MeaWallet has signed an agreement with Swedbank to integrate MeaWallet’s tokenisation platform with Swedbank’s mobile banking app in Latvia, Lithuania and Estonia. http://tinyurl.com/yawezfqk
MeaWallet now flies under the flag of Invuo Technologies, the former Seamless Distribution.
UnionPay International is looking to expand the use of its QR based Mobile QuickPass app. http://tinyurl.com/ybrl2yer
While the push is concentrated in SE Asia, QuickPass is accepted at over 600,000 POS terminals outside mainland China, across 16 markets including Australia, Canada, and Russia, which has 400,000 of the POS.
Meanwhile UPI is saying UnionPay cards will be accepted at more than 90% of the local Russian ATMs and POS terminals before the 2018 World Cup. http://tinyurl.com/ycfhzz2l
UnionPay has also published its transaction volumes during the New Year’s holiday showing record usage. http://tinyurl.com/y8ytglm6
External use by Chinese tourists is said to have grown ‘remarkably’ with Russia and the Czech Republic included in the new favourite destinations. UnionPay QR code and UnionPay contactless QuickPass were an important part of the mix.
Sky Betting & Gaming has partnered with Barclays and Vocalink to allow customers to receive immediate payouts on their debit cards. http://tinyurl.com/yab6c43p
Sky says it is working with several banking partners to offer the new service for all of its customers.
Gemalto is working with the Bank of Cyprus to implement an EMV biometric dual interface payment card for both chip and contactless payments. http://tinyurl.com/yasapvvx
Biometric authentication with fingerprints will replace the standard PIN code by comparing the scanned fingerprint with biometric data stored in the card. The cards are compatible with existing POS and powered by the payment terminal, eliminating the need for an embedded battery.
The Ant Financial/Moneygram deal is not going to happen. http://tinyurl.com/ya7z84j5
The two parties have ”mutually agreed to terminate their Amended Merger Agreement following the inability of the companies to obtain the required approval for the transaction from the Committee on Foreign Investment in the United States (“CFIUS”)”. There is nevertheless a strong willingness for work on ‘new strategic initiatives’ to take place, with a continuing partnership going forward.
The main impact is that in future fees will be collected directly from fee payers, rather than collecting them indirectly via PSOs. Fees will be calculated on the basis of fee payers’ transaction volumes and values.
Western Union Financial Services has been fined $60m for AML offences by NYDFS. http://tinyurl.com/yabdqkrs
The deficiencies in its compliance programs date back to the period 2004 to 2012.
Speech by the Vice Chairman for Supervision of the Board of Governors of the Federal Reserve System – Thoughts on prudent innovation in the payment system. http://tinyurl.com/ycazh2yb
A rundown of issues relating to the US Payment system including Payment Systems, Networks, and Trust; Payment System Innovation; Private Digital Currencies; Central-Bank-Issued Digital Currency and Prudent Innovation.