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Archive · September 28, 2026

September 28, 2026.
Five payments stories that matter.

The 5-minute briefing for payments professionals who need to know what happened, what it means, and what to do about it — before their 9am.

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The Lead

Story 01

Revolut Secures Approval to Acquire Banco Cetelem, Entering Latin American Banking

Revolut has received regulatory approval to acquire Banco Cetelem, marking its first direct entry into the Latin American banking sector. Revolut now directly challenges local fintechs like Nubank and Mercado Pago, as well as incumbent banks in Argentina, by leveraging its global scale and diverse product suite. Expect intensified competition for customers and heightened regulatory attention as Revolut accelerates its regional expansion.

Source: Finextra
Also Worth Knowing
№02

Atum Launches Open Payments Network With $13.5M, Targeting Decentralized Infrastructure

Atum, founded by former Visa crypto lead Pete Cooling, has launched from stealth with $13.5 million to build an open payments network. By offering lower transaction fees and programmable payment flows, Atum gives fintechs and merchants an alternative to Visa and Mastercard, potentially reducing costs and increasing flexibility for digital-first PSPs. Incumbent card networks now face a direct challenge from a new decentralized infrastructure designed to bypass traditional rails.

Source: Finextra
№03

Fintech Avant Seeks OCC Charter to Expand Credit Offerings Nationwide

Chicago-based Avant has applied for a national bank charter from the OCC, aiming to broaden its credit product suite and compete directly with traditional banks. If the OCC grants approval, Avant will originate loans nationwide without relying on partner banks, lowering compliance costs and accelerating product launches. This move puts pressure on fintechs still dependent on state licenses or BaaS partnerships and signals regulators’ evolving stance on fintechs seeking full banking powers.

Source: Banking Dive
№04

Singapore Launches AI Workforce Program for 80,000 Financial Services Employees

Singapore’s financial sector has launched an AI workforce co-lab to train 80,000 employees in AI skills, with banks, payments firms, and insurers integrating machine learning into their operations. This large-scale upskilling drive aims to accelerate AI-powered product launches and boost operational efficiency, drawing global fintech talent to Singapore. Regional competitors must now invest in similar training or risk lagging behind in AI-enabled services.

Source: Finextra
№05

Moov Launches P2P Payments Tool Using Card Network Rails, Challenging App-Based Platforms

Moov has introduced a peer-to-peer payments tool leveraging Mastercard and Visa’s digital infrastructure, allowing users to send money without both parties needing the same app. This model bypasses the closed-network limitations of Venmo and Zelle, making it easier for consumers and merchants to transact across platforms. Venmo and Zelle risk losing users as Moov’s approach reduces switching barriers, while card networks benefit from increased transaction volumes.

Source: Banking Dive
The Long Memory
“In 2023, Brazil’s Pix instant payments system processed more daily transactions than credit and debit cards combined, illustrating how fast new rails can overtake legacy methods.

Filed under: Payments History · The Long Memory

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