Europe strives for payments sovereignty as US players tighten grip
The European card payments market, processing trillions of euros each year, remains dominated by two American giants: Visa and Mastercard. Despite the sector’s importance to modern commerce, competition has struggled to flourish, leaving Europe without payments sovereignty and heavily reliant on US-based financial infrastructure. With Visa and Mastercard jointly handling over €7 trillion in European […]
Swiss love of cash fades as debit cards take over
In a historic shift for one of Europe’s most cash-affectionate economies, debit cards have overtaken cash as Switzerland’s most used in-store payment method, marking a symbolic turning point in the country’s monetary habits. According to the Swiss National Bank’s (SNB) latest consumer payments survey, 35% of in-store transactions in 2023 were conducted via debit cards, […]
UK card payments top £1 trillion in 2024
Card payments in the UK surpassed £1 trillion in 2024, according to new figures from UK Finance, underscoring a continued shift towards cashless transactions and the ubiquity of contactless technology. While total card spending remained steady compared to 2023, the data reveals a notable rise in transaction volumes, a growing preference for credit cards, and […]
Digital ID 2025: Regulatory imperatives, technological advancements
Digital ID verification has emerged as a cornerstone of modern cybersecurity, regulatory compliance and consumer protection. Amidst escalating concerns over fraud prevention, privacy and age verification, 2025 is positioned to be a pivotal year in the standardisation and global harmonisation of digital identity frameworks. One of the most prominent regulatory challenges facing digital ID frameworks […]
Euro Area payment dynamics 2024: Cards continue to dominate
The European Central Bank (ECB) has published its latest report on non-cash payments for H1 2024, offering an incisive examination of evolving payment behaviours within the euro area. The findings underscore a continued trajectory towards digitalisation, marked by increased reliance on card payments, the proliferation of contactless transactions and a decline in cash-dependent financial activities. […]
The rise of neobanks and changing banking trends in the UK
The UK banking sector is undergoing a transformation as neobanks and fintechs continue their rapid ascent, reshaping consumer behaviour, loyalty and financial decision-making. According to the latest research from RFI Global, digital banks like Monzo, Starling and Revolut have expanded their market share from 16% in 2018 to 50% in 2024, a remarkable shift that […]
EU set to drop FiDA Open Finance regulation
In a significant policy reversal, the European Commission has decided to withdraw its proposed Financial Data Access (FiDA) framework, a move that has elicited varied reactions across the financial sector. Initially introduced in June 2023, FiDA aimed to establish a comprehensive framework for secure and open access to customer data across a wide range of […]
Worldline and DNB Bank partner on real-time payments in Norway
Worldline has announced a strategic partnership with DNB Bank ASA, Norway’s largest financial institution, to enhance real-time payment infrastructure using Swift Instant Connectivity to TIPS (TARGET Instant Payment Settlement). This collaboration aims to strengthen DNB’s ability to process seamless, secure, and real-time payments for its customers, aligning with the EU Instant Payments regulation and the […]
Apple Pay or Google Pay? Which service rules Europe
As digital wallets continue to reshape the payments industry, two tech giants – Apple and Google – are at the forefront of the transformation despite the continued efforts of the EPI initiative and its Wero wallet. Apple Pay and Google Pay offer convenient and secure payment options that are rapidly gaining traction across Europe, one of the most mature […]
European fintech rebounds with investment surge in 2024
Good news! Europe’s fintech sector experienced a notable resurgence in 2024, with investments rising by 10% to reach $8.7 billion, up from $7.9 billion in 2023, according to Dealroom.co. This uptick signals a renewed confidence in the fintech ecosystem, driven by early-stage funding and record levels of venture capital ready to back innovative start-ups. Mega-rounds […]