Welcome to Everly.eu’s weekly summary. Let’s see the most important news we have covered during the last week in a TOP 5 list!
Mastercard and TransferWise have expanded their collaboration agreement so that the issuance of cards will be allowed in any market in the world where Mastercard is accepted and TransferWise is licensed.
„Although we have about 4 million users, we spent almost nothing on marketing, “ says Ahmed F. Karslı from Papara in an exclusive interview for Everly.eu
The British challenger Monzo bank has relaunched its premium ‘Monzo Plus’ account with a £5/month fee. And their customers embraced it. The Danish banking app Lunar is now focusing on business banking and has provided 2,000 users with early access to its business accounts and OakNorth Bank received additional CBILS (Coronavirus Business Interruption Loan Scheme) allocation from the British Business Bank.
Mastercard has managed to build a strong partnership with TransferWise. The companies work together since the issuance of their first debit card in Europe in 2018.
Ahmed F. Karslı is the founder and CEO of Papara. He got his Bachelor of Law and is currently pursuing his LLM at Istanbul University. Ahmed is a serial entrepreneur, that build his first company at the age of 17.
Monzo bank has had a tough year so far. The Bank of England issued Monzo to have a capital worth of 13.6 percent of its risk-weighted assets to be protected against potential losses. Before the rule change, Monzo was required to have capital worth at 9 percent.
For €265 per year (DKK 1,980), the customer is given access to Lunar’s brand new business account.
The bank has approved a total of £600m since the start of lockdown which makes it an average of £150 million per month in new loans.
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