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Archive · September 6, 2026

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Story 01

Revolut Secures Conditional OCC Charter, Raising Stakes for US Digital Banking

Revolut has received conditional approval for a U.S. banking charter from the OCC, positioning it to offer full-service banking in the American market. This move puts direct pressure on both incumbent banks and fintechs, as Revolut can now compete on deposits, lending, and regulatory trust. U.S. fintechs seeking similar charters will face heightened scrutiny and rising compliance costs. Watch for Revolut to accelerate product launches and for rivals to pursue their own charters or deepen partnerships with licensed banks.

Source: Banking Dive
Also Worth Knowing
№02

Ant International Gains Brazil Payment Licence, Targeting Mercado Pago and Nubank

Ant International has secured a Payment Institution licence from Brazil’s central bank, unlocking the ability to expand Alipay and digital wallet services in Latin America’s largest market. Local leaders like Mercado Pago and Nubank now face a global competitor with deep pockets and proven wallet adoption playbooks. Expect a surge in digital payment infrastructure investment and new incentives for merchants and consumers as Ant ramps up. Incumbents may respond by doubling down on loyalty and local partnerships.

Source: Finextra
№03

PicPay Integrates Anthropic Claude AI for Natural-Language Banking in Brazil

Brazilian digital bank PicPay has launched Anthropic’s Claude AI, enabling customers to access account information and support via natural-language chat. This sets a new bar for AI-powered customer service in Latin American banking, challenging rivals to match conversational interfaces. As AI adoption accelerates, expect regulatory attention on transparency and data use. Competitors will likely fast-track their own AI integrations to avoid losing digital engagement.

Source: PYMNTS
№04

Revolut Launches In-House AI Research Unit to Build Proprietary Models

Revolut has established an AI research division to develop proprietary models for product personalization and operational efficiency. By investing in in-house AI, Revolut aims to differentiate on speed and quality of digital services, raising the bar for fintech competitors. This move could accelerate industry-wide AI innovation and prompt regulators to revisit standards for AI deployment in financial services. Watch for new AI-driven features to roll out across Revolut’s super-app ecosystem.

Source: Sifted
№05

Visa and Mastercard Face New EU Antitrust Probe Over Digital Wallet Fees

The European Commission has opened a formal investigation into Visa and Mastercard’s digital wallet fees, examining whether their practices restrict competition or inflate costs for merchants and consumers. The probe focuses on wallet transaction fees and potential barriers to entry for alternative payment providers. Depending on the findings, Visa and Mastercard may need to adjust fee structures or open access to rivals, potentially reshaping the digital wallet landscape in Europe.

Source: Reuters
The Long Memory
“Brazil’s Pix instant payment system processed over 41 billion transactions in 2023, outpacing credit and debit card volumes and reshaping digital payments in Latin America.

Filed under: Payments History · The Long Memory

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