Friday September 21, 2018 –
Here are the new and noteworthy stories we have been following this week.
How US banks took over the financial world
Ten years after the financial crisis US banks are in a position of strength while European banks are in retreat.
https://www.ft.com/content/6d9ba066-9eee-11e8-85da-eeb7a9ce36e4
China UnionPay to enter European market
China UnionPay is planning to enter the European market commencing with card issuance in the UK in October.
https://www.finextra.com/newsarticle/32664/china-unionpay-to-enter-european-market
Universal SGQR code for cashless payments, interbank fund transfer system to be opened to non-banks
Singapore launches universal QR code that allows consumers to scan and transfer funds and pay merchants from 27 e-payment apps.
Stripe built a payments powerhouse by focusing on e-commerce. Now it’s following its customers into bricks and mortar.
Stripe enters the in-store payment space through its own POS terminals and a set of SDKs and APIs.
https://www.recode.net/2018/9/17/17855730/stripe-terminal-brick-and-mortar-payments-adyen-square
ABU DHABI GLOBAL MARKET ANNOUNCES LAUNCH OF DIGITAL SANDBOX TO ACCELERATE FINANCIAL SERVICES INNOVATION AND FINANCIAL INCLUSION IN THE UAE AND THE REGION
Abu Dhabi Global Market launches a digital sandbox to facilitate collaboration between FIs, fintech firms, and regulators.
The Taming of Initial Coin Offerings
Regulators and prosecutors are increasing their scrutiny of ICO deals to bring order and ensure compliance with securities laws.
https://www.nytimes.com/2018/09/18/business/dealbook/taming-initial-coin-offerings.html
Visa, Mastercard Face Next Fight After $6.2 Billion Settlement
Visa and Mastercard have agreed to a $6.2 billion settlement with a class of over 12 million merchants.
Moneycorp expands US presence
Moneycorp completed its integration of Commonwealth FX integrating it with its existing US business on a single global payments platform.
https://www.finextra.com/pressarticle/75492/moneycorp-expands-us-presence
BB&T invests $5 million in fintech company Enigma
BB&T makes its first fintech investment with plans to deploy $50 million in emerging digital technology companies.
Personal finance bot Cleo raises $10m
Cleo raised $10 million in a Series A funding round to drive product and geographic expansion.
https://www.finextra.com/newsarticle/32689/personal-finance-bot-cleo-raises-10m
Buy now, pay later — the new debt trap for millennials?
Non-bank startups are targeting millennials with convenient and easy POS installment loans.
https://amp.ft.com/content/8c751ac6-bb63-11e8-94b2-17176fbf93f5
