Hot on the heels of Visa and PayPal agreeing to cooperate last week, MasterCard's chief executive Ajaypal Singh Banga has said that it is involved in "constructive dialogue" with PayPal, according to the Financial Times.
"PayPal is actually working to resolve some of those concerns we all have," he said after MasterCard reported second-quarter results. "This is actually a good thing for PayPal and for the industry because at the end of the day, providing consumers the ability of having seamless, simple ways of paying is good for all of us."
MasterCard reported $983 million in second-quarter net income, a rise of seven percent on the same period in 2015.
France's BPCE banking group has bought high-profile German online bank Fidor for an undisclosed sum as it seeks to expand further into digital finance. The deal will allow Fidor, which will continue to operate independently, to achieve its "next phase of growth", its CEO, Matthias Kroener, told Reuters.
Barclays posted a 20 percent fall in first-half pre-tax profits as the costs involved in reducing its asset base countered the benefits of improved returns in its core business. It had a half-year pre-tax profit of £2 billion ($2.64 billion), compared to £2.6 billion a year earlier.
KPMG has warned that major international banks will have to raise up to €350 billion ($388 billion) in extra capital or else cut lending by up to €7 trillion if they are to meet the requirements of much-speculated upon 'Basel 4' regulations that senior regulators insist don't actually exist, according to the Financial Times.
The extra capital requirement, should it come to pass, would be spread across 100 international banks to cover new regulations on trading book risk, operational risk and loan treatments. The prospective rule changes are not a factor in the EU's banking stress tests, the results of which will be released tonight.
Spanish bank BBVA posts drop in profit but beats analysts' forecasts
Singapore bank concerns grow on oil and gas sector amid Swiber's collapse
UK payments regulator calls for structural reform
Kenya's PesaPal is moving into the physical world with its first point-of-sale system
MENA banking culture stunting growth
Bank of America doubles down on credit scores
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