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Archive · August 21, 2026

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Story 01

Visa, _able, and Onafriq Expand Credit Access for African Bank Customers

Visa partners with credit infrastructure provider _able and African payments company Onafriq to extend credit access to millions of African bank account holders. Visa targets both consumers and small businesses, strengthening its foothold in a rapidly digitizing market. Local and international competitors must now contend with Visa’s expanded reach as financial inclusion efforts accelerate. Expect rival networks and banks to pursue similar partnerships to keep pace.

Source: Finextra
Also Worth Knowing
№02

Revolut Seeks Finnish Banking Licence to Broaden European Service Portfolio

Revolut has formally applied for a banking licence in Finland, aiming to offer a wider suite of financial services to Finnish customers as part of its European expansion. Revolut's application pressures incumbent Finnish banks to accelerate digital transformation and product innovation. If approved, Revolut will offer deposit accounts and lending, deepening its customer relationships. Other fintechs may pursue similar licences, intensifying competition in the region.

Source: Finextra
№03

CFTC Moves to Regulate Crypto Markets as Congress Delays CLARITY Act

The CFTC is preparing to establish a crypto asset market regime using its current authorities, stepping in as Congress stalls on the CLARITY Act. This approach gives compliant crypto firms a clearer regulatory path while raising the bar for those lagging on compliance. Crypto exchanges and investors now face a patchwork of evolving rules, with the CFTC’s framework likely to influence investor confidence and market stability. Firms are accelerating compliance efforts to avoid enforcement risk.

Source: PYMNTS
№04

Binance Launches AI Agent Platform for Automated Crypto Trading

Binance has introduced a developer platform enabling users to connect AI agents for automated trading on its exchange. Binance’s move prompts regulators to scrutinize AI-driven trading while challenging other exchanges to match its technical capabilities. The launch is likely to accelerate adoption of AI tools in trading, and competing platforms may need to fast-track their own AI integrations to retain advanced traders.

Source: Finextra
№05

Prosus Invests $100M in Navi to Fuel Indian Fintech Competition

Prosus invests $100 million in Indian digital financial services firm Navi, supporting its growth and expansion plans. This capital injection strengthens Navi’s position against both local and global fintech rivals in India’s crowded market. The deal is expected to spark new funding rounds and product launches as competitors respond. Navi will likely accelerate customer acquisition and expand its lending and insurance offerings.

Source: Finextra
The Long Memory
“In China, QR code payments overtook card payments by volume as early as 2019, illustrating how mobile-first solutions can leapfrog traditional payment rails.

Filed under: Payments History · The Long Memory

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