PaymentsJournal
SUBSCRIBE
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
No Result
View All Result

Mobile Banking Lifts Bank of America

Edward O'Brien by Edward O'Brien
April 23, 2014
in Analysts Coverage
0
0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

As heated discussions continue to surround the potential sale of sale of Visa Europe to Visa Inc., a distinct split between financial institutions in the United Kingdom and their counterparts in mainland Europe is emerging.

According to information given to Mark Kleinman at Sky News, UK banks (most notably Barclays) are trying to exercise an option that would force the sale of Visa Europe, whereas French and other European banks are trying to prevent such a move.

The recent push by UK banks to sell Visa Europe is based on new discussions with the Financial Policy Committee (FPC), which could result in British banks needing to raise £25 billion (US$38.1 billion) by the end of the year to raise their minimum cash reserves. As a result of the regulation, British banks are looking for ways to quickly boost their reserves and view the sale of Visa Europe as an efficient means of raising up to £7 billion pounds ($10.7 billion).

While the percentage of the proceeds of the sale of Visa Europe would be determined by the volume of business they conduct through the payment network, it is understood that in addition to Barclays, Lloyds, and to a lesser extent, the Royal Bank of Scotland and HSBC all hold a significant stake in Visa Europe. However, across the English Channel, European banks are trying to stop the sale in order to maintain their influence in the network’s operations. A third scenario, however, may be present. The Wall Street Journal reported last month some Visa Europe members are considering plans to create a payments system that would compete against Visa and MasterCard.

If the sale of Visa Europe to Visa proceeds, it will undoubtedly shake up the European market as banks on both sides of the English Channel lose influence in the network’s capabilities and operations. While the establishment of a new payment network may just be talk, (given the fact it would face an uphill struggle against Visa and MasterCard) it too could change the dynamics of the status quo.

Click here to read more from Sky News.

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

    Analyst Coverage, Payments Data, and News Delivered Daily

    Sign up for the PaymentsJournal Newsletter to get exclusive insight and data from Mercator Advisory Group analysts and industry professionals.

    Must Reads

    faster payments

    Faster Payments Are Set to Revolutionize Modern Digital Payments

    January 26, 2023
    How AI can Help Manage Payments Risk in 2023

    How AI can Help Manage Payments Risk in 2023

    January 25, 2023
    cross-border payments

    How to Implement Effective and Innovative Cross-Border Payment Strategies

    January 24, 2023
    credit card experiences, digital payments, b2b payments

    Will Consumer-to-Business Payment Trends Drive B2B Global Growth in 2023?

    January 23, 2023
    Faster Payments Faster Identity Verification, connected car, payments

    2023 Predictions: Authentication, Digital Identity, and In-Car Payments

    January 20, 2023
    bank data

    Interconnectivity, Data Sharing, and Security Are Vital for Banks to Thrive

    January 19, 2023
    B2B Payments, cryptocurrency

    Crypto as a Practical Solution to B2B Payments

    January 18, 2023
    AR, accounts receivable

    Digitizing AR Would Address One of Executives’ Biggest Concerns About Economic Instability

    January 17, 2023

    • Advertise With Us
    • About Us
    • Terms of Use
    • Privacy Policy
    • Subscribe
    ADVERTISEMENT
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    • Industry Opinions
    • News
    • Resources

    © 2022 PaymentsJournal.com

    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Industry Opinions
    • Faster Payments
    • News
    • Jobs
    • Events
    No Result
    View All Result

      Register to download the Brighterion eBook - The power of today’s market-ready AI to reduce transaction fraud