News Headlines 12 March 2021

12th March 2021

EBA publishes Consumer Trends Report

European Parliament seeks changes to online platform regulation

Pay.UK Report on future retail payment trends

Mastercard expands Engage platform

PayPal to acquire Curv

Stripe supports merchant revenue improvement

Klarna Report sets out BNPL positives

Australia sees BNPL industry Code

Mastercard identifies UK social shopping growth


The EBA has published its Consumer Trends Report for 2020/2021. Report

The Report identifies topical issues including irresponsible lending, creditworthiness assessments, and digitalisation, which the EBA has very recently addressed, as well as others, such as selling practices and access to bank account. Regarding payment services, payment cards continue to be the most widely used payment instrument in the EU. The Report observes an increase in the use of contactless payments during the COVID-19 pandemic, so no surprises there. Some useful summary graphics.


European Parliament: Better cooperation between national authorities on taxation of digital trading.

The European Parliament has recommended changes to the draft legislation aiming to more effectively trace and tax the sales that people make through online platforms.


Pay.UK have published a report exploring the key trends that are shaping the future of retail payments.

“Strategic trends: Retail payments in a future world” explores the key drivers of change in payments, underlying marketplace trends and what this could mean for how payments manifest themselves in 2030. Pay UK is also launching a Knowledge Hub, designed to encourage the industry to collaborate and innovate around challenges and topics to shape a shared vision for the future of UK payments. Pay.UK thinking has been fed into the recently published UK Finance paper Future Ready Payments 2030.


Mastercard is expanding the Engage platform to support the deployment of Mastercard Digital First solutions.

The Engage platform is aimed at offering users’ easy access to a growing network of qualified technology and fintech partners that can quickly deploy solutions, enabling the provision of entirely digital payment experiences for consumers.


PayPal Holdings has announced that it has agreed to acquire Curv.

PayPal says the acquisition will accelerate and expand its initiatives to support cryptocurrencies and digital assets. The Israel based fintech provides cloud-based infrastructure for digital asset security and will join the newly formed business unit focused on blockchain, crypto and digital currencies. PayPal expects to complete the acquisition in H1/21. Financial terms were not disclosed.


Stripe has helped Postmates to add $70+ million in revenue and save $3.3 million in network fees.

The revenue increase was supported by Postmates use of Stripes Adaptive Acceptance, Card Account Updater, and Smart Retries features.  The network fee savings were the result of using Stripe payment consultation services. Postmates selected Stripe after running comparison auth tests against another processor.


KlarnaConsumers turn to BNPL for flexibility and security as retail readies for recovery.

Klarna commissioned a report from Capital Economics – BNPL and The New Economic Landscape – that has now been released. The report indicates that BNPL accounted for 3.6% of all online retail sales in the UK in 2020, with over 10 million users. Needless to say, a good number of the findings are positive – 64% of adults that have previously used BNPL said that the flexibility had helped them manage their finances and if BNPL wasn’t available, one third of the value of items bought using BNPL would have been purchased using another form of credit, some of which would incur interest charges.


The Australian Finance Industry Association (AFIA) has released the first version of self-regulations on the BNPL industryCode

All the normal suspects have signed up – Afterpay, Klarna, zip plus others.


MasterCardUK sees 43% rise in social shopping during pandemic.

A survey indicates a significant increase in using social media when shopping on-line. Building on NetImperative article that said of the 25% using social media to shop 92% bought items via Instagram, followed by Facebook at 39%, YouTube at 22% and TikTok at 20%. Efficiency and ease of purchase are the main factors driving the adoption of social shopping with 28% choosing to shop using the channel because they can pay at the ‘click of a button.’


PSE Innovation Videos

Computop – Biometric Authentication

In this full length video, Ralf Gladis from Computop  discusses the challenges faced by merchants when looking at authentication, and the advantages of good authentication procedures far beyond payments.

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