15 December 2017

15th December 2017
  • Mobile/Contactless and omni-Commerce
  • Acquiring/Processing
  • Issuing
  • Fraud/Cybersecurity
  • UK Payments Infrastructure
  • DLT/Blockchain
  • Fraud/Cybersecurity
  • PSD2/Open Banking
  • Corporate Activity
  • EPC/SEPA
  • Regulation

MOBILE/CONTACTLESS and omni-COMMERCE

Wirecard have launched the Vocalink Pay by Bank app in the UK.  http://tinyurl.com/y8y9pcc4

The app is now available to all Wirecard UK online merchants who will be able to integrate the Pay by Bank app into their checkout pages. The app will also be released soon for use with the boon wallet and Pingit.

 

NatWest is introducing Face ID for mobile app login on iPhone X.  http://tinyurl.com/y7me63xj

The NatWest app will still retain the option for customers to access their accounts using a passcode. NWB says mobile transactions have increased by 73% since 2014 and that there were 3,531 log-ins per minute to its apps in Q3/17.

 

ONS Retail sales, Great Britain: November 2017. http://tinyurl.com/ybyg388o  What’s the story in online sales?

 

ABM AMRO’s Tikkie mobile payment app is being trialled in a shop environment. http://tinyurl.com/y9rkzkbu

 

The Lydia mobile payment app in France is now supporting Apple Pay.  http://tinyurl.com/y7rf73ft

 

Payoneer prepaid cards are being withdrawn from acceptance by Airbnb in France. http://tinyurl.com/y8288cu3

The move follows pressure from the French government, who suspect the cards were being used for tax avoidance when payments for bookings were paid online.

 

Adyen is integrating with the Recurly subscription management platform.  http://tinyurl.com/ya8aanfr

The integration will enable subscription businesses to accept a wide variety of international payment types.

 

Magento Commerce has announced the availability of Instant Purchase in its newest release.  http://tinyurl.com/ybsral5y

Magento says it is the first commerce platform to deliver the functionality since the Amazon 1-Click patent expired in September 2017.

 

Visa Survey in US indicates consumers looking to biometric for alternatives to passwords. http://tinyurl.com/y9yf5f4m

 

JD.Com in China is beating Amazon on unmanned stores.  http://tinyurl.com/y7jzwyk6

The major Chinese retailer plans to open hundreds of the stores across China.

 

ACQUIRING/PROCESSING

Crédit Agricole Payment Services and Wirecard have announced they have signed a letter of intent to enter into exclusive negotiations to conclude an acquiring partnership.  http://tinyurl.com/ycvfrw6c

The aim is to launch a range of cross-channel acceptance and pan-European acquiring offerings for French merchants and marketplaces in France and abroad.

 

Carrier Billing provider Dimoco has gained a payments licence from the Austrian regulators. http://tinyurl.com/ydxekbfu

 

Amex is to end the requirement for signature at POS globally from the beginning of April 2018. http://tinyurl.com/ybmfoqen

Amex states “Our fraud capabilities have advanced so that signatures are no longer necessary to fight fraud”. It says it is the first payment network to announce this change globally.

 

ISSUING

Gemalto has announced that its Trusted Service Hub (TSH) for mobile payments can now offer a single gateway enabling issuers to connect to the Mastercard and Visa tokenization services. http://tinyurl.com/y89rvdmp

Gemalto’s cloud-based solution can manage all a users digital issuance needs from a single hub.

 

MasterCard has launched a new digital platform branded Assemble in the US in a prepaid play.  http://tinyurl.com/yblue42l

Assemble is a prepaid ‘innovation hub’ with money management capabilities that issuers and partners will be able to offer to customers. The first product available, wrapped up with talk of ‘a simple, smart and safe way to manage money’ is actually a digital prepaid account with a mobile app and a payment card (virtual or physical).

 

UK PAYMENTS INFRASTRUCTURE

The Payments Strategy Forum has published its Consultation Assessment Report, its Final NPA Blueprint together with its Financial Crime, Security and Data Solutions. http://tinyurl.com/y8vj5fj6

Consultation Assessment Report   http://tinyurl.com/yce62z8b

Documentation for the Blueprint and the Financial Crime, Security and Data Solutions is available at http://tinyurl.com/y7jrzufj

The Blueprint defines a new architecture for payments in the UK based on a layered approach and underpinned by a single set of standards and rules, strong central governance and common international messaging standards.

 

The New Payment System Operator has taken over responsibility for implementation of the NPA Blueprint in its role as the single, integrated retail payment system operator for the UK.  http://tinyurl.com/yd42aek8

The NPSO is now in the process of assessing the Blueprint to define the technical requirements for the NPA, determine whether further investigatory work is needed for specific elements and validate the best approach to move forwards with delivery.

 

The PSR has set out a decision on provisional conclusions and proposals to change the Bacs direct debit rules relating to the switching of facilities management (FM) providers.  http://tinyurl.com/y8q26d2e   Decision Document.  http://tinyurl.com/ybon7ftq

Following the consultation document issued earlier in the year that addressed concerns about potential impediments to switching DD ‘facilities management’ (FM) service providers,  the PSR is now making use of the Bacs bulk change process mandatory. BPSL is currently making changes to the Bacs scheme rules.

 

Which! has written an open letter to the FCA expressing its concerns about the future of the LINK scheme.   http://tinyurl.com/ybw77krv  Letter http://tinyurl.com/ycgflccf  PSR Response http://tinyurl.com/ybf8ccev

Which? is calling for the Payment Systems Regulator to conduct an urgent market review to fully evaluate the impact the proposed changes could have on consumers. The PSR says it is important for LINK to consider whether its interchange fees encourage an ATM system that meets the needs of and provides value for money for consumers and threatens regulatory action if the outcome of the review is not satisfactory.

 

DLT/BLOCKCHAIN

The FCA has published feedback on its Discussion Paper on Distributed Ledger Technology.  http://tinyurl.com/y78txyxq  Feedback Statement http://tinyurl.com/yczwhn3u

The FCA says that, based on the feedback received and its own work, overall it is open to all forms of deployment of provided the operational risks are properly identified and mitigated. Meanwhile, while continuing to monitor DLT-related market developments, the FCA will gather further evidence and conduct a deeper examination of the developments in the Initial Coin Offering (ICO) market.

 

FRAUD/CYBERSECURITY

The Banking Protocol sees the UK finance industry, police and trading standards working together to tackle fraud. http://tinyurl.com/y8vj25w6

The Scheme is being rolled out nationwide with more than £9m of potential fraud stopped in its first year.

 

PSD2/OPEN BANKING

Nets and OpenWay have published a White paper on Monetization of PSD2 and Open Banking.  http://tinyurl.com/y6uglehv  Paper http://tinyurl.com/y8wfrfbr

The paper explores stakeholder opportunities in open banking and addresses key business challenges presented by shifting consumer mentalities and expectations. It also highlights the conventional and emerging monetization drivers relevant to PISPs, AISPs and ASPSPs.

 

Nordea says its Open Banking platform is now live.  http://tinyurl.com/yadrjnml

Nordea is starting a piloting period in which selected third parties will build applications on top of the APIs and, together with pilot customers in Finland, they will confirm that all aspects of the Open Banking solution work as expected.

 

The FCA has published their PSD2/Open Banking customer comms messages on their website: http://tinyurl.com/yc9pnfqp

FCA hope “the messages will help to promote consistency of communication to customers across different parts of the industry” and “the FCA has made it clear that any subsequently developed industry or individual member messages will need to be consistent with their customer messaging although there is no expectation that wording needs to be identical

 

CORPORATE ACTIVITY

Atos has made a move to acquire Gemalto. http://tinyurl.com/y9omq4qo

Atos has made a formal proposal by way of a public offer and invited Gemalto’s Board of Directors to engage discussions. The deal values Gemalto at c€4.3bn and is aimed at creating a leading Group in cybersecurity technologies and digital services.

 

Gemalto subsequently rejected the Atos approach with a strong response saying the bid significantly undervalues Gemalto, lacks a compelling strategy and is generally unwelcome. http://tinyurl.com/ybgqhfrn

Atos has gone back with the message that the offer remains alive indicating it has received strong support from the financial markets, investors and the analyst community. http://tinyurl.com/yc7ktqw9

 

iZettle has raised €40m in a further funding round.   http://tinyurl.com/yakpq4sm

The funds will be used to accelerate its growth strategy and product innovation. A Swedish publication has suggested a $948m valuation.

 

EPC/SEPA

The EPC has published Guidelines on cryptographic algorithms usage and key management. http://tinyurl.com/y92qm543

The document provides guidance to the European banking industry in the field of cryptographic algorithms and related key management issues. For techies.

 

REGULATION

The European Banking Authority has published its final draft RTS and ITS on the EBA electronic central register under PSD2. http://tinyurl.com/yde928af

The aim of the EBA Register is to provide transparency on the operation of payment and e-money institutions across the EU, enhance cooperation between competent authorities in the Member States and ensure a high level of consumer protection.

 

The FCA has published an update on proposed new rules to help credit card customers in persistent debt.  http://tinyurl.com/yd554oh3     Web page  http://tinyurl.com/yabrawa3                                                      Consultation document http://tinyurl.com/ybw4tuys

The FCA expects that the savings will peak in the first few years of the proposed rules being in place, at between £310m and £1.3bn per year, . The FCA is now seeking further views before finalising its proposals.

 

 

 

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