Europe

BNPL

Two has raised $15.2 million in new funding to scale its B2B payments platform – which offers instant net terms akin to BNPL for businesses – and fuel expansion into the US and Western Europe.

CORPORATE ACTIVITY

UK-based IFX Payments is prepared to withdraw its takeover offer for currency firm Argentex after the target entered insolvency proceedings. Argentex’s collapse – with administrators appointed and its main unit ceasing operations – has triggered a clause allowing IFX to abandon the £3 million deal.

CROSS-BORDER

UniCredit has launched a new international payments service for its 15 million retail clients through a partnership with Wise. Initially rolling out in Italy on 21 July, it enables Euro account holders to send money abroad in local currencies via the bank’s app with near-instant settlement and transparent, competitive fees.

EPC/SEPA

LHV Bank has become a direct participant in EBA Clearing’s RT1 platform, allowing the UK-based institution to process SEPA Instant Credit Transfers in real time. By integrating directly into the SCT Inst scheme, LHV can offer Euro instant payments to other institutions without a correspondent, bolstering its cross-border service capabilities.

FRAUD & CYBERSECURITY

The UK’s Serious Fraud Office has, for the first time, used new powers to freeze crypto assets – seizing about £10,865 in Bitcoin and £289 in USDC from a fraud suspect’s wallet. The agency obtained a Crypto Wallet Freezing Order under laws enacted last year, signaling its intent to pursue criminal funds hidden in digital assets.

REGULATION (EU)

The European Central Bank is accelerating work on the digital euro, responding to EU leaders’ calls to reduce reliance on foreign card networks and bolster Europe’s payment autonomy . In a new progress report, the ECB notes it has 70 market participants testing features like conditional payments on a digital euro prototype, and it is engaging merchants, vulnerable consumers and others to ensure the CBDC’s design is inclusive and aligned with legislative timelines.

North America

CORPORATE ACTIVITY

Block (formerly Square) will join the S&P 500 index on 23 July, replacing an outgoing energy firm. News of the index inclusion sent shares of the mobile payments and POS company up nearly 10%, as Block becomes the second fintech this year to enter the S&P 500.

CRYPTOASSETS/BLOCKCHAIN/DLT

Tether has announced plans to launch a US-domiciled stablecoin by late 2025 in order to comply with new American regulations. The forthcoming dollar-backed token will coexist alongside Tether’s global USDT, but will be tailored to meet the GENIUS Act’s reserve, audit, and transparency requirements as Tether moves to offer a fully compliant option for US institutions.

DIGITAL, RETAIL & ‘Neo’ BANKING

Towpath Credit Union has partnered with Alkami to execute a full digital banking transformation. The Ohio-based credit union completed a core system conversion and replaced its loan origination, online banking and document management systems with Alkami’s cloud platform. Its aim is to offer members a modern, secure experience with real-time insights, integrated card controls, credit score monitoring and more.

OPEN BANKING

JPMorgan Chase plans to begin charging fintechs and data aggregators for accessing its banking data – a notable shift away from the free API access model. The US banking giant has sent pricing schedules to aggregators that outline new fees (highest for payment-related uses), a move it says will help fund secure data infrastructure but which could upend fintechs’ reliance on cost-free data links.

REGULATION

U.S. lawmakers have advanced sweeping crypto legislation, with the House passing a set of bills – including the landmark GENIUS Act – to establish federal stablecoin rules. President Trump signed the Act on 18 July, enacting strict requirements for issuers to hold 100% liquid reserves and monthly audits, while forbidding misleading claims of government backing. The law aims to protect consumers and cement the dollar’s dominance, and is expected to spur innovation by providing regulatory clarity for stablecoins.

LATAM

ISSUING

Maha Energy has agreed to finance fintech Keo World’s corporate credit card program across Latin America. The partnership establishes a secured credit facility of up to $100 million, enabling Keo to extend US-dollar B2B credit lines for virtual corporate purchases, travel and expenses – all backed by Keo’s card receivables and issued under its existing license with a U.S. card network.

APAC 

CASH(less)

Consumers across Asia are rapidly shifting away from cash and cards toward digital payment methods. Over 70% of online payments in Asia now flow through alternative methods like mobile wallets, QR codes and bank transfer apps, far eclipsing traditional card usage. Real-time payment networks are propelling this trend. India’s UPI, for example, handles billions of instant transactions monthly and has linked with Singapore’s PayNow for cross-border transfers as governments push QR standards and instant rails to boost financial inclusion in high-growth markets.

CORPORATE ACTIVITY

Hong Kong-based fintech Lendela has teamed up with credit bureau TransUnion to give Hong Kong consumers free access to their credit scores. As part of a financial literacy initiative, users can now check their TransUnion credit score and report via Lendela’s platform at no cost, and then receive tailored loan offers from lenders in Lendela’s marketplace. The partners say the tool will increase credit awareness and enable more informed borrowing, while promoting digital lending growth in the region.

Middle East and Africa

ACCEPTANCE & PROCESSING

Payments provider MDP has rolled out a new third-party processing hub built on BPC’s SmartVista platform to serve banks, fintechs and merchants across the Middle East and Africa. The fully scalable system consolidates card issuing, acquiring, and transaction processing in a modular solution – allowing MDP to support over 260 financial institutions with end-to-end debit, credit and prepaid card services and network-wide card acceptance in the region.

BNPL

Bahrain’s EazyPay has partnered with Saudi Arabia-based Tamara to bring Tamara’s Buy Now, Pay Later offering to Bahrain’s market. Under the deal, signed in Manama, EazyPay will serve as Tamara’s local acquirer and payment gateway, enabling a smooth BNPL checkout experience for Bahraini merchants and shoppers, backed by EazyPay’s secure processing infrastructure.

CRYPTOASSETS/BLOCKCHAIN/DLT

Morocco’s central bank is piloting the use of its nascent central bank digital currency (the e-Dirham) for peer-to-peer and cross-border payments. The bank revealed it is working with the IMF and World Bank to assess implications of a CBDC and, alongside Egypt’s central bank, exploring using a digital currency for transfers between the two countries. Officials also indicated Morocco is preparing to legalise currently-banned crypto assets, with a draft law under review that would regulate cryptocurrencies and address illicit use risks.

ISSUING

SanuPay, an East Asia-based card tech company, has teamed with OpenWay to launch Ethiopia’s first domestic credit card. The partnership – in concert with local operator SantimPay – will issue 4 million debit/prepaid cards and thousands of Visa and Mastercard credit cards on OpenWay’s Way4 platform, alongside deploying POS terminals and ATMs countrywide. Oromia Bank will issue the new cards, as Ethiopia modernises its payments infrastructure to boost financial inclusion.

MOBILE MONEY/WALLETS

Nigeria’s digital lender Kuda Bank has introduced a multicurrency wallet feature in its mobile app, allowing users to hold, send, receive, and convert US dollars alongside local currency. Aimed at freelancers and remote workers, the new wallet lets Nigerians seamlessly exchange naira for USD and accept USD payments – with support for GBP and EUR planned next – all within the same Kuda account. The move comes as more Nigerians seek to preserve value amid high inflation, and reflects a broader push to simplify cross-currency money management for African customers.