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February 2019
The definitive source of news and analysis of the global fintech sector | February 2019 www.bankingtech.com SUPERSTRUCTURES Fintech reaches new heights CASE STUDY: CITIZENS BANK US heavyweight pivots for digital era FOOD FOR THOUGHT: CAREER CHOICES The Venn diagram of doom FINTECH FUTURES IN THIS ISSUE THEM US Contents NEWS 04 The latest fintech news from around the globe: the good, the bad and the ugly. 18 Banking Technology Awards The glamour, the winners and the celebrations. 23 Focus: intraday liquidity Are banks ready to meet the ECB’s latest expectations? 24 Interview: Pavel Novak, Zonky P2P lender on a “mission possible”. 26 Focus: data How DNB uses data to reconnect with customers. 30 Analysis: openfunds Admirable data standardisation efforts for the funds industry. 32 Case study: Citizens Bank US’s 13th largest bank embraces digital era. 38 Food for thought Making career choices and the Venn diagram of doom. They struggle with Fintech complexity. We see straight to your goal. We leverage proprietary knowledge and technology to solve complex regulatory challenges, create new products 40 Comment What would a recession mean for fintech? and build businesses. Our unique “one fi rm” approach brings to bear best-in-class talent from our 32 offi ces worldwide—creating teams that blend global reach and local knowledge. Looking for a fi rm that can help keep 42 Interview: Javier Santamaría, EPC your business moving in the right direction? Visit BCLPlaw.com to learn more. Happy one year anniversary, SEPA Instant Credit Transfer! REGULARS 44 -
In This Issue
Welcome to the January edition of ACT News. This complimentary service is provided by ACT Canada; "building an informed marketplace". Please feel free to forward this to your colleagues. In This Issue 1. Editorial - payment innovation: where is the bar? 2. Desjardins and MasterCard bring new payment options to Canadians 3. Nanopay acquires MintChip from the Royal Canadian Mint 4. Canadian payments market transition: a study by the Canadian Payments Association 5. Suretap and EnStream take big steps forward with Societe de Transport de Montreal in mobile ticketing 6. New credit union association launches in Canada: Canadian Credit Union Association 7. Global study shows increasing security risks to payment data and lack of confidence in securing mobile payment methods 8. Samsung Pay to move online in 2016 9. Elavon delivers Apple Pay for Canadian businesses 10. Beware alleged experts’ scare tactics on mobile payments 11. Ingenico Group accelerates EMV and NFC acceptance in unattended environments with new partner program 12. Paynet delivers a safer payment service with Fraudxpert to its customers 13. VeriFone expands services offering for large retailers in the US and Canada with agreement to acquire AJB Software 14. VISA checkout added to Starbucks, Walmart, Walgreens 15. Gemalto is world's first vendor to receive complete MasterCard approval for cloud based payments 16. ICC Solutions offers a time-saving method and free guide for training staff to process card payments correctly ready for the new year! 17. Walmart adds masterpass as online payment method 18. Equinox and ACCEO partner to deliver integrated retail payment solution 19. UL receives UnionPay qualification for Chinese domestic market 20. -
Global Potential for Prepaid Cards
Global Potential for Prepaid Cards Overview of Key Markets September 2018 © Edgar, Dunn & Company, 2018 Edgar, Dunn & Company (EDC) is an independent global financial services and payments strategy consultancy EDC - Independent, Global and Strategic EDC Office Locations Founded in 1978, the firm is widely regarded as a trusted advisor to its clients, providing a full range of strategy consulting services, expertise and market insight, and M&A support EDC has been providing thought leadership to its client base working with: More than 40 European banks & card issuers/acquirers London Frankfurt Most of the top 25 US banks and credit card issuers San Paris Istanbul All major international card associations / schemes & Francisco many domestic card schemes Many of the world's most influential mobile payments providers Many of the world's leading merchants, including Sydney major airlines Office locations Shaded blue countries represent markets where EDC conducted client engagements EDC Key Metrics Financial services and payments focus +1,000 projects completed Six office locations worldwide +250 clients in 40 countries & 6 continents Independent - owned and controlled by EDC Directors Confidential 2 EDC has deep expertise in across seven specialist practice areas M&A Practice Legal & Travel Regulatory Practice Practice Fintech Retail Practice Practice Issuing Acquiring Practice Practice Confidential 3 A global perspective of prepaid from a truly global strategy consulting firm Countries where Edgar, Dunn & Company has delivered projects Confidential 4 The global prepaid card market is expected to reach $3.7 trillion by 2022 - a growth of 22.7% from 2016 to 20221 $3.7tn size of global prepaid market by 2022 Confidential 1Allied Market Research 2017 5 What we will cover today…. -
How Mpos Helps Food Trucks Keep up with Modern Customers
FEBRUARY 2019 How mPOS Helps Food Trucks Keep Up With Modern Customers How mPOS solutions Fiserv to acquire First Data How mPOS helps drive food truck supermarkets compete (News and Trends) vendors’ businesses (Deep Dive) 7 (Feature Story) 11 16 mPOS Tracker™ © 2019 PYMNTS.com All Rights Reserved TABLEOFCONTENTS 03 07 11 What’s Inside Feature Story News and Trends Customers demand smooth cross- Nhon Ma, co-founder and co-owner The latest mPOS industry headlines channel experiences, providers of Belgian waffle company Zinneken’s, push mPOS solutions in cash-scarce and Frank Sacchetti, CEO of Frosty Ice societies and First Data will be Cream, discuss the mPOS features that acquired power their food truck operations 16 23 181 Deep Dive Scorecard About Faced with fierce eTailer competition, The results are in. See the top Information on PYMNTS.com supermarkets are turning to customer- scorers and a provider directory and Mobeewave facing scan-and-go-apps or equipping featuring 314 players in the space, employees with handheld devices to including four additions. make purchasing more convenient and win new business ACKNOWLEDGMENT The mPOS Tracker™ was done in collaboration with Mobeewave, and PYMNTS is grateful for the company’s support and insight. PYMNTS.com retains full editorial control over the findings presented, as well as the methodology and data analysis. mPOS Tracker™ © 2019 PYMNTS.com All Rights Reserved February 2019 | 2 WHAT’S INSIDE Whether in store or online, catering to modern consumers means providing them with a unified retail experience. Consumers want to smoothly transition from online shopping to browsing a physical retail store, and 56 percent say they would be more likely to patronize a store that offered them a shared cart across channels. -
Credit Card Processing Services RFP
City of York Credit Card Processing Services RFP Questions & Answers 1. What type of equipment do you currently use to process Credit card transactions? (Please provide the Model Number and how many of each Terminal type there is – some model number examples include Vx510, FD55, FD130, Hypercom T7P, etc. The City of York does not own the equipment currently in use. All equipment must be returned to the current service provider upon termination of services. 2. Is there any requirement to interface with an existing legacy system? The City York currently uses Microsoft Dynamics AX; therefore data exports should be one of the following file formats: fixed field, tab delimited or comma delimited so that it interfaces with SK Global. 3. How many merchant IDs does the City of York currently have? And are you looking to keep the same numbers of merchant IDs? There are two merchant IDs, one for The City of York and one for the General Authority which operates the City’s public parking system; there is no desire to add additional IDs. 4. Will each merchant account fall under the same EIN number? Or does the City of York used different EIN numbers for different sectors accepting credit cards? Each merchant Id will have its own EIN. 5. How many current physical locations within York accept Credit, Debit, or E-Check? a. How many Retail locations, internet locations/websites? b. How many mail order/telephone order locations? c. Do you anticipate any new locations that will need to begin Credit Card acceptance? There are 7 locations that accept credit cards; 3 garages, 209 parking meters that accept credit cards. -
Presentation 27 May 2010
PayPoint plc Preliminary Results Presentation 27 May 2010 Strictly private and confidential Agenda • Highlights & Strategy • Operational Review • Financial Review • Summary and Outlook • Q&A 2 Highlights & Strategy Dominic Taylor Chief Executive 3 Established and developing business streams Established business streams: – Generate the group’s profits and cash flows – Provide unique retail/internet proposition to clients – Strongly differentiated to clients and retailers – With significant barriers to entry Developing business streams: – In large markets that have strong growth potential, with opportunities to accelerate growth – Core to PayPoint’s strategy to broaden payment capability and extend differentiation – Leverage established business streams – On clear path to profitability – Diversify risk across a broader and more balanced business 4 PayPoint highlights • Established business streams delivered to plan: – Over 650 net additions to UK retail network, reinforcing our value to retailers – Strong growth in retail services (transactions 23% up) – 22% transaction growth in internet payments – New value added services • Investment in developing business streams: – 3,400 Collect+ sites; 13 clients with many more interested – 900 new Romanian bill-pay sites – Six-fold increase in bill pay transactions in Romania – PayByPhone acquisition opens new geographies and capability • Large growth markets for developing businesses 5 Camelot What is proposed? Our position: • Camelot seeking to enter our UK • Robust response, underpinned by retail -
Service Provider Name Region AOC Date Assessor DESV
A company’s name appears on this Compliant Service Provider List if (i) Mastercard has received a copy of an Attestation of Compliance (AOC) by a Qualified Security Assessor (QSA) reflecting validation of the company being PCI DSS compliant and (ii) Mastercard records reflect the company is registered as a Service Provider by one or more Mastercard Customers. The date of the AOC and the name of the QSA are also provided. Each AOC is valid for one year. Mastercard receives copies of AOCs from various sources. This Compliant Service Provider List is provided solely for the convenience of Mastercard Customers and any Customer that relies upon or otherwise uses this Compliant Service Provider list does so at the Customer’s sole risk. While Mastercard endeavors to keep the list current as of the date set forth in the footer, Mastercard disclaims any and all warranties of any kind, including any warranty of accuracy or completeness or fitness for any particular purpose. Mastercard disclaims any and all liability of any nature relating to or arising in connection with the use of or reliance on the Compliant Service Provider List or any part thereof. Each Mastercard Customer is obligated to comply with Mastercard Rules and other Standards pertaining to use of a Service Provider. As a reminder, an AOC by a QSA provides a “snapshot” of security controls in place at a point in time. Compliant Service Provider 1-60 Days Past AOC Due Date 61-90 Days Past AOC Due Date Service Provider Name Region AOC Date Assessor DESV “BPC Processing”, LLC Europe 03/31/2017 Informzaschita 1&1 Internet SE (1&1, 1&1 ipayment, Europe 05/08/2017 Security Research & Consulting GmbH ipayment.de) 1Shoppingcart.com (Web.com Group, lnc.) US 04/29/2017 SecurityMetrics 2138617 Ontario Inc. -
Fintech Monthly Market Update | July 2021
Fintech Monthly Market Update JULY 2021 EDITION Leading Independent Advisory Firm Houlihan Lokey is the trusted advisor to more top decision-makers than any other independent global investment bank. Corporate Finance Financial Restructuring Financial and Valuation Advisory 2020 M&A Advisory Rankings 2020 Global Distressed Debt & Bankruptcy 2001 to 2020 Global M&A Fairness All U.S. Transactions Restructuring Rankings Advisory Rankings Advisor Deals Advisor Deals Advisor Deals 1,500+ 1 Houlihan Lokey 210 1 Houlihan Lokey 106 1 Houlihan Lokey 956 2 JP Morgan 876 Employees 2 Goldman Sachs & Co 172 2 PJT Partners Inc 63 3 JP Morgan 132 3 Lazard 50 3 Duff & Phelps 802 4 Evercore Partners 126 4 Rothschild & Co 46 4 Morgan Stanley 599 23 5 Morgan Stanley 123 5 Moelis & Co 39 5 BofA Securities Inc 542 Refinitiv (formerly known as Thomson Reuters). Announced Locations Source: Refinitiv (formerly known as Thomson Reuters) Source: Refinitiv (formerly known as Thomson Reuters) or completed transactions. No. 1 U.S. M&A Advisor No. 1 Global Restructuring Advisor No. 1 Global M&A Fairness Opinion Advisor Over the Past 20 Years ~25% Top 5 Global M&A Advisor 1,400+ Transactions Completed Valued Employee-Owned at More Than $3.0 Trillion Collectively 1,000+ Annual Valuation Engagements Leading Capital Markets Advisor >$6 Billion Market Cap North America Europe and Middle East Asia-Pacific Atlanta Miami Amsterdam Madrid Beijing Sydney >$1 Billion Boston Minneapolis Dubai Milan Hong Kong Tokyo Annual Revenue Chicago New York Frankfurt Paris Singapore Dallas -
Payment Solutions Built for Mobility
Payment Solutions Built for Mobility shift4.com | 800.265.5795 | [email protected] © 2020 Shift4 Payments, LLC. All rights reserved. Picking the Right Mobile Payment Solution for Your Business No matter what role you want mobility to play in your payment processing, you have choices from Shift4 Payments. We have put together a variety of solutions that support the latest mobile payment terminals and cover the most comprehensive set of features and implementation options. There are several supported options for ISVs and businesses that want to incorporate mobile payment processing into their offering. Below are several mobile payment solutions for your business: PAX Sleek and Modern. PAX’s line of mobile payment tablets — including their handheld A920 and A930 models — manages to pack an impressive amount of tech into its designs, including dual camera, 1D/2D scanner, and a built-in printer. These devices connect via 4G, Wi-Fi, or Bluetooth, and supports mobile acceptance of MSR, EMV, and NFC payments. ID TECH Versatile and Compact. ID TECH’s EMV Common Kernel family of devices includes OEM payment modules that are built into a variety of mobile hardware options, allowing businesses to expand their mobile payment capabilities to securely accept MSR, EMV, and NFC payments. Innowi Powerful and Portable. The ChecOut M from Innowi delivers an all-in-one mobile point of sale (mPOS) that fits in your pocket. This device supports Android and Windows OS and 4G, Wi-Fi, and Bluetooth connectivity options. Merchants of all types can accept MSR, EMV (w/chip & PIN), and NFC payments. Ingenico Advanced and Reliable. -
Frequently Asked Questions Converge Mobile – U.S
Frequently Asked Questions Converge Mobile – U.S. Features and Functionality Which mobile wallets does Converge Mobile support? Converge Mobile, using the NFC contactless capabilities of What is Converge Mobile? the Ingenico iCMP can accept: Converge Mobile is the mobile payment solution that offers • Apple Pay® you a way to accept payments securely while on-the-go. • Android Pay™ Simply download the Converge Mobile app from the Apple ® Store or the Google Play store. Purchase a supported card • Samsung Pay reader device and you’re ready to go! Converge Mobile can • PayPal® (when available) email receipts or it can be paired with one of two portable Does Converge Mobile print receipts? printers. Yes! The Converge Mobile app supports the Star SM‐T300i Which types of mobile devices are compatible with or Star SM‐T220i. Receipts can also be emailed to the Converge Mobile? consumer and a record of the transaction is accessible within Converge Mobile is supported on Android 5.0 (and higher) Converge Mobile and online at www.convergepay.com. and iOS 8.0 (and higher) devices including smartphones, Can my customers receive text receipts? tablets and iPads. Converge Mobile may work on lower Not at this time. We are working on adding this functionality versions but this is not supported by Elavon. in the future. Receipts can be delivered to your customer Can Converge Mobile run on a Windows or Blackberry via email. phone? Can a signature be captured in the app? Not at this time. Yes. A signature is accepted using the mobile app. The What card brands does Converge Mobile accept? signature is stored within Converge so if your customer Converge Mobile accepts Mastercard, Visa, Discover, and chooses to receive his/her receipt via email, a picture of the American Express. -
20Th Aug 2020 Sr. No. Acquirer Bank Name Technology Switch
NPCI/2020-21/RuPay/029 List of Live RuPay Contactless L3 Certified PoS terminals 20th Aug 2020 L3 Certified Terminal Models List RuPay Contactless L3 Certified PoS Terminal List on RuPay Terminal Specification V2.0.0 Technology Terminal PoS Date of Sr. Acquirer L2 Product L3 Certified Scope - RuPay- Switch /Application Terminal application No. Bank Name Approval No. Version qsparc/JCB/UPI Processor Maker / Provider Model Certified qSPARC.V2_ING22 Worldline PAY RuPay - Ingenico IWL 220 12th Jul, 2019 012019_0D55 Version 7.67 qSPARC/JCB/UPI Bank of 1 Worldline qSPARC(2)- Baroda Worldline PAY RuPay - Verifone Vx675 VER23042018:2018 17th Jan, 2020 Version 3.80 qSPARC/JCB/UPI 01 Punjab qSPARC.V2_ING22 Worldline PAY RuPay - 2 National Worldline Ingenico IWL 220 18th Jul, 2019 012019_0D55 Version 7.80 qSPARC/JCB/UPI Bank qSPARC.V2_ING22 CRDB Application RuPay - Ingenico IWL 220 14th Sep, 2019 012019_0D55 version V3.12 qSPARC/JCB/UPI State Bank of 3 Hitachi India PAX Computer qSPARC.V2_PAX18 Plutus V10.1.1 RuPay - Technology PAX A920 07th Feb, 2020 062018_8807 SBI qSPARC/JCB/UPI shenzhen co ltd. City Union qSPARC.V2_ING22 Worldline PAY RuPay - 4 Worldline Ingenico IWL 220 03rd Dec, 2019 Bank 012019_0D55 Version 7.80 qSPARC/JCB/UPI qSPARC.V2_ING22 Worldline PAY RuPay - Ingenico IWL 220 30th Oct 2019 012019_0D55 Version 7.80 qSPARC/JCB/UPI Worldline qSPARC(2)- Worldline PAY RuPay - Verifone Vx675 VER23042018:2018 05th April, 2020 Version 3.81 qSPARC/JCB/UPI 5 Axis Bank 01 Shenzhen Xinguodu qSPARC.V2_NEX20 g20inaxi Version RuPay - Hitachi NexGo G2 28th April, 2020 Technology Co. 052019_2A37 V1.0.2 qSPARC/JCB/UPI Ltd. -
DUE DILIGENCE LESSONS for the ASSET MANAGEMENT INDUSTRY 1 the Implosion of Wirecard Is One of the Most Stunning Corporate Failures in Recent Years
WIRECARD: DUE DILIGENCE LESSONS FOR THE ASSET MANAGEMENT INDUSTRY 1 The implosion of Wirecard is one of the most stunning corporate failures in recent years. The high flying company was the prestigious symbol of corporate Germany’s pivot to fintech and a darling of the EU technology industry. In 2018 the firm joined the 30 companies in Germany’s DAX stock index with a capitalization of €25bn, with the fintech payments processing company symbolically replacing “old economy” Commerzbank. Now Wirecard has the reputation of being the only member of the DAX ever to go into liquidation. Castle Hall has identified four themes from the Wirecard debacle which are relevant to the asset management industry. As investors conduct due diligence, be it on hedge funds, private equity, real estate, infrastructure or long only funds, Wirecard provides valuable insights which can be applied to our own industry. Perhaps the most obvious lesson of Wirecard is the one investors should always remember – if it looks too good to be true…it probably is. 1 AUDIT FAILURE The starting point has to be the increasing likelihood that Wirecard may be one of the most stunning audit failures in financial history. Castle Hall’s senior team includes qualified accountants and ex-auditors. We certainly recognize that an audit is not infallible and that a testing and sample based review of transactions may fail to uncover a sophisticated fraud, especially when there is collusion between the company and third parties / counterparties. An audit is also subject to materiality – so small transactions may fall within the cracks, even if they are fraudulent.