Weekly Headlines 9 October 2020

9th October 2020

BIS and Central banks lay out CBDC principles

SWIFT Paper on gpi

Visa enhances Payables with Stripe Connect

Mastercard invests in Marqeta

P27 buys Bankgiro

Nexi and SIA to merge

Verizon flags drop in PCI DSS compliance

ING survey suggests Open banking ambivalence

 

Central banks and BIS have published a report laying out key requirements for a CBDC.  Report Exec summary

The Report assesses the feasibility of publicly available CBDCs in helping central banks deliver their public policy objectives and outlines foundational principles and core features of a CBDC but does not give an opinion on whether to issue them. It is the first in a series from a group of central banks.

 

SWIFT has published a White Paper – SWIFT gpi: driving a payments revolution. Report

The paper sets out to show how SWIFT and its community have worked together to tackle many of the key frictions inherent in cross-border transactions and have already made payments faster, fully traceable and transparent through gpi.

 

Visa is expanding acceptance of B2B payments using Stripe Connect.

The new solution will enables buyers on Visa Payables Automation to pay suppliers, who are unable to accept digital payments, through the use of a virtual Visa card, helping bring suppliers who are not plugged into the traditional banking infrastructure into the digital economy.

 

Mastercard and Marqeta have extended their global partnership.

The partnership will help expansion into new geographies, open access to new products, and launch additional card programs.  Beginning in Asia Pacific, the two companies will expand their collaboration, optimizing for global scale and driving efficiencies across their businesses. Mastercard will also make a financial investment in Marqeta following Visa that invested in the company in 2017 and made a similar APAC move last year.

 

P27 Nordic Payments Platform has announced it is to acquire Bankgirot.

Bankgirot supports the Swish real time payment system and P27 says the acquisition marks a very important step in its ambition to create one common payment platform in the Nordic countries.

 

Nexi and SIA have signed a MoU covering the merger by incorporation of SIA into Nexi.

The new PayTech will be the largest Group in Continental Europe with c2 million merchants, c120 million cards, and an overall number of processed annual transactions of more than 21 billion. Shareholdings will split 70/30% Nexi/SIA and remain listed on the Milan exchange with an aggregate capitalisation of over €15 billion.

 

Verizon has published its 2020 Payment Security ReportInfographic

The report explores why sustainable compliance PCI DSS continues to decline. Compliance levels saw a drop of nearly 9% last year and have seen a 27.5% drop since 2016.

 

ING survey: We’re still suspicious about Open Banking.

The ING International Survey – polling in 13 European countries — indicates there is a disconnect between what people say and what people do when it comes to sharing personal data. The findings show that sharing personal data and interacting with technology in new ways are not developments that people unanimously support and there are significant differences in attitudes across countries.

 

 

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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