1 February 2019

1st February 2019
  • Mobile/Contactless and omni-Commerce
  • Digital/Retail Banking
  • Acquiring/Processing
  • Issuing
  • Fraud/Security
  • PSD2/Open Banking
  • Instant Payments
  • Corporate Activity
  • GDPR
  • EPC/SEPA
  • Regulation

MOBILE/CONTACTLESS and omni-COMMERCE

first direct has launched fdpay that enables P2P payments within social media apps. http://tinyurl.com/y9u54kr2

Customers can use the in-app PayKey technology to tap a payment icon on the phone’s keyboard within a conversation and manage a payment without having to open the banking app.  fdpay can be used within any messaging app that uses the phone’s keyboard.

 

smart2pay has launched a Mobile SDK, enabling in-app payments for cards, Wechat and Alipay. http://tinyurl.com/ydcaya7c

The new release enables Merchants to integrate additional payment options directly into their mobile application much more quickly.

 

Wirecard is expanding its cooperation with Google Pay. http://tinyurl.com/ycfeep89

Wirecard is making its mobile payment app boon available in Ireland, Spain and the UK, meaning boon will be available in the three countries on four digital payment platforms: Apple Pay, Fitbit Pay, Garmin Pay and Google Pay.

 

Apple launched Apple Pay in three new countries in Q4/18 — Germany, Belgium, and Kazakhstan — and says the roll out in Germany has been a huge success, with Deutsche Bank reporting more activations for Apple Pay in one week than for Android in an entire year’.

 

Discover and Garmin International have announced that Discover card members can now make payments using Garmin Pay.  http://tinyurl.com/ycmz2uev

Garmin Pay, which is powered by FitPay, is available on Garmin’s latest active lifestyle smartwatches.

 

WTO talks on e-commerce launched by 75 countries. http://tinyurl.com/y9z7uch4

The World Economic Forum in Davos saw the European Union and 47 other members of the WTO decide to start negotiations to put in place global rules on electronic commerce with the aim of producing a multilateral legal framework.

 

DIGITAL/RETAIL BANKING

Monzo is partnering with Flux to enable customers to collect digital receipts and loyalty points. http://tinyurl.com/y8twfyue   https://www.tryflux.com/

Flux will be available within the Monzo app for Monzo customers who shop at Flux enabled merchants.

 

ACQUIRING/PROCESSING

Wirecard has launched an API Management and Developer Portal. http://tinyurl.com/y9v7u8nl

Designed to facilitate customers’ integration with the Wirecard digital platform it will also provide sandbox facilities for developers within companies that do not yet work with Wirecard to plan potential implementations.

 

TSYS has announced that it is to continue processing for KBC Bank Ireland. http://tinyurl.com/yc8nvkt6

KBC has extended its agreement with TSYS to continue processing the bank’s credit and debit card portfolios.

 

Curve, after initially failing to do so successfully in 2016, announced that it reached the point of offering Amex in Open Beta. http://tinyurl.com/y7x2wuwq

At least 500 Amex cardholders spent more than £1m via Curve in testing since the end of November with strong levels of positive feedback claimed.

However, 24 hours later, Curve posted that Amex functionality was suspended for reasons beyond its control. Curve Blog http://tinyurl.com/ycl58aav giving chapter and verse of the whole story.

 

SWIFT has announced a proof-of-concept to trial gpi Link, a gateway to interlink e-commerce and trading platforms with SWIFT gpi. http://tinyurl.com/y73dp7ll

gpi Link will connect gpi members to multiple trade platforms enabling gpi payment initiation, end-to-end payment tracking, payer authentication and credit confirmation for cross-border payments. The first stage of the PoC will work on R3’s Corda blockchain platform and aims to bring the benefits of gpi payments’ speed, ubiquity and certainty to DLT-enabled trade.

 

ISSUING

Millennium bcp has started issuing UnionPay cards and rolling out the UnionPay QuickPass payment service. http://tinyurl.com/y87zyn44

The bank aims to issue more than 200,000 UnionPay cards to its customers in Portugal over the next five years, the first European bank to do so.

 

Paysafe is now a Principal Member of Visa, allowing it to issue Visa prepaid cards in Europe and expand its card issuing service.  http://tinyurl.com/ydcepxb8

 

TokenCard has announced a partnership with Contis to issue TokenCard Visa debit cards in the UK and EEA. http://tinyurl.com/y7fhlyhj

Users will be able to convert Ethereum and other ERC-20 tokens to load GBP and EUR on their debit cards to spend wherever Visa is accepted globally.

 

FRAUD/SECURITY

The Department for Business, Energy & Industrial Strategy is launching a strategy to ‘Design out’ cyber threats to businesses and personal data. http://tinyurl.com/y7ove8mn

£70m in government investment will be made through the Industrial Strategy Challenge Fund that will be backed by further investment from industry. The investment will support research into the design and development of hardware to make it more secure and resilient. A further £30m will aim to ensure smart systems are safe and secure.

 

Fido has issued a report examining the state of strong authentication in 2019. http://tinyurl.com/y8ewg77d

The report, The State of Strong Authentication 2019 draws conclusions on the role strong authentication is playing in protecting accounts and securing access to valuable data and critical systems.

 

PSD2/OPEN BANKING

TrueLayer has launched its Open Banking-based payments API in public beta. http://tinyurl.com/ya9d3dgy

The app works with all the CMA9 with TrueLayer saying it expects to release an updated API later in 2019 which will add features such as future dated payments, standing orders and batch payments.

 

Savings fintech Raisin has announced an Open Banking partnership with Santander. http://tinyurl.com/y7ckye74

The agreement allows customers to authorise the bank to share with Raisin defined account data, smoothing the registration process for Santander customers to access Raisin’s products through the “Santander Connect”button.

 

FICO has published a survey: PSD2 Strong Customer Authentication – What Do Consumers Think? http://tinyurl.com/y7mvk7se Infographic http://tinyurl.com/yd73pyhv

The survey indicates that customers had concerns about many factors that could get in the way of a successful authentication and prevent them from completing transactions e.g. One in five respondents say they will refuse to give their mobile number.

 

API Evaluation Group: achievements, challenges and looking ahead. http://tinyurl.com/ybtzcox3

 

INSTANT PAYMENTS

ACI Worldwide has announced that it is supporting instant payments in Hungary. http://tinyurl.com/yc2pntpd

IT services company T-Systems and Hungarian processor Takarékinfo will utilize ACI’s UP to enable 17 Hungarian banks to offer real-time payments services as part of their digital transformation projects.

 

CORPORATE ACTIVITY

Reuters has reported that MoneyGram International is exploring strategic alternatives, including a sale. http://tinyurl.com/ybeffjnw

Moneygram needs to restructure its $902.8m of debt and its share price has dropped 83% since the deal with Ant Financial collapsed in January 2018.

 

Atos is planning to distribute c23.4% of the share capital of Worldline. http://tinyurl.com/yb76pflc

The plan says Atos would retain around 27.4% of Worldline’s share capital and, as a consequence, Worldline’s free float would increase from its current 22.3% to approximately 45.7%. The proposal, which includes the maintenance of the existing industrial and commercial partnership under an Atos-Worldline Alliance, will see Atos reinforcing its focus as a leading digital pure player and Worldline benefiting from a strengthened equity profile and enhanced ability to pursue consolidation opportunities.

 

First Data is reported as joining with AIB to bid for Dublin-based Payzone.  http://tinyurl.com/y9qm3f4z

With a figure of €100m+ being mentioned, the talks have apparently been ongoing for months. It is not clear if the bid has been mounted under the existing FMBI joint venture, or a separate vehicle.

 

Stripe has raised $100m in a funding round, valuing the company at $22.5bn. http://tinyurl.com/y7ugqug4 (Last para)

It will use the capital to continue to scale internationally, deepen its platform, and add new services and features for larger users.

 

Wirecard has issued a Statement on a Financial Times article that suggests ‘potential market manipulation’ by the PSP. http://tinyurl.com/y9eflzg4

Wirecard says the article is ‘inaccurate, misleading and defamatory’ and denies any fraudulent transaction has taken place.

BaFin is investigating the situation.

 

Visa and MasterCard have won preliminary approval for their second attempt at settling antitrust allegations in the US. http://tinyurl.com/yc7o69sb

The credit card companies will pay between $5.56bn and $6.26bn under the deal.

 

GDPR

ICO Blog: How will personal data continue to flow after Brexit? http://tinyurl.com/y9t2663a

The blog challenges some of the misconceptions about what a ‘no deal’ Brexit will mean for UK companies transferring personal data to and from the EEA.

 

EPC/SEPA

The EPC is calling for experts for a Multi-Stakeholder Group on Request-To-Pay.  http://tinyurl.com/yba9pzk4

The objective of the group is to analyse and prepare the concrete and rapid exploitation of the RTP functionality from a broader perspective with a target date of November 2019.

 

REGULATION (Competition)

EC Speech by Margrethe Vestager – New technology as a disruptive global force.   http://tinyurl.com/ybao9v2a

The speech covers the role of online platforms and the future of platforms and competition.

 

REGULATION (Regtech)

The FCA has announced that global sandbox for innovative firms is now open to applications. http://tinyurl.com/ycsajrxy

The Global Financial Innovation Network (GFIN) is an international network of organisations committed to supporting financial innovation in the interests of consumers chaired by the FCA. The pilot tests will provide a more efficient way for innovative firms to interact with regulators across the world, as they look to scale new ideas.

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