Revolut, Allica, Zopa: Analysts back ‘enduring value’ of UK fintech Fintech UK fintech received a wealth of praise from Peel Hunt analysts in a fresh sector note following a year of rapid growth for the industry. Fintech firms booked record profits in 2024 and have transitioned from disrupting the banking climate to direct competition with traditional lenders. Revolut topped 52.5 million customers in 2024, surpassing Europe’s [...]
Magnificent Seven magic is ‘dead’, says top tech investor Investing For years, investors have relied on the Magnificent Seven to provide massive returns. Now, one of its biggest beneficiaries has said that strategy is “mostly dead”. The small group of giant tech stocks has seen a tripling of its total weight in the S&P 500 over the last decade, and now makes up around a [...]
The FCA must continue work on cutting card fees Opinion The Payment Systems Regulator was doing vital work on reducing unfair card fees that are hammering retail. Now the FCA must pick up where it left off, says Tom Ironside In their recently published report into scheme and processing card fees, the Payment Systems Regulator (PSR) recently found that “increasing fees impacts on UK businesses’ [...]
Mastercard: Funder sues own class rep for £200m settlement in £10bn case January 24, 2025 In shocking turn of events, the funder in the Mastercard litigation is seeking to sue its own class rep on the class action it funded over a £200m settlement
Regulator set to limit card fees after Visa and Mastercard price hikes December 13, 2024 The UK’s payments regulator has confirmed plans to introduce price caps on card fees paid by British merchants when European consumers make online purchases, after Visa and Mastercard hiked prices post-Brexit. After proposing some restrictions a year ago, the Payment Systems Regulator (PSR) is moving ahead with a consultation to decide at what level they [...]
Payments regulator slams Visa and Mastercard for merchant fee hikes but forgoes price caps May 21, 2024 The UK payments regulator has found "little evidence" that fee hikes by Visa and Mastercard on retailers have majorly improved the quality of service, adding that the card giants do not face effective competition.
Meet Volt, the London fintech taking on Visa and Mastercard’s duopoly April 29, 2024 For six decades, the global payments industry has been dominated by Visa and Mastercard. In the UK, the two firms had 99 per cent market share of UK debit and credit card payments in 2021.
Dunelm adds Mastercard UK boss to executive team March 11, 2024 Dunelm has added Mastercard's UK and Ireland president to its executive team.
Mastercard and Visa are back in court over interchange fees February 14, 2024 The lawsuits allege that Mastercard and Visa both acted unlawfully by overcharging businesses for accepting credit and debit card payments on corporate and consumer cards.
Mastercard snaps up stake in $5.2bn fintech arm of South African telecoms giant August 14, 2023 Mastercard has snapped up a minority stake in the fintech arm of South African telecommunications giant MTN in a deal that values the division at more than $5bn, the telecoms firm announced today. MTN, Africa’s biggest mobile company which has operations across the continent, said in its half year results that the deal would be [...]