Fintech Featured When Single Market principles don’t work: Revolut’s case Revolut is rolling out local IBANs and expanding its presence across Western Europe. One of the factors behind this move is to bypass “IBAN discrimination”, where public and private institutions reject foreign account numbers, highlighting gaps in the EU’s Single Market for the financial sector.
Fintech Featured The war against fintechs in Hungary continues A new front has opened up in Hungary between fintech companies and the traditional banking sector. In June, the Government voted to introduce the transaction tax on fintech players, such as Revolut, Wise, and BINX.
Fintech Featured Revolut under pressure in Hungary: demands for ATM access in remote areas, fintech called 'a free-rider' Hungary's government is forcing banks to fund ATMs in remote areas, calling it equal access to cash. Revolut, with no physical branches, is labeled a "free rider" for not contributing. Critics say this distorts competition and serves political interests over consumers.
Fintech Featured The EU’s revised Consumer Credit Directive leaves European consumers with fewer choices and more financial struggles You have seen the option if you have ever shopped online. Instead of paying in full for a product, you can have the item delivered immediately with a smaller up-front payment and cover the rest of the bill in several interest-free installments. The term for the practice is buy now,
Featured Europe’s Fintech Success Story: What is a Cheque? Europeans exhibit a greater inclination toward adopting online banking and payments, a trend not solely attributed to consumer behavior but also to astute regulation.
