22 December 2017

22nd December 2017
  • Mobile/Contactless and omni-Commerce
  • ACH
  • Cash
  • Remittances
  • Corporate Activity
  • DLT/Blockchain
  • Regulation


IMRG Capgemini e-Retail Sales Index for November indicates 11.5% yoy growth. http://tinyurl.com/yc6phzeb


MasterCard data for Christmas spending.  http://tinyurl.com/ydelt64g


Danal is working with O2 to provide digital eKYC and identity proofing for regulated online services in the UK. http://tinyurl.com/yctfv4yb

The partnership seeks to address the growing demand for mobile identity services driven by continuously evolving KYC and AML compliance requirements.


Judopay is integrating with CyberSource to enable in-app payments to merchants. http://tinyurl.com/ydcp62rz

The partnership gives Judopay the opportunity to broaden its reach and offer in-app payments on a global scale.



In what is presumably a tidying up exercise that recognises recent changes, HM Treasury has published two orders regarding the status of CHAPS and Cheque & Credit.

The first revokes the specification of CHAPS as a recognised payment system http://tinyurl.com/ybddcc9y

The second amends the designation of Cheque & Credit as a regulated payment system http://tinyurl.com/yaxjdmw7

The latter widens the arrangements that constitute the Cheque & Credit system to include the processing of images of cheques and other paper instruments.



DNB Analysis paper ‘Danish households opt out of cash payments’.  http://tinyurl.com/ycr5dcdl

The analysis covers payments carried out by Danish households at POS and is based on a on responses from a representative selection of around 1,200 Danes aged 15-79 years.



Sainsbury’s Bank has launched a new online international money transfer platform driven by moneycorp. http://tinyurl.com/y9qpr4pj

The service is an online offer and is fee-free with Nectar loyalty card holders receiving preferential exchange rates.



Gemalto has gone to Thales after Ingenico’s speculative bid. http://tinyurl.com/ycttfago

The deal, valuing Gemalto at €5.43bn (€51 per share against Atos’s bid of €46.0), has been unanimously recommended by Gemalto’s Board of Directors and unanimously approved by Thales’s Board of Directors. Thales is to combine its digital assets with Gemalto, within a new Global Business Unit.


Fintrax Group and Planet Payment have announced the successful completion of the previously announced tender offer.  http://tinyurl.com/y9y2uxja

Planet Payment common stock has now ceased to be traded on The NASDAQ Stock Market.


TSYS is making a move in the US to buy payment processor Cayan for $1.05bn. http://tinyurl.com/yd7rsaa8

The deal will expand TSYS’s offer to SMEs, increasing its merchant base to 730,000.


PayPal has made a strategic investment in Raisin, a financial marketplace that enables savers to access the best deposit rates.  http://tinyurl.com/y99lxsy3

Currently, 40 banks offer savings accounts through the Raisin platform. Several large FIs are currently integrating Raisin white-label services into their desktop and mobile applications. Raisin claims >100k users across Europe. No figure has been given for the size of the investment.


The Bank of England has approved Tandem’s takeover of Harrods Bank. http://tinyurl.com/y8zjj2s9

Having lost its licence earlier in the year Tandem is now back in business as a digital bank.



The Danish Central Bank says digital currency would not result in better payment solutions. http://tinyurl.com/yavv6nr7   Full analysis. http://tinyurl.com/y9eqtbth

“It is difficult to see what central bank digital currency would be able to contribute that is not already covered by the payment solutions which exist today. Denmark has a secure and effective payments infrastructure and digital currency, in the form of bank deposits, already exists”.

There is a section on Payment habits and infrastructure in Denmark that covers a range of issues including the use of cash and the continued development of the payment system.



The Mobile Proxy Forum (MPF) is launching a RFP for the provision of a Standardised Proxy Lookup (SPL) service. http://tinyurl.com/y8rabgr4

The aim is to allow the exchange of the data necessary to initiate pan-European P2P mobile payments between proxy-based P2P mobile payment solutions.



The European Banking Authority has published an Opinion on the transition from PSD1 to PSD2. http://tinyurl.com/ybxwsp7x  Opinion http://tinyurl.com/yaeq7vhu

The Opinion clarifies a number of issues identified by market participants and competent authorities, including with regard to the transitional period foreseen under PSD2.


The FCA has updated its page on the LINK interchange proposals. http://tinyurl.com/y9aq7gap

Nothing new really but is in response to the publication of the Treasury Committee correspondence from the Chair, Nicky Morgan MP, to LINK and the PSR. http://tinyurl.com/y9bc45ty

The MPs will monitor developments closely – “If there is a risk of unacceptable consumer detriment, the Committee will consider taking oral evidence from LINK, individual banks, and independent ATM deployers.”


The FCA has published a Statement covering the EBA Guidelines on Operational and Security Risks under PSD2 saying all PSPs will be expected to comply with the Guidelines from 13 January 2018. http://tinyurl.com/y745lyt4


The CMA has issued ‘Directions’ to 5 banks – BoI, Barclays, HSBC, RBS and Santander –   to ensure they comply with the requirement to release personal and business account data sets as part of the Open Banking remedy. http://tinyurl.com/y7c7drgl

The banks in question had informed the CMA that there would be a delay beyond the 13 January deadline in their BCA and PCA customers gaining access to the open banking account information and payment initiation functionalities. Each bank has been given a grace period as set out in the ‘Direction’ and an Implementation plan. Implementation plan timelines show:  BoI: June/September; Barclays; February/March; HSBC: end February; RBS: mid-February;  Santander: May.


The EC and EP have agreed the way forward on AML and terrorist financing. http://tinyurl.com/y7oj29ax   Final Text http://tinyurl.com/yau3eqjy

(Preamble clauses 11 and 12; Article 1 Section 3 amends existing Article 12)

As a consequence the threshold for identifying the holders of prepaid cards is lowered from €250 to €150, and customer verification requirements are extended. Virtual currency exchange platforms and custodian wallet providers will have to apply customer due diligence controls, ending the anonymity associated with such exchanges.


The European Banking Authority has published its final guidance for the use of cloud service providers by financial institutions. http://tinyurl.com/ydze7p8z  Report http://tinyurl.com/y822k9vv

The Recommendations address five key areas: the security of data and systems, the location of data and data processing, access and audit rights, chain outsourcing, and contingency plans and exit strategies.


Latest News Round-up

19 October 2018

Industry Videos

Central 1, a Canadian credit union, is trialling an authenticated Voice Banking Service using Amazon Alexa.

Contact Us