Payment

Ripple tries to diversify as it faces headwinds from the banks

spike 1 hour ago

Ripple has created one of the most valuable cryptocurrencies. Its digital tokens, known as XRP, have a total value of almost $30 billion, behind only bitcoin and Ether.

Ripple tries to diversify as it faces headwinds from the banks

But, eight years after launch, Ripple is still trying to find compelling uses for the blockchain technology underpinning its currency that would justify such a high figure.

Now, in an effort to draw more users, it has struck out in a new direction: to try to become the Amazon of the cryptocurrency world, using its platform to support activities far beyond

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Revolut losses continue to grow

spike 4 hours ago

Revolut losses tripled in 2019 as the FinTech blamed rising staff costs more than offset revenue growth, however it argues that it is on track to break even this year despite the impact of COVID-19.

Revolut losses continue to grow

Revolut reported a pre-tax loss of £107 million, more than triple the £33 million loss in 2018, driven largely by a massive hiring spree. Staff numbers increased from 633 to 2,261 over the year, including hundreds of appointments to strengthen its customer service and compliance functions.

Despite the deepening losses, Revolut stuck to a previously announced aim of being profitable

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PCM Feature: Neobanks – hot trend or missed opportunity

spike 2 days ago

Digital-only banks, or neobanks, have been a major focus for investors, and are gathering new customers by the boatload. But are they really banking’s future – or just a sophisticated fad for tech-savvy millennials?

Go to any advertising billboard or bus-shelter in the UK urban centres and you’ll see it: wave after wave of advertisements for neobanks, from Revolut to Monzo, Starling, OakNorth and, until recently, Germany’s N26. A similar consumer blitz is underway in the US and major European markets.

Data from these new digital-only players suggests consumers are liking their pitch: Monzo recently announced it had acquired 3.8

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now’s the time to seek advice

spike 2 days ago

COVID has accelerated changes in payments such that we’re already in a different landscape – and companies urgently need to make sure they’re ready.

COVID has changed payments for good

Amidst the tragedies and challenges we’ve lived through in the last six months, says Kriya Patel, CEO of Transact Payments Limited, one emerging theme is how COVID has accelerated existing trends – like working from home – and changed our lives in the process.

Payments is no different: there has been rapid and comprehensive change in our business – and plenty of opportunities to embrace. But the pace of

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