New Generation Mobile Banks

Novi and Zelf are forthcoming new generation 'mobile banks' that will exist mainly in instant messaging. With messaging as its only interface, Zelf will have no branches, no app, no installation and no new UI to master.

Novi 1
  • FB's digital wallet for its digital currency Libra
  • Send money as easily as sending 'hello' to another person
  • No charges or fees: what you see is what you get
  • Buy Libra in local currency and transact locally and globally in Libra
  • Seamless cross-border, no exchange rates, no conversion
  • Product announced, no launch date set yet

Zelf 2 3
  • Minimalist bank and Novi's European challenger
  • Works via third party instant messaging, offline via ewallets
  • Provides virtual account and virtual card
  • Open account in seconds, send and receive money in seconds
  • No KYC needed until EUR 150 balance is reached
  • Founded by ex Deutsche Bank (DE), Barclays (UK), BNP Paribas (FR)

Bonus: EPI 4 5
  • European Payment Initiative (EPI) is EU's alt to Visa & Mastercard
  • Envisaged as a unified European electronic payment system
  • To support EU single market & defrag of incompatible systems
  • Features cards and digital wallets, but no new digital currency
  • Sixteen founding banks including BBVA, ING, Société Générale

Other News
  • Google to consolidate payment systems under Google Card
  • FB introduces whatsapp payment, available at limited locations
  • Natwest's Mettle for small businesses: free accounts, bookkeeping
  • Memo is a bank for SMEs, offers friendly bankers
  • Greece mandates residents use epayments for 30% of spending