RBS is to enable customers using its MasterCard credit cards to lock/unlock them when mislaid. http://tinyurl.com/ydamzpx3
NatWest research indicates that 62% of UK residents use apps to save time. http://tinyurl.com/y9z7kqjo
However, c16% say they feel they are missing out on the full benefits of apps due to a lack of confidence and knowledge.
Intesa Sanpaolo is starting to support Apple Pay in Italy. http://tinyurl.com/y87lh5o9
Huawei has said that Huawei Pay will launch in key European markets as it extends its global partnership with Visa. http://tinyurl.com/y8tuyvyn
ABN Amro has announced the launch of Tikkie Fast Checkout. http://tinyurl.com/yanultaw
The new API enables customers to pay with just three clicks when using online checkouts. Customers only need to enter their address details the first time they place an order, and will be able to order with just one click on any subsequent visits.
WeChat Pay will enable merchants to offer Chinese tourists in Russia payment at POS while Google Pay will give more choice to online merchants.
Meanwhile Wirecard is supporting Alipay and WeChat Pay acceptance at c50 locations in Stuttgart. http://tinyurl.com/yax5e9yk
Russian mobile operator MTS has joined forces with MTS Bank and Mastercard to introduce a virtual credit card. http://tinyurl.com/y84jssfl
Claiming to be the first of its type in Russia, it enables users to make online purchases POS payments in retail outlets through smartphones.
Instagram is introducing more ways to shop on its platform. http://tinyurl.com/yaefre56
After introducing product stickers in September users now have three new ways to discover new products, shop from their favourite brands and keep track of all their shopping links in one place.
Klarna has announced the launch of Boost to provide SME merchants with funding. http://tinyurl.com/ycmun6s2
Boost now live across 7 markets has a simple and straightforward application process, which enables merchants to access funding through Klarna’s Merchant Portal. The loan is repaid through a fixed percentage deduction from daily settlements.
Monzo is planning to launch a business current account. http://tinyurl.com/y7u5snl9
It will be seeking funding from the RBS Alternative Remedies Package to aid development.
equensWorldline has launched its TIPS Gateway. http://tinyurl.com/yb382drr
With several internationally operating tier 1 and tier 2 banks going live in the first half of 2019, the gateway will provide a single interface for Instant Payments
The PSR has opened its consultation for Confirmation of Payee (CoP).
While the technical standards have now been agreed in work coordinated by Pay.UK and are ready for implementation, the PSR wishes to consult on whether regulatory intervention is needed to require banks and PSPs to implement CoP ASAP.
Amazon has suffered a data breach through a technical issue that inadvertently posted customer names and email addresses to its website. http://tinyurl.com/ybbbs6ny
Amazon says the issue was not a breach of its website or any of its systems and has contacted affected customers. It does not see the need for passwords to be changed but some experts disagree.
Christopher Woolard, Executive Director of Strategy and Competition at the FCA has given a speech covering the Conclusions from the Cryptoassets Taskforce. http://tinyurl.com/y7ukm264
As a result of the findings the FCA, HM Treasury and the Bank of England are each taking a number of steps over the coming months to address the harms identified and to encourage future beneficial innovation.
PayPal has announced that it has completed the c$400m acquisition of Hyperwallet. http://tinyurl.com/yd8vpwht
The transaction will strengthen PayPal’s payout capabilities and enhance its ability to provide an integrated suite of ecommerce payment solutions.
SEPA Scheme rulebook updates – the updated 2017 EPC SEPA scheme rulebook versions have been published for SCT, SCT Inst, SDD Core and SDD B2B effective 1 January 2019 http://tinyurl.com/y9xm8g6u alongside (confusingly) those for 2019 that come into effect on 17 November 2019. http://tinyurl.com/y92b9rfz
The UK Treasury has published its Interchange Fee (Amendment) (EU Exit) Regulations 2018: draft statutory instrument (SI). http://tinyurl.com/ycj599kh
HMT are consulting on its proposed amendments to the retained RTS Regulation adopted under Article 7 of the EU Interchange Fee Regulation for on shoring purposes. These amendments are designed to ensure the RTS Regulation can still operate effectively once the UK has left the EU. The draft instrument is still in development and is not final.
The CMA is investigating suspected anti-competitive arrangements in the financial services sector. http://tinyurl.com/y9np665h
The CMA states that the case is at an early stage and no assumption should be made at this point that competition law has been infringed.
Reuters is reporting that Visa and Mastercard have offered to reduce interchange paid by tourists visiting the EU. http://tinyurl.com/yb7ye989
Anne Cairns, Mastercard’s vice chairman, has dismissed fears of a return of credit card surcharging after Brexit, adding that Mastercard has seen an increase in transactions since the surcharging ban came into force in January 2018. http://tinyurl.com/y7mnql3l
The EU Sixth Anti-Money Laundering Directive (6AMLD) has been published in the published in the Official Journal with a transposition date set of 3 December 2020. http://tinyurl.com/yd2gvual