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Archive · August 12, 2026

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Story 01

Revolut Secures French Banking License, Unlocking Full-Service Expansion in Europe

Revolut has obtained a banking license in France, enabling it to offer loans and deposit products alongside payments. This move positions Revolut to compete directly with incumbent banks and neobanks on a broader suite of regulated services. French consumers gain access to a unified digital wallet and banking experience, while local fintechs face a stronger challenger. Next, watch for Revolut to accelerate product launches and customer acquisition in France and neighboring EU markets.

Source: Sifted
Also Worth Knowing
№02

RBC and BMO Sell Moneris to Francisco Partners, Reshaping Canadian Payments Landscape

Royal Bank of Canada and Bank of Montreal have agreed to sell their joint payments processor Moneris to Francisco Partners for C$2 billion. The deal hands a major Canadian payments player to a private equity owner with a track record of tech investment. Competing acquirers and fintechs may see Moneris ramp up technology upgrades and new product rollouts under Francisco Partners. This sale may prompt Canadian banks and processors to pursue further M&A or strategic partnerships to keep pace.

Source: Finextra
№03

OCC Reports 40 New Bank Applications Since Early 2025, Reflecting Fintechs’ Charter Push

The U.S. Office of the Comptroller of the Currency has received 40 new bank applications since early 2025, with many coming from fintechs and non-traditional financial firms seeking full banking charters. Firms like payments startups and digital lenders are pursuing charters to secure direct access to payment rails and deposit funding as regulatory clarity improves. This trend could intensify competition for deposits and lending, prompting regulators to update oversight frameworks for new bank models.

Source: PYMNTS
№04

Brazil Plans Pix Cross-Border Expansion, Targeting Faster and Cheaper International Payments

Brazil’s central bank is preparing to expand the Pix instant payments system to integrate with international payment networks, aiming to streamline cross-border transactions. By enabling real-time, low-cost transfers, Pix could reduce the market share of traditional remittance providers and global card networks, especially for high-volume corridors. Brazilian fintechs and merchants may gain easier access to international customers, while global PSPs face pressure to lower fees and improve speed.

Source: Finextra
№05

Jennifer Bailey’s Retirement Opens Leadership Gap at Apple Pay Amid Intensifying Wallet Competition

Jennifer Bailey, the executive who led Apple Pay since its 2014 launch, will retire, ending a 12-year tenure that saw Apple Pay become a dominant digital wallet. Her departure comes as Apple faces renewed competition from Google Pay, PayPal, and emerging wallet providers. Apple’s next payments leader will need to defend share and drive innovation as wallet adoption deepens and merchant preferences shift. Competitors may use this transition window to push for merchant integrations and consumer mindshare.

Source: PYMNTS
The Long Memory
“In 2005, the U.S. experienced the largest class action settlement in history when a $335 million payout was issued to consumers affected by fraudulent fees from credit card processors, highlighting the industry's challenges with transparency and trust.

Filed under: Payments History · The Long Memory

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