14 December 2018

14th December 2018
  • Mobile/Contactless and omni-Commerce
  • Cross-Border payments
  • Acquiring/Processing
  • Biometrics
  • Digital/Retail Banking
  • Fraud/Security
  • UK Payments Infrastructure
  • Corporate Activity
  • Regulation

MOBILE/CONTACTLESS and omni-COMMERCE

Barclays has introduced a new feature within its mobile banking app enabling customers to ‘turn off’ spending with certain types of retailers. http://tinyurl.com/ycsqfh2n

Five core retailer groups have been identified: Groceries and supermarkets; Restaurants, takeaways, pubs and bars; Petrol and diesel; Gambling (to include gambling websites and betting shops) and Premium rate websites and phone lines. A button within the app gives customers a choice of which they wish to control.

 

Amazon is reportedly looking at a site near Oxford Circus in central London for its first Amazon Go store in the UK. http://tinyurl.com/y9k2mvbs

 

Barclaycard on the importance of restaurants’ social feeds and websites. http://tinyurl.com/y7qujujo

Apparently 41% of us post pictures of our restaurant meal on social media and 18% would like light filters built into table tops to enhance the images.

 

Apple Pay launches in Germany.  http://tinyurl.com/y7bvj64d

Some fifteen banks and services are in on the launch with a further nine banks promised in 2019.

Wirecard is there with boon. http://tinyurl.com/y7bvxvbx

 

Google Pay is now being supported by Wirecard in France.  http://tinyurl.com/y79yw9p8

Also by Lydia. http://tinyurl.com/yd53s7hz (In French)

 

Lydia is also launching an instant credit offer with Banque Casino. http://tinyurl.com/yaed53rj

The integration will enable users to borrow up to €1,000 almost instantly.

 

Vipps in Norway and ePassi in Finland have entered into a partnership with Alipay to use its QR technology. Vipps http://tinyurl.com/yad6y55j  ePassi http://tinyurl.com/y8k7jt35

 

Sberbank is to enter the POS lending market with a new product, Purchase on Credit. http://tinyurl.com/yd26xzqq

The new offer, initially for loans, will be available via the Purchase with Sberbank lending marketplace, allowing users to apply for POS loans to buy goods and services on Sberbank’s partners’ websites.

 

CROSS-BORDER PAYMENTS

MoneyGram continues to digitalise its offer with a new mobile app. http://tinyurl.com/y93kwcwf

Now available in the US and 14 European countries, the app offers biometric identification, location finder, transfer tracking, plus exchange rates and fee estimates.

 

Western Union meanwhile has announced it is working with TerraPay to enable mobile wallet and bank account payouts. http://tinyurl.com/y7owzpb6

Leveraging TerraPay’s mobile payments switch the move expands Western Union’s account payout network for sending remittances directly into customers’ mobile wallets

 

ACQUIRING/PROCESSING

Ingenico Group, post the announcement in November of its strategic partnership with Sberbank for online acceptance of MIR cards,  is now offering domestic processing and cross-border settlement for international payments. http://tinyurl.com/y7yb2j8b

By partnering with Russia’s leading acquiring banks – including Sberbank – Ingenico is able to process payments for the majority of Russian issued cards ‘On-Us’.

 

Cardstream is to make Mastercard’s SRC-ready Masterpass V7 wallet and ‘Pay by Bank app’ available via API connections to its gateway. http://tinyurl.com/y98o4ewx

 

BIOMETRICS

The EPC has posted the results of poll on biometric authentication technology adoption for payments in the coming 5 years. http://tinyurl.com/y74awvhm

60% of voters agreed that multiple and fingerprint scanning technologies have the greatest potential. Facial recognition only got 11%

 

DIGITAL/RETAIL BANKING

Revolut has obtained a banking licence in Lithuania that will allow it to passport into the EU. https://tinyurl.com/y9fyev9c

The company expects to rollout new features in the UK, France, Germany, Lithuania and Poland in the near future as a result. However, it may have to seek a UK licence if there is a disorderly Brexit.

 

FRAUD/SECURITY

Vocalink, with Pay.UK’s Faster Payments team, has announced the launch of the anti-money laundering Mule Insights Tactical Solution (MITS). http://tinyurl.com/y8wllw9w

Following a successful pilot the solution enables suspicious payments to be tracked as they move between bank and building society accounts regardless of whether the payment amount is split between multiple accounts, or those accounts belong to the same or different financial institutions.

 

CB has launched an Alerts portal, developed with Ethoca. http://tinyurl.com/ybej24kl

The portal enables ecommerce merchants to work with card issuing banks in near-real-time by providing them with an early warning of cardholder confirmed fraudulent transactions via notifications from the CB Alert service.

 

Mastercard research of a small group of online merchants across Europe revealed that 75% of them are potentially unaware of the implementation of EMV 3DS next year linked to PSD2 SCA. https://tinyurl.com/y7f55wtu

Despite these changes, only 14% of the sample group already support SCA, with 51% of them stating they will be ready after September 2019 or have zero plans to support it. Mastercard is rolling-out Mastercard Identity Check – a next generation, PSD2 compliant, authentication solution based on EMV 3DS.

 

ACI Worldwide has announced a collaboration with BioCatch. http://tinyurl.com/y7fyzgv3

The move combines ACI’s UP Payments Risk Management solution with BioCatch’s real-time behavioural assessments to identify a wide range of cyber threats without disrupting the user experience.

 

PPRO Group has joined Banking Circle. http://tinyurl.com/yalwyuhc

The partnership will see PPRO using Banking Circle´s accounts in multiple currencies and gaining access to various local clearing methods.

 

UK PAYMENTS INFRASTRUCTURE

Pay.UK has posted 10 Q&As on Confirmation of Payee. http://tinyurl.com/ydeszend

The answers focus on many common questions that arose from stakeholders involved with Pay.UK in developing the design of the proposition, along with the rules and standards for the service.

 

CORPORATE ACTIVITY

Boku has agreed to pay $112m for Danal, Inc in the US.  http://tinyurl.com/ybxd4tmc

Boku says that the acquisition creates the global leader in mobile identity and authentication solutions driven by real-time connections to MNOs and proprietary third-party data sources.

 

REGULATION (PSD2)

The EBA has published an Opinion on the use of eIDAS certificates under PSD2. http://tinyurl.com/yc22c9uo  Opinion http://tinyurl.com/y8hlqear

A detailed and technical opinion responding to feedback from the industry that sought clarification on: (i) the use of QSealCs or QWACs, including which PSPs should choose the type of certificate to be used, and (ii) the use of single and multiple eIDAS certificates.

 

Following the EBA Opinion on eIDAS the Department for Digital, Culture, Media & Sport has also published a statutory instrument – The Electronic Identification and Trust Services for Electronic Transactions (Amendment etc.) (EU Exit) Regulations 2018. http://tinyurl.com/y7r6rdhq  Explanatory Memorandum   http://tinyurl.com/yd3o32sz

The eIDAS Regulation sets out the legal framework and specifications for eIDAS products and services. It covers two related but essentially separate subject areas – electronic identification and trust services.  The electronic identification sections of the eIDAS Regulation are being repealed, as they will not be relevant as a result of the UK’s exit from the EU, but the trust services are being retained.

 

REGULATION (Acquiring)

The PSR has issued an update on its market review into the supply of card-acquiring services. http://tinyurl.com/ycpk5pfl

The final terms of reference promised for December will now not be published until the beginning of 2019.

 

REGULATION (Competition)

The CMA has published its draft Annual Plan and is seeking views on its priorities for 2019. http://tinyurl.com/yc4tl3ou

One of its priorities is to promote better competition in online markets, retaining a strong interest in how the digital economy is developing, and protecting people from illegal and unfair practices online.

 

REGULATION (VAT/PSPs)

EC Council members have agreed new reporting rules for eCommerce involving a new VAT system. https://tinyurl.com/yad77z4w

The EC proposals seek to establish better cooperation between tax authorities and PSPs such as credit card and direct debit providers, including a new role for online marketplaces in the fight against the €1.2bn VAT fraud via bogus online stores.

 

REGULATION (Cybersecurity)

The EBA has launched a consultation on its draft Guidelines on ICT and security risk management. http://tinyurl.com/ybejfqw6

The Guidelines establish requirements for credit institutions, investment firms and PSPs on the mitigation and management of their ICT risks and aim to ensure a consistent and robust approach across the Single market.

Latest News Round-up

21 June 2019

Industry Videos

New technology in banking

The latest ING International Survey indicates Europeans are wary of new technology in banking, despite a high demand.

New technology, such as facial and voice recognition, is giving more options than ever before, but despite these advances, acceptance is far from complete with 65% of Europeans having never used fingerprint or voice recognition to log into their banks’ app.

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