Weekly Headlines 9 April 2021

9th April 2021

An additional US$900 billion was spent in online retail around the world in 2020

Visa has hit one billion additional contactless transactions less than a year since contactless limits increased across Europe

Mastercard launches Request to Pay application solution

KBC and equensWorldline launch the first co-badged wearable in Europe

Square starts operations in Ireland

Online deliveries from the EU to the UK have fallen by more than 50% since January

 

An additional US$900 billion was spent in online retail around the world in 2020

In their Recover Insights series, Mastercard claims that an additional US$900 billion was spent in online retail around the world in 2020. According to the report, in 2020, eCommerce made up roughly US$1 out of every US$5 spent on retail, up from about US$1 out of every US$7 spent in 2019.

 

Visa has hit one billion additional contactless transactions less than a year since contactless limits increased across Europe

According to Visa, less than a year since contactless limits increased across Europe, Visa has hit one billion additional touch-free transactions, 400 million of which took place in the UK. Research from Visa shows that 65% of consumers globally would prefer to use contactless payments as much as, or more than, they are currently.

 

Mastercard launches Request to Pay application solution

Mastercard has announced the launch of its Request to Pay application solution, the first in the UK to offer an end user application service within Pay.UK’s Request to Pay framework.

Accredited as both an application and repository service provider, Mastercard’s Request to Pay solution now builds and enrols end user applications, such as a mobile app for consumers or a corporate IT system. These are necessary to create, send, view, and respond to ‘Requests to Pay’ for billers and payers, while also building in message repositories – the secure message storing and routing component.

 

KBC and equensWorldline launch the first co-badged wearable in Europe

In Belgium KBC and equensWorldline have launched the first co-badged wearable in Europe.
Users can make both Maestro and Bancontact payments by linking their wearable, which can be a watch, bracelet, key fob or ring, to a co-badged debit card issued by KBC. Like currently happens with card payments, users do not have to choose between both payment schemes when making a payment.

 

Square rolling out its Early Access Programme in Ireland.

The limited-space programme marks the first time Square is available to Irish merchants.
Square has stated that merchants who enrol in the Early Access Programme can get started with its products in just days, with no long-term contracts or start-up fees, and qualify for free Square hardware. Square expects to launch its products for general availability in Ireland later in 2021.

 

Online deliveries from the EU to the UK have fallen by more than 50% since January

Online deliveries from the EU to the UK have fallen by more than 50% since January as Brexit regulations stop shoppers from buying abroad. According to Sendcloud, 51% of customers were put off by higher delivery costs and 32% by increased delivery times, while 38% were concerned about increased customs charges.

 

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.

Contact Us