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Kanika Saigal on payments
On Christmas Eve, when few people were paying attention to the world of fintech, Google was awarded a European Union e-money licence from the Republic of Ireland.
The agreement followed a similar deal the tech giant had struck with Lithuania’s central bank just a few days earlier.
With the pervasiveness of smartphones, e-money accounts – the digital equivalent to cash – are becoming ever more popular. With its new licence, Google Pay is now one step closer to fulfilling its ambitions to become a leading online payments provider in Europe.
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