The report summarises the outcome of its research and understanding of the sector following a call for information. The PSR will continue to keep the CMP sector under observation as it develops further but does not appear to think any regulatory action is required at present. It did consider the issue raised by Apple’s restriction of access to its NFC antenna but did not identify any significant negative impact on innovation or competition.
The YoYo payments and loyalty platform is claiming it has reached 1m users. http://tinyurl.com/y8pee2yj
Bancomat in Italy is launching Bancomat Pay through integration with SIA’s Jiffy. http://tinyurl.com/y7dazuw5
The move will allow PagoBANCOMAT cardholders to pay, in stores and online, and to send and receive money in real time from their smartphone. The launch is expected ‘next autumn’.
SIX Payment Services has developed a payment solution for recurring donations. http://tinyurl.com/ybmcdfgq
Donors initially subscribe to a monthly donation of an agreed amount via credit card on a mobile device The donor’s credit card is then charged with the same amount as a recurring payment on a monthly basis.
Apple CEO Tim Cook said on the company’s recent earnings call that Apple Pay will launch ‘later this year’ in Germany.
He also said that Apple Pay saw more than 1bn transactions in Q3/18, triple the number a year ago.
FICO’s latest fraud survey indicates Total card fraud losses across the 19 European countries studied grew by €30m (+2%). http://tinyurl.com/yaouyrxn Interactive map http://www.fico.com/europeanfraud/
CNP remains the key issue particularly for Denmark and Hungary. While UK losses fell 8% and France 6%, the UK, France and Russia account for 77% of European card fraud losses.
Visa has announced a strategic global partnership with Sabre. http://tinyurl.com/yabpzmch
Sabre will utilize CyberSource to provide an integrated travel reservation and fraud management solution to airlines, hotels, travel agencies and other travel organizations worldwide
The UK received more FinTech investment than the US’s $14.8bn, attracting $16.1bn (£12.3bn) out of Europe’s $26bn total.
Transaction Network Services (TNS) have published a report – Vital Insights into Biometric Payments Adoption. http://tinyurl.com/y9vc6x3m
The report is based on a survey carried out in the US, UK and Australia that explores consumer attitudes toward and experiences with making biometric payments. The key finding is that 61% felt that providing companies with their fingerprint and iris information put their personal identity information at risk. Overall adoption of biometric payments appears to have remained consistent over the last two years at 15/16%.
YouGov research suggests 72% of UK adults have not heard of ‘open banking’. http://tinyurl.com/y8dpqrc4
Interestingly it is the older generation that is more aware of open banking rather than younger people. In all age groups there is a lack of understanding of the ways open banking might be used
The European Union Blockchain Observatory and Forum has issued a report on Blockchain innovation in Europe. http://tinyurl.com/ybhg9dpo
The paper examines the state of blockchain innovation in Europe today, looking at both Europe’s strengths and weaknesses vis-à-vis this technology, and makes some recommendations on where Europe should set its priorities in the future.
Bank Leumi has confirmed the sale of Leumi Card to Warburg Pincus for NIS 2.5bn (€582m; £518m). http://tinyurl.com/y6ur7qlu
The sale of Leumi Card is in accordance with the Law for Increasing Competition and Reducing Concentration in Israel’s Banking Market, which requires the Bank to sell its stake in the subsidiary.
TransferMate has announced a €21m minority investment from ING Group. http://tinyurl.com/y8ac3pyo
TransferMate and ING have also agreed to a strategic partnership, where TransferMate services will be available to all SME and corporate clients of ING.
The FCA has opened a consultation on rules and guidance to improve conduct standards and communications in the payment services and e-money sectors. http://tinyurl.com/yabderua Consultation Paper http://tinyurl.com/ya7np6jp PDF http://tinyurl.com/y9btcgy5
The FCA proposes to widen the categories of businesses and activities that it regulates across the payment services and e-money sectors as well as issuing new guidance to help ensure that firms do not mislead consumers when they are advertising payment services that involve a currency conversion.