Norwegian banks have been keenly aware of — and concerned about — the prospect of mobile wallets developed in Silicon Valley affecting their own services. So much so that a group of banks has begun preparing to merge their payments systems into one platform and have it up and running by next August.
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Modulr Finance, a U.K. payments application interface provider, is providing a service level agreement for business-to-business payments that guarantees automation for high volumes of complex payments at any time.
The exploding value of the cryptocurrency since its first real-world transaction in 2010 is one reason the U.S. Internal Revenue Service is pushing to see records on thousands of users of Coinbase Inc., one of the biggest U.S. online exchanges.
TransferWise, one of the fintechs that have challenged old-school banking models for international transactions, is entering a new phase that adds geographies and different markets for its account alternative.
Revolut, the London-based financial technology startup that’s raised more than $86 million in venture capital, said it’s applying for a European banking license to broaden the portfolio of services it offers customers.