6 October 2017

6th October 2017
  • Mobile/Contactless and omni-Commerce
  • Digital banking
  • SMW Accounting
  • Fraud/Cybersecurity
  • Acquiring/Processing
  • Subscription Payments
  • APIs/OpenBanking/PSD2
  • Corporate Activity
  • DLT/Blockchain
  • Regulation

MOBILE/CONTACTLESS and omni-COMMERCE

Barclaycard research suggests enhancing the in-store experience still presents a significant commercial opportunity for retailers. (It’s not all e-commerce).  http://tinyurl.com/ybg3h27n

The survey indicates conversion rates in the High Street are twice those seen on-line.

 

Verifone is supporting Drink Command’s new self-service draft beer system that enables customers to pour and pay for their own drinks.  http://tinyurl.com/y7t38d7c     https://www.drinkcommand.com/

The system allows contactless, NFC and other payment methods at the tap.

 

Square  survey on UK “card-only” shoppers.  http://tinyurl.com/yc34h7oc

The survey indicates 17% of UK shoppers are now a “card-only” consumer that never uses cash to pay for their shopping in an average day. However, the research also indicates that up to 3m of Britain’s small businesses still do not accept cards with 44% of SMEs saying they don’t miss out on sales by not accepting cards.

 

The German Savings Banks Finance Group is to launch a mobile payment solution in 2018. http://tinyurl.com/yaeu4867

Currently in trial with ten Mastercard issuing Savings Banks, when rolled out it will support girocard mobile together with other schemes.

 

Adyen is now supporting Alipay globally. http://tinyurl.com/yao4ugsv

The Adyen-Alipay solution is completely integrated into the current in-store solution allowing Adyen retailers globally to accept non-cash payments from Chinese customers in store.

 

Adyen has also announced the launch of MarketPay to support online marketplaces.  http://tinyurl.com/yd8blmem

MarketPay enables fast, automated sign-up, splits funds between sellers, flexible payout choices and is PSD2 compliant.

 

Worldline is integrating Lyf Pay in its online payment solution WL Sips.  http://tinyurl.com/ycjdynjo

The development makes the Lyf Pay wallet (the merged Fivory and Wa! wallets) available to Worldline merchants.

 

Wirecard is upgrading boon with a new P2P transaction function.   http://tinyurl.com/y8rdqsds

The upgrade will move boon from being a payment app to one that combines a variety of payment and banking services including instant overdrafts. This latter offer will be first released in Spain in November with P2P available to all boon users by the beginning of 2018.

 

LeMonde is reporting that Amazon is looking to open AmazonGo type stores in France and UK.   http://tinyurl.com/ycgmzvmm

 

Alibaba is to launch a new e-commerce platform in Russia.  http://tinyurl.com/yar9w5ee

Alibaba is introducing a new trade platform called Tmall. The service is in test mode and should become fully operational from mid-October.

It will be launched within the AliExpress platform and marks the brand’s debut outside China. Goods will be delivered from the warehouses of Alibaba’s partners in Russia.

 

Zwipe has announced that it has made the first shipment of its biometric card inlays. http://tinyurl.com/ydd9gxp3

The technology will be used in contactless biometric payment card pilots being undertaken by banks with a view to potential rollout in 2018.

 

Stripe has introduced a new ‘Elements’ service that helps e-commerce merchants create their own checkout flows for both desktop and mobile.      https://stripe.com/elements

 

Shopify and BigCommerce are integrating with Instagram to support e-commerce.                                       Shopify http://tinyurl.com/yclm6zs4  BigCommerce http://tinyurl.com/ya8z6e2l

Instagram’s shopping feature allows tagging of products that are available for sale, and then letting users purchase them directly within the app.

 

Mastercard and WeWork are testing concepts for a digitally-connected environment. http://tinyurl.com/y9xuatlc

By deploying IoT technologies the partnership is looking to reshape how people live, work and play. MasterCard is providing two new solutions

  • Metered payment for hotdesking and
  • Frictionless retail experience (presumably aka AmazonGo).

 

DIGITAL BANKING

Starling Bank is launching a mobile-only business account.  http://tinyurl.com/yamt3qky

 

Reuters is reporting that Orange is planning to launch its delayed online banking service in France in November.  http://tinyurl.com/y8b5x6a7

Orange Bank will offer its customers use of an instant, secure mobile payment service as well as a free debit card.

 

SME ACCOUNTING

Xero launches Practice Ignition.  http://tinyurl.com/y8wr7fg6

The system is an automated cloud workflow that allows accountants and bookkeepers to use digitally signed proposals to on-board clients, process payments, automatically raise invoices, and deploy workflow.

Xero is also integrating with Curve to automate expenses.   http://tinyurl.com/y8yof4m5

 

FRAUD/CYBERSECURITY

Mastercard has announced the launch of its Early Detection System that provides issuers with advanced alerts for cards and accounts at a heightened risk of fraudulent use.                                                      US Version http://tinyurl.com/y7amd2wp UK Version http://tinyurl.com/y9d8uezj

The system uses MasterCard’s network insights, predictive capabilities and a combination of internal and external data sources to flag whether a card or account is at risk, alerting the issuer including a risk level. The system is available to issuers globally and captures all types of fraud across all transaction channels.

 

Mastercard has been trialing a new biometric card in South Africa.   http://tinyurl.com/nxo6aez

The cards combine chip technology with fingerprints to verify cardholder’s identity for in-store purchases. Additional trials are being planned in Europe and Asia Pacific in the coming months.

 

ACQUIRING/PROCESSING

EVRY is to support Aktia Bank’s complete card payment portfolio in Finland. http://tinyurl.com/yaxxjlwt

EVRY will deliver a full gamut of services including virtual debit and credit cards for Aktia’s digital wallet solution, Aktia Wallet.

 

UnionPay cards now said to be accepted by 21m merchants and 1.5m ATMs outside Mainland China. http://tinyurl.com/ycrr87eg

 

SUBSCRIPTION PAYMENTS

Zuora, a subscription management software provider, indicates 78% of the UK adult population are now subscribing to at least one product or service.   http://tinyurl.com/hcoj6dx

The ‘A Nation Subscribed’ report examines the UK subscription economy and summarises the key findings of a UK-wide study, conducted by YouGov.  The report quantifies the rising preference of UK consumers to pay a recurring fee for on-going access to services such as Netflix, Spotify or Graze, as opposed to buying products outright.

 

APIs/OPEN BANKING

Bottomline is to become a TPP under the Open Banking initiative.  http://tinyurl.com/ycylchks

 

CORPORATE ACTIVITY

Saxo Bank is gaining a new majority shareholder. http://tinyurl.com/ybvx4q34

The development sees Sampo Bank taking a near 20% shareholding with existing investor Geely Financials Denmark taking its stake to 51.5%. Geely Financials Denmark is a subsidiary of Zhejiang Geely Holding Group so the deal gives Saxo a strong position to expand in Asia.

 

Worldpay has participated in the latest funding round for Featurespace that has raised £16.5m. http://tinyurl.com/yd7o4wzd

Worldpay has also entered a commercial partnership with the company that develops machine-learning fraud prevention solutions.

 

DLT/BLOCKCHAIN/DIGITAL CURRENCY

Worldline is leading the EC’s Bloomen Project on Blockchain.  http://tinyurl.com/y7fnpl9b

Designed for the media and value-added content industry, the goal of the Bloomen project is to extend the use of the Blockchain technology to several different kinds of online user transactions and to provide an innovative way for content creation, sharing, personalized consumption, monetization and copyrighting.

 

REGULATION

The EBA has published its Work Programme for 2018.  http://tinyurl.com/y8xxdlra

PSD2 is covered in Activity 28 while Activity 29 covers Fintech.

 

Accenture survey – Consumers’ initial reactions to the new services enabled by PSD2.   http://tinyurl.com/y9rq2933 Survey http://tinyurl.com/y7su4tb2

The survey indicates that more than 50% of consumers will use a PISP product that is secure and offers extensive retail options. 76% of consumers are likely to choose traditional banks as their PISP over third-party PISPs and 70% will trust banks as AISPs over TPPs. However, Accenture opines that trusted social media and tech companies will capture a significant slice of the market.

 

 

 

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