14 July 2017

13th July 2017
  • Mobile/Contactless and omni-Commerce
  • Fintech
  • Retail/Digital banking
  • Digital Economy
  • APIs/Open banking
  • Corporate Activity
  • Regulation

MOBILE/CONTACTLESS and omni-COMMERCE

The BRC has published its annual Payments Survey. http://tinyurl.com/yayu9ypj                                                   Report http://tinyurl.com/y7bpqznh

The Survey indicates that cards accounted for more than 50% of all retail transactions by volume. The IFR is calculated to have saved retail merchants £500m but BRC is still complaining about processing costs, particularly for credit. The BRC is asking the PSR to bring commercial cards in scope and restore the monetary cap for debit card transactions as well as take Regulatory action to address Increasing scheme fees.

 

The BRC has also said online sales of non-food products grew 10.1% in June, compared to 9.0% a year earlier.  http://tinyurl.com/y7zocdd8

Online continues to take the lion’s share of growth.

 

Worldline is to replace Govia Thameslink Railway’s existing current desktop Ticketing Issuing Services (TIS) with its Mobile Ticketing Service, @Station.  http://tinyurl.com/y74sjkgy

Implementation will begin in Q4/17 and be complete by the end of the year, providing GTR with an mPOS system that will include the ability to ‘queue bust’.

 

Stripe has announced that it is introducing global support for Alipay and WeChat Pay. http://tinyurl.com/ox4so8p

Support will be available in the 25 countries that Stripe has a presence, enabling merchants to have access to the millions of Chinese consumers that use these payment methods. Stripe is also partnering with Alipay to support recurring payments.

 

Wirecard has also announced that it is supporting WeChatPay in Europe.  http://tinyurl.com/ycdxp6v8

Wirecard will act as acquirer for those of its merchants wishing to enable purchases at POS by Chinese visitors using their QR driven app.

 

Apple Pay is to be supported by more banks in France, Italy and Spain.  http://tinyurl.com/y7jpojr6

 

PayPal is now integrating with Apple.  PayPal customers can now pay for App Store, Apple Music, iTunes and iBooks purchases across iPhone, iPad and iPod Touch devices using their PayPal account in Canada and Mexico and in the US soon. The big 5 in Europe are also amongst the 11 new markets. http://tinyurl.com/yaww63qz   http://tinyurl.com/y8gdnjgx

 

PayPal is also introducing PayPal Global Sellers, a cross-border trade service that helps SMEs increase their international presence and sales. http://tinyurl.com/y74eyq38

The offer provides a suite of tools that includes website translation, taxes/duties presentment, international shipping and return facilitation and localised payments. It is available in the US, UK and Germany.

 

Visa is launching the Visa Cashless Challenge in the US.  http://tinyurl.com/y9kxv3ze

Visa will be awarding up to $500,000 to 50 eligible US-based small business food service owners who commit to joining the 100% cashless quest!

 

FINTECH

The Bank of England has published an update on its FinTech Accelerator – results of latest round of Proofs of Concept.  http://tinyurl.com/ya2goat4

Includes work with Mindbridge  Ai, RippleEnforcd and Experimentus . The Bank says that the exercise with Ripple has reinforced the Bank’s intention to ensure its new RTGS system is compatible with DLT usage in the private sector.

 

RETAIL/DIGITAL BANKING

MasterCard has released the results of a European Digital Banking study.  http://tinyurl.com/ya8rss2o

The study looks at the levels of online banking in 11 countries.  PR contains link to infographic showing all the banks which they are supporting.

‘How Mastercard works with digital banks’ http://tinyurl.com/y8e69p4t

In the UK, although nearly 90% of account holders use online banking, only 14% say they would switch to a new digital bank.

 

DIGITAL ECONOMY

MasterCard and the Fletcher School have published the Digital Evolution Index 2017.  http://tinyurl.com/ybbpjed2   UK Version http://tinyurl.com/ya8rss2o

The research tracks the progress countries have made in developing their digital economies. Leading the pack are Singapore, the UK, New Zealand, the UAE, Estonia, Hong Kong, Japan and Israel. Report http://tinyurl.com/ybewzdmh

 

APIs/OPEN BANKING

STET is to launch PSD2 API for A2A. http://tinyurl.com/ybl4pvq9

The API will cover AISPs, PIISPs and PISPs.

 

CORPORATE ACTIVITY

Revolut has announced a $66m funding round. http://tinyurl.com/yamcean4

The funds will be used for offer enhancement, bringing its platform in-house (similar to Monzo and after bad GPS experience) and expansion into Asia and North America. Now claims 700,000 customers.

 

Reuters has reported that Ant Financial has refiled the MoneyGram deal for approval in the US. http://tinyurl.com/yacfzh3k

Apparently the original submission outlasted the 75 day completion deadline.

 

BNP Paribas has completed the acquisition of FPE, which provides the Compte-Nickel payments account.  http://tinyurl.com/yabgr6ur

The Confédération des Buralistes de France will retain a 5% stake. Compte-Nickel has a target of two million accounts by 2020.

 

REGULATION

The EBA has published its final Guidelines on authorisation and registration under PSD2. http://tinyurl.com/ydzxhdq8

The Guidelines http://tinyurl.com/ybk69bw6 give details of the documentation that needs to be submitted by applicants wishing to obtain authorisation as payment and electronic money institutions as well as to register as AISPs under PSD2.

 

The EBA has also published Final Guidelines on Professional Indemnity Insurance under PSD2. http://tinyurl.com/yabmxunv

The Guidelines cover the criteria for the minimum monetary amount of PII or comparable guarantee needed by providers of PIS and AIS services. Final Guidelines on PII under PSD2 (EBA-GL-2017-08)

 

Meanwhile Ecommerce Europe has issued a statement supporting online merchants in the debate about the EBA’s SCA RTS. http://tinyurl.com/ycqutn7x

Focussing particularly on the growth of mCommerce, the association says that “a forced application of complicated and burdensome authentication methods poses a fundamental risk to online merchants”, while protecting the Banks.

 

The CMA has approved the creation of the New Payments Systems Operator. http://tinyurl.com/y87n67yb

The PSR has, not surprisingly, welcomed the decision.  http://tinyurl.com/yc8eet3f

 

Retail payments in Europe: the benefits of good governance – Speech by Yves Mersch – looking at ERPB and it work facilitating pan-European retail payment innovation. The speech covers Instant Payments, PIS and P2P mobile. http://tinyurl.com/y6vdt4cw

 

 

 

 

 

 

 

Latest News Round-up

14 July 2017

Industry Videos

Amazon Go

A very interesting illustration of the future of retail from Amazon. Frictionless payments arrives in-store

Contact Us