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www.cardsinternational.com Issue 548 / october 2017 NEW CARD, NEW TRICK? ASSESSING THE BENEFITS OF INSTANT ISSUANCE COUNTRY SNAPSHOTS FEATURE ANALYSIS Key data and insight into The Uber Barclaycard co- Scotiabank claims a first card payments in Israel, branded credit card. Next with the launch of cashback Ireland and Turkey stop, world domination? on debit cards CI October 548.indd 1 16/10/2017 15:47:00 contents this month NEWS COVER STORY 05 / EDITOR’S LETTER INSTANT ISSUANCE, 06 / DIGEST • Elavon, Poynt to offer smart payment terminal in Canada THE NEW CARD TRICK • Wells Fargo adds NFC capability • Maybank teams with FC Barcelona • Mastercard opens Indian lab • Discover allows cashback redemption via Apple Pay • Evry signs five-year deal with Aktia • Commonwealth Bank to launch card with interest rate below 10% • Mastercard, Andhra Pradesh agree MoU • Mastercard, PayPal expand partnership • BNZ to add Apple Pay support • Bitflyer launches Visa prepaid card • Mobile to surpass credit cards by 2019: UN report 14 • CPP launches wallet-tracking card Editor: Douglas Blakey Group Editorial Director: Director of Events: Ray Giddings +44 (0)20 7406 6523 Ana Gyorkos +44 (0)20 3096 2585 [email protected] +44 (0)20 7406 6707 [email protected] [email protected] Senior Reporter: Patrick Head of Subscriptions: Brusnahan Sub-editor: Nick Midgley Alex Aubrey +44 (0)20 7406 6526 +44 (0)161 359 5829 +44 (0)20 3096 2603 [email protected] [email protected] [email protected] Junior Reporter: Briony Richter Publishing Assistant: Sales Executive: Jamie Baker +44 (0)20 7406 6701 Joe Pickard +44 203 096 2622 [email protected] +44 (0)20 7406 6592 [email protected] [email protected] Customer Services: +44 (0)20 3096 2603 or +44 (0)20 3096 2636, [email protected] Financial News Publishing, 2012. Registered in the UK No 6931627. ISSN 0956-5558 06 Unauthorised photocopying is illegal. The contents of this publication, either in whole or part, may not be reproduced, stored in a data retrieval system or transmitted by any form or means, electronic, mechanical, photocopying, recording or otherwise, without the prior permission of the publishers. For more information on Verdict, visit our website at www.verdict.co.uk. As a subscriber you are automatically entitled to online access to Cards International. For more information, please telephone +44 (0)20 7406 6536 or email [email protected]. London Office: 71-73 Carter Lane, London, EC4V 5EQ Asia Office: 1 Finlayson Green, #09-01, Singapore 049246 Tel: +65 6383 4688, Fax: +65 6383 5433 Email: [email protected] follow CI on twitter @Payments_News 2 | October 2017 | Cards International CI October 548.indd 2 16/10/2017 15:47:37 contents october 2017 12 16 s to talk about cracking China, disrupting SWIFT,COUNTRY and leveraging SNAPSHOTS WeCha 16 / ISRAEL Israel is one of the most developed payment card markets in the Middle East. Despite this FEATURES and numerous central bank efforts, however, consumers remain largely inclined towards 10 / CREDIT CARDS IN cash, with debit cards struggling in particular CANADA 18 / IRELAND Canadian credit card borrowing has risen Cash has been a preferred instrument for Irish sharply, and the Bank of Canada has consumer payments, accounting for 55.7% warned that rising household debt creates of the total payment transaction volume in vulnerabilities for the country’s financial 2016. However, its use is expected to decrease system. Robin Arnfield reports as electronic payments grow 20 / TURKEY 12 / UBER CREDIT CARD The Turkish cards market remains highly Undaunted by its recent licence problems competitive, with successful economic in London, ride-sharing business Uber performance, a young population and a well- Technologies plans to continue its apparent developed payment infrastructure making it quest for world domination by launching a appealing to banks and issuers co-branded credit card with Barclaycard this autumn. Robin Arnfield writes ANALYSIS 14 / INSTANT ISSUANCE Financial institutions that offer instant debit 22 / DEBIT REWARDS card issuance in their branches stand to Scotiabank has unveiled its new Scotiabank reap multiple benefits from the initiative, Passport debit card, allowing Canadians to particularly in terms of increased card- use debit cards to earn travel rewards. The activation rates and higher interchange fees. 18 bank says the initiative gives it a competitive Robin Arnfield takes a closer look advantage, writes Douglas Blakey www.cardsinternational.com | 3 CI October 548.indd 3 16/10/2017 15:47:43 Retail Banking: Europe 2017 15th November 2017 l Amsterdam Navigating the Transformation of Retail Banking in Europe Top industry movers and shakers will meet to debate the importance of new strategies, business practices and partnerships in the industry. We invite you to become an active voice in this discussion to shape the future of retail banking. Key Issues l Innovation in banking – Evaluating new technologies changing the face of retail banking l Succeeding in a digital economy - Catering to the changing customer mindset, behaviour and expectations l Big data and the power of analytics - Utilising advanced data modelling l Ensuring safety and security in a digital world: Digital identity, cyber security and fraud management l Collaboration instead of competition: Highlighting the need for synergies between FinTech and banks Why Attend l Hear from leading retail banks as they discuss digital disruptions, technology innovations and new generation of customers l Join expert panel discussions that off er insight into some of the most pressing issues impacting the retail banking sector in Europe l Examine key industry trends in a day packed with keynotes, case studies and interactive debates l Take part in thought-provoking discussions covering the most critical industry issues using out new technology tool Slido l Earn CPD points towards your professional development and take away key fi ndings from the day Headline Sponsor Silver Sponsors Brand Sponsors Exhibitor In association with For more details please contact Ray Giddings on [email protected] or call +44 (0) 20 3096 2585 0817Timetric_RBE_Ad.indd 1 01/09/2017 10:38 editor’s letter As connected commerce gathers pace will we see ATMs in branches? Douglas Blakey, Editor t Diebold’s International Management Seminar With PSD2’s imminent arrival, the four “global forces” in Amsterdam in mid-October – its 30th such combine and the financial sector needs to embrace this. A event but the first one as Diebold Nixdorf since He added: “Connected commerce means providing an the Wincor merger – particular attention was paid to app that isn’t only financial advice, but also provides tips ‘connected commerce’. for lifestyle. By 2018, a billion accounts’ information will However, ATMs may not be part of this connection – at least be available. So why not be the first to aggregate all this in-branch. Philippine Risch, director of ING’s branches and information into your app?” cash in the Netherlands, believed ING’s purpose was to help its Death of cash, no future for ATMs or cards – the daily pitch. customers stay ahead by being “a tech company with a banking Rarely does a day go by without some call or email from a licence”. breathless PR telling the writer about the imminent death of Is there a need for branches in an increasingly digital world? cash. Or a discussion with a banker arguing that consumers no Risch argued strongly in the affirmative. She said: “The ultimate longer want to use cash. Often of course they have a strong experience is digital mixed with human experience.” vested interest, such as a banker from one of the new startups However, she highlighted that the branch would only be that will not be rolling out its own ATMs. useful if it was there to satisfy a customer’s needs. Even if a The one consistent feature is their determination to ignore branch is not needed, customers can feel relieved to see one. a few facts that they dislike as they do not fit their own Additional services that a branch can provide are human help agenda. Such as the total value of notes in circulation in the and guidance. UK increasing by 10% last year to exceed £70bn ($92.9bn) for Risch added: “Sometimes people just even want to vent the first time. Or the total aggregate value of ATM withdrawals frustration at their bank and appreciate general attention. in the UK stubbornly remaining constant in recent years at The human contact makes the difference in a customer around £190bn each year. relationship. The human touch adds to the heart and the Sadly, UK banks missed a trick to boost ATM functionality by emotion of the digital relationship.” ING’s branches will now not adapting ATMs to offer the range of services readily found focus on being advice branches or experience branches. in Europe. The UK has a dismal record compared with the One thing that may not have a future in ING’s branch is continent in terms of ‘recycle’ ATMs. ATMs. Risch would not elaborate, but said cash will retain a It is a safe forecast to say that UK ATM numbers, currently large role in Dutch society, but will not play a huge part in standing at all-time high of about 70,000, have peaked. As in branches. Therefore, ATMs would eventually be removed. the Netherlands, we can expect to see fewer ATMs in the UK Christian Weisser, senior vice-president and MD for Europe, within the diminishing numbers of branches. Middle East and Africa at Diebold Nixdorf, said: “We see But if Payments UK is to be believed – and I have no reason four global forces in our space: automation, digitalisation, to doubt its forecast – cash will still account for about a fifth individualisation, and a strong trend to consume everything as of all payments in 10 years’ time.
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