BRC – KPMG Retail Sales Monitor July 2018. http://tinyurl.com/y8qqu6te
Online sales of Non-Food products grew 7.5% in July, against a growth of 8.3% in July 2017. Online penetration rate increased from 22.4% in July 2017 to 24.1% in July 2018.
Samsung Pay is now being supported by Cornercard. https://www.cornercard.co.uk/news/news2
The B2B prepaid card specialist is now offering customers the ability to use their compatible Samsung device to purchase goods and services.
itsu is launching a Flux paperless receipts trial across all its UK stores. http://tinyurl.com/y7gbsntp
Customers paying with cards issued by Flux partner banks who have opted-in to Flux, will receive digital receipts directly into their banking apps when they shop at itsu. Flux’s bank partners currently include Barclays Bank via their Launchpad app, Starling Bank and Monzo Bank (in closed pilot).
Headlines are that the share of consumer cashless payments has increased 10 times since 2008 and the share of card payments in purchases of goods and services was 39% in 2017 and 45% in Q1/18.
Stripe is introducing a Partner program. http://tinyurl.com/ox4so8p
Registering for the Stripe Partner Program is free but Partners can also choose to become a Stripe Verified Partner to get additional benefits.
Microsoft Pay is now available with Masterpass. http://tinyurl.com/y8efjhp9
U.S.-based consumers using the latest Microsoft Edge browser on Windows 10 devices can now sign in to their Microsoft account and use Microsoft Pay to make secure purchases wherever Masterpass is accepted online.
Discover is introducing more features and introducing a new debit card design for its Discover Cashback Debit product in the US. http://tinyurl.com/y8pjouyx
It looks as if Discover has had the same idea as Starling Bank with the introduction of a vertical card.
SWIFT has announced that it has been certified by the Eurosystem to provide connectivity to TIPS. http://tinyurl.com/yb9558do
SWIFTNet Instant, which will be launched in November 2018 when TIPS goes live, will offer seamless connectivity to CSMs. Access will initially be to TIPS and RT1.
INNOPAY Onboarding Benchmark Q2/18. http://tinyurl.com/yargglwh
The benchmark suggests the Dutch incumbent banks are close to bridging the gap with the challenger banks. It also appears that many onboarding features that were once considered as innovative have now become more mainstream and new standards on what is competitive result.
CYBG has selected The ID Co. to launch its first Open Banking solution. http://tinyurl.com/y9fqrblu
CYBG has integrated the DirectID Open Banking Platform into the Bank B mobile banking app to support its aggregation service.
Intercontinental Exchange (ICE) has announced that it plans to form a new company, Bakkt, which intends to leverage Microsoft cloud solutions to create an open and regulated, global ecosystem for digital assets. http://tinyurl.com/y9gkvaf6
Bakkt is working with organizations including BCG, Microsoft, Starbucks, and others, to create an integrated platform that enables consumers and institutions to buy, sell, store and spend digital assets on a seamless global network.
Starbucks subsequently announced this did not mean it would be accepting bitcoin in its stores.
Visa has announced an investment and partnership with Israeli start-up, Behalf. http://tinyurl.com/y7fua6fo
Behalf provides working capital solutions for small businesses and flexible financing for business purchases. Visa will offer Behalf’s small-business clients a tokenized Visa Virtual Cards. This partnership supports Visa’s global strategy to extend its products and capabilities to small businesses through collaborations with start-ups and FinTechs.
Zopa has announced it has raised £44m in a further funding round. http://tinyurl.com/y9kelbvy
The funds will be used to support the capital needs for the next generation bank it has been building.
The FCA is collaborating with 11 other Authorities to create a ‘global sandbox’. http://tinyurl.com/y7g8ltj7
The Global Financial Innovation Network (GFIN) will seek to provide a more efficient way for innovative firms to interact with regulators, helping them navigate between countries as they look to scale new ideas.
Ingenico Group has launched a AI payment-enabled chatbot that reduces the steps consumers have to take in order to complete purchases. The chatbot incorporates Ingenico’s secure payment API, enabling customers to purchase products and services within a messaging app’s chat function, bringing an end-to-end customer experience to the chat platform and enhancing conversion rates for merchants.