Android Pay in bank apps, deVere’s e-money app, and Redwood Bank in Banking news
- Android Pay gets inside bank apps. Google has partnered with several banks including Bank of America, USAA, Discover and mBank to integrate Android Pay into their banking apps. This means that customers of these banks no longer have to download the Android Pay app to add their card, which Google hopes will increase the adoption of the service. Once a card is added Android Pay works as normal and customers can pay in store using NFC terminals or online
- Lloyds Banking Group has reportedly chosen Germany as its European base after Brexit. The bank hopes to submit an application to BaFin, the German financial regulator, to change the status of its Berlin operation by the end of September 2017
- Vouchercodespro.co.uk survey has found that the average bank customer has not visited a branch in almost two years. The poll also found that 88% have never written a cheque and 85% would rather ring their branch or use social media if there is an issue
- deVere Group has launched deVere Vault, a global e-money app which allows users to open an account in five minutes and offers a single card, multi currency service
- Redwood Bank, a new UK SME business bank, has secured a banking licence following approval from the FCA and PRA. The new bank will offer secured SME lending products and business deposit accounts and expects to launch to customers later this year
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