10 May 2019

10th May 2019
  • Digital & eCommerce
  • Acquiring/Processing
  • Cross-Border payments
  • Instant Payments
  • Innovation
  • Fraud & Cybersecurity
  • Open Banking & PSD2
  • Corporate Activity
  • Regulation

DIGITAL and eCOMMERCE

The BRC-KPMG Retail Sales Index for April ‘below expectation’. http://tinyurl.com/y6xhbyrj

Not helped by Easter timing distortions, Online sales of Non-Food products grew 4.3%, against a growth of 6.7% in April 2018, accounting for just under 30% of all non-food sales.

 

The UK Government website has begun accepting Apple Pay and Google Pay for certain services. http://tinyurl.com/y6lut2dc

Currently four services on the GOV.UK website are included in an initial trial, mainly to do with immigration services.  Iit is planned to roll mobile payments across further central government services, and later this year make it available for local government, police and NHS organisations.

 

Facebook is looking to drive a global expansion of mobile payments on WhatsApp. http://tinyurl.com/y3lahvhe

Based in London, a new group of staff will develop a payments function for WhatsApp as well as products that focus on safety and combating spam. Although it has been testing payments in India, the development there has been delayed by regulatory disputes and concerns about malicious content.

 

PFS, following its recent launch of Garmin Pay, has now gone live with Fitbit Pay in the UK.  http://tinyurl.com/y3d4lvlk

Customers of PFS can now add their Mastercard prepaid card to their device, enabling them to make contactless payments on the go.

 

Alipay, Adyen and Klarna are partnering to enable shoppers at AliExpress, part of Alibaba Group, to use Klarna’s ‘Pay later’ solution.  http://tinyurl.com/y6hufdt3

The move will give AliExpress’ shoppers in Germany, the Netherlands, Austria and Finland the choice of deferring payment at checkout. Further markets will be added throughout the course of the year.

 

Google Pay has announced it is now be available in Switzerland.  http://tinyurl.com/y5sd35l6

Google Pay will be rolled out to customers of Cornèrcard, Bonuscard, Swiss Bankers, Revolut and boon.

 

Wirecard is supporting Orange Money in Romania to enable contactless payments. http://tinyurl.com/y3b3suw6

The technology is available with physical and virtual Orange Money debit cards, smartphones, as well as Fitbit and Garmin smartwatches.

 

Ingenico Group has launched LinkPlus, a solution for businesses who handle payments over the phone. http://tinyurl.com/y4v346xy

The solution enables online businesses to support payments through a link or QR code, removing the need to manually process unsecured credit card details or banking information.  LinkPlus provides an interface to a secure hosted environment, where a card payment can be completed with full PCI-compliance and without any sensitive data being stored on the premises.

 

ACI Worldwide is rolling out new mobile wallet payment and loyalty capabilities. http://tinyurl.com/yy4q55rd

Now part of ACI’s UP portfolio, the new capabilities allow consumers to view bills from their Apple Wallet or Google Pay and make payments from their smartphones. The new capabilities are linked to ACI’s acquisition of Speedpay from Western Union that includes the Walletron business.

 

ACQUIRING/PROCESSING

FusionPay is supporting WeChat Pay and Alipay transactions in the UK.   http://tinyurl.com/yxwr7456

FusionPay new partnerships include Cath Kidston, Watches of Mayfair, Bicester Village and restaurants including Café Wolseley and Bao London.

 

Safecharge is also rolling out support for the two Chinese apps in Beauchamp Place.  http://tinyurl.com/y456leal

 

JCB and Viva Wallet have signed a joint licencing agreement enabling JCB cards to be used across Europe.   http://tinyurl.com/y4h7mdwz

From 2020 JCB card members will be able to use a JCB online and at POS in Greece, the UK, Romania, Belgium, Cyprus, France followed by Italy, Germany, Poland, the Netherlands, Portugal and Spain. Apart from JCB’s global card members, in particular about a million Russian tourists per year will enjoy comprehensive JCB acceptance in Greece.

 

CROSS-BORDER PAYMENTS

Western Union is expanding its Western Union Business Solutions’ suite of products to SMEs in Ireland.  http://tinyurl.com/y4nhzsg7

Apart from cross-border services WUBS provides protection from adverse forex market developments while also giving the flexibility to tailor strategies to specific requirements, hedging objectives and risk appetite.

 

INSTANT PAYMENTS

EBA CLEARING has announced that six Finnish banks are now connected to RT1.  http://tinyurl.com/y2hbllfq

Bonum Bank, Central Bank of Savings Banks Finland, Danske Bank A/S Finland Branch, OP Corporate Bank, Svenska Handelsbanken and Nordea Bank will be joined by further banks in the coming months, giving RT1 nearly full coverage across Finland. RT1 currently has 47 participants from 19 different countries with over 2,300 participants.

 

INNOVATION

Orange Bank in France has recently introduced a Visa Premium card with dynamic CVV.  http://tinyurl.com/yxhtf9te

The premium card features an LCD screen on the back of the card, which displays a new CVV every hour, offering security for both online and offline purchases.

 

FRAUD & CYBERSECURITY

The PSR has published its follow-up consultation for Confirmation of Payee (CoP)   (CP19/4)

Responses to the original consultation have been published separately as CP18/4. http://tinyurl.com/y4vfmjtp

Having reviewed the feedback this latest consultation sets out a revised proposal alongside the legal text of the proposed direction.

The PSR proposes giving a specific direction to members of the six largest banking groups in the UK, who are involved in around 90% of bank transfers, to fully implement CoP by 31 March 2020. It expects the remaining PSPs to bring in this important protection at the earliest opportunity, and will keep this under review.

 

OPEN BANKING & PSD2

NatWest is working with Tink to integrate its PFM and data enrichment technology into the bank’s mobile app.   http://tinyurl.com/y3facs58

The move, that will see the light of day later in the year, will enable NatWest to provide customers with personalised advice based on transaction history.

 

CORPORATE ACTIVITY

The Secure Trading Group has been acquired out of administration by a PE consortium co-ordinated by CORDET Capital Partners. http://tinyurl.com/y3u9demm

Secure Trading Limited, Secure Trading Financial Services Ltd (t/a Acquiring.com) and Secure Trading Inc will come under the umbrella of a new holding entity and will operate under the brand name of Tru//ST Payments Limited.

 

Mastercard is to acquire Transactis, a US based bill delivery platform.  http://tinyurl.com/y5sowkqa

Mastercard will use the company’s technology to bolster its Mastercard Bill Pay Exchange offer. The platform allows consumers to use their existing banking apps to set up all billers, receive notifications when a bill is due, see bill details, and manage multiple bills in one place including specifying when and how much to pay. It is offered to banks and credit unions through a set of APIs.

 

Visa Inc. has announced it has acquired control of Earthport.   http://tinyurl.com/yxjzvml2

Visa says Earthport’s technology will allow it to expand and scale Visa Direct’s portfolio of use cases, including funds disbursements, peer-to-peer payments, cross border payments, marketplace payouts, and bill payments.

The confirmation follows an announcement from the CMA that it had decided that the deal does not qualify for investigation.  http://tinyurl.com/yxpso7ys

 

BBVA is being reported as pulling out of a full bid for Atom Bank.   http://tinyurl.com/y6bd4z7m

Atom is apparently talking to about a new £50m funding round after BBVA opted not to exercise an option to acquire the remainder of the shares it did not hold before it expired at the end of April, partly due to Brexit uncertainty.

 

REGULATION (UK Competition)

The CMA and the Gambling Commission have concluded the investigation into the online gambling sector. http://tinyurl.com/yym9a4ob

As a result the CMA has obtained written undertakings from six operators: Ladbrokes, William Hill, PT Entertainment, BGO, Jumpman Gaming and Progress Play including the commitment to cease certain practices, which the CMA considered “unfair” or otherwise contrary to consumer law.

 

The CMA’s Andrew Tyrie has made a speech about protecting and promoting the consumer interest in the modern economy.  http://tinyurl.com/y4ufvjnn

The speech says a fundamental rethink of the principles and purpose of competition law and policy is required to keep pace with the digitisation of business.

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