Morning Brief 2.11.20: Revolut launches open banking in the U.K.

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The information you need to start your day, from PaymentsSource and around the web:

Opening up

Revolut has launched its open banking offering in the U.K. for retail and business clients, hoping to support a single view of all balances and transactions on one app.

The fintech is using TrueLayer's API to aggregate and update information from different sources, such as banks or other fintechs. The app will also support budget controls.

Revolut has been adding financial services to its core digital payments app for several years, and is in the midst of raising funds that could take its valuation to as much as $8 billion.

Around the bend

Curve has added more mobile wallet support to its "all-in-one" card and has opened its first office in the U.S. as part of its international expansion.

The new Curve office will be in Brooklyn, and follows other challenger banks that have opened offices in the U.S. recently, such as Monzo and N26. Curve expects to launch in the U.S. by the end of 2020.

The fintech says it will create 185 jobs in the next four years and invest $17 million over the next decade in new card and payments technology.

Partnering up

Wirecard and SAP are expanding an existing collaboration. Wirecard's technology will combine with specific SAP divisions to build joint products for different elements of mobile commerce.

Part of the collaboration will focus on ways to use the cloud to integrate new payment types as part of a larger bundle of merchant services.

Wirecard's recent projects include deploying checkout-free retail at Munich's main international airport and investing in Chinese payment technology.

Wrong stop

Sydney transit riders overpaid more than $250,000 over the past three months due to a glitch in the contactless payment system.

The transit authority has refunded the money, and says the problems were "minor," reports The Sydney Morning Herald, adding the issue has been repaired.

It was also a relatively small financial shortfall, or about 0.6% of the $46 million in contactless transit payments in Sydney over the past three months.

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