12 January 2018

12th January 2018
  • Mobile/Contactless and omni-Commerce
  • ACH/Instant Payments
  • Acquiring/Processing
  • Digital/Retail Banking
  • Biometrics
  • Blockchain/DLT/Cryptocurrencies
  • Fintech
  • PSD2/Open Banking
  • Corporate Activity

MOBILE/CONTACTLESS and omni-COMMERCE

MasterCard’s SpendingPulse indicates UK holiday retail sales increased 2.2% in December yoy. http://tinyurl.com/yblyqppq

e-Commerce spending grew by 11.5% y-o-y.

 

Visa’s UK Consumer Spending Index for December indicates household expenditure fell by -1%, http://tinyurl.com/ycoff9ee

e-Commerce spending grew by 2% for the month.

 

ACI Worldwide is extending its partnership with Klarna, integrating Klarna’s payment products with ACI’s UP eCommerce Payments solution. http://tinyurl.com/y87om68s

The solution is becoming available in the U.S, UK, Norway, Sweden, Finland, Denmark, Germany, Austria, and the Netherlands.

 

ACI Worldwide has also announced that its UP Merchant Payments solution is available in the cloud. http://tinyurl.com/ybdpvckn

 

ABN AMRO is trialling a range of wearables with 500 customers.   http://tinyurl.com/y849ytso

Participants will be able to make contactless payments with a ring, watch, bracelet or keyring linked to their current account.

 

TROY has launched a mobile solution using contactless payment technology in Turkey. http://tinyurl.com/yaoqtk5l

The mobile solution is currently available on NFC-enabled Android devices and contactless POS devices with other devices to come.

 

Mastercard is working with HERE Technologies to create more connected experiences for people on the move and ‘ take friction out of an increasingly mobile world and shape the next generation of connected vehicle services’. http://tinyurl.com/y9jrzudj

 

Visa, in a similar development, is working with Gentex on in-Car fuel purchase. http://tinyurl.com/yagva4jd.

 

ACH/INSTANT PAYMENTS

BACS has broken previous volume and value records.   http://tinyurl.com/y7r5am2u

BACS processed over 6.34bn payments with a value in excess of £4.9trn in 2017. Direct Debit volumes grew by 3.8% and Direct Credit by 3%.

 

SIA is providing RT1 access support to the Lithuanian Central Bank. http://tinyurl.com/yaegnw9v

 

ACQUIRING/PROCESSING

Worldpay is partnering with iyzico to extend its payment services into Turkey.  http://tinyurl.com/y7sfpyz9

Apart from standard ICS the partnership supports Troy and local instalment payment options. iyzico claims to be the fastest growing PSP in Eastern Europe and Turkey with TRY3.1bn annual transactions and 300,000 merchant accounts.

 

DIGITAL/RETAIL BANKING

Monzo sets out ambitious development plans for the year ahead.  http://tinyurl.com/y892d7o8

If achieved, Monzon will have a significantly enhanced offer by the year end including ending it prepaid programme and offering overdrafts, CASS membership and enhancing it Pots saving function.

 

Tandem has been granted a banking licence as it takes over Harrods Bank. http://tinyurl.com/ybhym3f2

The deal more than doubles Tandems customer base to 21,000.

 

BIOMETRICS

JCB is to start testing multipurpose Biometric Authentication.  http://tinyurl.com/y7hyd8g9

In collaboration with Universal Robot Co and Japan’s National Institute of Advanced Industrial Science and Technology, JCB HQ staff are to trial UR’s visible light palm authentication that uses both palm print and vein patterns and is said to give the highest known level of accuracy.

 

BLOCKCHAIN/DLT/CRYPTOCURRENCIES

Ripple is partnering with MoneyGram to pilot its XRP blockchain solution in their payment flows.  http://tinyurl.com/yarj2c4t

Both companies will also explore MoneyGram’s integration into Ripple’s ecosystem through xVia. The move will enable MoneyGram to understand how blockchain technology and XRP can improve the efficiency of their global treasury operations and consumer experience.

 

FINTECH

UK Tech Investment had a record year in  2017.  http://tinyurl.com/yczgd6kz

UK firms attracted £2.99bn of investment – almost double the total amount invested in 2016 (£1.63bn) – with over 90% going to London.

 

PSD2/OPEN BANKING

The Open Banking Implementation Entity has updated its Guidelines for Read/Write Participants to provide additional guidance to Participants operating within the Open Banking Ecosystem from 13 January 2018.  http://tinyurl.com/ycsqfg7v

 

Meanwhile articles on OB have started to flow. Guardian http://tinyurl.com/y89nynv8

Reuters reports a ‘slow burn’ payments revolution.  http://tinyurl.com/ychgns7x

CallCredit says that there will be a two-speed environment of those that get it and those that don’t.  http://tinyurl.com/y9f9o77x

 

CORPORATE ACTIVITY

Gemalto and Thales have posted an update on progress regarding the intended offer by Thales for Gemalto. http://tinyurl.com/ydexj2wn

The update says the companies are making good progress on the preparation for the Offer and that the transaction is expected to close in H2/18 after regulatory approval.

 

Industry Videos

Central 1, a Canadian credit union, is trialling an authenticated Voice Banking Service using Amazon Alexa.

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