18 April 2019

18th April 2019
  • Digital & eCommerce
  • Acquiring/Processing
  • Fraud & Cybersecurity
  • Biometrics
  • Digital/Retail Banking
  • Open Banking & PSD2
  • Corporate Activity
  • Litigation
  • European Payments
  • Regulation

DIGITAL & eCOMMERCE

ONS Retail sales, Great Britain: March 2019. http://tinyurl.com/y6lrka6n

Online sales increased by 12.4% yoy and increased as a proportion of all retailing to 18.6% from the 18.1% reported in February 2019.

 

Visa‘s UK Consumer Spending Index – March 2019. http://tinyurl.com/y3mareqb

The Index shows a slight fall in Face-to-Face spend (-0.7%), with eCommerce expenditure rising by +0.5%, the first increase in spend through this channel for three months.

 

Klarna is launching a financial management content hub – Mindful Money – to support UK consumers.  http://tinyurl.com/y33b6ztb

Mindful Money provides tried and tested tips and ideas from hand-picked third party contributors on managing money and spending responsibly. Content on Mindful Money will be published under three ‘pillars’ of money management — Saving, Spending and Living.

 

The Beat the Receipt campaign (led by Flux) is partnering with leading UK retailers to reduce the waste and environmental impact of paper receipts. Petition http://tinyurl.com/y53rqfqb

 

Eurostar is now offering travellers Google Pay in a claimed world first for any international rail company. http://tinyurl.com/y6pf9cvf

Travellers using Google Pay on Android L or higher devices can now simply save their mobile ticket to Google Pay from the Eurostar app, and proceed directly to ticket gates at Eurostar stations for a more seamless start to their journey.

 

Apple Pay to be available for Uber Eats. http://tinyurl.com/y6o84h6g

European countries to be included in the roll-out: Belgium, France, Ireland, Italy, Poland, Portugal, Spain, Sweden, Switzerland and the UK.

 

Facebook is closing its P2P money transfers via Messenger in Europe.  http://tinyurl.com/y2p4ao97    Announcement http://tinyurl.com/y3wqh6m7

The service, which had been rolled it out in the UK and France, will end on June 15. It would seem the US service will remain active.

 

ABN Amro’s Tikkie app is claiming 5m users. http://tinyurl.com/y4v2sptq

Tikkie’s business market recorded the biggest growth in the past four months, doubling from 2,000 clients at the end of 2018 to 4,000 now.

 

ACQUIRING/PROCESSING

Wirecard has launched a ’Fully digital Next Generation Financial Commerce Platform’.  http://tinyurl.com/yyevq9n9

With a fully digital registration process and immediate access to a Wirecard business account, the platform supports omni-channel payment acceptance with real-time crediting promised for the future via a linked bank account and debit card.

 

Wirecard and O2 are extending their joint mPOS project in the Czech Republic and expanding the scope to include Slovakia.  http://tinyurl.com/yykqarp4

Wirecard provides acquiring, payment processing and compliance checks, with O2 assuming responsibility for  onboarding merchants.

 

Mastercard has announced an upgrade to the back office experience for commercial cardholders by providing enhanced data for Amazon Business transactions.  http://tinyurl.com/yy9d2kbp

The service gives detailed data on each line-item including item description, price and relevant tax information for all Amazon Business purchases.  Currently available in Germany and the UK for Mastercard commercial cards issued by Bank of America Merrill Lynch, Barclays Bank PLC, Citi, J.P. Morgan, Lloyds Bank, NatWest and The Royal Bank of Scotland.

 

UnionPay’s QR code payment service is to be supported for Chinese tourists visiting Turkey by DenizBank.  http://tinyurl.com/y2zhu365

The service will be available in 35,000 merchants by the end of the year. DenizBank ATMs already accept UnionPay cards.

 

FRAUD & CYBERSECURITY

The TSB has announced a Fraud Refund Guarantee.  http://tinyurl.com/y3j83cem

The guarantee provides protection from unauthorised transactions on customer accounts or to customers tricked into authorising payments to fraudsters. TSB is the first to act in the UK to provide such a guarantee.

 

EMVCo, FIDO Alliance, and W3C have formed an Interest Group aimed at enhancing the security and interoperability of web payments.   http://tinyurl.com/y67jtsdb

The Group has been created to better understand and shape the future of secure web-based payments, and ensure alignment of the work of the three technical bodies.

 

BIOMETRICS

NatWest has added biometric Face ID or Touch ID payment authorisation to its Bankline Mobile app for business and commercial banking customers.  http://tinyurl.com/y2fq6cmu

The new feature also allows businesses to authorise multiple users to setup payments, which business owners can then subsequently approve on the go through their app. Available for iOS now with Android to follow later in the year.

 

DIGITAL & RETAIL BANKING

FIS has published a 2019 edition of its PACE Study. http://tinyurl.com/yym55fr6

FIS Performance Against Customer Expectations (PACE) findings provide a snapshot of how customer expectations of banking providers are evolving and how emerging technologies are driving these changes. Available for US, UK, Germany and India.

In the UK 71% of all banking interactions are now digital or online. In addition, the majority of these are completed on a smartphone, tablet, or wearable device (47% vs. 41% in 2018) compared to only 6% of interactions which happen in a branch.

 

OPEN BANKING & PSD2

The ETPPA has been formed by bank-independent European TPPs to represent their interests.  http://tinyurl.com/y6lfdnhz

The ETPPA formalises the existing Future of European Fintech (FoEF) coalition into an official non-for-profit trade association under Belgian law.  Its founding members include Bankin’, Eurobits, PPRO, Sofort and Trustly.

 

Stripe has announced a series of updates in readiness for EU SCA and acquired Dublin-based Touchtech Payments.  http://tinyurl.com/yxzz9cqu

The new Payment Intents API enables businesses to design their own SCA-ready payment forms, and accept the best authentication methods through a single integration. The purchase of Touchtech gives Stripe access to its advanced authentication technology for credit card issuers. No price for the deal has been given.

 

CORPORATE ACTIVITY

Mastercard has announced the acquisition of POS finance provider Vyze. http://tinyurl.com/yy643qfq     Techcrunch http://tinyurl.com/yy8qj2st

Vyse delivers more choice to customers of how they pay at POS through alternative financing options.  The platform connects merchants with multiple lenders via APIs, allowing them to offer their customers a wide range of credit options online and in-store.

 

Just Eat has announced the acquisition of PoS provider Practi for £6.7m.  http://tinyurl.com/yxze7pmr

JustEat will integrate Practi’s technology into its Orderpads, providing restaurant partners with PoS, cash and card payment handling, inventory management, kitchen operation and employee management systems, all within a single software package across multiple devices.

 

AIB (75%) and First Data (25%) have formed a JV to purchase 95.9% 0f Payzone Ireland.  http://tinyurl.com/yyklkkdz

The value of the deal is €61m plus €25m of debt that will be settled by the JV on completion and c€11m of deferred consideration.

It brings a portfolio of more than 300,000 registered consumers in over 7,000 retail outlets using Payzone’s POS terminals.

 

Bankin’, a French aggregator start-up, has raised €20m in new funding.  http://tinyurl.com/y5ccvecr    Techcrunch http://tinyurl.com/yypdk3mt

Bankin’, that uses a combination of APIs and scrapping to connect to nearly all French banks, 85% of Spanish and British banks and 65% of German banks, claims 2.9m consumers for its money management and coaching app.

 

LITIGATION

The Court of Appeal has given the go ahead for Walter Merricks’ £14bn class action against MasterCard. http://tinyurl.com/yxb4u4n9

The Court of Appeal has granted permission to appeal. The original CAT ruling throwing out the claim will now be set aside.

 

EUROPEAN PAYMENTS

The ECB has published a new report that analyses the current state of card payments in Europe and reviews the Eurosytem’s policies.

Card payments in Europe – current landscape and future prospects: a Eurosystem perspective

It concludes that further action by various players to address outstanding issues hampering a SEPA for cards is much needed and

is committed to supporting the activities still needed to achieve that as soon as possible and to facilitating dialogue amongst market players.

 

The idea of a European payment system is also championed forthrightly by Burkhard Balz of the Deutsche Bundesbank in an interview published in “Handelsblatt” – “Europe needs to get off the sidelines”.  http://tinyurl.com/y6hvnxlf

 

REGULATION (UK)

The FCA has published its Business Plan for 2019/20, outlining the key priorities for the coming year. http://tinyurl.com/y2h6gbhc

 

REGULATION (Germany)

BaFin suspects Wirecard shares have been the subject of market manipulation. http://tinyurl.com/y3lmehgk

The manipulation has taken the form of a short-selling attack by around a dozen people.

 

REGULATION (Consumers)

The European Parliament has approved new rules that strengthen EU consumer protection. EP  http://tinyurl.com/yxeyfdv7     EC http://tinyurl.com/y4r5vpd8

Factsheet: Online platforms – new rules to increase transparency and fairness

The new law, already agreed with EU ministers, updates consumer rights for the internet age, ensuring consumers will have more information about how online rankings work and when they derive from paid placements. The revamped rules also aim to make the use of online reviews and personalised pricing more transparent for consumers, putting pressure online platforms such as Google and Amazon.

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