2 March 2018

2nd March 2018
  • Mobile/Contactless and omni-Commerce
  • Digital/Retail Banking
  • ACH
  • ATMs (LINK)
  • Fintechs/Innovation
  • Fraud/Security
  • Remittances
  • Blockchain/DLT/ Cryptocurrencies
  • GDPR
  • APIs/Open Banking
  • Regulation


Santander UK, via its merchant acquiring partner Elavon, is to support acceptance of China Unionpay cards and other Chinese payment types.  http://tinyurl.com/y97colht

Customers will be able to accept payments online shortly with Elavon planning to expand this functionality across its full suite of POS solutions, which already accept UnionPay, by end of the year.


Barclaycard has developed a Qkr! type solution – ‘Dine & Dash’ – that bypasses payment at POS/mPOS in restaurants. http://tinyurl.com/y8ou4gy4

A consumer trial is to go ahead at high-street chain Prezzo. Dine & Dash works in 3 easy steps:  Users tap the Dine & Dash totem with their phone to ‘check in’ at  table and simply leave after finishing meal with the totem on the table changing colour to show successful payment has been made.


MasterCard has announced that Pizza Hut is now rolling out Qkr! to all its UK restaurants. http://tinyurl.com/ybgwvjmk

Other chains offering Qkr include wagamama, ASK Italian, Young’s Pubs, Zizzi, Byron, Bird, and gastropub chain New World Trading.


KBC is integrating non-banking apps into its Mobile app. http://tinyurl.com/ydeg4xdr

Starting this summer, customers will be able use their mobile banking app to pay for parking via the 4411 parking service and check the balance on their meal/eco vouchers and transactions on their Monizze card.


Danske Bank is planning to offer MobilePay in Finland as it works with S Group and S-Bank to enable payment with the app by the autumn. http://tinyurl.com/y9prqo7y

S Group has nearly 1,000 grocery shops, as well as webstores throughout the country and by connecting the S-Etukortti card details to MobilePay customers will also get their Bonus loyalty points. In Denmark, MobilePay operates as an independent subsidiary of Danske Bank. In Finland, an independent subsidiary of Danish MobilePay will be established.


First Data has launched its Clover Mini and Clover Flex terminals in Germany and Austria.  http://tinyurl.com/ya46d877

FD has gained girocard certification for the German market. App developers in the two countries now have the opportunity to submit their own merchant-facing apps to the Clover App Market.

Concardis has expanded its new multichannel platform Payengine with 20 new shop plug-ins, allowing integration with most popular online shop systems. http://tinyurl.com/ybkdsrvl

The platform also now has testing facilities and is supporting 15 currencies for 5,000 merchants.


Ingenico is rolling out Google Pay Smart Tap. http://tinyurl.com/yc8xpcq4

The solution enables users to transfer their loyalty information, coupons, etc as they pay with their mobile phone using Google Pay. The UK will be the first market where the integration takes place.


Ingenico is also launching Axium, its next-generation point-of-sale platform that gives access to a complete cloud ecosystem for commerce.  http://tinyurl.com/y94x9kyc

Ingenico is partnering with ECR vendors to provide a comprehensive offer for SMEs that includes store, employee and stock management; checkout, loyalty and accounting services. The platform builds on the open Android and Ingenico’s Telium Tetra operating systems and connects to Ingenico’s e-commerce gateway.


NCR has launched its NCR WinEPTS payment solution.  http://tinyurl.com/ycyb63sq

Developed specifically for retailers and restaurants it is entirely hardware independent, cloud based omni-channel solution. It can also be integrated with instant payments solutions of European banks as well as handle third party voucher payments, food vouchers and create tax-free vouchers for eligible foreign customers.


There were more announcements from WMC in Barcelona this week –


From Mastercard on the latest expansion of the Mastercard Engage platform and a global partnership with Dream Payments for insurance payouts.


Expansion of support for MNOs based on a new package of digital payments and data science services. https://preview.tinyurl.com/y8em8lkq


Supporting Russian telco MegaFon to extend its mobile payment functionality and enable subscribers to create a virtual Mastercard bank card. http://tinyurl.com/y8h72yso


Supporting Italian restaurant chain Eataly to launch Eataly Pay app integrated with Masterpass. http://tinyurl.com/y8k73xd4


From Visa announcing it has signed 14 new technology companies, from across 10 countries, as part of its Visa Ready for Transit program.  http://tinyurl.com/yc9n3pye


And from Visa EU re Bank of Greece and wearables http://tinyurl.com/y9vuqlao and re Allianz Prime mobile payment and loyalty app http://tinyurl.com/y7oskpc3


The GSMA Mobile Economy 2018 report has been published. http://tinyurl.com/yajc9ej4   3

The report contains a range of technology, socio-economic and financial datasets, including forecasts out to 2025. With more than 5bn people connected to mobile services in 2017 it is forecast that the number of unique mobile subscribers will reach 5.9bnn by 2025, equivalent to 71% of the world’s population.



Revolut is introducing a new Rev Me! Product. http://tinyurl.com/y7tdqydu

The new functionality enables users to request money from people who don’t have Revolut.  Payments can be made in 9 currencies instantly, using a debit card. The service is free, takes c60 seconds, and eliminates the need to send account details. When message recipients y click on the payment request url, they enter their card details and funds will be paid instantly into the sender’s Revolut account.


Meanwhile Reuters is reporting it is the first digital bank to break even in the UK. http://tinyurl.com/y9le5ebd

The report says Revolut now has 1.5m users across Europe and is in the process of securing a banking license in Lithuania.



Starling Bank has joined Bacs. http://tinyurl.com/y878yuje

The move follows the launch of Starling’s Merchant Acquiring services recently as part of the challenger bank’s expansion of its Payment Services.



FSB and Which? are running a joint campaign to protect access to free ATMs.  http://tinyurl.com/ycy3g8sj

The campaign is supported by a FSB survey that indicates that firms are already more than 1Km away from a free ATM.  http://tinyurl.com/yagmxbry




Israeli fintech Supersmart  http://supersmart.co.il/ has developed technology that utilises a unique statistical engine that tracks parameters within shopping baskets over time.  Deep learning algorithms are constantly applied to disassemble the shopping cart to its components that are then checked against items that have been previously scanned before linking to self-service checkout for payment. http://tinyurl.com/y9mlrdwr


Capgemini has released its World FinTech Report 2018. http://tinyurl.com/y76k7sxj

The report examines how FinTechs are transforming the financial services customer journey through better customer centricity and use of emerging technologies; the potential for symbiotic relationships between FinTechs and traditional financial institutions; and the impending role of BigTechs] in financial services.



DNB is to introduce technology that enables the identification of customers with just a mobile phone and a passport.  http://tinyurl.com/ybb2m66t

Unlike local identity schemes such as BankID and NemID, the DNB solution will be usable globally.



SWIFT has announced that its gpi messages are driving the reduction of cross-border payment times to minutes, even seconds.  http://tinyurl.com/ycp6j9sk

With $100bn in gpi payments being made daily, 50% are being credited in less than 30 minutes. SWIFT gpi has been adopted by 150+ financial institutions globally and nearly 10% of SWIFT’s cross-border payments traffic are now using the facility across 220 international payment corridors.



EC – Summary by Vice-President Dombrovskis at the Roundtable on Cryptocurrencies. http://tinyurl.com/ydandw9j

While concluding that the blockchain technology holds strong promise for financial markets there are also a series of downside risks particularly around ICOs, money laundering and the financing of illicit activities.



Elizabeth Denham, CEO of UKICO, has made a speech on GDPR, stressing that “tough action” will be taken to protect consumers from businesses that fail to meet or ignore the new regulations. http://tinyurl.com/yba5eb5v



Vocalink article covering the first month of Open Banking.   http://tinyurl.com/ya99nuu8

80+ firms have applied for FCA authorisation; Openwrks first TPP to connect to all banks currently providing functional APIs;Zopa has partnered with TrueLayer to allow customers to verify income without uploading documents



A series of speeches have been given by Regulators addressing the changing payments environment.


The Bank of England has published speeches by Mark Carney on The Future of Money http://tinyurl.com/ya22tptm and by Sir Jon Cunliffe, on changes to the payments landscape and the impact of technology on payments  http://tinyurl.com/yax2jdud


Riksbank Governor Stefan Ingves has written an article expressing the need for cash to remain as a payment method in Sweden and the Central Bank to retain control over payment systems. http://tinyurl.com/ya8wavk8

The concern is expressed that the country is moving towards a scenario where all means of payment to which the public has access are controlled by commercial entities. The threat from cryptocurrencies is also discussed as is the need to update the RIX system.


ECB’s Yves Mersch speaking on ‘Innovation and digitalisation in payment services’.  http://tinyurl.com/y7gnef75

He reiterates his message that the only route for A2A is via APIs and that, ideally, there should only be one. He also urges the use of ISO 20022 as a common standard in all market developments. On other fronts he castigates bankers who complain about the lack of a level playing field with TPPs, floats a caveat about Regulatory sandboxes and emphasises the critical risks associated with cybersecurity.


The FCA has published its final policy statement on new rules for the credit card market. http://tinyurl.com/y6vf8q5s

The changes will provide more protection for credit card customers in persistent debt or at risk of financial difficulties and come into force on 1 March 2018.


The FCA has also fined Vanquis £1.976m and ordered it to pay compensation to customers amounting to £168.781m.


Essentially this is for mis-selling its Repayment Option Plan credit management tool. In 100 per cent of calls reviewed by the FCA, sales agents did not explain the full cost of the product to customers.


The PSR has announced the outcome of its consultation on introducing a contingent reimbursement model for victims of authorised push payment (APP) scams and is to issue an industry code of practice by September 2018.  http://tinyurl.com/y77kzygz

A dedicated Steering Group is to be formed to ensure the contingent reimbursement model is designed in the best way to minimise the number of scams in the future and protect victims of scams. It is planned to have the Group working within the next few weeks. No direct regulation then.


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