30 November 2018

30th November 2018
  • Mobile/Contactless and omni-Commerce
  • Remittances
  • Authentication
  • Acquiring/Processing
  • Digital/Retail Banking
  • Fraud/Security
  • Open Banking
  • UK Payments Infrastructure
  • Card Schemes
  • Blockchain/DLT/Cryptocurrencies
  • Litigation
  • Regulation

MOBILE/CONTACTLESS and omni-COMMERCE

Mastercard survey indicates 80% of the European citizens use their mobile devices for making purchases. http://tinyurl.com/yd4syolx

In the UK and Germany 47% of mobile phone users shop once a week or more against a European average of 39% with mobile shopping now accounting for 24% of the total shopping volume.

 

BNP Paribas Fortis is now supporting Apple Pay for its customers in Belgium alongside those of Hello bank! and Fintro. http://tinyurl.com/y8fdzruc

 

Wirecard has launched a digital global loyalty solution. http://tinyurl.com/y75yru6f

The cross-border solution facilitates loyalty programs that can be run across different countries and currencies through one platform, enabling merchants to offer customers the ability to use their smartphone to redeem digital points or vouchers.

 

REMITTANCES

MoneyGram is extending the availability of its MoneyGram.com platform to seven new European countries. http://tinyurl.com/y8owal9j

Customers in Estonia, Finland, Latvia, Lithuania, Malta, Slovakia and Switzerland can now send money to over 2bn bank accounts and mobile wallets or to any MoneyGram location in more than 200 countries and territories.

 

AUTHENTICATION

Zwipe and Tappy Technologies have announced a biometric enabled wearables payment Partnership and Licensing Agreement. http://tinyurl.com/y73sjgzx Backgrounder http://tinyurl.com/y9t4odqz

Tappy Technologies will use Zwipe’s core intellectual property to enable biometric authentication for wearables such as watches and bracelets.

 

ACQUIRING/PROCESSING

Elavon has announced a strategic deal with bpost to provide payment services across c650 locations in Belgium. http://tinyurl.com/y7a2mfy2

Elavon will be providing acquiring processing for both card present and eCommerce transactions.

 

EVRY has announced it has won an outsourcing contract with Bankgirot for payment platform operations. http://tinyurl.com/ycy55kd3

The agreement represents total contract value of approximately SEK700m and runs for a period of seven years with effect from 10 December 2018.

 

equensWorldline has won a 5 year contract to process de Volksbank’s Multi-Currency Payments. http://tinyurl.com/yd3gkr57

The decision by Volksbank to outsource parts of its back-office payments processing is driven by rapidly changing customer demands and the accelerating digitalization of the payments arena.

 

Australian based Isignthis has announced it has completed its Tier 1 integration to access both Visa and Mastercard directly. http://tinyurl.com/y7tnahs9

The implementation will allow it to process card transactions within the EU/EEA as a standalone acquirer. Diners, Discover, China UnionPay and Amex are in the pipeline to further augment ISXPay’s offer.

 

AirPlus and Booking.com are partnering to provide a booking and payment offer for corporates and their travellers. http://tinyurl.com/yaxtktjg

The offer is via a new integration in the Booking.com for Business platform that will enable, corporate customers using AirPlus A.I.D.A. Virtual Cards to generate an individual Mastercard number for their employees to pay for accommodation.

 

DIGITAL/RETAIL BANKING

Atom Bank has agreed a multi-year partnership with Lloyds backed fintech Thought Machine. http://tinyurl.com/y9ojltxl

Atom will to place its next generation of personal and business banking products onto Thought Machine’s cloud-native Vault platform that aims to help banks replace legacy core systems.

 

FRAUD/SECURITY

The EPC 2018 Payment Threats and Fraud Trends Report has been published. http://tinyurl.com/ycttnmqe   Report http://tinyurl.com/ya7p2elc

The report attempts to create awareness in order to allow stakeholders involved with payments to decide on possible mitigating measures to address threats.

 

FCA – Cyber and technology resilience in UK financial services – speech by Megan Butler. http://tinyurl.com/y7lqxgot

The speech is based on the results of a survey on Cyber and Technology Resilience. http://tinyurl.com/y9h54fbu

The surveyed covered 296 firms during 2017 and 2018 to assess their technology and cyber capabilities. It looked at key areas such as governance, delivery of change management, managing third-party risks and effective cyber defences.

  • According to the survey, nearly half of firms do not upgrade or retire old IT systems in time
  • Only 56% of firms say they can measure the effectiveness of their information asset controls.

 

PCI SSC has published an updated version of the Special Interest Group information supplement Protecting Telephone-Based Payment Card Data.  http://tinyurl.com/yad9fbmb Advice paper http://tinyurl.com/ybompt2a

The new guidance explores the potential risks and security challenges associated with telephone-based card payment environments.

 

OPEN BANKING

KPMG Report: UK SMEs: A prime battleground for Open Banking. http://tinyurl.com/y7ftwmtl  Report http://tinyurl.com/y88bhc5u

A survey indicates that opinion is polarised and UK SMEs fall under three distinct types of customers, each with different appetites for Open Banking. The report explores these customer types and identifies the strategies most likely to persuade them to adapt, pay for, or switch supplier to access Open Banking services.

 

Accenture – Open Banking survey: Impact on SMEs & corporates. http://tinyurl.com/y7nc4c9o Report http://tinyurl.com/ybyd8rhe

Accenture surveyed 650+ small and large businesses and 100 global banks to obtain views on Open Banking for the corporate sector.

Most large banks said that providing Open Banking services for their commercial clients is a key strategic initiative in their digital transformation programs.

 

UK PAYMENTS INFRASTRUCTURE

Bank of England – Transforming our payments infrastructure – speech by Victoria Cleland. http://tinyurl.com/ybdbelh4

The speech concentrates on CHAPS and RTGS renewal.

 

The Bank of England, Pay.UK and the PSR have published a response to the consultation on the adoption of ISO 20022. http://tinyurl.com/ydx4hpn9  Response paper http://tinyurl.com/y8qvpv2x

There were over 70 responses to the consultation which were largely supportive of the proposals with a broad consensus to introduce the Common Credit Message. The envisioned change timeline for ISO 20022 as part of the renewal of the Bank’s RTGS sees Phase 3, when all CHAPS Direct participants should migrate to the enhanced ISO 20022 message, as happening in H1/23.

 

CARD SCHEMES

Discussions are under way to allow the use of China’s UnionPay credit cards in Russia and Russia’s Mir cards in China. http://tinyurl.com/yd592qnd

 

BLOCKCHAIN/DLT/CRYPTOCURRENCIES

Mobey Forum has published a report outlining the most important and influential developments across the virtual currencies industry. http://tinyurl.com/y8ynxlx6

Entitled ‘What Banks Need to Know About Virtual Currencies Right Now’, the report shines a light on some of the factors that banks and financial institutions should consider when taking their first steps on the road to creating their own strategic approach.

 

LITIGATION

Merricks v MasterCard Inc & ors

The Court of Appeal has held that it has jurisdiction to consider an appeal against a refusal by the Competition Appeal Tribunal (CAT) to make a collective proceedings order under section 47B of the Competition Act 1998. This will allow the class action appeal to go forward. http://tinyurl.com/yb8saxs6

 

REGULATION

The CMA has found that PayPal’s takeover of Swedish start-up iZettle could lead to higher prices or reduce the range of services for customers. http://tinyurl.com/yccx46px

The CMA says that if the merging businesses are unable to address the CMA’s concerns, the merger will be referred for an in-depth Phase 2 investigation.

 

The EC has opened an investigation into airline ticket distribution services. http://tinyurl.com/y95e7rzb

The investigation, which covers the activities of Amadeus and Sabre, focuses on possible restrictions in competition in the market including whether certain terms in Amadeus’ and Sabre’s agreements with airlines and travel agents may restrict their ability to use alternative suppliers.

 

Online platforms: Commission sets new standards on transparency and fairness. http://tinyurl.com/yblfj8fa

The EC is proposing new rules for online platforms with the aim of creating a fair, transparent and predictable business environment for smaller businesses and traders when using them.  See also memo and factsheet .

 

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