Opportunity beckons for western card schemes but with serious challenges in tow
“China will open up its domestic market to non-Chinese payment processors will be welcomed by Visa and Mastercard, who will be expected to be the main beneficiaries. However, it is worth pointing out that this move had already been announced in 2016”
“Slowing loan growth would prevent it [Wells Fargo] from meeting goals that management has pursued for years. It boosted a plan to save $2 billion annually by the end of next year, saying it now will cut twice as much by 2019, according to a presentation on the company’s website.”
“Nordea Bank AB, which is threatening to shift its headquarters from Stockholm unless Sweden creates a more hospitable business environment, is considering Finland and Denmark as alternatives.”
“The advance of Chinese software will be crucial to the future of Ethiopian banking, one commentator noted. With WeChat Pay and Alipay storming the Western world, one would not bet against the Chinese when it comes to mobile finance.”
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