A group of Irish banks have plans to set up an instantaneous money-transfer mobile app after selecting Italy-based fintech Sia to provide the technology, according to irishtimes.com.
The impacts of Brexit and the collapse of Wirecard caused many headaches for fintech services in recent months. An Post recently switched issuer for its An Post Money Currency Card, several months after the Wirecard debacle disrupted its services and as Brexit loomed.
Revolut Singapore predicts a 70% uptick in local and cross-border electronic cash-gifting as people find themselves unable to visit relatives and friends like they used to during the Chinese New Year period. Revolut customers here will be able to send e-hongbaos using specially designed wrappers provided in-app in the Gifting feature.
The group of Irish banks seeking to set up an instantaneous money-transfer mobile app to take on the likes of Revolut and N26 have selected Italian fintech giant Sia to provide the technology, according to sources.
A group of Irish banks is seeking to set up an instantaneous money-transfer mobile app to take on the likes of Revolut and N26. Synch Payments, a joint venture between AIB, Bank of Ireland, Permanent TSB and KBC, is awaiting approval from the Competition and Consumer Protection Commission.
Competition authorities have been alerted to the banks' plans for a payments app to rival the fintech players. Four of Ireland's pillar banks are teaming up on a new digital payment system to take on fintech challengers such as Revolut and N26.
Digital bank Revolut has announced a new service: Confirmation of Payee - available to over 3 million UK customers. The feature is part of Pay.UK's anti-fraud initiative, according to a release. The feature has been enabled by its payments partner Modulr, one of the few non-banks to have direct access to the Bank of England payments infrastructure.
Revolut has offered its users advice on how to prevent scams, as people losing money to scammers on the app "is on the increase". The popular online banking app has shared information about how to protect yourself from account takeover scams and authorised payment fraud.
AIB, Bank of Ireland, Permanent TSB and KBC are building an app-based instant payment system. It is believed the new system will be open to all banks and financial institutions - including An Post and Credit Unions. Revolut says it has more than one million customers in Ireland.
Revolut has recently announced the launch of Confirmation of Payee, powered by Modulr, for its UK retail customers.
RELATED STORIES Millionaires in bitcoins, they can't get their money back because they forgot their access codes January 13, 2021 "Bitcoin, the world currency": the giant Bakkt wants to go public and will be worth billions January 13, 2021 Revolut users can still buy and sell XRP through their bank account.
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British challenger bank has submitted a banking license application to the U.K. Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA). Nik Storonsky, founder and CEO at Revolut, said in a press release on Monday (Jan. 11) that having a U.K. license for financial services will enable it to offer banking products "U.K.
Savings and Investment Revolut has cautioned its users against trading turbulent cryptocurrency XRP in light of the lawsuit against its parent company Ripple. Image source: Thought Catalog/Unsplash Digital banking service Revolut has issued a warning to its customers about Ripple's cryptocurrency XRP after several exchanges began delisting the electronic currency.
Digital bank Revolut said it has applied for a full banking licence in the UK, submitting its application to the Financial Conduct Authority and the Prudential Regulation Authority this month. The transition to a full licence from its existing e-money permissions will allow Revolut to lend: offering overdrafts, loans and deposit accounts, thus building up a strong source of revenue.
Irish consumers returned to shops in strong numbers for a spending spree in December as soon as the State's second Level 5 lockdown was lifted, according to data released by the digital payments platform, Revolut.
FOUR banks have come together to develop a new payment system that they hope will rival Revolut. he move by AIB, Bank of Ireland, Permanent TSB and KBC Bank represents the first joint venture between the main banks here in more than 20 years.
New figures from Revolut shows that total consumer spending in December 2020 rose by 6% from December 2019, with many sectors seeing record levels of expenditure. Digital banking app Revolut said its research showed that consumers returned to the shops in force for a Christmas shopping spree, with the December reopening of non-essential retailers seeing people flocking back to stores.
Brought to you by Revolut Considering they're like extensions of our bodies at this stage, it seems like the smartphones we use on a regular (and probably far too frequent) basis have been around forever.
Just over a third of spending in December was carried out online, with two-thirds of overall spending taking place in person, according to new data from Revolut. The online bank, which has over 1.2 million Irish users, said the re-opening of non-essential retail in December saw customers flocking back to brick and mortar stores for Christmas shopping sprees.