al-Mawarid is adding Misys’ mobile and online banking solutions to its digital offerings.
Offering free bank accounts is an unsustainable practice that increases the likelihood that British banks will try and squeeze profits from customers elsewhere, PwC have argued.