Sydney is to get a new startup hub, creating up to 6,500 new jobs, thanks to a $35 million investment from the NSW Government.
Visa is stepping up its war on cash, promising up to $500,000 to 50 US restaurants and food vendors that stop accepting paper money altogether.
The UK payments industry is facing further upheaval as the Competition and Markets Authority approves consolidation of the operators of Bacs, the Cheque and Credit Clearing Company and Faster Payments Scheme into a New Payments Systems Operator.
Money transfer outfit Revolut has scored a bumper $66 million investment round and announced plans for a £4 million crowdfunding campaign as it looks beyond Europe's borders to Asia and the US and builds on its progression into a fully-fledged banking-as-a-service platform.
Santander InnoVentures, the venture capital fund of Santander Group, is moving ever deeper into the fintech ecosystem with strategic investments in the UK startups Pixoneye and Curve and US based Gridspace.
For the first time, debit cards have overtaken cash to become the number one payment method in the UK, according to data collected by the British Retail Consortium (BRC).
US firm Avanti Markets says that nearly 2000 of its self-service payment kiosks have been infected with malware, putting customers' card data at risk.
World Bank Group member IFC is looking to boost financial inclusion and literacy in Southeast Asia through a $15 million investment into local online marketplace CompareAsiaGroup.
US banks are opening themselves up to increased strategic risk by moving into new products and services as a way to take on emerging fintech rivals, warns the Office of the Comptroller of the Currency (OCC) in a report which also highlights the threat of cyber attacks and an increased reliance on third-party tech service providers.
European consumer interest group BEUC has waded into the screen-scraping debate, urging banking authorities to ban the practice in favour of the creation of a harmonised interface for customer data sharing.
© Finextra Research 2017