Weekly Headlines 19 June 2020

19th June 2020

EC investigates App Store rules and Apple Pay

CMA investigating Visa/Plaid deal

UK Supreme Court rules against Visa and Mastercard

European FinTech Association launched

PayID solution launched by blockchain consortium

FCA and PSR on Access to Cash

UK Finance model for Open Banking

Covid-19 impact


The EC has opened formal antitrust investigations into Apple’s rules for app developers and the distribution of apps via the App Store.

The investigations cover the mandatory use of Apple’s own proprietary in-app purchase system and restrictions on the ability of developers to inform iPhone and iPad users of alternative cheaper purchasing possibilities outside of apps.


It has also opened an investigation into Apple practices regarding Apple Pay.

The investigation covers Apple’s terms, conditions and other measures for integrating Apple Pay in merchant apps and websites on iPhones and iPads, Apple’s limitation of access to the NFC functionality on iPhones for payments in stores, and alleged refusals of access to Apple Pay.


The CMA is investigating the anticipated acquisition by Visa International Service Association of Plaid Inc.

To assist it with its assessment of whether the merger might result in a substantial lessening of competition in the UK, the CMA has invited comments on the transaction from any interested party by 10 July.


The UK Supreme Court has ruled against Visa and Mastercard in favour of Sainbury’sFull Judgement

The Supreme Court has unanimously upheld the conclusion of the Court of Appeal that the MIFs infringed article 101(1) and its legal rulings on article 101(3), dismissing the appeal on all grounds except the ‘broad axe’ issue. It is now up to the CAT to decide on the level of interchange reparation for merchants.


The European FinTech Association (EFA) has been launched by leading European FinTechs.

EFA is the first not-for-profit Brussels-based organisation representing over twenty leading FinTech companies of all sizes, from across Europe. The Association brings together the previously established EFAlliance and FinTechs4Europe to give one voice to European FinTech players.


PayID has been launched by a consortium of leading technology, finance and non-profit companies.

PayID is a universal payment ID that creates a common protocol that allows for interoperability between payment networks. GoPay, Ripple, BitPay, Brave, Flutterwave and others (i.e. primarily blockchain operators) have collaborated on the development of PayID through the Open Payments Coalition, a multinational alliance of industry leaders.


The FCA and PSR have set out their joint approach to Access to Cash.

A summary of what actions have been taken during the pandemic and planned approach going forward.


UK Finance has set out a potential future model for Open Banking.

The proposed model for the way forward post the end of the OBIE implementation phase is set out in a new report, Open Banking – Future State.

The report sets out how the transition could be achieved and proposes that at the end of the current roadmap, the OB functions are maintained and moved into a service company that is governed and funded by the wider banking and finance industry. A separate monitoring function would be established to review ongoing compliance with the CMA’s Order.


COVID-19 Impact

ONSRetail sales, Great Britain: May 2020.

The proportion spent online soared to the highest level on record at 33.4%, which compares with the 30.8% reported in April 2020.

Visa UK‘Adapt for Recovery’ How small businesses are building for the future.

Amex is there also with similar effort.

Visa has also told the FT that Card payments are set to experience a “permanent” boom in usage .

Mastercard meanwhile says consumers are adopting new payment habits at an accelerated 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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