UK fintech Monovate posts £8.3m loss as Visa and Mastercard partner dumps European arm Fintech A key fintech partner of Mastercard and Visa suffered a hit to its bottom line as the business restructured its European operations and counted the costs of a major accounting error. Monovate – which acts as a licensed middle man bridging businesses and payment giants – made a loss of £8.3m in 2025, which was [...]
‘Centre of gravity is shifting’: UK fintech hiring to switch focus from neobanks Fintech UK fintech is forecast for another hiring surge as the sector matures past the high-growth era of neobanks and focus turns to the rise of software and payments focused firms. Figures from City recruiter Morgan McKinley forecast fintech hiring to rise 14 per cent in 2026, which follows on from a whopping 28 per cent [...]
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 April 13, 2026 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 March 25, 2026 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 [...]