The European Investment Fund (EIF) has signed a €5 million loan to Patria Bank, a Romanian lender specialised in financing small and microentrepreneurs with limited access to finance. The Tier II subordinated loan transaction, backed by InvestEU, will help strengthen Patria Bank’s capital position, thus facilitating further growth and development, with the ultimate goal of improving access to finance for […]

BLIK company, leader on the payment systems market in Poland, is launching in Romania, the second largest market in Central and Eastern Europe. The newly established company, BLIK Romania, will develop a unique and innovative digital payment system in RON that will bring a number of major advantages, including high security and simplifying payments by generating and using an individual […]

Lowering costs and increasing the speed of online payments have become essential in an era of growing price volatility. tbi bank is partnering with Open Banking provider IRIS Solutions to help both consumers and retailers make faster, lower-cost payments. tbi bank will offer the customers and retailers the ability to make and accept account-to-account payments using the services of IRIS […]

Mazars, the international audit, tax and advisory firm has released the fifth edition of its Financial Reporting of European Banks report, which focuses on European banks’ expected credit loss (ECL) levels in H1 2022. The report is based on an analysis of information published in the 2022 interim reports of 26 banks across 11 European countries including the UK, France, […]

EuPlatesc.ro, one of the largest payment processors in Romania, partner with nine banks on the local market, announces the integration of the Apple Pay payment service into its own platform to simplify the payment process in online stores, being a first on the local market of online payment solutions. The company estimates that more than 1 million payments will be […]

Revolut, the global financial super app with over 20 million retail customers, today launched Revolut Pay – a new secure online checkout feature which allows UK and EEA merchants to present ‘Revolut Pay’ as a payment method across product, cart, and checkout pages. Revolut Pay aims to disrupt the payments ecosystem by making shopping online even easier as it facilitates […]

kevin., the next-generation payment tech infrastructure provider of direct, safe, and resilient end-to-end financial transactions, has partnered with Switchio by Monet+, an independent software platform managing thousands of payment terminals in Europe. As a result, kevin.’s account-to-account (A2A) payments will be available on all POS (point-of-sale) terminals connected to the Switchio platform. Switchio by Monet+ works with multiple acquirers to […]

BLIK, a modern mobile payment system that was launched with the support of all major banks in Poland in 2015, is currently the most popular way to pay in this country. 21 million users of mobile banking applications in Poland already have access to BLIK, and over 10 million people use it regularly for payments. BLIK’s founders are now looking […]

Revolut, the global financial superapp with over 18 million customers worldwide, is offering payment services to all refugees, regardless of nationality, fleeing Ukraine following the Russian invasion. To ensure individuals displaced by the invasion have quick and easy access to their money, Revolut has eased many of the requirements needed to set up an account as well as a number […]

Provident Financial Romania, part of the International Personal Finance (IPF) group, the largest home credit business in Europe, has chosen DRUID technology to enable instant access to business and HR data with the aim of facilitating a boost in employee engagement and efficiency. Thus, the company has implemented EMA, a customized AI virtual assistant built to harness the full power […]

The value of remittances to Romania in 2021 reached EUR 316 million, an increase of 79% compared to 2020, as shown by data provided by Revolut app with 18 million customers globally, of which over 1.5 million in Romania. At the same time, the number of remittances generated by Revolut customers to Romania increased by 84% in 2021 compared to […]

Public Country-by-Country reporting (CbCR)  is officialised with the publication of Directive (EU) 2021/2101, amending Directive 2013/34/EU on reporting of income tax information by certain undertakings and branches. In an effort to curb tax avoidance and enhance tax transparency, public CbCR reporting will require both EU and non-EU headquartered multinational groups with a consolidated annual turnover over €750m to publicly report […]