19 January 2018

19th January 2018
  • Mobile/Contactless and omni-Commerce
  • ACH/Instant Payments
  • Biometrics
  • Acquiring/Processing
  • Issuing (VAS)
  • Digital/Retail Banking
  • UK Payments Infrastructure
  • ATMs (LINK)
  • PSD2/Open Banking
  • Corporate Activity
  • Blockchain/DLT/Cryptocurrencies
  • Regulation

MOBILE/CONTACTLESS and omni-COMMERCE

BRC on changing consumer behaviour at Christmas. http://tinyurl.com/ycb3deg2

 

Visa Vision on a Cashless Sweden. http://tinyurl.com/y9graugr

 

G+D Mobile Security is supporting Rabobank as it migrates its existing SIM-based mobile payment solution to a cloud-based app.  http://tinyurl.com/yc2luq93

The Rabo Wallet app is available for Android smart phones and supports Mastercard Maestro cards. Its functionality also enables parking and customer shop and loyalty card storage.

 

Ingenico is working with NAVYA to integrate a connected screen enabling payments on board the Autonom Cab.  http://tinyurl.com/ybxr3nw7

NAVYA operates in the autonomous vehicle market and has developed the first robo-taxi on the market in France.

 

Visa has announced that its suite of sensory branding that was flagged in December is now available as a pilot program. http://tinyurl.com/y9jmz7cg

Covering approximately 60% of the US POS terminal market, manufacturers Equinox Payments, Ingenico, Poynt, and Verifone will be working with Visa to pilot sensory branding with merchant partners in the coming year.

 

Visa, alongside most of the other ICS, is making the signature requirement optional for all EMV contact or contactless chip-enabled merchants in North America from April 2018. http://tinyurl.com/yaye2guu

 

ACH/INSTANT PAYMENTS

BPCE (which includes the Banque Populaire and Caisse d’Epargne networks), is joining the SCT Inst scheme. http://tinyurl.com/ybnvrcal

Most BPCE banks will be able to support SCT Inst-based services by April 2018.  More than 1,000 PSPs from twelve countries are now supporting the scheme.

 

BIOMETRICS

Visa, following the Gemalto announcement regarding testing of a new biometric card, has announced its involvement in the trial plus another in the US. http://tinyurl.com/ybcdgvso

 

ACQUIRING/PROCESSING, etc

The Verifone gateways in the UK and France have suffered outages.  http://tinyurl.com/yaaxl2sw

A statement from Verifone said: ‘Earlier today, we experienced a service outage that affected connectivity to our Wynid gateway in France, and Ocius gateway in the UK. Services are now back to normal, and both data centres are now receiving transactions’.

 

PPRO Group has become a direct acquirer for Bancontact. http://tinyurl.com/ydfpxbqd

 

Swedbank has renewed its agreement with EVRY for the delivery of solutions for core banking and payment solutions.  http://tinyurl.com/y9zzbtzx

The agreement relates to Swedbank’s business activities in Norway.

 

ISSUING (VAS)

Visa is partnering with DragonPass to launch a new ‘Airport Companion Programme’. http://tinyurl.com/ybd9u8s4

The programme is now available to financial institutions throughout Europe, enabling them to provide their customers with a range of exclusive services to enhance the airport travel experience for their Visa cardholders.

 

DIGITAL/RETAIL BANKING

Metro Bank has launched instant online account opening for its current account using ‘selfie’ technology. http://tinyurl.com/ycbay2y2

ID documents, along with a selfie, are uploaded directly onto the app. With verification and authentication taking place in real-time, accounts can be opened in less than 10 minutes, including setting-up internet banking.

 

Revolut is introducing a new travel insurance offer driven by geolocation technology. http://tinyurl.com/y8cjj5zm  https://www.revolut.com/travel-insurance

The technology pinpoints the user’s location and automatically turns on the ‘Pay-per-day’ insurance cover when outside their home country.

 

Curve has now launched to consumers in the UK.  http://tinyurl.com/yd5lr4p8

Apparently there is a waiting list of 50,000 plus 100,000+ users who joined in Curve’s beta phase.

 

Monzo has confirmed it will be shutting down the prepaid Mastercard programme in early April, enabling all customers to move to a fully upgraded current account.  http://tinyurl.com/y7b6tlbz

Over 200,000 prepaid users have already upgraded. The card will cease to be usable from April.

 

Erste Bank is rolling out its George digital banking platform in Slovakia. http://tinyurl.com/y6u3w87h

With nearly 2m customers claimed in Austria and the Czech Republic, Erste aims to introduce the platform in all of its seven markets (Austria, Czech Republic, Slovakia, Romania, Hungary, Croatia and Serbia). George has an open, API-based architecture and plug-in infrastructure that makes it customisable and flexible.

 

UK PAYMENTS INFRASTRUCTURE

The PSR has written an Open Letter to the NPSO.  http://tinyurl.com/y9j7z5sh                                           Letter http://tinyurl.com/y8vfa33y

The letter sets out the PSR’s initial priorities for the NPSO to consider as it develops its target operating model and plans for the design and delivery of the New Payments Architecture.

 

Vocalink – Enabling a match fit economy. http://tinyurl.com/y868395w

The paper aims to highlight the capability for innovation within the UK’s payments system and the ability to develop a match fit economy in a post-Brexit setting.

 

ATMs (LINK)

The PSR has responded to concerns raised in previous correspondence with the Treasury Select Committee, regarding the LINK ATM network and proposed changes to the LINK interchange rate.

The PSR has sent a letter to the Committee Chair that iterates the previous statement that it will intervene if the LINK decision is against consumer interests.  http://tinyurl.com/ybymzwns

 

In addition the PSR has published a new webpage  on the UK’s ATM network and two independent impact studies:

Europe Economics: “ATM impact study: Summary findings”  and Regulatory Economics: “Exploratory analysis of the prospects for, and potential impacts of, ATM scheme competition”

 

PSD2/OPEN BANKING

The FCA has updated a large number of pages on its website post the PSD2 13 January go-live date. e.g. Electronic money and payment institutions

 

The OBIE on the managed roll out of Open Banking.  http://tinyurl.com/y8ou4hf5

The next six weeks will be spent testing the new systems with consumers and SMEs able to start using any new services being offered in March.

 

The OBIE has chosen Contego, a compliance specialist, to help verify users of the new ecosystem. http://tinyurl.com/y7tevvtq

Contego will support Open Banking’s identity-proofing and verification processes via its fully automated identity verification platform.

 

The EC has published a short notice on the go live of PSD2.  http://tinyurl.com/yatvfno3  together with 27 PSD2 FAQs in the form of a fact sheet. http://tinyurl.com/hmnqqjx

 

Following adoption of the RTS on separation of Schemes from Processing last October, the Council and European Parliament scrutinised the Regulation. No further changes were required and the Commission have now published the RTS establishing the requirements to ensure functional independence of payment card schemes and processing entities. These enter into force on 7 February 2018. http://tinyurl.com/y7zyoctc

 

The EBA has published a new webpage with links to the national registers of authorised or registered payment and e-money institutions (PIs and EMIs) under PSD 2 for those Member States that have provided the information. http://tinyurl.com/y9a629md

 

Speech by the Deputy Governor of the Spanish Central Bank on the impacts of PSD2http://tinyurl.com/ybdskehw

Effectively warns consumers they need to be careful when jumping into relationships with TPPs and thus it is incumbent on the banks to educate them.

 

Starling Bank explainer http://tinyurl.com/y8k5skou

 

Emma Technologies, a fintech start up that is building a ‘banking app for millennials’, has been granted a licence by the FCA as an AISP.    http://tinyurl.com/y7j5k2yh

There are 11 AISPs already at the starting gate.

 

Worldline on PSD2 – a goldmine of opportunities. http://tinyurl.com/yb9kgxmp

 

Envestnet | Yodlee is also supporting Open Banking with a single API solution aligned with PSD2 and Open Banking API specifications in the UK for account information services. http://tinyurl.com/y8fueoxc

Claiming to be first to market, Envestnet | Yodlee has built a robust consent architecture to provide developers with easy and compliant integration.  No doubt there will be much more of this over the coming months.

 

CORPORATE ACTIVITY

Vantiv has completed its acquisition of Worldpay. http://tinyurl.com/y7d5bj88

The new combined entity will have a payment volume of US$1.5 trillion (£1.1 trillion), processing more than 40bn transactions annually through more than 300 payment types across 146 countries and 126 currencies. It will have a pro forma enterprise value of $31 billion (£23 billion).

 

Heidelpay Payment has announced the acquisition of Austrian PSP mPAY24.  http://tinyurl.com/y8suo6sb

mPAY24 supports 2,000 merchants. Its acquisition follows that of StarTec recently, increasing Heidelpay’s ability to make a full omni-channel offer.  https://www.mpay24.com/web/en/

 

Ingenico is to acquire NZ payments network Paymark for NZ $190m (cUS $139m). http://tinyurl.com/y6vtcwdc

The deal builds on Ingenico’s acquisition of Bambora to create an omnichannel payments offering for the Pacific region.

 

BLOCKCHAIN/DLT/CRYPTOCURRENCIES

A Director of the Bundesbank has said regulation of cryptocurrencies must be on a global rather than national basis.  http://tinyurl.com/y8fczdzj

 

REGULATION

SafeCharge UK subsidiary, SafeCharge Financial Services Limited, has been authorised by the FCA as a Payment Institution. http://tinyurl.com/ycqo9j2b

This is presumably a post-Brexit play as Safecharge is already an EMI, authorised and regulated by the Central Bank of Cyprus.

 

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