Ethiopia-based Abay Bank has launched an international prepaid Visa card in partnership with Visa Inc.

The card has been designed for business owners engaged in international trade, professionals using global digital platforms, and travellers who require international payment tools, according to Yehuala Gessesse, chief executive officer of Abay Bank. The launch positions the product within a broader category of prepaid international cards that allow users to transact abroad without a linked current account, a format that has gained relevance as demand for cross-border payment access grows among Ethiopian consumers and businesses.

The introduction follows a period in which Ethiopia’s banking sector has increased investment in digital financial services, with banks expanding mobile banking, internet banking, card services, and electronic payment platforms to meet rising demand for digital transactions.

Regulatory context

The launch also follows foreign exchange reforms introduced by the National Bank of Ethiopia, which have included measures to improve access to foreign currency services and support closer integration with global markets. These reforms have created conditions in which financial institutions can introduce additional international payment products, a shift that follows Ethiopia’s longstanding foreign currency shortages, which have historically constrained cross-border transaction capacity for both individuals and businesses.

Yared Endale, Visa’s country manager for Ethiopia and head of the East Africa cluster, said the partnership with Abay Bank is intended to expand international payment access for Ethiopian customers. He noted that Visa’s local office in Ethiopia, one of ten offices the company operates across Africa, reflects its continued presence in the country’s financial ecosystem.

Revolut has announced that it has been granted a banking license in France, marking a major milestone in the company’s European expansion.

According to the announcement, the new French bank will serve customers across Western Europe, where around 30 million people already use Revolut, making it one of the largest digital banks in the region by customer count.

To support this scale, Revolut said it is committing well over €1 billion in investment across the region, hiring more than 600 people, and establishing its new Western European headquarters in Paris by 2027.

Under a European dual-hub model, the French bank will operate alongside Revolut Bank UAB in Lithuania, with both banks supervised by the European Central Bank (ECB) as the company looks to drive innovation at scale.

Revolut currently operates as a bank in more than 32 countries, though not in all the markets where it is present.

Mastercard Chief Product Officer Jorn Lambert said: “By bringing together Mastercard’s global network with BVNK’s on-chain infrastructure and stablecoin-focused technology, we can deliver a more efficient, reliable, and seamless payment experience.”

Mastercard has announced the completion of its acquisition of BVNK, a digital payments infrastructure provider.

According to a statement from the company, the acquisition is aimed at increasing interoperability between fiat and digital currencies, giving individuals and businesses more options for transferring value.

By bringing together BVNK’s on-chain infrastructure and stablecoin-focused technology with its global network, Mastercard aims to strengthen the connection between digital assets and traditional payment systems. The deal is expected to support the broader global adoption of secure, interoperable value transfers.

BVNK provides the infrastructure underpinning fiat currencies and on-chain payments. The company’s technology enables individuals, businesses, and machines to store, transfer, manage, and convert value between fiat and digital currencies, with all such transactions carried out within a framework of security, regulatory compliance, and interoperability.

Combining BVNK’s technology and industry expertise with Mastercard’s global capabilities is expected to help financial institutions, fintech companies, and businesses scale use cases based on stablecoins and tokenized assets. These use cases include cross-border business-to-business payments, mass payouts, reconciliation, and treasury operations.

Commenting on the matter, Mastercard Chief Product Officer Jorn Lambert said digital currencies, particularly stablecoins, are increasingly addressing real needs in areas such as cross-border business-to-business payments, personal cross-border money transfers, mass payouts, reconciliation, and treasury operations, adding:

“In a multi-currency ecosystem where fiat currencies, stablecoins, tokenized deposits, and other forms of value coexist, the new payment paradigm will be shaped by how effectively different infrastructures, networks, and forms of money connect and interoperate with one another. By bringing together Mastercard’s global network with BVNK’s on-chain infrastructure and stablecoin-focused technology, we can deliver a more efficient, reliable, and seamless payment experience.”

EBay, opens new tab forecast third-quarter revenue above Wall Street estimates on Wednesday, leaning on ‌its push into authenticated luxury goods, collectibles and refurbished products to bring more high-value buyers to its online marketplace.

The results are the first since the company rebuffed GameStop’s GME.N about $56 billion unsolicited bid as “neither credible nor attractive”. ​GameStop CEO Ryan Cohen has, however, said he plans to continue pursuing a ​combination. EBay has doubled down on its “focus categories”, targeting enthusiast buyers who value ⁠selection and specialist services, a strategy that sets it apart from rivals.

The $1.4 billion acquisition of ​fashion resale platform Depop is also providing a lift, expanding the company’s reach among younger consumers ​and strengthening its position in the growing re-commerce market.

“Focus categories, consumer-to-consumer and re-commerce, each grew 20% on the platform individually and collectively, representing 70% of gross merchandise volume,” CEO Jamie Iannone said in an interview ​with Reuters.

The company forecast third-quarter revenue to be between $3.07 billion and $3.12 billion, compared with analysts’ ​estimate of $2.97 billion. The online retailer’s shares, up more than 25% this year, were trading 1% higher after the ‌bell.

BROAD-BASED ⁠GAINS

Second-quarter revenue rose 15% to $3.13 billion, beating analysts’ average estimate of $3.02 billion, according to data compiled by LSEG.

The results reflect strength that was “broad-based” with focus categories such as collectibles, motors, fashion and refurbished all contributing to growth, Chief Financial Officer Peggy Alford said during a post-earnings call.

Gross ​merchandise volume, a key ​industry metric measuring ⁠the total value of all goods sold on the platform, rose 15% to $22.4 billion for the three months ended June 30.

The Depop deal, ​which closed on July 30, has helped eBay unlock “new supply and new ​demand for ⁠the marketplace that had not been there before,” Iannone said.

For the third quarter, eBay expects GMV growth to be between 10% and 12%, including 2.5 points of contribution from Depop, he said.

Block, opens new tab raised its full-year gross profit forecast ​on Wednesday after delivering market-beating second-quarter results on the back of ‌resilient consumer spending, strong growth at Cash App and improved margins.

Cash App has largely fended off competition by evolving beyond peer-to-peer transfers into a broader consumer financial services platform offering banking, investing ​and lending products. Gross profit at Cash App surged 31% in the quarter.

The ​second half of the year also brings major shopping events, including ⁠the holiday season, with retailers offering deep discounts to entice budget-conscious consumers.

Block now expects ​gross profit of $12.51 billion, representing a 21% growth in 2026, versus its prior forecast ​of $12.33 billion, or 19% growth.

The stock reversed course after an initial post-results rally. “Seems like there’s the usual post-print volatility in the stock,” analysts at Seaport Research Partners wrote.

It was last down 1.4% ​in extended trading. Shares are up nearly 30% in 2026.

Mastercard Chief AI and Data Officer Greg Ulrich said artificial intelligence’s true potential can only be realized through high operational standards, strong governance, and scalability.

According to a statement from the company, while new technological developments emerge in AI on a daily basis, the benchmark in critical sectors such as finance and payment systems remains ensuring that the technologies underpinning the foundations of economies operate reliably and without interruption.

Mastercard is focusing its AI investments on developing new capabilities for its customers and boosting employee productivity. As part of this effort, the company is developing AI-powered commerce technologies, personalization tools, and big-data-driven fraud solutions for banks and retailers, while also rolling out AI-powered coding assistants and customer service tools for its employees.

Through new foundational AI models, Mastercard Agent Suite, and Virtual C-Suite — which integrates AI into decision-making processes — the company aims to place this technology at the center of its operations. Mastercard’s recognition by Fast Company as one of the leading companies in applied AI, along with its high ranking on the Evident AI Payments Index, are cited as indicators of this strategy.

“Once trust is lost, it’s extremely difficult to rebuild”

Commenting on the matter, Ulrich said the “move fast and fix it later” approach cannot be accepted when it comes to using AI in the financial sector.

Noting that decisions made by AI in critical areas such as payment approvals, fraud detection, and risk management cannot be undone, Ulrich said that once trust is lost, it is extremely difficult to rebuild, emphasizing that AI’s true potential can only be realized through high operational standards and scalability.

Highlighting four key strategic areas for sustainably positioning AI at the center of commercial systems, Ulrich said:

“Decentralization without standards creates risk, while centralization without proximity to business units slows down the pace of impact. Striking the right balance is critical. AI maturity isn’t built by data scientists alone — it’s built together with engineers, product leaders, and operators who understand how models actually behave in the real world.”

Ulrich said that confidently integrating technology into core operations is the most important innovation criterion for financial institutions, adding that trust in financial services is non-negotiable.

Touching on the company’s approach to transparency and governance, Ulrich said: “Governance is a foundational force that ensures AI’s scalability and sense of accountability from the very start, running through every stage of a project. Many people think governance slows processes down, but our experience shows the opposite. When a solid governance structure is in place, teams are free to focus entirely on innovation and solving customer needs.”