6 September 2019

6th September 2019
  • Digital & eCommerce
  • Acquiring/Processing
  • Issuing
  • SME Finance
  • Trade Finance
  • Digital & Retail Banking
  • Open Banking & PSD2
  • Fraud & Cybersecurity
  • Blockchain/DLT/Cryptoassets
  • Corporate Activity
  • EPC/SEPA

DIGITAL and eCOMMERCE

ING is working with supermarket chain Albert Heijn and US AiFi on a cashierless store trial.  Dutch PR   Video posted on PSE website

Users gain access by scanning their debit card, with cameras and ‘smart shelves’ tracking purchases and automatic payment on exit. The concept is similar to Amazon Go but does not require an app.

 

Amazon has begun testing biometric payments.

The technology uses “depth geometry” to digitally process the shape and size of an individual’s hand, which will be linked to the individuals Prime and bank accounts. Biometric sensors have been installed on a handful of vending machines at Amazon’s New York office, which its staff can use to pay for snacks. There are plans to roll-out the new payment technology to several Whole Foods stores by the beginning of 2020.

 

The European Mobile Payment Systems Association (EMPSA) has been formed by seven mobile payment providershttps://empsa.org/

EMPSA initially covers Belgium (Bancontact Payconiq), Germany and Austria (Bluecode), Denmark and Finland (MobilePay), Portugal (SIBS/MB WAY), Sweden (Swish), Switzerland (TWINT) and Norway (VIPPS). More countries and mobile payment systems are expected to join the association over the next months.

The move follows Alipay’s announcement in June of new partnerships with six European mobile wallets that included Bluecode and VIPPS

 

Divido is now processing transactions in the French market.

Coinciding with the opening of its new office in Paris, Divido’s POI lending platform is already live and connecting national lenders with multinational retailers in France.

 

ACQUIRING/PROCESSING

TSB is working with Square to make card payments more accessible for SMEs.

The partnership will provide credit and debit card processing for small business owners and will also give owners free Square POS software to support their businesses.

 

Trustly is to provide Alibaba.com’s European customers with online banking payments via Ingenico.

Trustly’s payment solution will provide an additional payment method for Alibaba.com’s European buyers. During its initial stage, Alibaba.com will launch Trustly’s bank payments in 16 European markets.

 

Wirecard has signed a MOU with Brightstar.

The MOU’s aim is to foster collaboration on consumer lending, payment acceptance processing and card issuing. Wirecard will handle the Brightstar’s digital financial services on its platform. Brightstar’s parent company, SoftBank Group, is also a strategic partner of Wirecard.

 

TrustPay is introducing an upgraded version of its payment gateway.

The new payment gateway eliminates customer redirection to a new payment page and enables merchants to customize and modify the gateway’s design.

 

Concardis has launched SmartPay, a payment solution for SMEs.

An all-in-one solution providing card terminal, card acceptance and fully digitalised and integrated tools with auto-onboarding. Designed specifically to simplify F2F payments for SMEs in the DACH region, roll-out will begin in Germany. Concardis has meanwhile had a brand makeover with the adoption of the colours and corporate design of the Nets Group.

 

TAB (The App Business) is partnering with Judopay to provide its clients with mobile payment capability.

The new partnership will give TAB teams the ability to enable frictionless mobile payment experiences.

 

ISSUING

SIBS has launched new Biodegradable PVC cards.

Representing a more sustainable alternative to traditional PVC and reducing environmental impact, the cards are now available for order.

 

SME FINANCE

Stripe has announced the launch of a finance offer for SMEs – Stripe Capital.

Stripe Capital aims to provide access to fast, flexible financing that helps online businesses invest in growth. Eligibility is determined solely on a merchant’s history with Stripe, has a flat fee and repayment adjusted by daily sales turnover.

 

TRADE FINANCE

Mastercard has joined the trade and working capital finance Marco Polo Network.

Mastercard Track™, a B2B global trade enablement platform and the blockchain powered Marco Polo Network are will provide more businesses with trusted access to Marco Polo’s trade and working capital finance solutions. Mastercard Track reduces the time it takes for businesses to identify, vet and onboard new trading partners – and simplifies the end-to-end payment process.

 

DIGITAL & RETAIL BANKING

The Board of Banking Competition Remedies Ltd (BCR) has published the first update from Pool A recipients; a summary of performance against their public commitments.

Detailed updates cover Metro Bank, Starling Bank and ClearBank.

 

Dozens, a start-up EMI, is partnering with Visa and Clearbank.

The partnerships are aimed at reducing reliance on TPPs that are currently supporting some of the fintech’s processes. It will also enable Dozens to offer new features including direct debits, standing orders and virtual cards. The Visa debit card will replace the existing MasterCard and customers will get a new account number and sort code.

 

OPEN BANKING & PSD2

The FCA has updated its guidance on SCA for regulated firms.

This is partly an iteration of items covering ecommerce already published in August but includes a new section on ‘Applying SCA to online banking’ that, in certain circumstances, gives firms an adjustment period until 14 March 2020 to implement SCA. ASPSPs should keep existing screen-scraping channels available during the adjustment period. This means not applying SCA to access accounts online during this period. The guidance also covers use of eIDAS certificates.

 

The European Hospitality Sector (HOTREC) has called on NCAs to delay the enforcement of SCA.

The industry association points out that hospitality is a cross-border industry with a high-share of cross-border payments. Diverging approaches and deadlines for SCA implementation between Member States would inevitably lead to valid transactions being rejected due to differences in the stage of preparation of the main players in the payment ecosystems when established in different countries.

 

Nordic API Gateway has gained a PISP license from the Danish FSA.

Nordic says it is preparing to launch a multi-purpose payment solution that will enable consumers to perform instant and tailored account-to-account payments in any digital service. It launched its payments services API in August and has European growth plans for the future.

 

Salt Edge has added another one hundred to the list of its connected open banking APIs in the EU.

The fintech has already integrated with 400+ banks across Europe with more planned. It operates globally, enabling TPPs to get access to Account Information and Payment Initiation channels via a unified API gateway together with PSD2 compliance.

 

SWIFT has published a new API standard for the Pre-authorisation of funds.

The new standard allows a payer’s bank to earmark funds for a purchase in advance, guaranteeing that the future payment will be honoured. The new Pre-authorisation standard is now available for developers of APIs to adopt and use. It follows the publication of a Pay Later API standard earlier this year.

 

FRAUD & CYBERSECURITY

FCA Speech – The fight against skimmers and scammers.

Largely about investment and savings fraud. Includes call for non-financial firms i.e. ‘internet giants’ that enable fraud to step up their contribution to the fight against it.

 

BLOCKCHAIN/DLT/CRYPTOASSETS

The European Parliament has published an answer from the EC regarding a question relating to Libra.

The EC has two workstreams: (i) for crypto-assets that are covered by EU rules and (ii) for crypto-assets that are currently not covered by EU legislation as it seeks not to stifle innovation while assessing the merits of a possible common regulatory approach at EU level. Both strands should report by April 2020. On Libra the EC is monitoring developments from an EU regulatory perspective and assessing its risks.

 

Margrethe Vestager comments reported by Reuters.

 

Yves Mersch SpeechMoney and private currencies: reflections on Libra.

Final paragraph reads: “I sincerely hope that the people of Europe will not be tempted to leave behind the safety and soundness of established payment solutions and channels in favour of the beguiling but treacherous promises of Facebook’s siren call.”

 

The DNB says it is to start supervision of Crypto operators in January 2010.

The Central Bank is required to start supervising these businesses under AMLD5 and its implementation into Dutch law. Firms offering services for the exchange between cryptos and regular money, and crypto wallet providers must register with the DNB. Board members and some shareholders will need to be assessed as part of the process.

 

CORPORATE ACTIVITY

Ipagoo has been bought out of administration after the FCA withdrew its e-money licence.

The offer is being made by Chairmans Financial Limited, an international holding company focussed on licensed financial services.

 

EPC/SEPA

Operational implications of a “no-deal Brexit” on SCT and SDD transactions.

The EPC confirms the continued participation of the UK in the two payment schemes in the event of a “no-deal Brexit” and provides recommendations to all SEPA payment scheme participants regarding dealing with UK based transactions as it becomes a non-EEA country.

 

Article – Electronic invoicing- gathering pace

 

 

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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