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Archive · September 13, 2026

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Story 01

Revolut Data Breach Exposes KYC and Bitcoin Transactions, Raising Competitive Risks

Revolut disclosed that a fake request from a government domain led to exposure of customer KYC and Bitcoin transaction data. High-net-worth clients are particularly affected, and the breach could prompt some customers to migrate to competitors like Monzo and N26, which have emphasized robust security practices. Regulatory scrutiny of Revolut’s data handling is likely to intensify, and rivals may target security-conscious users in their marketing.

Source: The Block
Also Worth Knowing
№02

AI Startup Cohere Eyes $20 Billion Valuation With Major Funding Round

Cohere is in advanced talks to raise $2–3 billion at a $20 billion valuation, signaling investor confidence in AI’s expanding role in financial services. The new capital could accelerate Cohere’s development of large language models for banks and fintechs, intensifying competition with OpenAI and Anthropic for enterprise AI contracts.

Source: PYMNTS
№03

Unlimit Secures Hong Kong License to Expand Asia-Pacific Payments Reach

Unlimit obtained a money service operator license from Hong Kong’s Commissioner of Customs and Excise, deepening its Asia-Pacific footprint. This regulatory approval enables Unlimit to serve cross-border merchants and fintechs seeking access to Hong Kong’s financial hub, and positions it to compete with established players like Airwallex and Payoneer.

Source: Finextra
№04

Visa Trust Index: 72% of US Consumers Now Use AI Assistants in Payments

Visa’s Trust Index reports that 72% of US consumers have used an AI assistant during payment journeys, highlighting rapid adoption of conversational AI for transactions and support. Banks and wallet providers are integrating AI-powered features to personalize user experiences and automate fraud detection, driving a new wave of digital engagement.

Source: Finextra
№05

MoonPay Acquires Rhythm to Bolster On-Chain Trading Signal Capabilities

MoonPay acquired Rhythm, an on-chain trading signals platform, to enhance its crypto trading services. The acquisition allows MoonPay to offer advanced analytics and trading tools to crypto traders, intensifying competition with Coinbase and Binance for active market participants.

Source: PYMNTS
The Long Memory
“The FedNow pilot program began in 2019, with the U.S. Federal Reserve launching nationwide instant payments in 2023 after several years of development and testing.

Filed under: Payments History · The Long Memory

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