26 January 2018

26th January 2018
  • Mobile/Contactless and omni-Commerce
  • ACH/Instant Payments
  • Biometrics
  • ATMs (LINK)
  • Schemes
  • Digital/Retail Banking
  • UK Payments Infrastructure
  • PSD2/Open Banking
  • Regulation

MOBILE/CONTACTLESS and omni-COMMERCE

ONS Retail sales, Great Britain: December 2017.   http://tinyurl.com/yco58dfq   A focus on online sales

Internet sales continued to increase as a proportion of all retailing, accounting for 18% – an increase on the December 2016 figure of 17.1%. Overall, ecommerce sales in December grew by 9.4%.

BRC Comment http://tinyurl.com/y7ep2mfz

 

IMRG Capgemini e-Retail Sales Index 2017 analysis. http://tinyurl.com/y8e4utqo

UK online retail sales were up 12.1% on average year-on-year in 2017 (versus forecast of 14%). December’s yoy growth was 9.1%. Interesting growth ‘bounce pattern’ with 3 year cycle..

 

IBM is testing a checkout system that scans a complete basket at once. http://tinyurl.com/y7sznzfa

Working with Shell, IBM says the technology being trialled is 15 times faster than standard self-service checkouts.

 

Samsung Pay in Spain has reached a total of €100m of transactions.  http://tinyurl.com/y9lp2wdh

There have been over 2m transactions over the last year. The service is supported by a number of Spanish banks including Santander and Caixa.

 

PCI SSC has published a standard that allows ‘PIN on Glass’.  http://tinyurl.com/y83kj2bo

The new SPoC standard covers PIN entry directly on the screen of a mobile device i.e. using software rather than hardware paving the way for solution providers and application developers to move forward.

 

CapGemini has published a report – Conversational Commerce: Why Consumers Are Embracing Voice Assistants in Their Lives. http://tinyurl.com/y8u77jpn

The report is based on a survey of consumers in the US, the UK, France and Germany and suggests that voice assistants are on the cusp of transforming commerce.

 

WeChat Pay is going live in Italy. http://tinyurl.com/y7jpfypb

Italian brands can now sign up to accept payments via WeChat Pay but as yet no POS have been installed.

 

Allied Wallet is supporting China UnionPay cards. http://tinyurl.com/y7f7pynp

Allied Wallet is now a CUP General Principal Member.

 

ABN AMRO is pulling out of the Payconiq mobile payment service. http://tinyurl.com/yc32t7zx

It looks as if there are conflicting aims with ABN’s own “Tikkie”, payment app. The other Dutch banks are continuing with Payconiq’s development.

 

Wirecard’s boon is getting P2P functionality. http://tinyurl.com/yaj444n7

 

The Slovakian payment landscape.  http://tinyurl.com/y8mev3ru

EPC article.

 

Bolt, a new full stack player, launches in the US. http://tinyurl.com/yd3w8wxf

Claims to be the ‘world’s first end-to-end product for accepting payments online’, and boasting, among other things, zero fraud.

 

The Amazon Go trial in Seattle is being opened to the public. http://tinyurl.com/yanpts2z  Amazon Go Web page http://tinyurl.com/j2yjw6o

The Seattle store remains a one-off trial for the time being as Amazon continues to test its technology.

 

ACH/INSTANT PAYMENTS

Nets is to provide Instant Payment infrastructure in Hungary. http://tinyurl.com/yass2o8j

The new system is planned to go-live in 2019 and will be operated by GIRO, which provides ACH interbank clearing and settlement services in Hungary.

 

CEO of NPSO on ‘The year ahead in payments’.  http://tinyurl.com/ybtnh3d7

 

BIOMETRICS

MasterCard is pushing its Identity Check authentication solution, first flagged in October 2015, with the announcement that Banks in Europe will offer biometric solutions as of April 2019. http://tinyurl.com/y93ul2lh

Identity Check enables individuals to use biometric identifiers, such as fingerprint, Iris- and facial recognition to verify their identity using a mobile device during online shopping and banking activities.

 

FRAUD

Vocalink on SME fraud. http://tinyurl.com/yaj444n7

Apparently nearly 60% of SMEs think the impact of payments fraud on their business would be minimal while 71% of SMEs that have been victims of payments related fraud believe that it is now their biggest risk.

 

ATMs (LINK)

Which? has issued a warning regarding the LINK proposals. http://tinyurl.com/yd2dcy4q

Which? has identified 200+ communities with poor ATM provision.

 

It is also being reported that some MPs have drafted a letter to the PSR to stop any negative effects as a result of the LINK proposals and in particular any drop in the number of ‘free’ ATMs.

 

Meanwhile LINK has published the 2017 LINK Consumer Council Annual Report that highlights a year of innovation that introduced a number of new digital Projects. http://tinyurl.com/ya8v3egl

 

SCHEMES

The Turkish government has announced a new payment initiative (Turkiye Ortak Odeme Platformu) aimed at the unbanked. http://tinyurl.com/ybs9w2y4

Players appear to be largely non-bank – IMM / Belbim, Denizbank, PTT Co., Turkcell, Turk Telekom.   The platform is planned to go live by end-summer 2018 with cards issued through Post Offices. The project is essentially aimed at consolidating the multiplicity of transport cards in Turkey with one platform while providing basic payment functionality including mobile.

 

DIGITAL/RETAIL BANKING

Countingup, the latest UK Challenger bank, this time aimed at Sole traders, has launched in beta.  http://tinyurl.com/yazbxfls

The account comes with UK sort code & account number, MasterCard and banking app with its USP being embedded accounting functionality.    The e-money account is being provided by Prepay Solutions.

 

EY has published its Global banking outlook 2018 report.   http://tinyurl.com/yc6qxrhf                         Report  http://tinyurl.com/y8adz8pl

85% of banks program say implementation of a digital transformation program is a business priority for 2018.

 

UK PAYMENTS INFRASTRUCTURE

The NPSO has started the recruitment process for a new End User Council. http://tinyurl.com/yd6n8mb4

The EUAC will have a formal role to advise and challenge the board of the NPSO, to ensure the UK’s payment systems are run for the public good.

 

PSD2/OPEN BANKING

Yolt claims to be the first third party provider to work with a CMA9 current account provider under Open Banking. . http://tinyurl.com/ybpmq73p

The first successful test connection was made on 17 January between Yolt and Lloyds Banking Group

 

Danske Bank is to offer customers a service that takes advantage of Open Banking. http://tinyurl.com/ycqfzdy2

Danske Banks new mobile banking app will allow customers to access account details of all the banks they use. The app will be rolled out in Sweden in April and later in the year in in Denmark, Norway and Finland. In the UK Danske is already offering account information and payment initiation APIs.

 

REGULATION

ABTA has written to HM Treasury regarding the increase in card charges since the implementation of IFR. http://tinyurl.com/yaerhepc

The letter says 58% of ABTA’s members have experienced increased costs and few have seen savings. ABTA member comments included in http://tinyurl.com/yb9zezhw

 

Latest News Round-up

16 February 2016

Industry Videos

Amazon Go

A very interesting illustration of the future of retail from Amazon. Frictionless payments arrives in-store

Contact Us