Weekly Headlines 14 August 2020

14th August 2020

EBA consults on RegTech

PSR on APP Scams and bank response

OBIE ‘quick wins’ to bolster open banking

Reward provides Customer Engagement capabilities for Visa

first direct selects Mastercard for debit issuing

Yapily enables Amex open banking

Barclaycard Payment Intelligence launch

Holvi exits UK

Facebook to set up Facebook Financial

Global eCommerce transactions July rise


The EBA is consulting on the use of RegTech solutions and ways to support the uptake of RegTech across the EUIndustry Survey

The RegTech industry seeks views and experience on the use of RegTech solutions in order to understand the ongoing activity in this area, raise awareness on RegTech within the regulatory and supervisory community, and inform any relevant future policy discussion. The EBA is also seeking ways to facilitate the adoption and scale up of RegTech solutions across the EU whilst acknowledging and looking to address the underlying risks.


PSRGetting the right outcomes for the victims of APP scams.    Infographic

The statement sets out how the PSR wants to see improvements relating to APP scams reimbursements. In particular it wishes to see repatriation or reimbursement occurring in the vast majority of APP scam cases assessed under the existing voluntary Code; and a sustainable, long-term model for reimbursement to be established as a matter of urgency.

Which? meanwhile is far from impressed with banks’ current performance.


The OBIE has published ‘Improving the Customer Journey’ to bolster its existing Customer Experience Guidelines. Infographic

The OBIE is releasing this guide of ‘quick wins’ to optimise conversion rates and reduce the frequency of consumers abandoning in-app user journeys prior to completion as it continues an investigation into the “root causes” of low conversion rates overall.


Reward has extended its partnership with Visa to provide customer engagement capabilities and content to banks across Europe.

Reward will be building on their UK partnership, that currently provides Customer Engagement capabilities/content to support several of Visa’s UK client programmes. The first new country for roll-out of the EaaS solution will be the Republic of Ireland.


first direct has selected Mastercard as its partner for its debit card portfolio.

Customers will begin to receive cards from the end of this year, as part of a multi-year agreement.  The announcement will bring enhanced digital benefits for first direct customers, including card controls and functionality, as well as exclusive offers, and a new rewards/loyalty program.


Yapily has announced an agreement with American Express to enable open banking payments across Europe.

The integration will support Amex in delivering its Pay with Bank Transfer payment initiation service in Europe.


Barclaycard has launched Barclaycard Payment Intelligence.    Blog

The new service uses in-depth data analytics to provide procurement departments with a comprehensive picture of their supply chain.  The new technology analyses each supplier against a range of factors  – number and value of transactions, size, location, industry, early payment discounts – and then uses a set of algorithms to create a bespoke payments strategy,  helping businesses combat late payments, generate savings and save time.


Holvi has announced it is withdrawing from the UK on the 31st October 2020.

Changing market conditions, triggered by the outbreak of COVID-19 and the uncertainty of the regulatory landscape in the UK, have led to the decision to withdraw.


Facebook is reported as setting up a new team that will run its payment products and operations.

The team is said to be part of a move to set up Facebook Financial, that will amalgamate Facebook’s various financial services activities such as Facebook Pay and Novi (Libra). Facebook believes that if users can make purchases on Instagram, Messenger and WhatsApp, then its advertising will grow more valuable, and users will spend more time inside the various apps.


ACI WorldwideGlobal eCommerce transactions increased by 19% in July 2020 yoy.

Fraud also continues to increase as criminals take advantage of CNP methods of payment – Volumes down slightly but value up.  Overall eCommerce sales continued to increase yoy in the U.S. (13%), U.K. (17%) and APAC (43%).



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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