Weekly Headlines 5 November 2021

5th November 2021

Klarna to roll-out its one-stop shopping app globally

Clearpay announces in-store function in the UK

Facebook updates Subscriptions programme with recurring monthly payments

Mastercard allows any Bank, Neobank or Merchant to offer Crypto payments or acceptance in the US

Visa sees crypto as key to Visa Direct’s future

3DS 2.x protocol helps driving down e-commerce fraud by 36%

ECB report shows card fraud declined in 2019

PSR publishes its card-acquiring market review

EBA launches public consultation on the amendment of its Regulatory Technical Standards on SCA and CSC

 

Klarna to roll-out its one-stop shopping app globally

Klarna is to roll-out its one-stop shopping app globally. Consumers can shop at all online stores through the app, explore exclusive deals and personalised shopping collections, save items and unlock price drop notifications, view items’ delivery tracking, manage payments and returns. A space to collect loyalty cards, additional money saving tools, live shopping events, and integrations powered by third parties will be added soon.

 

Klarna acquires PriceRunner

Klarna has acquired PriceRunner. The Nordic price comparison service will bring new features in the form of product reviews, product discovery and price comparisons to the Klarna app, while providing merchant partners with behavioural insights and marketing opportunities to increase Website traffic.

 

Clearpay announces in-store function in the UK

Clearpay announced its in-store function is now available to UK customers at a number of retail stores throughout the country.

 

Facebook updates Subscriptions programme with recurring monthly payments

Facebook has updated its Subscriptions programme. Initially launched as fan subscriptions, the feature now enables creators to be paid in a more consistent way with recurring monthly payments.

 

Mastercard allows any Bank, Neobank or Merchant to offer Crypto payments or acceptance in the US

Mastercard is partnering with Bakkt to allow any Bank, Neobank, or Merchant to offer Crypto payments or acceptance in the US. Bakkt offers Crypto custody, trading, and pre-packaged APIs for merchants and wallet providers. No indications if/when the service will be expanded to Europe.

 

Visa sees crypto as key to Visa Direct’s future

Visa sees crypto as key to Visa Direct’s future, arguing that it crypto will need a bridge and that’s something Visa can provide. After cards and bank accounts, Visa is also focusing its Visa Direct product on multi disbursement, enabling payouts to other types such as wallets. Visa also sees areas such as the gig economy as driving the change in the needs of payroll systems towards a more on-demand, off-cycle approach.

 

3DS 2.x protocol helps driving down e-commerce fraud by 36%

3DS 2.x protocol helped drive down e-commerce fraud by 36% in the past 12 months.

 

ECB report shows card fraud declined in 2019

ECB report shows card fraud declined in 2019. It registered the second lowest card fraud share since 2007. 80% of card fraud took place via online and mobile payments, while 15% took place in shops and 5% at ATMs. Cross-border transactions accounted for 65% of the total value of card fraud.

 

PSR publishes its card-acquiring market review

The PSR published the final report for its card-acquiring market review. The regulator believes that the supply of card-acquiring services does not work well for small and medium-sized merchants and large merchants with annual card turnover up to £50 million. Merchants with annual card turnover between £15,000 and £50 million served by the five largest acquirers got little or no pass-through of the IFR savings. The regulator’s findings also concluded that many SMEs do not regularly search, consider switching provider, or negotiate with their current provider, despite evidence that they could achieve a better deal by doing so.

 

EBA launches public consultation on the amendment of its Regulatory Technical Standards on SCA and CSC

The EBA launched a public consultation on the amendment of its Regulatory Technical Standards on Strong Customer Authentication and Common Secure Communication with regard to 90-day exemption from SCA for account access, which are meant to make SCA less intrusive in relation to account information services, and therefore AISps more successful.

 

PSE Innovation Videos

Codat – Opportunities for Open Finance

In this full length conversation with Yasamin Karimi from Codat we discuss the benefits of Open Finance to acquirers as they seek to onboard new customers and carry out credit checks. Yasmin highlights the emerging opportunities of combining accounting, Open Banking, and commerce platform data to create a rounded view of where a business has been, its current cash position and its order pipeline.

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