Ingenico’s payment platform will allow M&S customer to pay wherever and whenever they want using their preferred method and sales channel. The Ingenico solution will help M&S reduce its costs and PCI complexity and provide the retailer with better understanding of customer activity.
The PSR has published non-confidential versions of the responses to its consultation on its proposed approach to the merchant survey for the market review into the supply of card-acquiring services. 9 responses in all.
This is the first Alipay acceptance location in Hungary and the second collaboration of Worldline with Heinemann Duty Free after the launch of Alipay at Amsterdam Airport Schiphol.
Samsung Pay Cash is powered by a new virtual prepaid Mastercard and secured by MasterCard’s tokenization service. Samsung Pay Cash can be activated from the Samsung Pay app on all Samsung Pay-eligible mobile phones in the US.
The PBoC has approved PayPal’s, Ltd.’s acquisition of a 70% equity interest in Guofubao Information Technology Co. (GoPay) that holds a payment business license in China, allowing PayPal to be the first foreign player to gain access to the market.
Revolut says it will recruit 3,500 new staff to help Revolut expand from its current markets of Europe and Australia to open in the US, Singapore with Canada and Japan to follow. Expansion will then continue in LATAM and Asia. The agreement with Visa is not exclusive but will see at least 75% of all Revolut cards carry Visa branding rather than that of rivals.
Based on a digital wallet which links payment and loyalty, Wirecard will handle issuing and managing branded loyalty cards and apps together with all wallet transactions from its platform.
Dutch banks have completed the roll-out of instant payments.
ABN AMRO, ING, Rabobank, de Volksbank (ASN Bank, RegioBank, SNS) and Knab have now connected all their online and mobile banking customers to Instant Payments. Transfers between the seven Dutch banks have no limit on the amount that can be transferred, whereas elsewhere in the eurozone, Instant Payments are usually limited to €15,000 per payment.
Rakuten Viber in Hungary is to add a P2P feature “Moneytou” to its Viber instant messaging app.
Developed by NeoPay and planned to be available to customers of most Hungarian banks Moneytou uses MasterCard’s Send technology. Underlying acquiring/processing support is provided by Libra Internet Bank and Wirecard. After the initial rollout in Hungary, Rakuten Viber plans expansion to the 25m users of it apps in Ukraine, Romania, Serbia and Bulgaria.
Barclaycard Commercial Payments is launching Precisionpay Hub.
The new service aims to remove obstacles in the existing procurement process, making it easier for buyers and suppliers to interact.
Once a buyer has invited a supplier to join Precisionpay Hub, the supplier can request payment for goods and services directly through the platform. That payment request then goes through an approval process and, once approved, it is scheduled for payment using a Precisionpay virtual card or bank transfer.
Discover and JAGGAER have announced a new procure-to-pay solution.
The solution leverages JAGGAER’s spend management capabilities on its ONE platform linked to Discover’s Global Network. Discover will support payments on JAGGAER ONE Platform’s network of >2000 customers and 4m suppliers in 70 countries starting with virtual cards and followed by other payment options.
Under development, RTGS.global will be a global network for cross-border liquidity. Operating a 24/7/365, it will authenticate interbank real-time liquidity, matched to multi-currency payment instructions. Trials are set to begin in H1/20 with a select group of Central bank and commercial bank partners.
Finablr and Samsung Electronics America are introducing a Money Transfer feature in Samsung Pay.
The new in-app international money transfer service being launched first in the US and powered by Travelex, offers users seamless and secure cross-border payments to 47 countries. The service will be expanded to other markets in 2020.
Contis will use ClearBank’s real-time APIs to provide an additional clearing channel and extend the client options available within Contis’ payments platform.
The Threat Scan application simulates known fraudulent attacks on issuers and pinpoints authorization security weaknesses. As cyber criminals identify new ways to gain access into a system, the scenarios can be added to the range of tests and instantly ran against systems globally.
‘Tapping into Pockets of Growth’ outlines recent developments in the payments market globally and regionally, explores how retail providers should respond to ongoing digital disruption, and explains how wholesale banks can innovate from within and address the capabilities gap that exists between them and digital challengers. The report concludes that payments players that focus strategically on high-value opportunities will be best positioned to ride the current wave of growth and to capture an outsize share of its rewards.
PayPal joins Argenta, Belfius, BNP Paribas Fortis and ING in the Open banking initiative that gives customers access to all their bank accounts through the KBC aggregation app.
The neo-Bank will only offer € denominated accounts as it targets consumers who frequently spend money overseas or want a fee-free travel credit card.
Raisin.ie claims it offers best-in-market interest rates on most term deposits, moving Ireland out of last place on Europe’s retail interest rate ranking. The new savings platform is the first launched as a collaboration between Raisin Bank of Frankfurt and Raisin.
The announcement includes the launch of the Community Access to Cash Initiative to help local communities to identify and secure appropriate access to cash and payment services. It also flags five areas where UK Finance will be focusing on solutions and is calling for partners across a range of industries to engage in achieving them.
LINK, in a related move, is launching a new Community Access to Cash Delivery Fund.
The scheme sits alongside the existing model, which requires commercial operators to decide whether a site is profitable. Local communities can apply for a free ATM via their MP, the local council, or directly from LINK.
The new ‘Verify Account Name’ service will help protect TSB’s customers who are targeted by Authorised Push Payment (APP) fraud. The technology builds on Vocalink’s anti-money laundering solution, which enables suspicious payments to be tracked as they move between bank and building society accounts.
Trigo Vision has developed a cashierless system similar to Amazon G and is supporting Tesco’s exploration of the technology.
CashDash T/A Rapyd has secured US$100m in a Series C funding round.
The UK-based fintech-as-a-service platform will use the funds to develop its unified cloud-based technology platform that helps businesses integrate Fintech and payment capabilities into any commerce application. The funding will also be used to further build out the Rapyd Global Payment Network.
Worldline says that owning 100% of equensWorldline gives it an enhanced opportunity to set-up new strategic partnerships, notably in the processing business, and enlarge its options for its inorganic development. It now has maximum flexibility for executing its vision and consolidation ambitions.
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.