City watchdog probes Mastercard, Visa, Paypal for alleged anti-competitive conduct Regulation The City watchdog has confirmed it is investigating a trio of payments giants over alleged anti-competitive conduct. The Financial Conduct Authority (FCA) will probe Mastercard, Paypal and Visa under the Competition Act 1998 regarding its suspected conduct related to the “funding and usage” of Paypal’s digital wallet. Paypal’s digital wallet is an app-based system that [...]
UK fintech Wise to downgrade London listing this quarter Fintech Money transfer firm Wise has confirmed the timeline for switching its primary listing to the US with the move expected to take place this quarter. The UK fintech said during a fourth-quarter update that its results for the latest financial year will published in the US dollar, which it said was “reflecting the expected completion” [...]
UK payments system is deceptively complex Opinion Beneath every tap of your card is a complex web of payment systems you don't even notice – and we mustn't fall behind, writes Keith Douglas.
Grounds for expansion: Airwallex’s Europe chief bets on London in licence pursuit March 6, 2026 As payments giant Airwallex laid out plans to double down on Europe, they turned to a man with experience at a multi-billion dollar deposit holder. The $8bn cross-border specialist was looking for someone to steer the ship amid expansion plans across Europe but in that endeavour didn’t poach a veteran of Wall Street or the [...]
US giants dominate AI payments race amid Wall Street jitters February 25, 2026 US giants continue to lead the charge in the payments industry’s AI acceleration even as the sector gets swept up in Wall Street’s tech jitters. Visa led a three-horse race followed by Mastercard, then Paypal in the Evident AI’s inaugural index for the payments sector. The three towered above their peers, thanks largely to consistently [...]
Revolut: Inside Nik Storonsky’s $75bn fintech empire still waiting for its crown February 24, 2026 In Revolut’s shiny new Canary Wharf headquarters, the command ‘Get Sh*t Done’ is bolted onto the walls. The unconventional office mantra is a stark reminder of co-founder Nik Storonsky’s acerbic, straight-talking manner that has kept the gas pumping at the UK’s most valuable fintech since it opened for business in 2015. “Whenever a target is set, [...]
Bank of Ireland’s UK arm hit with £3.8m fine for fraud failures February 19, 2026 The Bank of Ireland’s UK arm has been slapped with a hefty fine after failing to hit the deadline by over a year to implement an anti-fraud service. The lender was hit with a £3.7m fine from the Payments Systems Regulator (PSR) for missing the deadline by 14 months for a “vital” service that would [...]
Payments watchdog won’t be abolished ‘any earlier than 2027’ February 4, 2026 The boss of the payments watchdog has said he doesn’t expect the regulator to be officially abolished any earlier than the first quarter of 2027 as criticism grows over the slow progress of reforms in the sector. David Geale, managing director at the Payment Systems Regulator (PSR), said he had “not seen the outcome” of [...]
CAB Payments rejects ‘highly opportunistic’ Helios takeover bid February 2, 2026 London fintech CAB Payments has pushed back against another takeover proposal from African-focused private investment giant Helios. The firm – which was behind the “worst IPO of the year” in 2023 – has said the increased takeover proposal from a consortium led by Helios Investment Partners was “highly opportunistic” and undervalued the company’s future. Helios [...]
Bank of England’s Breeden warns on rivals overtaking UK on innovation February 2, 2026 The Bank of England’s lead for fintech policy and digital currency has laid out a sweeping vision for the UK’s next generation of payments infrastructure amid a rallying cry for the UK to not lag behind its peers. Sarah Breeden, a rate-setter at the central bank and the deputy governor for financial stability, said the [...]