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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.
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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.
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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.
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“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?”
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Lebanese commercial bank Al-Mawarid is adding Misys’ mobile and online banking solutions to its digital offerings.
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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.
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