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Archive · June 8, 2026

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Story 01

Adyen Displaces Stripe as Gov.UK Pay Processor, Gaining Public Sector Foothold

The UK government has selected Adyen to replace Stripe as the payment processor for the Gov.UK Pay platform, marking a significant shift in public sector payments. Adyen strengthens its UK presence and gains credibility for future government and enterprise contracts, while Stripe loses a high-profile client. Competing payment processors now face a more formidable Adyen as it leverages this win to pursue additional government and enterprise deals.

Source: Finextra
Also Worth Knowing
№02

Mastercard and Backbase Integrate for Near Real-Time Cross-Border Payments

Mastercard and Backbase have partnered to embed Mastercard's Move service into Backbase's banking OS, enabling near real-time cross-border payments for banks. This integration challenges SWIFT and Visa in the cross-border segment by offering banks faster, more transparent international payments. Banks using Backbase can now deliver improved cross-border experiences, prompting rivals to accelerate upgrades to legacy payment rails.

Source: PYMNTS
№03

Revolut Launches 5% AER Instant Access Savings, Forcing UK Banks to Respond

Revolut has introduced a 5% AER instant access savings account, the highest rate in the UK market until December 2026. This aggressive move is expected to draw substantial deposits from both fintech and incumbent bank customers, intensifying competition for retail savings. Traditional banks and digital challengers must now consider raising rates or enhancing product features to retain depositors.

Source: Finextra
№04

Egypt’s Blnk Raises $37M to Expand POS Financing Amid BNPL Competition

Egyptian fintech Blnk secured $37 million to scale its POS financing platform, targeting both merchants and consumers. The funding enables Blnk to compete more aggressively in Egypt’s fast-growing BNPL and POS lending market, where local and regional players are vying for share. Incumbent banks and fintechs in North Africa now face a better-capitalized rival with expansion ambitions.

Source: Finextra
№05

Clear Junction Opens Institutional Access to Pound Sterling Stablecoin GBPA

Clear Junction has partnered with Agant to provide institutional clients with access to GBPA, a Pound sterling stablecoin, expanding cryptoasset business services. This move strengthens Clear Junction’s position in the stablecoin settlement market and offers banks and fintechs new options for GBP-denominated digital asset flows. Banks and fintechs seeking regulated, fiat-linked digital assets now have expanded choices for GBP settlements, increasing competition among stablecoin providers and FX platforms.

Source: Finextra
The Long Memory
“In the previous year, 2023, Brazil's instant payment system Pix processed over 5 billion transactions, making it one of the country's most widely used payment methods within two years of launch.

Filed under: Payments History · The Long Memory

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