17 November 2017

17th November 2017
  • Mobile/Contactless and omni-Commerce
  • ACH/Instant Payments
  • Retail/Digital banking
  • Acquiring/Processing
  • Open Banking
  • Authentication
  • Fraud/Security
  • Corporate Activity
  • DLT/Blockchain/Crypto-Currencies
  • EPC/SEPA

MOBILE/CONTACTLESS and omni-COMMERCE

Barclays is partnering with fintech start-up Flux to trial instant itemised digital receipts. http://tinyurl.com/ya2df3ee              Techcrunch http://tinyurl.com/yd4rfb9o

Barclays is trialling the technology with 10,000 customers through the bank’s Launchpad app.

Barclaycard is also involved with a trial to help merchants to issue digital receipts at POS. Flux was one of the participants in Barclays’ accelerator programme. https://www.tryflux.com/

 

The Blik mobile payment system has received permission from the Central Bank to introduce a “BLIK Payment Scheme”, making it the first non-card payment scheme in Poland. http://tinyurl.com/y82yfv2c

An update on Blik performance indicates that 62% of all transactions were for online payments with 27% relating to cash withdrawals. Blik claims 5.2 million users in Q3/17. http://tinyurl.com/ycphl5nw

 

PayPal has launched ‘Money Pools’ that enables group fundraising for a specific item or event. http://tinyurl.com/yafr2qda                   Overview and FAQs. http://tinyurl.com/y88gwmls

The service is being rolled out in 17 countries, all in Europe except US/Canada and Australia.

 

Android Pay is being rolled out in Ukraine, Czech Republic and Slovakia. http://tinyurl.com/y6wktd4v

 

Apple Pay is now being supported by N26 in Spain, Italy, and Finland. http://tinyurl.com/ybgrwfdl

 

Wirecard, after supporting the new Orange Bank in France, is now supporting the upgrade of Orange’s mobile wallet app Orange Cash in Spain. http://tinyurl.com/y7sl9tav

Similar to Orange Cash Jeune in France, the new functionality enables the use of mobile payment for teenagers up to the age of 18 under their parent’s supervision.

 

PPRO Group and Klarna are partnering to enable PSPs to offer credit-based payments through PPRO’s payment hub. http://tinyurl.com/ybttwx2w

The offer will be rolled out in Sweden, Norway, Finland, Denmark, the Netherlands, Germany, Austria, and the UK.

 

Visa is launching the Visa Ready for Transit program. http://tinyurl.com/y7sqcr2y

Visa Global Transit Solutions is aimed at accelerating the use of debit, credit and pre-paid accounts at the fare gate or card reader, to speed up and create a more convenient experience for mass transit commuters globally.

 

ACH/INSTANT PAYMENTS

The Bank of England has started the direct delivery of the CHAPS service. http://tinyurl.com/y7n9lvrh

Earlier this year the Bank, and the Financial Policy Committee, concluded that financial stability would be enhanced by moving to direct delivery.

 

IBERPAY is ready to support Spanish banks with connections to EBA CLEARING’s RT1 system. http://tinyurl.com/yda2h3ag

IBERPAY’s CICLOM platform and RT1 will go live on the SCT Inst Scheme launch date of 21 November.

 

MasterCard on Vocalink’s support for US The Clearing House real-time payment system. http://tinyurl.com/yamfacek

 

RETAIL/DIGITAL BANKING

Crédit Agricole is launching a new low-cost online banking service. http://tinyurl.com/yd9seawt

The EKO service, created to address competition from fin-techs and other online financial providers, will provide an account, debit card, mobile app and access to local branches for €2 a month.

 

Monzo is enabling holders of its new debit card to activate it by tapping on their (Android) phone. http://tinyurl.com/y96o6v6l

 

Curve has announced it is now generally available in the UK or selected European countries. http://tinyurl.com/yaqmvl4l

Users downloading the app join a waiting list ahead of the first batch of cards being shipped in December.

 

ACQUIRING/PROCESSING

Nexo article that looks at Carrefour’s Market Pay operation. http://tinyurl.com/ycr36epg

The Carrefour subsidiary combines all of Carrefour’s electronic payment systems – cards, POS terminals and online payment solutions – and centralises payment acceptance and acquisition services for all of its retail channels across 30 countries and 11,500 stores.

 

OPEN BANKING

Swedbank has launched an Open Banking platform. http://tinyurl.com/yc3p9o4q

The platform is currently being run in Beta and is limited to test data. Swedbank and the savings banks are now fintechs and to use the platform at www.swedbank.com/openbanking

 

Token and Envestnet have announced a strategic partnership to combine their expertise in PSD2-compliant payments and financial data aggregation. http://tinyurl.com/y7o9o3me

The combination of Token’s open banking platform with Envestnet’s data aggregation and data analytics platform is aimed at EU banks to enable them to generate revenue from PSD2 compliant payments and simplifies access to banks for TPPs via a universal API.

 

AUTHENTICATION

Yoti, a fintech start-up that enables users to prove their age and identity, has launched. http://tinyurl.com/yc5z9eb2

The app is being integrated with the likes of Worldpay, NSPCC and Axa Healthcare providing businesses with the ability to verify and authenticate their customers. Users download the app, take a selfie and add passport or driving licence details via the phone camera. https://www.yoti.com/

 

FRAUD/SECURITY

The FIDO Alliance has announced the launch of a FIDO Europe Working Group to accelerate the use of FIDO authentication standards in Europe. http://tinyurl.com/y7azc8zu

The Working Group is made up of 12 FIDO Alliance member companies active in the European market including Cartes Bancaires, Federal Office for Information Security (German BSI), Gemalto, Verizon Innovation and ING Group.

 

Intro to Verizon 2017 Payment Security Report available at http://tinyurl.com/y8khbnbl

The Report examines payment security and compliance with the PCI DSS and examines compliance trends and security control failures from global, regional and industry perspectives.

 

CORPORATE ACTIVITY

Ingenico Group has announced it has completed its acquisition of Bambora. http://tinyurl.com/ybdl6d7w

Ingenico sees the deal as a key part of its strategy to shift its model towards payment services and away from selling terminals to banks & acquirers.

 

Synchrony Financial is to acquire PayPal’s $5.8bn US consumer credit receivables portfolio. http://tinyurl.com/y94uwgxc

PayPal says the move will help it enhance and grow its consumer credit product offerings by working closely with Synchrony.

 

DLT/BLOCKCHAIN/CRYPTO CURRENCIES

BaFin has warned consumers about the: the risks of initial coin offerings. http://tinyurl.com/yc2b74y2

 

The EC is taking forward a study on the opportunity for and feasibility of an EU blockchain infrastructure. http://tinyurl.com/y9a9m45c

The Commission is looking at blockchain developments with the objective of setting the right conditions for an open, innovative, trustworthy, transparent, and EU law compliant data and transactional environment.

 

American Express is working with Santander to offer blockchain-enabledB2B cross-border payments via the Ripple network. http://tinyurl.com/y8ky9l66

FX International Payments (FXIP) will enable transfers between US and UK with Ripple connecting Amex customers to Santander in the UK, providing instant, trackable, cross-border payments.

 

EPC/SEPA

The EPC has issued the SEPA Instant Credit Transfer Scheme Interbank Implementation Guidelines 2017 version 1.2. http://tinyurl.com/yb3dl2tx

 

 

 

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