DOCSLIB.ORG

In This Issue

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
In This Issue September | October 2013 | paymentscardsandmobile.com in this issue Card Notes Payment technology gets physical again EC payments Interchange caps hurt? Non-cash payments World Payments Report m-payments Biometrics can revolutionise m-payment security PCM_MA13_40pp.indd 39 20/03/2013 15:39 welcome www.paymentscardsandmobile.com September | October 2013 Gearing up for non-cash growth Volume 5, Number 5 Editor-in-chief and publisher The annual World Payments Report from RBS and Capgemini has established itself as a major Alexander Rolfe benchmark publication for the payments industry in tracking and analysing trends in non-cash Tel +44 1263 711 800 [email protected] payments worldwide. PCM was given a sneak preview of this year’s report, which makes for very encouraging reading for the payment industry. All forms of non-cash payments, such as Editor Victoria Conroy debit cards, credit cards, e-commerce and mobile payments are growing strongly globally, Tel +44 1263 711 800 particularly in the emerging markets. [email protected] However, one of the notable findings of this year’s report was in relation to mobile payments: Contributors despite strong growth expectations, the report has uncovered a surprising black hole between Paul Asare-Archer Marie Walker estimated usage and actual usage – in some cases the gap is as much as 50%. Clearly, this Head of Business Development highlights the need for more timely and accurate statistical collection by regulators and central Wendy Sanders banks, along with other stakeholders, if m-payments are to fulfil their true potential. Tel +44 1263 711 801 Fax +44 1263 456 100 Another factor touched on in the report is a subject that PCM is tracking with interest, along [email protected] with the rest of the industry – the rise of virtual currencies. In less than a year, the pace of General Manager activity in this field has been breathtaking and regulators around the world are struggling to Gemma Haywood keep up. While some regulators and central banks are of the opinion that the likes of bitcoin Tel +44 1263 711 800 Fax +44 1263 456 100 should be illegal, others regard them as being just as valid a payment method as cards and [email protected] coins, which is muddying the picture for consumers and the industry. Subscriptions and General Kaye Skinner Meanwhile, the European Commission has finally published its proposals on interchange Tel +44 1263 711 800 regulation in the European Union. As expected, the proposals aim to introduce maximum Fax +44 1263 456 100 levels of interchange fees for transactions based on consumer debit and credit cards, along [email protected] with a ban on surcharges. While it’s not surprising that the payment industry has come out Address fighting, what is surprising is that some pro-consumer groups are also urging the Commission Payments Cards and Mobile The Stable, Hall Yard to rethink its proposals, arguing that interchange caps will ultimately hurt and not help Kelling, Holt consumers – merchants stand to gain the most from the caps as they stand. NR25 7EW United Kingdom It is now up to the industry to galvanise themselves ahead of what is expected Cover, Design and Origination to be a fiercely-fought battleground over this long-running issue. www.klg-design.co.uk Victoria Conroy, Printing Micropress Printers Editor, Payments Cards & Mobile Average net circulation July 2011-June 2012: Printed 8924 • Digital 708 All rights reserved. No part of the publication may be reproduced or transmitted in any form without the publisher’s prior consent. While every care is taken to provide accurate information, the publisher cannot accept liability for errors or omissions, no matter how caused. Payment Cards and Mobile™ is owned and published by PaymentsCM LLP ISSN 1759-829X © PaymentsCM LLP 2013 www.paymentscardsandmobile.com payments cards and mobile | September | October 2013 3 PCM_MA13_40pp.indd 39 20/03/2013 15:39 contents 16 news in brief features 16. Cover story – 6-7. The payments world in 60 days Digital currencies: a boon or scourge? PCM looks at how emerging (and 12. China UnionPay extends lead unregulated) methods like bitcoin could over Visa and MasterCard impact the payments industry. In less The number of payment cards worldwide than a year, the pace of activity has been increased by 12% in 2012 to reach a breathtaking. ■ landmark 10 billion, according to a new report from research and consulting firm Retail Banking Research (RBR), which also found that China UnionPay has continued to extend its lead over other card schemes as a result of continued rapid expansion of the Chinese card base. 8 ■ Risk-based segmentation not relevant for m-payments. ■ UK has lost 40% of bank and building society branches card notes 18. EC payments – since 1989. ■ 8. Payment technology gets Interchange caps hurt? physical again 14. Bank IT costs set to increase Proposed caps on debit and credit It’s only over the last few years that The issue of core system replacement is interchange across the EU have drawn consumers worldwide have become at the fore once again, with new research strong responses from players on all sides familiar with using contactless from Deutsche Bank finding that banks of the industry. Has the Commission fully technology and mobile phones to make operating ageing IT platforms can expect understood what it is proposing? ■ payments – but could these methods to experience a material increase in find themselves consigned to the bin just running costs over the coming years, 20. Non-cash payments – as they are starting to take off? ■ only partially offset by the introduction World Payments Report of smaller cheaper-to-run branch outlets. US judge and Federal Reserve in debit The annual World Payments Report from RBS ■ Fed considers faster payments and fee fight. ■ and Capgemini is a major benchmark for the mobile. ■ Apple forgoes NFC again. ■ 10. Cash usage set to plummet payments industry in tracking and analysing even further trends in non-cash payments worldwide. ■ The UK Payments Council is predicting that UK consumers will turn their backs on cash over the next 10 years as cards and mobile payments continue their ascendancy. ■ Security fears hold back mobile payments. ■ 4 payments cards and mobile | September | October 2013 www.paymentscardsandmobile.com contents 28 issuing & acquiring e-commerce 22. OP-Pohjola selects Equens as card 32. Australian PSPs roll out MasterPass processing partner MasterCard has announced that 16 European payment processor Equens has contactless Australian payment service providers been selected by Finland’s OP-Pohjola 28. Visa showcases Slovakia as a (PSPs) will introduce MasterCard’s Group as its new card processing partner contactless leader MasterPass. ■ WorldPay e-commerce under a long-term contract for card Visa Europe has highlighted Slovakia as transaction volume grows 45%. ■ services. ■ mPOS World brief by Empiria a showcase market for the adoption of China to become largest online market. ■ Group – Redefining card acquiring with contactless technology, with 1.43 million Facebook pilots e-commerce system. ■ “Rich Merchant services”. ■ cards in circulation recording one million contactless transactions per month. ■ products risk & compliance Octopus to offer mobile NFC. ■ e-Revenue Gateway partners with ElectraCard for 35. Oberthur selected by Movistar Chile 22. The changing face of UK contactless. ■ and Banco Santander Chile regulation and the forthcoming FCA 29. First NFC-enabled iPhone prepaid Oberthur Technologies has been selected Thematic Review mobile wallet launches in Europe by Movistar Chile and Banco Santander Having superseded the Financial Services Kalixa Group, DeviceFidelity and Chile to be their Trusted Service Manager Authority on 1st April 2013, the Financial MasterCard have announced the UK (TSM) and provide an end-to-end solution Conduct Authority has stuck true to its launch of the moneto prepaid wallet. for their NFC pilot. ■ Monitise, Visa Europe bold vision to be far more proactive than ■ RBC launches cloud-based NFC and IBM accelerate cloud m-commerce. ■ its predecessor. ■ m-payment service. ■ EMVCo qualifies FIME’s automated RF test tool. ■ Stripe launches in the UK. ■ mobile payments 26. Biometrics can revolutionise contracts m-payment security 37. Cardtronics acquires Payzone UK With the explosion in smartphone usage, 30 and German ATM businesses the number of payments done via mobile Payzone Group has agreed to sell its devices has significantly increased over ATM business in the UK and Germany to recent years. ■ EC allows Telefonica digital global ATM services provider Cardtronics. ■ payments service. FNB taps instant ■ Giesecke & Devrient to take over UK’s ■ pos terminals messaging for mobile money transfers. Currency Tech. ■ D+H closes $1.2bn 30. Groupon moves into Harland acquisition. ■ DSIA acquires 27. Consumers want POS terminal market Emmecom. ■ CVC Capital buys Skrill. ■ banks to lead way in Groupon has linked up with POS terminal mobile manufacturers Ingenico and VeriFone European smartphone to integrate its Breadcrumb service with conferences shoppers would be more the companies’ respective terminals. 38. Industry gears up for Cartes 2013 confident engaging in ■ Swiff chip and PIN approved by Visa mobile commerce if they Ready programme. ■ Chase Paymentech The Cartes 2013 Secure Connexions could do so using services launches Chase Checkout. ■ Adyen Event will be taking place at the Paris- provided by their bank. ■ Shuttle mPOS now available in 17 Nord Villepinte Exhibition Centre from PayPal launch Beacon. ■ European countries. ■ 19 to 21 November. ■ www.paymentscardsandmobile.com payments cards and mobile | September | October 2013 5 news in brief A Russian man who managed to Several small businesses in the Irish town US payments firm Braintree has rewrite the terms of his credit card of Wexford are ditching cash in a two- launched a mobile tool designed agreement, without the provider noticing, month trial organised by the Irish central bank. to help marketplace owners manage the has successfully sued the bank for breach of Between 16 September and 17 November, all relationship between buyers and sellers contract.
Load more

Recommended publications
  • Successful Implementation of Grocery Store Loyalty Reward Programs Cristina Reinert Walden University
    Walden University ScholarWorks Walden Dissertations and Doctoral Studies Walden Dissertations and Doctoral Studies Collection 2016 Successful Implementation of Grocery Store Loyalty Reward Programs Cristina Reinert Walden University Follow this and additional works at: https://scholarworks.waldenu.edu/dissertations Part of the Advertising and Promotion Management Commons, and the Marketing Commons This Dissertation is brought to you for free and open access by the Walden Dissertations and Doctoral Studies Collection at ScholarWorks. It has been accepted for inclusion in Walden Dissertations and Doctoral Studies by an authorized administrator of ScholarWorks. For more information, please contact [email protected]. Walden University College of Management and Technology This is to certify that the doctoral study by Cristina Reinert has been found to be complete and satisfactory in all respects, and that any and all revisions required by the review committee have been made. Review Committee Dr. Jill Murray, Committee Chairperson, Doctor of Business Administration Faculty Dr. Matthew Knight, Committee Member, Doctor of Business Administration Faculty Dr. Judith Blando, University Reviewer, Doctor of Business Administration Faculty Chief Academic Officer Eric Riedel, Ph.D. Walden University 2016 Abstract Successful Implementation of Grocery Store Loyalty Reward Programs by Cristina Dawn Reinert MBA, Saint Leo University, 2012 BA, Saint Leo University, 2011 Doctoral Study Submitted in Partial Fulfillment of the Requirements for the Degree of Doctor of Business Administration Walden University April 2016 Abstract Consumer loyalty programs are a key marketing strategy implemented across multiple industries in the United States. A successfully implemented loyalty program can benefit both the consumer and the company. The purpose of this single case study was to explore strategies that grocery store managers use to successfully deliver consumer loyalty programs.
    [Show full text]
  • 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
    [Show full text]
  • VISA Europe AIS Certified Service Providers
    Visa Europe Account Information Security (AIS) List of PCI DSS validated service providers Effective 08 September 2010 __________________________________________________ The companies listed below successfully completed an assessment based on the Payment Card Industry Data Security Standard (PCI DSS). 1 The validation date is when the service provider was last validated. PCI DSS assessments are valid for one year, with the next annual report due one year from the validation date. Reports that are 1 to 60 days late are noted in orange, and reports that are 61 to 90 days late are noted in red. Entities with reports over 90 days past due are removed from the list. It is the member’s responsibility to use compliant service providers and to follow up with service providers if there are any questions about their validation status. 2 Service provider Services covered by Validation date Assessor Website review 1&1 Internet AG Internet payment 31 May 2010 SRC Security www.ipayment.de processing Research & Consulting Payment gateway GmbH Payment processing a1m GmbH Payment gateway 31 October 2009 USD.de AG www.a1m.biz Internet payment processing Payment processing A6IT Limited Payment gateway 30 April 2010 Kyte Consultants Ltd www.A6IT.com Abtran Payment processing 31 July 2010 Rits Information www.abtran.com Security Accelya UK Clearing and Settlement 31 December 2009 Trustwave www.accelya.com ADB-UTVECKLING AB Payment gateway 30 November 2009 Europoint Networking WWW.ADBUTVECKLING.SE AB Adeptra Fraud Prevention 30 November 2009 Protiviti Inc. www.adeptra.com Debt Collection Card Activation Adflex Payment Processing 31 March 2010 Evolution LTD www.adflex.co.uk Payment Gateway/Switch Clearing & settlement 1 A PCI DSS assessment only represents a ‘snapshot’ of the security in place at the time of the review, and does not guarantee that those security controls remain in place after the review is complete.
    [Show full text]
  • Elo Brings an Innovative Connectivity Benefit to High-Income Brazilian Cardholders
    CASE STUDY: ELO Elo brings an Innovative Connectivity Benefit to High-income Brazilian Cardholders Elo’s Evolution The first, wholly Brazilian credit card brand, Elo was launched in 2011 as a partnership between three of Brazil’s largest banks, Banco do Brasil, Bradesco and CAIXA. To give you a scope of their market share, together, these three banks represent nearly three quarters of total banking accounts in the country. THE COMPANY Launched in 2011 by three With that kind of financial clout, it was no surprise that Elo’s domestic of Brazil’s largest banks market share grew quickly, and its cards became particularly popular. Still, (Banco do Brasil, Bradesco and CAIXA), Elo is the first even with that level of success, Elo hadn’t yet expanded outside of Brazil. 100% Brazilian credit card brand. In order to be a robust That was about to change. and comprehensive brand, Elo offers a wide range of In 2015, Elo entered into an agreement with Discover Financial Services, products and services aimed which allowed Elo cardholders to make international purchases and at all audiences. Accepted at approximately 4 million Accepted at approximately 4 withdraw cash on Discover’s network. A year later, Elo conducted its first merchants nationwide, Elo is million merchants nationwide, also the first Brazilian brand international transaction on the Discover Global Network, marking the Elo is also the first Brazilian with international acceptance. brand with international official, international acceptances of Elo’s cards. Through a partnership with the acceptance. Discover network, cards can Throughbe used fora partnership purchases withat more the Discoverthan 42 million network, merchants cards can bein 185 used countries, for purchases as well at as more thanwithdrawals 42 million at 1.8merchants million ATMs Elo’s Customer Loyalty Challenge inworldwide.
    [Show full text]
  • 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.
    [Show full text]
  • 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.
    [Show full text]
  • Elo Provides On-Demand Infrastructure with Red Hat
    CUSTOMER CASE STUDY ELO PROVIDES ON-DEMAND INFRASTRUCTURE WITH RED HAT Elo Serviços S.A., a Brazilian payment card company, has grown rapidly since its foundation. However, the market faces increasing competition from innovative financial technology (fintech) startups. To stay competitive, Elo needed an agile, efficient IT environment that would simplify management and speed time to market. With enterprise open source software from Red Hat—such as Red Hat OpenShift Container Platform and Red Hat Ansible Tower—Elo can deploy, manage, and update its customer service and applications faster to stay ahead of tradi- SOFTWARE tional and fintech competition. Red Hat® Enterprise Linux® Red Hat OpenShift® Container Platform Red Hat Ansible® Tower Red Hat Satellite Red Hat Gluster® Storage São Paulo, Brazil FINANCIAL SERVICES SERVICES HEADQUARTERS 115 EMPLOYEES Red Hat Technical Account 115 MILLION CARDS Manager (TAM) IN CIRCULATION Red Hat Consulting “With Red Hat OpenShift, we can plan and complete a proof of concept in 1-2 weeks, HARDWARE BENEFITS then launch what we’ve developed into Dell PowerEdge R730 • Reduced service time to 2S/2U Rack Server production faster to stay ahead of market by speeding server the competition.” deployment from 45 days to 1-2 days ANDERSON AGAPITO I.T. INFRASTRUCTURE MANAGER, ELO • Simplified management with greater automation • Enhanced compliance and security, including PCI-DSS certification • Gained access to expert guidance facebook.com/redhatinc @redhat linkedin.com/company/red-hat redhat.com STAYING COMPETITIVE IN A RAPIDLY GROWING MARKET Elo Serviços S.A., a Brazilian credit card company, was founded in 2011 as a joint venture between three of the country’s leading banks: Banco do Brasil, Bradesco, and Caixa Econômica Federal.
    [Show full text]
  • Competition State Aid Trade & Customs
    Europe Daily News Tuesday 11 April 2017 Competition Bundeskartellamt - List of Notified Merger Projects and 2nd phase proceedings Agenda for: Working Party on CMA publishes revised commentary on Competition of 12.05.2017 retail mergers Non-opposition to a notified concentration CMA accepts Mastercard/VocaLink (Case M.8375 - HIG Capital/Infinigate) undertakings Non-opposition to a notified concentration The CMA’s determination following (Case M.8389 - Groupe Crédit Mutuel/ appeals by TalkTalk and CityFibre over BNP Paribas/JV) leased line charges published by the CAT Prior notification of a concentration CCPC launches new enforcement measures (Case M.8418 - Peter Cremer Holding/ targeting Ireland’s motor trade sector Hage/König Transportgesellschaft) Sweden - Procurement inspection Prior notification of a concentration promotes compliance with the rules (Case M.8446 - ELO/AP1/Real estate portfolio in Finland) State Aid Prior notification of a concentration (Case M.8404 - Volkswagen Financial Answer given by Ms Vestager: State aid in Services/Logpay Financial Services/ Gibraltar - E-000656/2017 Logpay Transport Services) Commission approves acquisition of Trade & Customs Hamburg Süd by Maersk Line, subject to conditions (IP/17/904 & M.8330) Draft Minutes of the 14th meeting of the Joint ACP-EU Ministerial Trade Commission approves acquisition of Committee of 09.12.2016 Groupe Prosol by Ardian (M.8442) Midday Express 11.04.2017 Proposal for a Council Decision on the position to be adopted, on behalf of the Commission clears acquisition of
    [Show full text]
  • Token Management
    Title Page Token Management Service Using the SCMP API Cybersource Contact Information For general information about our company, products, and services, go to http://www.cybersource.com. For sales questions about any Cybersource service, email [email protected] or call 650-432-7350 or 888- 330-2300 (toll free in the United States). For support information about any Cybersource service, visit the Support Center: http://www.cybersource.com/support Copyright © 2020. Cybersource Corporation. All rights reserved. Cybersource Corporation ("Cybersource") furnishes this document and the software described in this document under the applicable agreement between the reader of this document ("You") and Cybersource ("Agreement"). You may use this document and/or software only in accordance with the terms of the Agreement. Except as expressly set forth in the Agreement, the information contained in this document is subject to change without notice and therefore should not be interpreted in any way as a guarantee or warranty by Cybersource. Cybersource assumes no responsibility or liability for any errors that may appear in this document. The copyrighted software that accompanies this document is licensed to You for use only in strict accordance with the Agreement. You should read the Agreement carefully before using the software. Except as permitted by the Agreement, You may not reproduce any part of this document, store this document in a retrieval system, or transmit this document, in any form or by any means, electronic, mechanical, recording, or otherwise, without the prior written consent of Cybersource. Restricted Rights Legends For Government or defense agencies: Use, duplication, or disclosure by the Government or defense agencies is subject to restrictions as set forth the Rights in Technical Data and Computer Software clause at DFARS 252.227-7013 and in similar clauses in the FAR and NASA FAR Supplement.
    [Show full text]
  • Financial Technology Sector Overview of Market Activity in the Financial Technology Sector William Blair & Company
    Quarterly Update Q1 2015 Financial Technology Sector Overview of Market Activity in the Financial Technology Sector William Blair & Company Financial Technology Sector – First Quarter 2015 Update M&A and capital markets activity remained strong during the first quarter of 2015, particularly in the United States. In fact, U.S. stock indices marked all-time highs during the quarter and deal-making activity continued its upward trajectory, propelled by improving confidence among consumers and corporate executives, low-cost credit, and record levels of cash. While market participants largely ignored the prospect of rising interest rates, a collapsing energy sector, global currency concerns, and continued economic uncertainty abroad, this could be an area of concern moving into the second quarter of 2015. One of the most prominent storylines within the financial technology sector in the first quarter was the escalating bets made on payments solutions by the likes of tech giants Apple, Google, and Samsung. The release of Apple Pay unilaterally raised the stakes across the industry and was a catalyst for a wave of high-profile announcements, including Samsung’s acquisition of LoopPay, Google’s acquisition of Softcard, and PayPal’s acquisition of Paydiant. Traditional payments providers are thus being further pressured to accelerate innovation and expand international reach, which has in turn refocused corporate strategies away from building domestic scale and vertical plays toward acquiring differentiated, earlier-stage, technology platforms with global capabilities. Global’s acquisition of Realex, Worldpay’s acquisition of SecureNet, and MasterCard’s acquisition of TNS’s gateway are recent examples of this trend, which we believe will be a significant driver of sector M&A activity going forward.
    [Show full text]
  • Between Evolution and Revolution
    Navigating the payments matrix BetweenCharting aevolution course andamid revolution evolution and Payments to 2025 and Beyond revolution THE FUTURE OF FINANCIAL SERVICES PAYMENTS 2025 & BEYOND 2 | PwC Navigating the payments matrix Foreword Dear reader, The financial-services industry is in the midst of a We are therefore delighted that the first report we are significant transformation, accelerated by the COVID-19 launching in our 2025 & Beyond series focuses on the pandemic. And given the key role digitisation plays payments industry and the key themes that are influencing in the financial lives of more and more of the world’s it. How the industry responds to these trends will define population, electronic payments are at the epicentre of both how successful it is in the coming years and its this transformation. impact on society overall. Payments are increasingly becoming cashless, and We hope that you find these insights helpful and the industry’s role in fostering inclusion has become provocative. Please feel free to reach out to me and my a significant priority. Payments also are supporting colleagues with your comments and feedback. the development of digital economies and are driving innovation—all while functioning as a stable backbone for Sincerely, our economies. Peter C. Pollini Principal, PwC US [email protected] 3 | PwC Navigating the payments matrix Figure 1: Cashless transaction volume will more than double by 2030 Where are Number of cashless transactions in billions 61% we now? GROWTH Total 3,026 82% GROWTH Sending a text to pay for a bus ticket in 1,818 Turkey, using a QR code to buy groceries in China, or tapping a sales terminal with Total 1,882 a mobile phone in the US.
    [Show full text]
  • EMV® Secure Remote Commerce Presentation
    EMV® Secure Remote Commerce What is Remote Commerce? Remote Commerce E-commerce Online Payments Digital Web-based Payments Commerce Copyright ©2017©2018 EMVCo – Confidential 2 When Does Remote Commerce Happen? • During the checkout process a merchant asks a consumer to provide or select a payment method for a purchase • Checkout may also include: Remote commerce – Verification of the cardholder and present happens at the bill of sale checkout process – Delivery of information to enable the receipt of the purchased goods or services Copyright ©2017©2018 EMVCo – Confidential 3 Challenges within the Industry Landscape Remote commerce continues to grow worldwide with the popularity of online purchasing. However, it has become increasingly targeted and susceptible to compromise. • Current environment • Variety of • Primary Account has many different implementations Numbers (PAN) entry, integration models result in transmission and which can be fragmentation, subsequent storage of expensive and time complexity, and live PAN introduces intensive for inconsistency significant risk merchants Copyright ©2017©2018 EMVCo – Confidential 4 Concerns with Remote Commerce Each stakeholder needs to balance different concerns associated with payment card acceptance during a remote commerce checkout experience Merchants Consumers • User friction increases cart • Concerned that account will be abandonment compromised • Online transactions carry increased risk • Don’t have the same level of • Supporting multiple, unique payment convenience (e.g. multi data
    [Show full text]