Barclays and PayPal have announced a strategic partnership designed to enable customers to manage and use their Barclays/Barclaycard and PayPal accounts seamlessly. http://tinyurl.com/ycuo2fpn
The aim is to make it easier for users to manage their PayPal account in Barclays’ digital channels and their Barclays products in their PayPal digital wallet including the uploading of cards to the PayPal wallet alongside new features to support SMEs.
TfL reports that half of all Tube and rail pay as you go journeys are now regularly made using contactless payment cards or mobile devices. http://tinyurl.com/ycqg5wmz
The payment method is now being used to make around 17m journeys a week with around one in eight contactless journeys now being made using a mobile phone or smart device. From May, pay as you go will be extended to cover
Worldpay is to integrate UK based STS’s payments acceptance application. http://tinyurl.com/yde56v4q
The partnership will deliver increased choice and capabilities for retailers, hospitality providers, travel merchants and service organisations looking to integrate payments at POS.
Klarna is integrating with Magento Commerce as a Core Bundled Extension. http://tinyurl.com/y729b8ka
The integration will allow merchants to activate Klarna’s Pay Now, Pay Later and Slice It products.
Adyen has posted a survey of US consumers and retailers. http://tinyurl.com/yca6nnn2
The survey was designed to understand consumers’ current and future shopping experiences, preferences, behaviours, and the impact of digital trends. The survey identified a new large group, Spendsetters, who embrace technology and demand fast, easy, frictionless shopping experiences.
eBay and PayPal have finalised the previously announced Payments Agreement. http://tinyurl.com/y8cqfgf7
The agreement confirms that PayPal will be retained as a payment option on eBay’s new intermediated payments model until July 2023.
PayPal has begun rolling out the ability for consumers to use PayPal within Samsung Pay. https://tinyurl.com/ycbf86hu
Saxo Bank is migrating to Microsoft Cloud. http://tinyurl.com/y9v7nr7r
Microsoft Corp. and Saxo Bank have announced a strategic partnership with the aim of running Saxo Bank’s entire technology platform on the Microsoft Cloud. Saxo Bank says it now supports more than 120 White Label partnerships globally.
TransferWise mission report Q1 2018. http://tinyurl.com/yake3fhk
Now claims 3m customers transferring £2bn per month.
SWIFT has launched a consultation on the migration of cross-border services to ISO 20022. http://tinyurl.com/ycggalrt
The aim of the consultation is to determine the timing and practicalities of migration. ISO 20022 migration study Download
The report discusses how greater cooperation both within businesses and between firms, law enforcement and Government is central to tackling the growing threat of cybercrime.
Nets is piloting finger vein payments. https://preview.tinyurl.com/y8kf7ang
In collaboration with CBS, Smart Payments and Fingopay, Nets has installed finger scanners at the check-outs in the Copenhagen business school cafeteria using a Dankort card.
Elavon has received PCI P2PE validation for its Safe-T Link offer. http://tinyurl.com/y7kmne94
Safe-T Link gives enhanced Protection from Data Breaches with PCI Point-to-Point Encryption combining EMV, tokenization and encryption to shield sensitive card payment data until it is delivered to Elavon’s secure decryption environment.
Ripple has gained five new xVia Customers for its Global Payments Network. http://tinyurl.com/y97223gs
xVia is an API giving access to RippleNet. Included in the five are FairFX.
FCA Speech – Blockchain: considering the risks to consumers and competition. http://tinyurl.com/yd9yxe2s
A cautious approach from the FCA. While recognising that Blockchain technology has numerous useful applications it is cognizant that there are potential risks to consumers and competition to be considered – Crypto assets risky, DLT has potential, Understanding more is crucial.
Fiserv has launched ‘FinKit for Open Banking’ to help financial institutions meet and keep pace with rapidly unfolding regulations. http://tinyurl.com/y9yswtma
FinKit for Open Banking is designed to enable immediate and long-term compliance with PSD2 and OBIE regulations and put in place the capabilities required for banks to maximize the opportunity of open banking. The solution includes access to pre-built PSD2 and Open Banking APIs and facilitates ongoing compliance through API version control, release management and distribution.
GDPR Survey by Oliver Wyman says UK is less prepared for GDPR Compliance than Germany or France. http://tinyurl.com/y7uc4zsx
Only just over 50% of senior retail executives in the UK say their organisation will be fully compliant on 25 May and 71% see data transfer requests as a significant threat.
Meanwhile the EC is putting forward a set of measures to increase the availability of data in the EU and boost AI. http://tinyurl.com/y9465ao9
The proposals build on the GDPR and seek to ensure: Better access to and reusability of public sector data; Scientific data sharing; Private sector B2B,B2G data sharing; Securing citizens’ healthcare data. Q&A on data Factsheet
and The UK Government has announced a £1bn deal to put the UK at the forefront of the AI industry. http://tinyurl.com/y9ky2xpa
The deal between government and industry includes more than £300m of newly allocated government funding for AI research.
Revolut has completed a $250m Series C funding round, giving it a valuation of $1.7bn. http://tinyurl.com/y7afx4t2
The funds will be used to support launching in the US, Canada, Singapore, Hong Kong, Australia and New Zealand this year as well as recruiting more staff and introducing new features to existing products.
TransUnion is to acquire U.K.-based Callcredit Information Group from PE player GTCR. http://tinyurl.com/y8dfub3j
The deal is for £1bn. Callcredit is the second largest credit reference agency in the UK with over 3,000 customers, including the UK’s largest financial institutions and organizations in the alternative lending, insurance, telecom, utilities and public sectors, among others.
The EC has approved the acquisition of sole control over Saxo Bank by Geely Financials Denmark.
Geely Financials Denmark is part of Zhejiang Geely Holding Group, a Chinese automotive multinational that owns the Geely, Volvo and London Taxi brands.
EVO Payments International has announced it has filed a Form S-1 in the U.S. in preparation for a proposed IPO. http://tinyurl.com/yccakp2z
The details of the IPO have not yet been determined.
Square is to acquire website builder Weebly. http://tinyurl.com/ydbomo5x
The deal is valued at $365m and is aimed at providing sellers a comprehensive solution to start or grow an omnichannel business. Weebly has more than 625,000 paid subscribers of which nearly 40% are outside the U.S. and will add a new recurring revenue stream.