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Morning Briefing

Morning Briefing

Barclays is considering selling some or all of its African banking operations as new chief executive Jes Staley is questioning the strategic fit of the bank's large African operations with the rest of the group, according to the Financial Times.
Barclays has operated in Africa for nearly a century.

The online-lending industry in the US is facing a new test if, as expected, the Federal Reserve raises short-term interest rates today. "Changes in rate could have an impact on our business in at least three areas: demand for loans, credit performance and supply of capital," Sam Hodges, co-founder and managing director at Funding Circle told the Wall Street Journal.

Banks in Australia have agreed to accept payments made using Android Pay in 2016 but Apple has still not managed to convince them to accept Apple Pay despite the fact that it has already launched in the country. Thus far, Apple and Australia's major banks, which offer their own mobile payment services, have failed to agree on fees.

Russia issued its first electronic payment cards under its new payment system this week, in a bid to move away from dependence on the major cards networks. The Russian bank cards, called Mir, have been developed in response to Western sanctions against the country.

In India, both MasterCard and Visa have complained that they are being kept out of Jan Dhan Yojana, the government's financial inclusion scheme, in favour of RuPay, India's government-backed card issuer. The international networks have asked the Reserve Bank of India to create a level playing field for them to compete with RuPay.

RBS eyes trade sale or IPO for Williams & Glyn unit
RBC signs rewards agreement with ride-sharing service Uber
Ex-Barclays boss hits fintech trail

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