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xxxFlagship Advisory Partners set out some of the key reasons for this decline

 

Lack of technical innovation: Challenged to innovate at the same pace as V&MC, which leverage economies of scale and remain at the forefront of payment tech and UX.
Fall short in enhancing interfaces, customer service, and loyalty programs.
Slow Support of Digital Wallets: Slow to adopt and integrate the increasingly popular digital wallets (e.g. Apple Pay, Google Pay), compared to V&MC, which are quicker and more agile in implementing new technologies
e-CommerceChannel Gap: Failed to invest in developing robust and secure online payment capabilities, resulting in a missed opportunity and increasing vulnerability in the rapidly evolving digital payments landscape.
Limited Geo Reach: Confined to home markets and find it challenging to compete x-border.
Local schemes often depend on co-badged V&MC networks to manage the growing volume of cross-border payment transactions.
Integration Requirements: The cost of integrating Europe’s local card schemes remains high, requiring significant investment in technical infrastructure, regulatory compliance, security measures, and ongoing maintenance.
Collaborative Shortcomings: While local cost-effective, local schemes struggle to forge strategic alliances with high-growth stakeholders in the payment ecosystem.
New-to-market providers frequently default to V&MC for partnerships.

From: Europe’s Local Card Schemes on a Steady Decline.

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A recent YouGov survey (commissioned by Visa and others) of 500 cryptocurrency users in each of five emerging markets found that stablecoins, which typically track the value of the US dollar, are increasingly seen as a “core application” in the crypto space, offering practical solutions such as currency conversion, remittances and payment for goods.

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Some users believe they are behaving responsibly. Lu Tan Tu offers cash-outs against utility bills via SPayLater and e-wallet MoMo in Da Nang city in central Vietnam. The 24-year-old has been doing cash-outs for a year, with amounts ranging from 500,000 dong ($20) to 3 million dong ($119), he told Rest of World. He charges 1%–5% in service fees, “just as a side business to earn money for gas.” For borrowers, cash-outs are “a safer alternative” to loan sharks, he said.

From: Turning buy-now-pay-later credit to cash through loans in Southeast Asia – Rest of World.

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The bitcoin price is set by trading, and that’s overwhelmingly trading against the unregulated Tether and FDUSD stablecoins on Binance.

The volumes of just the BTC/USDT and  BTC/FDUSD trading pairs on that one exchange swamp all other trading in  bitcoins. Coinbase or regulated ETFs aren’t even in the running.

From: No, the bitcoin price did not move from debates, Trump ‘crypto burgers’ or anything other than shenanigans – Attack of the 50 Foot Blockchain.

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Survey Shows 69% of Crypto Users in Emerging Markets Opt for Stablecoins Over Local Currencies

Stablecoins are increasingly reinforcing the dominance of the U.S. dollar worldwide, particularly in regions where access to USD is limited

From: Survey Shows 69% of Crypto Users in Emerging Markets Opt for Stablecoins Over Local Currencies.

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Monzo Flex customers with iOS 18 and iPadOS 18 will have the option to pay in full or spread the cost over multiple months directly at the point of purchase in Apple Pay. Customers will be able to use this when shopping online using Apple Pay and in-app on iPhone and iPad.

From: Monzo brings monthly payments to Apple Pay purchases.

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All Stablecoin Trade Volume Makes Over 80% of the Total Crypto Market: More than 80% of the daily volume of the cryptocurrency market is made up of trades involving stablecoins.

From: Rise | 24 Incredible Stablecoin Stats From 2024.

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Whistleblower programs were established at the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) to manage and investigate tips, and the calculus for awards depends on multiple factors, including the value of the information in making the case. But the payouts can be enormous. Recent cases have rewarded SEC whistleblowers with $29 million, $38 million, and $104 million. Last year, the SEC cut its biggest check yet, issuing a payout of $279 million to one tipster who reportedly aided in a bribery case involving the Swedish telecom Ericsson that resulted in a more-than-billion-dollar settlement.

From: How to Make Millions as a Professional Whistleblower | GQ.

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The Publicis Sapient Global Banking Benchmark is a longditudonal survey of more than 1,000 senior banking executives around the world and provides a useful insight into banking thinking and shifting priorities. The 2024 survey says that AI is kickstarting the next wave of digital transformation in banking and notes that banks are spending nearly one-third of their customer experience digital transformation investment on AI.

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Until now, manufacturers were expected to follow security guidelines, but the new law makes three new requirements:
that password procedures are more secure, including ensuring any set by the manufacturer are not left blank or using easy-to-guess choices like “12345” or “admin”
that there is clarity around how to report “bugs” or security problems that arise
that manufacturers and retailers inform customers how long they will receive support, including software updates, for the device they are buying
Failure to meet these minimum requirements, known as the Product Security and Telecommunications Infrastructure (PSTI) regime, can trigger fines.

From: Smart gadgets: Tougher rules for sellers of internet-enabled devices in the UK.

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