European banks launch Wero to challenge Visa and Mastercard's dominance 😳💳; FinTech startup which aims to revolutionize Wall Street with AI Analyst 🤖📊

FinTech is Eating the World, 1 October

Hey Everyone,

Good morning & happy Wednesday! Today’s issue is super interesting as we’re going to look into European banks which just launched Wero in a bid to challenge Visa and Mastercard's dominance (why & if it matters, what’s next in the future of payments + lots of bonus reads on Visa, Mastercard & co), and AI-first FinTech startup which aims to revolutionize Wall Street with AI Analyst (what’s the USP here & why it makes sense + more bonus reads on all things AI + Finance). So let’s just jump straight into the amazing stuff 🌶️

European banks launch Wero to challenge Visa and Mastercard's dominance 😳💳

The BIG News 🗞️ A consortium of 16 major European banks and payment processors has just launched Wero, a new digital wallet and instant payment solution aimed at providing an alternative to Visa V 0.00%↑ and Mastercard MA 0.00%↑ in Western Europe.

Backed by financial giants like BNP Paribas, Deutsche Bank, and Worldline, Wero enables users to make instant account-to-account transfers across borders using just a phone number or email address.

Let’s take a look at this, see why and if it matters, and what’s next.