9 November 2018

9th November 2018
  • Mobile/Contactless and omni-Commerce
  • Digital/Retail Banking
  • Acquiring/Processing
  • Remittances
  • Payments infrastructure
  • Fintech
  • Corporate Activity
  • Blockchain/DLT/Cryptocurrencies
  • Regulation

MOBILE/CONTACTLESS and omni-COMMERCE

BRC – KPMG Retail Sales Monitor October 2018. http://tinyurl.com/y9v4jm6w

Online sales of Non-Food products grew 7.6% in October, against a growth of 4.0% in October 2017, the lowest growth of 2017.

 

Barclays has launched a free app-based invoicing platform for its SME customers. http://tinyurl.com/yarytrvu

Sitting within the Barclays Mobile Banking app, it will enable SMEs to create and send invoices from their smartphone. It will also enable them to track, manage and reconcile invoices as well as check when payments are due and when they are made.

 

Natixis Payments is supporting the SNCF Group in its development of a Personal Mobility Assistant app. http://tinyurl.com/y9lb8dgd

The PMA seeks to provide rail users with a single payment solution that will enable them to research, book and confirm their travel arrangements.

 

SIA and Intesa Sanpaolo are supporting Jiffy mobile payments at Carrefour Italia.  http://tinyurl.com/y8zjl889

 

Erste MobilePay, Erste Bank Hungary’s mobile wallet, has received a significant upgrade.  http://tinyurl.com/yc6e3k6u

New capabilities include the storage of loyalty cards and PFM functionality.

 

DIGITAL/RETAIL BANKING

RBS has launched its standalone SME digital entity Mettle in beta. http://tinyurl.com/yc3kezox

The Mettle current account is an e-money account provided by Prepay Solutions http://tinyurl.com/yd3pkzcx that provides a sort code, account number and payment card; instant invoicing; and the option to add receipts to transactions and track expenses through a mobile app.

 

Lloyds Banking Group has announced a strategic partnership with fintech Thought Machine and taken an £11m, 10% stake in the company. http://tinyurl.com/ydgw9uf8

The aim is to accelerate the digital transformation of the bank’s business using Thought Machine’s innovative banking technology that includes Vault, a cloud-native next generation banking platform. Lloyds has been working with Thought Machine to develop the capabilities of Vault and will enter into a development and deployment phase in 2019.

 

ACQUIRING/PROCESSING

Worldline is partnering with hospitality marketplace HotelsPro and Paytrek for end-to-end payment solutions. http://tinyurl.com/y9ntqzsm

Paytrek acts as a reseller of Worldline’s payment terminals and acquiring services, allowing travel agents and hotel customers to access a comprehensive booking payment solution.

 

Ixaris, supported by Visa in Europe, has announced the launch of a range of payment products that target the global travel sector. http://tinyurl.com/yadu5al2

Visa will provide virtual card technology to enable Ixaris to offer a range of travel payment solutions.

 

Cardstream is to process Diners International and Discover cards to support greater acceptance in the UK and expand its own offer.

Cardstream claims to be the only independent white label payment gateway provider in the UK.

 

Allied Wallet has enabled its NextGen Payment Gateway to support MyBank, Cartes Bancaires, E-Carte Bleue, CASHWAY, and YouPass. http://tinyurl.com/ya5tla97

 

REMITTANCES

TransferWise has announced a new partnership with Amsterdam-based challenger bank bunq. http://tinyurl.com/yamx6rj7

 

PAYMENTS INFRASTRUCTURE

Norge Bank Speech – Challenges for the payment system. http://tinyurl.com/ydbd3t9d

Primarily focusses on instant payments and the associated infrastructure and gives a Central Bank view on the various initiatives within the Nordics to put in place cross-border payment entities – mobile apps merger and P27. Not quite as straightforward as perhaps thought. Also covers Cybersecurity, DLT and CBDCs.

 

FINTECH

Tech Nation’s Fintech Delivery Panel, in association with the BSI has launched new guidance to improve engagement between fintech companies and financial institutions. http://tinyurl.com/y7fwgf24  PAS Guidelines http://tinyurl.com/yblf8lrk

The purpose of the PAS is to lay out guidance for fintechs that will help them understand, prepare for and more easily navigate the path to forming successful engagement with large FIs. In addition it can provide a foundation document around which fintechs, FIs and regulators alike can discuss ways to improve and streamline the process to enhance the UK’s position and benefit customers.

 

ECB – Digitalisation and its impact on the economy: insights from a survey reflecting the views of 74 leading non-financial companies. http://tinyurl.com/yabokepj

The main aim of the survey was to look at how digital transformation is affecting macroeconomic aggregates, as perceived by firms. The take-up of big data and cloud computing is pervasive across all sectors, as is the use of e-commerce. In the manufacturing and energy sectors, artificial intelligence, the “internet of things”, robotics and 3D printing are almost equally widespread.

 

BLOCKCHAIN/DLT/CRYPTOCURRENCIES

Speech Banque de France: Where do crypto-assets fit into our payment system? http://tinyurl.com/ycmnfmys

Uncertainty over the future of crypto-assets in the world of payments does not relieve us of the need to regulate their development, given the attendant risks. Adopting a framework that protects participants in the real economy will help to increase their confidence in the mechanisms associated with crypto-assets, thereby promoting growth in the new assets. The intrinsically digital and global nature of crypto-assets means however that a coordinated international approach must be taken to avoid creating an opportunity effect.

 

CORPORATE ACTIVITY

Eurocash has sold terminal network provider PayUp Polska to Polskie ePłatności for PLN110m. http://tinyurl.com/y958bodl

PayUp supports a network of 15,500 POS in stores affiliated in partner and franchise networks organized by the Eurocash Group.

 

Zopa has raised £60m with its largest funding round to date. http://tinyurl.com/yapgd77d

Zopa will use the funds to provide the capital required for its planned next generation bank. It is currently applying for a banking licence from the FCA.

 

REGULATION

The Bank of England has launched its online Future Forum – ‘Let’s Decide the Future of Money’.  http://tinyurl.com/y75q3vqp

“We want to hear your views on the future of banking, Fintech, cyber resilience, climate change and savings.”

Latest News Round-up

14 December 2018

Industry Videos

Central 1, a Canadian credit union, is trialling an authenticated Voice Banking Service using Amazon Alexa.

Contact Us