18th December 2015

18th December 2015
  • Mobile and e/m-Commerce
  • Contactless
  • Remittances
  • Payment Schemes
  • Digital Banking
  • M&A
  • Realtime Payments
  • Cashless Society
  • Consumer Behaviour
  • Blockchain
  • Regulation

MOBILE and e/m-COMMERCE

The IMRG Capgemini e-Retail Sales Index indicates online retail sales in November showed month-on-month growth of 40%.

http://tinyurl.com/q4n9oc3

Sales made on a smartphone device grew by 97% yoy with 32% of all m-retail sales being made from a smartphone in November

Eurostat latest on individual e-Commerce activity. http://tinyurl.com/zbqzdno

Issued as part of the EC push on the Digital Single Market.

ING has launched Twyp, a P2P payment app, in Spain.

http://tinyurl.com/opn6cxb

Transfers are made via a chat function and PIN confirmation. Also available in the Netherlands.

Trustly now linked to iDEAL. http://tinyurl.com/ozn4oy7

Wirecard is teaming up with Alipay to enable Chinese users to pay with their smartphone and Alipay app at authorised POS retailers in Europe.

http://tinyurl.com/zfh7lsr

Apparently the process will eliminate currency exchange fees.

Wirecard’s ‘boon’ is now available on Android smartphones in Spain and Ireland. http://tinyurl.com/h3z2yuu

This adds to the mobile app’s availability in Germany, Austria, Belgium and the Netherlands.

Adyen is now supporting Android Pay. http://tinyurl.com/h2qrsyw

Adyen is providing support both in‑app and in‑store.

Android Pay meanwhile launches in-app purchasing. http://tinyurl.com/pqxbfcc

The wallet system is also being introduced in Australia.

http://tinyurl.com/oadp6my

But no Apple Pay deal there yet. http://tinyurl.com/pnkg4hs

More Banks & Credit Unions are implementing Samsung Pay in US.

http://tinyurl.com/pemr3nj

Verifone has released its latest mPOS device.

Details at http://tinyurl.com/j6tupz6

 

CONTACTLESS

Barclaycard says 66% of merchants do not yet accept contactless.

http://tinyurl.com/pv3tzah

36% of merchants do not think they need to accept contactless payments, despite this being the preferred payment method for 48% of consumers!

 

REMITTANCES

Western Union is launching transactional websites in Bulgaria, Croatia, Romania and Slovenia. http://tinyurl.com/htmb5sl

The PR also mentions the launch of a new mobile app in France.

 

PAYMENT SCHEMES

A group of Russian banks has issued the first Mir national payment cards.

http://tinyurl.com/jd8k3eo

Central bank http://tinyurl.com/zhx665h

Seven banks have issued the card in the pilot programme.

 

DIGITAL BANKING

Atom Bank is to use face and voice biometrics as core credentials to log-in.

http://tinyurl.com/zojbatm

Using a combination of facial recognition, passcode and voice recognition, a customer will be able to do everything they need within the Atom app.

 

M&A

Trulioo, a provider of ID verification, has raised $15m financing from American Express Ventures and existing investors.

http://tinyurl.com/qcuaqk9

The company will use the funding to scale its business, including expansion of its sales team, technical infrastructure, and customer support as well as data acquisition.

Global Payments has confirmed the Heartland Payments deal is going ahead.

http://tinyurl.com/jcuq392

The $4.3bn acquisition brings Heartlands direct sales and technology-led distribution capabilities that will create a business with 2.5m merchants globally and net revenue of $3bn.

Payvision has announced a strategic investment and agreement with PayPlaza. http://tinyurl.com/jdnrw2h

This looks like a local Dutch move giving Payvision access to PayPlaza’s payment software development and POS/mPOS capabilities, creating an end-to-end payments ecosystem.

 

REALTIME PAYMENTS

Deutsche Bank Research paper ‘Instant revolution of payments? The quest for real-time payments’.

http://tinyurl.com/gm5bqvm

 

CASHLESS SOCIETY

The Swedish government has issued a statement saying ‘cash is scarce and cards are king’.

http://tinyurl.com/pjxe48v

For the report mentioned in the PR http://tinyurl.com/hcj9a6s

 

CONSUMER PAYMENT BEHAVIOUR

ECB Working Paper: How do speed and security influence consumers’ payment behavior?

http://tinyurl.com/ojspttb

Based on data from the US 2013 Survey of Consumer Payment Choice.

The paper is one of a number of academic papers presented at the 2015 Biennial retail payments conference. All the papers presented can be found at http://tinyurl.com/zpucodb

The Boston Fed has also published a paper on ‘Payment Instrument Adoption and Use in the United States, 2009–2013, by Consumers’ Demographic Characteristics’.

http://tinyurl.com/ok8jwl9

 

BLOCKCHAIN

Yet more banks join blockchain initiative R3. http://tinyurl.com/h7ty843

42 banks are now on board, including most of the world’s major global players.

Meanwhile the Linux Foundation has also announced a new grouping to work on the development of blockchain technology. http://tinyurl.com/p3evr2v

Again major banks signing up alongside other players such as IBM and Accenture and also R3. The collaboration is seeking to identify and address important features and currently missing requirements for a cross-industry open standard.

 

REGULATION

The ECB is raising queries about Ireland’s plans for charging stamp duty on ATM withdrawals announced in the Irish budget.  They have been included in the Finance Bill  and the ECB is concerned that  the 12c charge  for each withdrawal is effectively putting a tax on cash withdrawals and that the move could pave the way for other taxes on accessing cash, and also make cash transactions more expensive than electronic ones.

http://tinyurl.com/p5c2um5

The EBA has launched a consultation on its draft technical standards on the framework for cooperation and exchange of information between competent authorities for passporting under Article 28(5) of PSD2.

http://tinyurl.com/z3pcfm6

The technical standards will ensure that information about those payment institutions that carry out business in one or more EU Member States is exchanged consistently between the national authorities of the home and host Member States.

The PSR has published a report on access to payment systems and the way they are governed. http://tinyurl.com/ppgrljw

Report http://tinyurl.com/pyhyjrb.

The report finds that competition is growing, although further improvement is still needed.

This is going to be an annual report on the progress that the operators of the designated payment systems have made towards achieving:

• more open and flexible direct access to payment systems

• inclusive and more transparent governance arrangements

HMRC are extending their data-gathering powers to obtain data from business intermediaries who facilitate transactions, particularly online, and electronic payment service providers who operate digital wallets to help tackle the hidden economy. They instigated a consultation on the best way to implement these powers in July and have now published a summary of the responses. http://tinyurl.com/pqkyajw

Payments UK has initiated a SEPA IBAN-Only directory to help PSPs derive the BIC from the IBAN when processing SEPA payments. http://tinyurl.com/hfkn9b6

The French Government is looking to target prepaid cards, mobile money apps, digital currencies and transfer agencies in fight against terrorist funding. http://tinyurl.com/z66u6bo

Industry Videos

Dutch cashierless store trial

ING is working with supermarket chain Albert Heijn and US AiFi on a cashierless store trial.

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.

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