Monoup news digest: main updates from fintech industry
Today is time for news from Monoup! As always, we’ve gathered the most important updates and are ready to share our perspective on these stories and dive into the details.
Universal QR codes are becoming increasingly popular in the CIS region. This payment method, designed to unify fragmented payment infrastructures and foster collaboration among them, could achieve a high level of adoption. However, this doesn’t mean that all payment systems will shut down and market competition will disappear. On the contrary, everyone will be able to earn even more and offer even convenient services by integrating with other market players. We’ll tell you about the experiences of Kazakhstan and Uzbekistan below.
Also this week, many Revolut users were alarmed by the company’s new policy: the list of countries blocked for balance top-ups has expanded. Read on for all the details in order.
The Era of Universal QR Codes: Kazakhstan and Uzbekistan
Paying for goods and services will be possible from any bank account to any bank account once everyone connects to the unified QR technology in Kazakhstan.
Since the end of September, the interbank QR payment service has been available to customers of CenterCredit Bank, Home Credit Bank, and Freedom Bank To make a payment, a customer needs to open their bank’s mobile app, scan the QR code on the merchant’s terminal (which cooperates with one of the participating banks), and confirm the payment.
A similar task is being undertaken by banks in Uzbekistan: in 2026, the country plans to introduce a unified QR code payment standard. The Central Bank has scheduled the pilot launch for this month, starting with selected banks and payment systems. From February 2026, the payment method will be fully available to all market participants.
This active work in this direction isn’t happening by chance: countries understand that creating payment difficulties will prevent them from achieving digitization and fast financial flows.
Unlimit Launches Off-Ramp Solution
The payment provider Unlimit known for its traditional solutions has unexpectedly added a crypto department.
The company introduced a new brand, Stable.com, offering off-ramp crypto exchange services for businesses and individuals without fees. The platform is built on Unlimit’s years of payment channel experience and won’t function as an exchange but will offer a decentralized experience.
Based on our observations, the Stable.com brand appeared earlier as a payment provider but was only officially introduced as a crypto service now. Whether this was planned or a shift driven by current crypto-adaptation trends remains unclear.
Revolut Blocks Balance Top-Ups from 52 Countries
British fintech company Revolut expanded its list of countries whose cards are no longer supported for balance top-ups starting December 1, 2025. Specifically, European accounts can no longer be topped up with cards from over 52 issuing countries, including most CIS countries and parts of Asia.
Kazakhstan, Georgia, Turkey, Azerbaijan, Uzbekistan, Armenia, Kyrgyzstan, Serbia, the UAE, Israel, Vietnam, Thailand, and even Monaco found themselves on the same list as Hong Kong, North Korea, Yemen, and several other jurisdictions.
From various sources, it can be concluded that Revolut came under pressure from payment partners and was forced to restrict such operations, even though most of the countries on the list are not under sanctions or restricted by international law. Now, users living in the EU but wanting to top up their accounts with, for example, a Serbian card, will no longer be able to do so.
Polish Adaptation of MiCA Not Signed by the President
The 118-page Polish version of the MiCA crypto regulation did not meet the president’s expectations. As we previously explained, the draft law contained several discriminatory requirements, which the president also noted, fearing that promising businesses would move to the Czech Republic, Malta, or other countries with clearer rules and simpler regulations.
For Poland, this would be a significant loss, as it was one of the pioneers in the crypto industry, issuing VASP authorizations to hundreds of companies before MiCA began. Some of these companies could transition to the new regime, though a significant number would undoubtedly cease operations. The Polish version of VASP was known for its speed and simplicity, which attracted many entrepreneurs who may not be ready to handle current complexities. New AML and capital rules impose greater responsibility, which differs significantly from the initial expectations of launching such a business in Poland.
One of the proposed new crypto law’s provisions was the state’s ability to block any cryptocurrency websites “with one click,” without investigation, which also concerned the president. While there is some rational basis for his concerns, many legislators reacted negatively and believe the industry needs to be kept under strict control.
Banks and Tech Giants to Compensate for Fraud Losses
The EU has passed a controversial law requiring advertising and social media platforms like Meta, Google, and Amazon to be held accountable for fraud that thrives on their platforms.
As a solution to the frequent scamming of EU citizens, it was decided that banks must compensate victims if a fraudster, impersonating a bank, deceitfully steals their money or if payments are processed without the cardholder’s consent (as often happens in Facebook ad accounts).
In turn, social media companies must compensate banks if it is proven that they failed to remove posts and ads containing online fraud that ensnared users. The recent investigation into Facebook’s activities in this regard is believed to have been the catalyst for these changes. According to published data, a significant portion of the social network’s ad revenue comes from illegal ads that the company does not adequately block. While it claims to be against such practices, it hasn’t been quick to impose the restrictions.
Thus, the EU aims to achieve dual accountability: platforms must moderate and remove fraudulent ads and messages, while banks must monitor what they process and which merchants payments are “released” to. Banks will be the primary source of compensation for clients, and it will then be their task to make tech companies return the losses.
How this will work remains unclear, as extracting money from giants is not straightforward, and compensation processes could drag on for years. Ultimately, cardholders may suffer again.
Wether it will be the case or not, we will keep you updated on the changes! Subscribe to our Telegram channel to receive timely updates on the payment industry, and read articles and news regularly published on our website.
