BRC – KPMG Retail Sales Monitor for September. http://tinyurl.com/y8flbaxe
Online sales of Non-Food products grew 10.7%.
Mastercard has announced new campaign to encourage use of wallets and its contactless cards and in London. http://tinyurl.com/yd6634vg
It will donate one school meal for every pay as you go journey made on TfL and National Rail Services in London using a contactless Mastercard, or a Mastercard loaded into Apple Pay, Android Pay or Samsung Pay. Starts 16 October for three weeks.
In Research by IMRG 23% of survey respondents said they would provide personal information for access to 1-click checkout facilities.
However, up to 60% said they would not feel comfortable sharing data at all. Full blog http://tinyurl.com/ycygkvs3
Danske Bank has confirmed it is to cease supporting its MobilePay app in Norway and offer Nordea’s Vipps service. http://tinyurl.com/y7byfau5
The move was originally flagged by Nets in September. http://tinyurl.com/yahtf8ma
Mastercard and Carrefour are to launch a ‘Scan&Go’ service in Poland. http://tinyurl.com/yctcjpew
The addition to the “My Carrefour” mobile app will enable self-service product scanning as well as in-app payments with Masterpass alongside the original loyalty function. The conclusion of a successful Pilot is to be followed by a phased launch. The objective is to reduce queuing at POS, although the app still gives users a choice of paying with card or cash as well as Masterpass.
Fortumo and A1 Telekom Austria are launching a direct carrier billing offer. http://tinyurl.com/n3oprcd
MasterCard subsidiary Applied Predictive Technologies along with the EIU has published a report:
“Bricks-and-Mortar Retailers Fight Back: Winning Strategies to Compete with Online-Only Players.” http://tinyurl.com/yd7cvz9l
The report looks at fightback actions and proposes five key strategies that bricks-and-mortar retailers should adopt in the face of e-commerce competition. Includes infographic on ‘Store of the future’.
Pinterest plans to introduce more ways for users to shop through the app. http://tinyurl.com/ybtblf7h
The platform currently includes ‘Buyable Pins’, but intends to offer a ‘shop the look’ functionality, which allows users to click on an image to find out what the product is and visit the retailer’s website.
Visa has published the results of a study examining the economic impact of increasing the use of digital payments in major cities globally. http://tinyurl.com/yczf595f Interactive map http://tinyurl.com/yczvaf9g
“Cashless Cities: Realizing the Benefits of Digital Payments”. http://tinyurl.com/y93xq9vy
The study estimates that increasing digital payments across the 100 cities could result in total direct net benefits of US$470bn billion per year.
There is a technical appendix available at http://tinyurl.com/y8ww79cb
Monzo has announced that it is to invite all existing Monzo users to upgrade to a current account. http://tinyurl.com/ycd53mz6
New signups to the prepaid Monzo Mastercard Debit card will stop and existing users will be invited to upgrade from prepaid cards to full current accounts.
TSB Bank has signed a five-year ATM Services Contract with NCR. http://tinyurl.com/ybxt959g
The contract covers remote ATM Monitoring, Incident Management and Help Desk support together with Second Line Maintenance.
Xero is launching machine learning automation to improve coding accuracy. http://tinyurl.com/y828trcp
Bills is the second-most commonly used feature of Xero but it has the second-highest rate of defaults. The new artificial intelligence system will consider each individual business’s characteristics, then recommend account codes based on what it has learned.
The UK Government is planning to spend £80m on the introduction of smart ticketing. http://tinyurl.com/ydd4ogct
Using barcode technology, rail users will have the choice of travelling without a paper ticket by the end of 2018. A pilot is expected in the next 4 months.
Faster Payments is seeking Expressions of Interest for the renewal and management of its infrastructure. http://tinyurl.com/yc7l974j
The EoI is the first of a three phase competition to choose the required infrastructure renewal provider. The aim is to make it easier to FPS, improve operational efficiency and further minimise the risk of cyber-attacks.
CHAPS in its ‘Market Forecasts 2017’ predicts that following a period of adjustment post-Brexit, CHAPS volumes will recover in line with the UK and global economy, and with international trade. http://tinyurl.com/ya3xnqvz Report http://tinyurl.com/y73q9kvf
The CHAPS Market Forecasts 2017 looks into the future growth in usage of CHAPS and how this will be influenced by current and forthcoming economic and industry developments.
Testing is currently under way by those connecting to the new platform.
SWIFT has announced that its SWIFTNet Instant solution will give access to RT1. http://tinyurl.com/yc2mgqlc
The solution is designed to work anywhere in Europe and around the world, enabling SWIFT customers to connect to multiple instant payment clearing and settlement mechanisms.
ACI Worldwide has launched its UP Real-Time Payments Solution. http://tinyurl.com/y8k7336x
The solution enables FIs to address their RTGS, SWIFT messaging and real-time payments needs with a single, universal offering that combines ACI’s Money Transfer System and its real-time processing solution UP Immediate Payments.
ACI Worldwide is also partnering with STET to deliver the solution to PSPs across Europe. http://tinyurl.com/y7mu7wtg
The partnership aims to deliver to banks a seamless end-to-end solution for SCT Inst.
The Danish payment landscape: When instant becomes the new normal. http://tinyurl.com/yczhrz8b
An interview with Kristian Ring, Head of Department at Finance Denmark.
CapGemini has published its World Payments Report 2017. http://tinyurl.com/pt9dbb7
Covers World Non-Cash transaction volume analysis; Non-Cash markets and trends; Regulation and industry initiatives; The new payments ecosystem.
Paysafe is launching Turnkey, a new payments solution for software platforms and marketplaces. http://tinyurl.com/y9j4gyty
Those adopting the solution will integrate an API suite into their current software infrastructure. Turnkey provides real-time on boarding for customers.
Bank of England – Speech: The Bank of England’s FinTech Accelerator: what have we done and what have we learned? http://tinyurl.com/ycgbkefn
Andrew Hauser, Executive Director for Banking, Payments and Financial Resilience, reflects on the work of the Bank of England’s FinTech Accelerator since its launch in June 2016.
SIA has launched “SIAchain”, based on blockchain technology. http://tinyurl.com/ycgjkax2
The new platform is aimed at supporting financial institutions, corporates and public administration bodies in developing and implementing innovative applications based on blockchain technology.
Fujitsu is to conduct a Blockchain field trial of a P2P service. http://tinyurl.com/ybo7bj7x
With three Japanese banks, Fujitsu will trial a mobile app that will use a cloud-based blockchain platform that enables money transfers between individuals.
Ripple says that it now has more than 100 financial institutions as members of its enterprise blockchain network. http://tinyurl.com/ybjdghs7
RippleNet members are adopting blockchain commercially to provide their customers with instant, on-demand and low-cost global payments services.
Russia has reversed its recent positive leanings towards bitcoin with President Putin now saying they are risky. http://tinyurl.com/y9s62nlm
The Central Bank has indicated it will block websites selling cryptocurrencies.
The EC has carried out raids on suspicion of anti-competitive practices over fintech access. http://tinyurl.com/yb4ub2ot
Two known countries where raids have taken place are Poland and the Netherlands..
The EC has called for the completion of all parts of the Banking Union by 2018. http://tinyurl.com/yb4nqjsw
The Commission has published a Communication that sets out a path to ensure agreement on all the outstanding elements of the Banking Union, based on existing commitments by the Council. Questions and answers Factsheet: Completing the Banking Union Communication on completing the Banking Union
The NPSO has announced the formation of its new Board. http://tinyurl.com/yamg4qyw
Four further members will be added to the existing five in the coming months.
In the US the Independent Community Bankers of America (ICBA) has called on the Federal Deposit Insurance Corp. to deny Square Financial Services’ federal deposit-insurance application. http://tinyurl.com/yamezk3o
Cries of unfair competition and need to preserve level playing field. Granting Square an ILC charter would allow it to engage in both banking and commercial activities without being subject to consolidated supervision.
DNB is working on technology that makes it possible to identify clients with just a mobile phone and a passport. The bank combines technology in the phone and data stored in the biometrical passport with its own systems. An important focus of the project is the customer experience and to resolve challenges related to international identification.