Welcome to Everly.eu’s weekly summary. Let’s see the most important news we have covered during the week in a TOP 5 list!
Monzo has shut its US Las Vegas customer support, the customers will be served from one from the UK.
Santander has launched its long awaited PagoFX which is supposed to compete fintechs like TransferWise.
Barclays executives are willingly donating parts of their wages, Visa and Fold became partners and introduced bitcoin reward card and SWIFT has canceled Sibos 2020.
1st place: Monzo shuts Las Vegas customer support office, 165 employees being let go
Monzo already implemented voluntary employee furloughs and salary cuts in the U.K.
Now Monzo is continuing to take tough decisions in order to keep up its financial position amidst the coronavirus crisis which will result in an economic downturn
2nd place: Santander launches PagoFX in the UK to take on TransferWise
Banco Santander has launched a cross-border payments app PagoFX in the UK, taking on the might of rival fintech unicorn TransferWise.
PagoFx has been in the works for some time and will allow UK residents with a debit card issued by any UK bank or financial institution to send money aboard using just their smartphone.
3rd place: Barclays executives donate 1/3 of pay to COVID-19 charity
Some of the top bosses at Barclays are donating a third of their fixed salary over the next six months to help kickstart a £100m aid package.
Chief executive Jes Staley, chair Nigel Higgins and group finance director Tushar Morzaria are each giving up part of their salary to the cause and Barclays will match these donations in full.
4th place: Visa partners Fold to launch bitcoin rewards card
Visa and popular bitcoin cashback app Fold are ready to introduce customers to the first debit card which provides users with a bitcoin rewards program.
The card will enable users to spend U.S. dollars and get bitcoin rewards, thus promoting cryptocurrency use in standard payments.
5th place: SWIFT cancels Sibos 2020 in Boston due to COVID-19
SWIFT has made the decision to cancel the fintech conference Sibos 2020 in Boston due to the coronavirus pandemic.
The idea is to replace the October event with a virtual alternative.
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