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”

Lending, Payments

Can lenders improve the financial health of consumers through design?

  • Design can play a critical role in improving consumers' financial health when it comes to lending.
  • Research by the Financial Health Network shows that areas like defaults, making payments, and borrowing the right amount can be significantly improved through behavioral design principles, to ensure customers make decisions that improve their financial well-being.
Rabab Ahsan | May 26, 2023
Payments

5 questions with Zip CEO Larry Diamond

  • Payment act as a beachhead for financial services firms to more deeply serve customers, according to Zip's Larry Diamond.
  • We spoke to the payment firm's CEO about his new focus on the US and the future of the company.
Zachary Miller | May 15, 2023
Payments

Microsoft brings payments for businesses on Teams

  • Microsoft has collaborated with Stripe and PayPal to enable in-app payments for small businesses on Teams.
  • Connecting or signing up for one service – Stripe or PayPal – is required to set up the Teams Payments app, with support for GoDaddy in the cards.
Sara Khairi | May 11, 2023
Payments

Tokenization, programmable payments, inclusion: Unpacking near-term trends in the payments ecosystem

  • Very little appears to be staying the same where the payments industry stands in 2023 compared to where it’s headed in the next few years.
  • Tokenization beyond cards, borderless rails, credit for the underbanked, and the proliferation of payment acceptance options are some of the near-term trends in the payments ecosystem, suggests a new Mastercard report.
Sara Khairi | May 10, 2023
Payments

As Amazon Pay now offers Citi Flex Pay, will it help Amazon close the gap with PayPal?

  • Amazon has partnered with Citi Flex Pay to offer eligible card members the ability to pay over time at merchants who accept Amazon Pay.
  • Will gaining access to Citi's card network enable Amazon Pay to gain an edge over competitors like PayPal?
Rabab Ahsan | May 05, 2023
More Articles