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Very surprising to learn! I would imagine Facebook to incresingly take a more active role in the payments industry, leveraging its massive customer base among it's three social platforms: Instagram, Whatsapp and messenger. Perhaps the numerous scandals Facebook faced over the past years has eroded customer trust to the point of apathy. I am very curious to see what other tech giant takes advantage of this announcement. 

Could this be the great return of the QR payments?

Certainly it would be if it happened in Europe. I believe poor implementation, fragmentation of opinion and a lack of support for the QR initiative ultimately confused Europeans rather than excite the masses.

However, this seems to be an excellent opportunity for progressive Mexicans to take mobile payments to the next level. With the backing (and financing?) from Amazon it seems poised to turned into a successful initiative. Perhaps even to resemble the massively successful use of QR codes in China.

Maybe Amazon hopes to become the WeChat of Latin America?

Sad news to hear about Revolut, the golden child of digital banks in Europe. This resonates with similar news about N26 disregarding compliance about proper authentication for account openings.

The reality of fast growth is painful. The passion for success might be easily confused with poor working culture and critical mistakes can be made, such as the one illustrated in this article.

However, there is plenty to celebrate as well. Challenger banks have set the irreversible course of modernizing the banking industry in Europe for decades to come. I sincerely hope that Revolut, N26 and all challenger banks take a more serious approach to responsible governance practices.

Excellent opinion piece!

Sadly it is the reality of many clients I worked with as a consultant. No transformative initiatives to address the underlying challenges facing the bank. Rather, cosmetic changes to appear as a modern player.