4 May 2018

4th May 2018
  • Mobile/Contactless and omni-Commerce
  • Biometrics
  • Fraud/Security
  • Digital/Retail banking
  • Acquiring/Processing
  • Issuing
  • Open Banking
  • UK Payments Infrastructure
  • GDPR
  • Corporate Activity

MOBILE/CONTACTLESS and omni-COMMERCE

Starling Bank is now supporting Samsung Pay.  http://tinyurl.com/yaebpfss

Samsung Pay is currently available on the Galaxy S9, S9+, S8, S8+ and Note 8, S7 and S7 edge, S6, S6 edge and S6 edge+[1], A3, A5 2017, as well as the Samsung Gear S3 & Samsung Gear Sport smartwatches.

 

Tesco Bank has launched a new mobile app that incorporates technology – ‘native mobile registration’ – that allows customers to set-up and access their account on their smart phone without first having to register at Tescobank.com.  http://tinyurl.com/y7yuxapq

The new access route meets frustrations expressed by customers for the need to register for online banking, before being able to set up mobile banking.

 

Virgin Trains is now selling tickets through Amazon Alexa. http://tinyurl.com/y763ns6q

Virgin claims it is the first train operator in the world to sell using voice commerce. Customers with an Amazon Echo device can book Virgin Trains Advance Single tickets via Alexa using the Amazon Pay service.

 

Panasonic is introducing a range of integrated mPOS solutions for its rugged tablets and handheld devices. http://tinyurl.com/ybc46a4k

The integrated device holder offers a mPOS solution for the retail and hospitality industries for tasks such as queue busting, taking orders and payments at a table, assisted selling, in-flight purchases and in the field sales.

 

Buckaroo and Payconiq have announced an integration that will enable web merchants to offer Payconiq at the Buckaroo check-out. http://tinyurl.com/ycrjrdgh

 

Sberbank and Yandex have announced a JV based on the Yandex.Market platform with the aim of developing a leading B2C eCommerce ecosystem.  http://tinyurl.com/yb4p92rl

The two partners will own equal stakes in the company with Sberbank investing RU30bn (c$500m). The JV will create an online marketplace, seek to develop cross-border eCommerce and enhance the Yandex.Market service as a price comparison and product selection platform.

 

Splitit has announced the launch of a debit card instalment payment offer in the US and Europe.  http://tinyurl.com/yafc3q3u

Users are now able to split their purchases of $400 or less into up to three interest-free monthly payments using their existing debit cards. This enhances the original offer of up to 12 interest-free payments on an existing credit card.

 

Google is starting to roll out Google Pay on the web from desktop and iOS.  http://tinyurl.com/ya4tn54o

Users checking out on Chrome will benefit from Google Pay automatically filling in billing, shipping, and payment information. Google Pay is now live in Australia, Canada, Poland, Russia, the UK and the US with the online capability available on Chrome, Safari and Firefox browsers.

 

PayPal has released the findings of a comScore study that found that PayPal Checkout converts 82% higher than a checkout without PayPal. http://tinyurl.com/y73qcxvk

Another survey indicates the impact PayPal has in driving conversions on mobile with 55% of customers saying they made more online purchases because of PayPal One Touch.

 

Auriemma, a NY Consultancy, says its Q1-2018 Mobile Pay Tracker indicates yoy growth of 5% for the ‘Pays’.  http://tinyurl.com/y9j2f35e

Despite the growth, however, a declining proportion of users would recommend the service with ‘not recommends increasing to 42% from 31% the previous year. Issues at POS remain significant giving merchant pay options an advantage.

 

Bloomberg is reporting that Amazon is offering retailers discounts to use Amazon Pay. http://tinyurl.com/ycd6ok6z

Amazon is apparently prepared to give up its part of the take from transaction fees.

 

And Techcrunch is reporting Instagram progress on in-app payments. http://tinyurl.com/y92dxh2o

 

UnionPay International has announced that users of the “UnionPay” app can now use the mobile payment service in 25 countries and regions outside the Chinese Mainland. http://tinyurl.com/ydd2pjrw

Most of the examples are outside Europe but quotes QuickPass as being accepted at 400,000 POS terminals in Russia and

50,000. In Greece (Athens and Santorini) accept.

 

BIOMETRICS

Mastercard has introduced technology developed by IDEX that allows holders of its biometric cards to register their fingerprint onto the card remotely and away from bank branches.  http://tinyurl.com/y8etdhyh  IDEX  http://tinyurl.com/y7vms4qd

The technology uses a battery-powered sleeve that scans a holder’s fingerprint via the sensor on the card, creating an encrypted digital template that is securely stored on the card. MasterCard hopes the technology will help speed adoption of biometrics by both issuers and consumers.

 

FRAUD/SECURITY

SIX Payment Services has enhanced its eCommerce anti-fraud offer with the introduction of Fraud Free by SIX.  http://tinyurl.com/ycjxmrkv

Powered by German-Israeli payment security start-up Fraugster, uses AI and combines human analysts with machine scalability, identifying new fraud patterns as they emerge, in real time. The solution integrates seamlessly with Saferpay with Fraugster taking over the full liability for every payment transaction that Fraugster accepts, reducing merchant risk.

 

DIGITAL/RETAIL BANKING

ACI Worldwide and Ovum have published a new survey on real-time payments and open banking – 2018 Global Payments Insight Survey: Retail Banking.  http://tinyurl.com/yd5qltra   Report http://tinyurl.com/ycuzzajo  .

87% of banks are reporting a clear strategy for Open APIs and 85% expect real-time payments to drive revenue growth.

 

ACQUIRING/PROCESSING

Paysafe and NMI have announced an expanded partnership. http://tinyurl.com/y8nry8gg

The partnership will see NMI leverage Paysafe’s global acquiring and processing platform and Paysafe deepen its integration and offering accessible through NMI’s payments enablement solutions. The two organizations have developed a customizable payment processing solution that enables merchants to match their specific gateway and acquiring requirements.

 

ACI Worldwide has announced that Erste Bank Hungary is leveraging ACI’s UP portfolio to drive its Open Banking strategy and enable Immediate payments.  http://tinyurl.com/y78ald26

 

ISSUING

MasterCard has announced that Santander is to issue Mastercard Debit in the UK. http://tinyurl.com/ycdnmckt

Santander customers will begin to receive cards from the beginning of 2019, as part of a four-year reissuing programme and an eight-year agreement with Mastercard. Santander has a portfolio of 9m+ UK debit cards and will continue to issue Mastercard credit cards.

 

OPEN BANKING

A Manifesto for Open Banking has been published by a wide ranging Group of 18 consumer organisations.  http://tinyurl.com/ya8kj95s  Manifesto http://tinyurl.com/yaymj4bx

The Manifesto sets out five prerequisites for building trust with consumers and delivering the types of services they need and expect. Just five points with no amplification.

 

UK PAYMENTS INFRASTRUCTURE

The New Payment System Operator has taken on operational responsibility for Bacs and Faster Payments systems.

NPSO http://tinyurl.com/ycyu43e3   PSR http://tinyurl.com/ybqlod9r

The transfer occurs simultaneously with Bacs and Faster Payments schemes becoming subsidiary companies of the NPSO. The PSR and Bank of England are monitoring progress to ensure that the NPSO delivers a system which will benefit everyone and enhance resilience within the UK payments sector.

 

HM Treasury has announced that Vocalink is to be brought into the Bank of England supervisory regime. http://tinyurl.com/y6u4vqoa

 

GDPR

A survey by Veritas Technologies indicates many organisations will be inundated with requests for personal information from UK consumers post GDPR going live. http://tinyurl.com/y7t4ra4z

The survey has an average of 40% already planning to take advantage of their data privacy rights within six months. For Financial services companies this rises to 56%.

 

CORPORATE ACTIVITY

The FT has reported that iZettle is to announce plans for an IPO next week.

 

Latest News Round-up

25 May 2018

Industry Videos

DNB to revolutionise international identification

DNB is working on technology that makes it possible to identify clients with just a mobile phone and a passport. The bank combines technology in the phone and data stored in the biometrical passport with its own systems. An important focus of the project is the customer experience and to resolve challenges related to international identification.

Contact Us