Payments

Google Pay gets EU license to move further into payments

  • Joining Facebook and Amazon, Google gets an EU e-money license.
  • The tech firm will store and transfer customer funds electronically.
close

Email a Friend

Google Pay gets EU license to move further into payments

Google received a license permitting it to offer payment services across the E.U. Issued by Lithuania, the e-money license enables Google to process payments, issue e-money, and handle electronic money wallets.

Moving from digital wallet to payment platform: Google Pay already stores credit card details. This new license allows Google to store and transfer customer funds electronically.

Lithuania emerging as fintech hub:  After the UK (128), Lithuania has issued the most e-money licenses in Europe (39).

Big tech firms continue to pursue payments: Both Facebook and Amazon have already received European e-money licenses. Google joins these tech firms and money transfer startups like Transferwise in competing to move money around for its clients on the continent.

Image credit

0 comments on “Google Pay gets EU license to move further into payments”

Payments

Zuora updates its platform with ‘unified monetization’

  • The new tool lets merchants package a one-time purchase and a recurring purchase within a single offering.
  • Unified monetization could help Zuora appeal to companies that rely mostly on one-time purchases for their revenue stream, but could see subscription offerings as a way to expand.
Rivka Abramson | October 04, 2021
Payments

Trustly adds instant payouts to US offerings

  • Trustly's offering, in partnership with Cross River Bank, allows businesses to complete near-instant disbursement of funds through its platform.
  • Industries that can benefit from the offering include retail, marketplace, insurance, and sports betting companies, says Trustly.
Subboh Jaffery | October 01, 2021
Payments

The payments space is getting closer to really serving B2B

  • B2B payments is a massive field that still hasn't seen a single player make a huge mark.
  • That's changing as a new class of fintechs set their sights on the space.
Ismail Umar | September 20, 2021
Payments

‘E-commerce subscriptions are about stability and predictability for consumers’: Behind Recharge’s recent growth

  • As more consumers started subscribing to various purchases during the pandemic, Recharge saw its own growth in revenue.
  • But are subscription services enough to stand on as a payments company?
Rivka Abramson | September 15, 2021
Payments, Sponsored

Gig workers are paving the future of payments

  • The gig economy is here to stay, and it's growing across the globe.
  • These are the four major trends shifting the payments space.
Nium | September 08, 2021
More Articles