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!
Revolut Business launched 3 years ago and has been very successful so far. Last week the company announced that it’s business banking option has hit a new milestone of 500,000 customers.
Curve extended its all-cards-in-one service to loyalty cards. The loyalty system now includes retailers like Tesco, Costa Coffee, IKEA, and more.
PayPal launched its ‘Pay in 4’ to compete with Klarna and other ‘buy now, pay later’ based businesses. About 40,000 young people already have a Revolut Junior account in Ireland. Financial API provider TrueLayer has recorded a serious increase of UK consumers using Payment Initiation (PI) during the lockdown.
1st place: Revolut’s business banking thrives as it hits 500k SME customers
Revolut Business has also launched several new products, updated its interface and navigation and added more mobile functionality.
2nd place: Curve all-in-one system now includes loyalty cards
Curve claims that this innovation has been on the agenda for some time, and takes them one step closer to our mission of connecting the customer’s finances in one place to “swap their wallet for Curve”.
3rd place: PayPal enters the installment market with a new BNPL product
This new service is an expansion of PayPal’s existing products, like PayPal Credit’s revolving credit line and its Easy Payments.
4th place: Revolut Junior account successful in Ireland
Aurelien Guichard, product owner, Revolut Junior, says: “Conversations about money typically start at home and we believe these skills are gained little by little, through experience and with help of parents and guardians.”
5th: Open Banking payments up 832% during lockdown accoring to TrueLayer
The majority of growth (88%) was from people with bank accounts held at incumbent banks such as Lloyds or Barclays, with account holders at challenger banks such as Monzo and Revolut accounting for 12% of growth.
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