The BRC-KPMG Sales Index shows Online sales of Non-Food products grew 3.7% in July, against a growth of 7.5% in July 2018.
The 3-month and 12-month average growths were 3.1% and 4.7% respectively. Non-Food Online penetration rate increased from 28.4% in July 2018 to 29.8% last month.
Otto and ECE have formed JV Stocksquare to link stores in ECE shopping centres with Otto’s online platform.
The JV between two members of the Otto Group will see the integration of the store networks of brick-and-mortar retailers in ECEs 90 German shopping centres with the Otto.de platform.
Stocksquare will enable consumers to reserve items online to pick up at a centre shop or to purchase items that will be delivered from the shopping centre. A riff on omnichannel.
UnionPay International claims overseas issuance has reached 120m cards.
UnionPay’s service now covers 174 countries and regions. In 2018, the transaction volume of UnionPay cards issued outside mainland China increased by c40% year-on-year.
OBIE reports that it has recently been receiving a number of queries from TPPs seeking advice on obtaining eIDAS certificates. Some have clearly had rather difficult and/or frustrating experiences. However, recent conversations OB has had with a number of QTSPs indicate that the process is rapidly maturing.
SCA to be delayed by a further 18 months in the UK?
A report in the FT has spawned multiple copycat articles elsewhere. We await the promised announcement next week by the FCA, based on recommendations resulting from work undertaken by UK Finance.
The Bank of Italy has announced that it will grant more time to the Italian financial industry to complete SCA compliance preparations.
The move is in line with the EBA’s guidance and mirrors the FCA’s position in the UK. PSPs will need to make a request for an extension and submit a detailed transition plan, including communication and customer preparation initiatives, both on the merchant and cardholder sides.
Experian’s Open Data Platform processed more than 20m of the 49.1m API requests made in April. The number of API requests made in the UK has more than doubled since February and Experian expects the level of growth to continue at c25% month on month.
Computop has announced a new PSD2 compliant biometric authentication service – Biometrics by Computop.
With Biometrics by Computop, merchants can take over responsibility for SCA by processing the biometric authentication of their customers in advance, avoiding the necessity for banks to apply their own two factor authentication. Computop’s service complies with the secure FIDO standard (Fast Identity Online) and is suitable for PSD2 compliant SCA in online retail.
UK Finance reports that the Industry-funded fraud squad dismantled 13 criminal gangs in H1/19
ICO has joined other data protection authorities in calling for more openness about the proposed Libra digital currency and infrastructure.
A statement to Facebook and 28 other companies behind the project asks them to provide details of how customers’ personal data will be processed in line with data protection laws. It asks for assurances that only the minimum required data will be collected, that the service will be transparent, and requests details of how data will be shared between Libra Network members.
The ECB has published an article – Understanding the crypto-asset phenomenon, its risks and measurement issues.
The article discusses the crypto-asset phenomenon with a view to understanding its potential risks and enhancing its monitoring.
Verrency and Coinify have announced a partnership to enable Bank customers to spend virtual currency at any merchant.
The partnership enables virtual currency assets to be securely used at any merchant and be offered to bank customers across existing rails and payment methods. Verrency’s middleware platform will enable banks to integrate virtual currency funding sources and digital wallets.
Nets has agreed to sell its account-to-account payment business to MasterCard for €2.85bn. Mastercard PR.
The transaction supports Nets’ European strategy to focus on its merchant services and processing businesses. It gives MasterCard additional account-to-account capability alongside Vocalink, Transfast, and Transactis, boosting its real-time assets. While the deal covers Nets’ clearing, instant payment services and e-billing solutions it does not include its e-ID and Digitisation services.
Klarna has raised $460m in an equity funding round giving it a market valuation of $5.5bn.
This makes Klarna the largest private fintech in Europe. The funds will be used to help Klarna continue its expansion in the US, where it is currently growing at six million new customers a year and already supports 3,000 merchants.
Alongside the announcement is another advising an expansion of its relationship with ASOS.
KKR is to acquire a majority shareholding in heidelpay Group from its existing majority shareholder AnaCap Financial Partners.
Mirko Hüllemann, founder and CEO of heidelpay, and other key managers will remain as long-term shareholders. heidelpay currently serves more than 30,000 retailers and marketplace operators, focusing on SMEs and corporates. Financial details of the transaction have not been disclosed but the FT reports the price as €600m.
Amex starts to leverage its acquisition of Resy with new offers.
Amex has announced it has completed its acquisition of Resy, a restaurant reservation booking and management platform, which will underpin the continued expansion of the Resy network and digital platform, as well as the development of new offers. The latter includes the hosting of Resy’s Women of Food series on London.
Ipagoo has gone into administration and has had its e-money licence withdrawn by the FCA.
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.