18 May 2018

18th May 2018
  • Mobile/Contactless and omni-Commerce
  • Acquiring/Processing
  • Digital/Retail banking
  • ATMs (Link)
  • Instant Payments
  • Fraud/Security
  • Open Banking/PSD2
  • Fintech
  • Blockchain/DLT/Cryptocurrencies
  • Corporate Activity

MOBILE/CONTACTLESS and omni-COMMERCE

Visa’s UK Consumer Spending Index for April shows Consumer spending falling further amid weak high street performance. http://tinyurl.com/y9wqtpzo

and BRC on April footfall http://tinyurl.com/ycv95226

 

Barclaycard says online retailers are behind the curve on payment methods.  http://tinyurl.com/y7l9nqqj

A survey indicates 72% of retailers haven’t introduced any new payment technology to their website in the last two years.

96% of retailers who have introduced new payment technology say this has enhanced the online experience for their customers and 64% say payment processing is faster.

 

Apple Pay now being supported by Monzo.  http://tinyurl.com/y8lphrs5

Techcrunch on why it has taken Monzo so long. http://tinyurl.com/y9tquucr

 

McDonald’s in the UK and Ireland has selected Ingenico Group to handle its cashless transactions for the next five years. http://tinyurl.com/yddxp9v8

 

Jisp, a UK start-up, is to introduce a simple ’tap and go’ system for retailers. http://tinyurl.com/ydhcj2r9    https://www.jisp.com

Uses Bluetooth beacon/barcode technology to transfer product price and details to customer’s phone who confirms payment at the end of their shop with a ‘touch and go’ feature linked to a payment card. Jisp is already working with brands such as JD Sports, Jack Wills and Hotel Chocolat and says its technology is three to four times faster than the current scan services offered by supermarkets.

 

Mail.Ru has developed a P2P Money Transfer Service for MasterCard in Russia. http://tinyurl.com/ycd6crgd

Users link their Mastercard/Maestro or Visa card to a phone number, email account or social network account and can make transfers via online banking platforms.

Meanwhile a QR app is being developed by the FinTech Association under the control of the Bank of Russia that will be integrated into the national express payment system.   http://tinyurl.com/y86cfhub

The QR code option is supposed to become an alternative to the over-the-phone money transfers.

 

Amazon is reported by The Seattle Times as preparing to launch Amazon Go stores in Chicago and San Francisco.   http://tinyurl.com/ycganqhr

This marks the first expansion of the online retailer’s cashierless grocery store concept.

 

Walmart meanwhile has ended its similar type offer ‘Scan & Go’ due to lack of customer take-up. http://tinyurl.com/ycmttnqm

Walmart had introduced the concept after a successful trial in its Sam’s Club warehouse chain but it has not taken off in the main business. The service will be retained at Sam’s Club while Walmart trials a mPOS based system.

 

ACQUIRING/PROCESSING

Sixt is integrating with the Computop Paygate payment platform.  http://tinyurl.com/y7obaof8

Computop will be the single multi-channel and cross-border provider for customer payments from online shops, POS terminals in branches and MOTO.

 

Stripe and JCB have announced the signing of a MOU for a global partnership to give JCB brand acceptance at all internet merchants using the Stripe payment platform. http://tinyurl.com/y83yy9sh

 

SafeCharge has announced it is supporting Danske Spil A/S, the national lottery in Denmark, to power its regulated sports betting platform “Youbet”. http://tinyurl.com/yanx3uv2

Danske Spil has implemented SafeCharge Cashier, a hosted payment page solution optimised for maximum conversion of deposit and withdrawals.

 

3C Payment has announced the roll out of a pan-European integrated payment solution with WHSmith. http://tinyurl.com/ybq8btrj

The cross-border solution, which is integrated with Aptos POS software, has been rolled out at airport sites across Spain, Germany and Italy.

 

DIGITAL/RETAIL BANKING

HSBC‘s Connected Money app registered 13,000 downloads within a day of its launch last week Reuters reports. http://tinyurl.com/y7plwd5s

 

Santander is working on plans to launch a stand-alone digital bank in the UK. http://tinyurl.com/ybju2exn

Santander is also considering launching its digital lending offer Openbank that it operates in Spain and has 1.3m customers.

 

ATMs (LINK)

The PSR has published a report on the Scottish Free-to-Use ATM Network (Report by Europe Economics). Report http://tinyurl.com/ybzjp24k

 

A Scottish MP has introduced a Bill at Westminster to control ATM Charges.

Motion for leave to bring in a Bill http://tinyurl.com/y7x3uh28 Bill Details http://tinyurl.com/yd59njty

 

INSTANT PAYMENTS

ACI Worldwide, KPMG and Vocalink have published a new study – Real-Time Payments: Value Realization is Here. http://tinyurl.com/y8nupfux Study http://tinyurl.com/ybl9w2g8

The study predicts that combined with other digital and payment trends such as mobile wallets, open banking and modern data standards, the possibilities for value realization in the new real-time banking ecosystem abound.

 

FRAUD/SECURITY

ThreatMetrix has published its European Cybercrime Report for Q1/18. http://tinyurl.com/y9wpu62r

ThreatMetrix’s data shows a 30%t year-on-year increase in the volume of cyberattacks hitting Europe in Q1/18.

 

OPEN BANKING/PSD2

HSBC UK has created the first live use case of open banking for credit applications using the InterConnect platform from Equifax. http://tinyurl.com/y9ubd4s4

The Equifax platform collates consumer current account transaction information from its third party fintech partners, classified according to FCA guideline categories: committed spend, basic quality of living, essential spend, and discretionary spend. The information provides the bank with a fast and informed view of a customer’s affordability, facilitating faster lending decisions.

 

STET has released version 1.3 of its PSD2 API.  http://tinyurl.com/y96u4fle

The new release provides enhancements that: Comply with the new RTS for SCA; Take into account Change Requests that have been addressed to STET; Include the convergence work that has been initiated with the BERLIN GROUP XS2A API and the standardisation works done with the SWIFT ISO20022 Team.

 

FINTECH

Efma and Capgemini today announced the launch of FinTechVisor, a platform designed to bring FinTechs and Financial Institutions together to collaborate. The portal offers a world-wide networking and collaborative community to support collaborative innovation.

 

BLOCKCHAIN/DLT/CRYPTOCURRENCIES

The ECB’s Yves Mersch delivers another No, No to virtual currencies.  http://tinyurl.com/ycebg7jk

 

Federal Reserve Bank of San Francisco –   Cryptocurrencies, Digital Currencies, and Distributed Ledger Technologies:What Are We Learning? http://tinyurl.com/yb4e68k4

Views Cryptocurrencies as being innovative but also posing challenges. Does not see Central Bank digital currencies as being an answer. However, digital tokens for wholesale payments and some aspects of distributed ledger technology may hold promise for strengthening traditional financial instruments and markets.

 

Meanwhile crypto finance company Circle has raised $110m valuing it at $3bn.      http://tinyurl.com/yahrpvrq

The investment round was led by Bitmain, a major Chinese cryptocurrency mining player. At the same time Circle has announced the launch of a US dollar coin, USDC, which will be pegged to the $ and is seen as enabling mainstream adoption of blockchain technology for payments.

 

CORPORATE ACTIVITY

PayPal has agreed to acquire iZettle for $2.2bn.  http://tinyurl.com/y8wu47yh  Presentation http://tinyurl.com/yc8owbsg

The Company says the acquisition significantly expands PayPal’s in-store presence, strengthening PayPal’s platform to help millions of small businesses around the world grow and thrive in an omnichannel retail environment.

 

Worldline has announced it is to acquire SIX Payment Services. http://tinyurl.com/ycqxlw26  Presentation http://tinyurl.com/yb9at7fz

The deal is valued at €2.3bn (CHF 2.75bn) and will give SIX a 27% shareholding in Worldline with Atos retaining a majority stake of 51%.

Worldline says the deal will increase Revenue by >30% with the merchant services business up >65% and will drive a major rebalancing of Worldline’s European geography.

 

Danske Bank has invested in Danish-based Spiir that provides a budget management platform.  http://tinyurl.com/y77ondur

The investment (no precise figure quoted other than ‘millions’) gives access to Spiir’s technical platform, which includes data retrieval from other Nordic banks and API expertise. Spiir is also developing a Nordic API Gateway, which will make it easy for third parties to build new smart customer solutions.

 

Latest News Round-up

22 June 2018

Industry Videos

DNB to revolutionise international identification

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.

Contact Us