BIS paper on mCBDC arrangements and cross-border
BIS brief on regulating big techs in finance
EC roadmap for instant payments in EU
‘Pay at gate’ change to airline payment model?
Giropay merger to build uniform payment brand
LINK on Cash and Covid-19
Stripe €80 billion valuation
Sum Up also raising more funds
Yandex launches Pay wallet
Afterpay using Clearpay brand for EU expansion
The paper explores dimensions of payment system interoperability, how they could feature in mCBDC arrangements and where potential benefits lie. mCBDC arrangements are where interoperating CBDCs join together as a group.
Risks connected with big tech activities in finance may not be fully captured by the regulatory approach up to now, which is geared towards individual entities or specific activities and not the risks that are created by substantive interlinkages within big tech groups and their role as critical service providers for financial institutions.
The Consultation is based on an inception impact assessment (roadmap) that assesses the need to foster pan-European market initiatives based on instant payments to ensure that anyone holding a payment account in the EU can receive and send an instant credit transfer from and to any other payment account in the EU.
The German Business Travel Association has called for a change in the current airline payment model.
The change would solve the problem where, if a large number of cancellations occur due to a crisis, airlines are not able (or willing?) to reimburse the money due to customers.
The VDR has posted that Lufthansa has made concrete plans for a part revisal of its existing “pay-as-you-fly” tariff. The modified tariff model provides that the payment process for intra-European flights is only initiated at the time of departure. In addition, customers should only be charged for flights actually used.
The merged channels will see Banks and savings banks using paydirekt, Giropay and Kwitt under the Giropay brand. The aim is to “harmonise and interlink” the payment processes for customers and retailers, the goal, a uniform payment brand.
LINK has published two articles
“Looking forward it is very likely that some consumers’ cash usage habits will have fundamentally changed but that the requirement for cash access, as a contingency and for vulnerable consumers will be more important than ever. A fundamental review and potential restructuring of the country’s ATM network and its business model may therefore be necessary”.
The company will use the capital to invest in its European operations, and its Dublin headquarters in particular, support surging demand from enterprise heavyweights across Europe, and expand its Global Payments and Treasury Network. Primary investors include Ireland’s National Treasury Management Agency.
With a strong rosta of investors including Goldman Sachs, Temasek and Bain Capital Credit, SumUp is looking to accelerate its growth. The new funds will also be used to continue expanding its product suite, both organically and through further acquisitions (gastronomy, hospitality, stadia, and concert arenas), as well as for refinancing existing debt facilities.
Yandex has launched Yandex.Pay.
Initially the wallet is available via websites, with Yandex intending to roll out the payment service in mobile applications and offline. Currently, Yandex account holders can upload bank card details issued via Mastercard, Visa or Mir.
Afterpay believes southern Europe has great potential, as the region has a large population of millennials who are adopting the instalment payment alternative. The BNPL player has also gained regulatory approval for use in Portugal and Germany.
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.