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VIRTUAL 22-25 Feb 2021 POSitivitymagazine THE OFFICIAL MAGAZINE OF MERCHANT PAYMENTS ECOSYSTEM • ISSUE 88 / JANUARY 2021 VIRTUAL 22-25 Feb 2021 Merchant Payments MPE Visa Fraud Prevention Ecosystem 2021 To Acquire in Ecommerce Predictions Plaid Report PREDICTIONS 2021 on page 12 on page 14 on page 24 ATTENDEEEDITORIAL PROFILE ....just a small taste of companies attending MPE 2020 MERCHANTS Dave Birch Director of Innovation Consult Hyperion (Chairman of MPE 2021 conference) INDUSTRY EXPERTS Dear POSitivity magazine readers, integrate payments, we arrive in a truly different place where the physical and online worlds merge. We‘ve talk- ed many times before about shifting from check-out to When we look forward to 2021, it is no surprise that CO- check-in models of retailing and it seems that the pan- VID-19 is the dominant factor. So far as the merchant demic is driving a great many organisations to make the paymentsSOLUTION world PROVIDERSis concerned, the shape of the post- transition: when retailers ask customers to check-in, so pandemic new normal transaction environment must they know who the customers are, they can actually de- be the key strategic consideration for stakeholders and liver much better, personalised services. I am desperately keen to hear the variety of informed opinion on this topic that I have come to expect at Mer- Integrated Transport and Access chant Payments Ecosystem every year. Here at Consult Hyperion we’d like to contribute to these conversations I can remember a number of discussions about the dis- by providing a useful framework for discussion: our an- proportionate role of transit in bringing new transac- nual “Live Five”, our yearly set of suggestions for strate- tions modes to the general at past MPE events. 2021 is gicACQUIRERS focus. This year, we& PSPS choose to look at the key issue of going to be about access to transportation, as the world pandemic transformation and its impact of on the three escapes the grip of the pandemic, using any mode a key domains where our clients operate: Payment, Iden- person feels most comfortable with. This will facilitate tity and Transit, together with (as is traditional!) a sug- integrated access to transportation; with public transit gestion as to a technology that the POS world may not authorities looking to integrate with private offerings be thinking about but probably should be. (such as micro-mobility services, bike and scooter share schemes and ride sharing). We‘ve seen the rise of apps Pandemic Pressure and the Contact-Free Future such as the "https://transitapp.com/region/london-uk Transit and "https://citymapper.com/london?lang=en" The trend to cashless-ness accelerated through the Citymapper app, and agencies will expose APIs to en- pandemic and has given a huge boost to contact-less able access to their transportation services through payments across sectors and regions. Consumers now the mobile. In this push for access, it is important that demand contact-less payments, and merchants have operators ensure they provide contact-free access for responded,SCHEMES advertising & REGULATORS their acceptance. But contact- all their riders, which means bringing pre-paid and per- less was only the start: the pandemic has accelerated haps even the first digital currency solutions into mass the trend toward contact-free commerce. We‘ve seen markets. alternative contact-free mechanisms (appear, with pubs and restaurants teaching us to scan QR codes to access Instant Payment in Action menus, place orders, etc. Once we add the ability to ....full list of companies attending MPE 2020 is here 2 POSitivity www.merchantpaymentsecosystem.com 3 Instant payment technology allows for a whole set of enforcement, the question is who should set the rules? interesting possibilities. In Europe, PSD2 with its API In the UK, the government is trying to lead the way requirements for instant payments from account and with its new "https://www.computerweekly.com/blog/ account information access, has focused on creating Computer-Weekly-Editors-Blog/Meet-the-Identity-and- an alternative to card payments and there was great Attributes-Exchange-GDSs-future-for-digital-identity- discussion about this with respect to the "https:// after-Verify IAX framework expected early in 2021. The www.ecb.europa.eu/press/pr/date/2020/html/ecb. EU is redoubling its efforts to see pan-European digital pr200702~214c52c76b.en.html identity in place to enable the new economy. European Payment Initiative, EPI at the MPE Sum- mer Week (7-11 September 2020) and this opened up There may be a wild card here though: the pandemic many questions in my mind. Do instant payments mean push for vaccination credentials and test certificates change at the retail level in 2021? At physical POS or on- opens up a new vector for digital identity into the retail line only? How will the acquirers and PSPs manage these environment in 2021. It’s time for stakeholders to take a transactions? serious look at the new business opportunities around digital identity. But perhaps that‘s not the first big opportunity. Bill pay- ments built on the "https://www.wearepay.uk/request- Micro-Location to-pay/" Request to Pay infrastructures of the UK, and EU, could completely revolutionise the ability for con- Gazing further out, new technologies (well techni- sumers and businesses to manage the subscription and cally not so new), such as "https://insights.samsung. direct debit payments, upon which much commerce is com/2020/08/21/what-is-ultra-wideband-and-how- based. does-it-work/" Ultra-Wideband (UWB), are becoming mainstream with their inclusion in Apple‘s iPhone 11 Beyond that, lots of other interesting things are happen- Pro and the Samsung Galaxy Note. UWB facilitates very ing. "https://www.swift.com/" SWIFT is looking to extend accurate location of devices at room scale, in a way that services into transaction management while "https:// is far more reliable than that offered by Bluetooth. UWB rtgs.global/" RTGS.global wants to revolutionise coun- will enhance the mobile face-to-face retail and P2P pay- terparty banking. "https://www.ecb.europa.eu/paym/ ments experience due to its accuracy in determining target/tips/html/index.en.html TIPS should improve the relative orientation. Imagine if instead of scanning a QR real-time flow of funds in the Eurozone while initiatives code or fumbling to type an email address, you simply like https://nordicpayments.eu/" P27 in the Nordics will point your device toward a retail terminal or a friend‘s allow cross-border, real-time, cross-currency transac- phone, tap & Confirm on your phone and you‘re done. tions. Once available, banks and fintechs can genuinely innovate on top of these services. See You There Identity Governance So there you have it. In 2021, the vanguard of embedded financial services will be built on instant payment infra- The pandemic has demonstrated, clearly, the impor- structure that will spill into the delivery of identity with tance of digital identity. As governments and businesses robust governance. Consumers will experience a shift to have been forced to provide their services remotely, in-app payments and contact-free environments. And digital identity has been a key enabler. But there have as technology continues to evolve and become main- also been issues. The widely reported fraud that around stream, micro-location will facilitate integrated access government pay-outs provides a stark illustration of the in transit, and across all domains. The Consult Hyperion lack of effective digital identity in many places. team look forward to discussing all of this issues and more at MPE 2021, so e-see you there! That‘s not to say that digital identity solutions don‘t exist. Take mobile onboarding for example. There are dozens of companies offering solutions, but it can be difficult to gauge how good each one is. To get that as- surance, we need rules and a way of showing that solu- tions follow those rules. This topic of rule setting, or more broadly „governance“, is one that our customers are increasingly talking about and we think will be a major area of concern through the next year. If governance is about rule setting and POSitivity 3 REGISTER NOW! EARLY BIRD ends on Jan 31 VIRTUAL 22-25 Feb 2021 REGISTER NOW! EARLY BIRD ends on Jan 31 VIRTUALEur ope's 22-25 Feb La 2021rgest Merchant Payments Conference Europe's Largest Merchant3 WEEKS Payments TOConfe GOrence to MPE 2021 3 WEEKS TO GO 1000+ Merchants & payment providers to MPE 2021 will be there. HAVE YOU REGISTERED? 1000+ Merchants & payment providers will be StheAVEre. BIG H A/VE 20% YOU OFF REGISTERED? on your conference pass! ( by Feb 15) SAVE BIG / 20% OFF on your conference pass! ( by Feb 15) REGISTER HERE! OR remindREGISTER me to register one week HERE! before the event: Set a Calendar Reminder (.ics) OR remind me to register one week before the event: Set a Calendar Reminder (.ics) MEET 2021 SPEAKERS We are proud to announce First 50 speakers: MEETBiggest & 2021 Brightest SPEAKERS industry names! We are proud to announce First 50 speakers: Biggest & Brightest industry names! REGISTER NOW! EARLY BIRD ends on Jan 31 VIRTUAL 22-25 Feb 2021 Europe's Largest Merchant Payments Conference 3 WEEKS TO GO to MPE 2021 1000+ Merchants & payment providers will be there. HAVE YOU REGISTERED? SAVE BIG / 20% OFF on your conference pass! ( by Feb 15) REGISTER HERE! OR remind me to register one week before the event: Set a Calendar Reminder (.ics) MEET 2021 SPEAKERS We are proud to announce First 50 speakers: Biggest & Brightest industry names! REGISTER NOW! EARLY BIRD ends on Jan 31 VIRTUAL 22-25 Feb 2021 Europe's Largest Merchant Payments Conference 3 WEEKS TO GO to MPE 2021 1000+ Merchants & payment providers will be there.
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