Santander launches money transfer app in UK to fend off competition from fintechs

MADRID (Reuters) - Santander on Thursday launched a money service app in the United Kingdom that will initially be free of fees for transfers of up to 3,000 pounds ($3,740) due to the coronavirus pandemic as lenders try to fend off competition from start-ups in the payments industry.Santander said its completely owned PagoFX, a low-cost international money transfer service, would be available via a mobile app and allow UK residents with a debit card issued by any UK bank or financial entity to..