Internet sales increased by 9.1% for the amount spent in September 2019 yoy but were down 2.0% on August. Online sales as a proportion of all retailing was 19.1% in September 2019, compared with 19.5% in August.
Expenditure fell through both F2F (-4.5%) and eCommerce (-0.6%) channels.
The cloud-based, customisable solution provides integrated payments, customised menu items together with tracking of live sales, staff hours, tipping and streamlining of ordering, serving, and payment.
The move introduces the usual 3 check-out payment options.
Paysafecard has announced it is now available in Iceland.
This is the 49th country where the eCash product is available.
The Android NFC mobile payments service uses French fintech Antelop Solutions’ digital payments and tokenisation platform. The bank plans to expand its service to customers in Bulgaria and Serbia.
The partnership will see Divido offer Split’s monthly instalment payment solution to its customers. Splitit’s omnichannel and cross-border instalment solution is available as an additional payment method for Divido merchants and customers initially in the UK and US.
The “Your Gateway to China” service enables Swiss retailers to offer products directly to Chinese consumers through major virtual marketplaces with the integration supporting Alipay and WeChat Pay.
The standardised WAY4 Acquiring Start software kit runs in the cloud or on-premises and provides preset merchant services and tariff plans, POS and mPOS acceptance, out-of-the-box reporting and billing, and PA-DSS compliance.
Users can now use China UnionPay cards to pay fares using the contactless barriers at 150 stations with all stations to be covered in early 2010.
American Express has announced an updated Corporate Program in the US.
The Corporate Program will roll out a set of flexible tools and solutions designed to make business travel more efficient, help ease the task of expense management. It will include a set of new and enhanced benefits.
Amex is also launching a custom offering under The Corporate Program for Startups as they continue to rapidly scale and grow their businesses.
The Opinion sets the deadline to 31 December 2020 and prescribes the expected actions to be taken during the migration period. The EBA recommends NCAs take a consistent approach toward the SCA migration period across the EU and require their respective PSPs to carry out the actions set out in the Opinion. It also recommends that NCAs communicate to PSPs that the supervisory flexibility they have exercised does not represent a delay in the application date of the SCA requirements.
There are now 180 regulated providers made up of 116 TPPs and 64 account providers, with 53 regulated entities that have at least one proposition live with customers. The OBIE says it continues to see significant growth in account information usage.
The company’s survey of 2,000 consumers and 200 retailers covering the UK, Germany, France, and Spain, found that nine out of ten retailers believe consumers are ‘somewhat’ or ‘very aware’ of PSD2. However, 76% of consumers report that they haven’t even heard of it.
Its three key principles are that initiatives must: Provide strong consumer protection; Deliver a level playing field for all stakeholders; Operate in full compliance with all applicable laws and regulations. Mastercard continues to believe in the transformative power of blockchain.
The G7 working group on Stablecoins has published a report – Investigating the impact of global stablecoins.
Chaired by Benoît Cœuré, the working group report finds that stablecoins, regardless of size, have implications ranging from anti-money laundering efforts across jurisdictions to operational resilience (including for cyber security), consumer/investor and data protection, and tax compliance. Global stablecoins may amplify those challenges and could also pose challenges to competition policy, financial stability, monetary policy and, in the extreme, the international monetary system.
New features to be introduced over the next year will include an in-app marketplace and AI to automate customer processes.
The key findings indicate that ML is increasingly being used in UK financial services and that, in many cases, ML development has passed the initial development phase, and is entering more advanced stages of deployment. Regulation is not seen as a barrier with respondents saying that while ML does not necessarily create new risks, it could be an amplifier of existing ones. The BoE and the FCA have announced plans to establish a public-private group to explore some of the questions and technical areas covered in the report.
The award of the contract concludes the Competitive Procurement process and secures the provision of LINK’s critical infrastructure until 2031.
The French payment processor that specialises in supporting marketplace platforms will use the funds to develop new features and expand into the UK, Germany and The Netherlands.
The Fintech start-up has developed a new payment system for purchasing services and products online with cash, using the physical network of banknote readers and coin acceptors with which vending machines are equipped. The solution replaces the current ‘physical’ key with a digital wallet installed on the users’ smartphone and topped up with cash, using coin or banknote acceptors, credit cards or PayPal that can then be used to make purchases. The new capital will allow MatiPay to speed up its international growth.
The company has hired JPMorgan to raise $500m in new equity plus a $1bn convertible loan.
The Israeli Capital Market, Insurance and Savings Authority has drafted a series of digital payments guidelines to open up payments competition.
The guidelines will allow non-banking entities “to enter and develop alongside the existing banking players in the market” and hopefully grow the fintech market. They are also likely to impact the issue of banking competition.
Users gain access by scanning their debit card, with cameras and ‘smart shelves’ tracking purchases and automatic payment on exit. Similar to Amazon Go but does not require an app.