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.
Three of Australia’s largest banks—Wespac, Commonwealth Bank of Australia and the National Australia Bank—have joined forces for a mobile wallet joint venture called Beem, with person-to-person payments as the first use case.
Many companies in financial services say they want to be the next Uber. But the reverse may also be true, with the ride-sharing company adding a cobrand card that can be managed from within the Uber app.