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Smooth Sailing for Danish Payments April 2016 Issue 530 www.cardsinternational.com SMOOTH SAILING FOR DANISH PAYMENTS • DIGITAL: Moven • PAYMENTS: Cards v.s. Mobiles • PRODUCTS: Charities & Contactless • COMMENT: Worldpay CI 530.indd 1 01/04/2016 15:33:47 Multichannel digital solutions for fi nancial services providers To fi nd out more about us please visit: www.intelligentenvironments.com Intelligent Environments is an international provider of innovative mobile and online solutions for fi nancial services providers. Our mission is to enable our clients to always stay close to their own customers. We do this through Interact®, our single software platform, which enables secure customer acquisition, engagement, transactions and servicing across any mobile and online channel and device. Today these are predominantly focused on smartphones, PCs and tablets. However Interact® will support other devices, if and when they become mainstream. We provide a more viable option to internally developed technology, enabling our clients with a fast route to market whilst providing the expertise to manage the complexity of multiple channels, devices and operating systems. Interact® is a continuously evolving technology that ensures our clients keep pace with the fast moving digital landscape. We are immensely proud of our achievements, in relation to our innovation, our thought leadership, our industrywide recognition, our demonstrable product differentiation, the diversity of our client base, and the calibre of our partners. For many years we have been the digital heart of a diverse range of fi nancial services providers including Atom Bank, Generali Wealth Management, HRG, Ikano Retail Finance, Lloyds Banking Group and Think Money Group. IE RBI final design.indd 1 17/09/2015 11:21:32 Cards International EDITOR’S LETTER CONTENTS EDITOR’S LETTER 2 COMMENT: CONFERMA/THAMES CARD TECHNOLOGY New £30 limit proves instant Simon Barker from Conferma discusses how virtual card numbers can aid corporate payments. In contactless hit addition, Paul Underwood argues that challenger banks need to find the right combination of card and o far, so good. The card payment limit Commercial cards opportunity? mobile technology to be competitive increase to £30 from £20 last Septem - The EU interchange fee caps that finally came into 6 DIGITAL: MOVEN ber was always expected to provide a effect last December relate only to consumer cards Robin Arnfield talks to Vincent further boost to contactless transaction and so, the argument went, there would be great Bahk, Moven’s chief customer S stats. scope for cards schemes to expand more profitable officer, on why the New York-based Figures released by Visa on 4 April show that commercial cards. bank is being considered as a player that is really changing the mould in contactless transactions over £20 are growing at Commercial cards in Europe account for only the financial sector more than double the rate of those under £20 with about 5% of all payment cards in Europe, but is 8 AWARDS: ASIA TRAILBLAZER 2016 bars and pubs a prime mover driving contactless there any evidence of innovation, new product The winners of the 2016 Asia growth. launches? Trailblazer Awards have been announced, rewarding the Visa report 36 million contactless transactions institutions setting the industry over £20 in the first six months since the limit Google learns expensive lesson alight increase amounting to nearly £900m of transac- Estimates vary but Google is reckoned to have 9 PAYMENTS: CARDS VS MOBILES tions chucked $300m in digital payment startup acqui- Philipp Nieland, co-founder and Contactless transactions over £20 saw an sitions to support Google Wallet. Add in the cost CTO of the PPRO Group, believes that average monthly growth rate of 19.1% between of hundreds of developers who do not come cheap. the hype around mobile payments is unjustified as cards are just as October 2015 and March 2016. This is over Then add in the cost of launching and running mobile as smartphones twice the average monthly growth rate of 8% for its Wallet Card, the physical debit cards linked to contactless transactions under £20 over the same Google Wallet accounts, now unceremoniously 10 PRODUCTS: CHARITIES & CONTACTLESS period, highlighting consumer appetite to use the axed. Charities have finally taken the technology for more expensive purchases. Customers with a Wallet Card won’t be able to plunge and are beginning to accept Contactless payments now make up 10% of all add money to it after 1 May and the cards (and contactless donations. How will this affect the industry? Alexander face-to-face payments between £20 – £30 with recurring transfers set up with it) will be cancelled Atkins investigates service stations, supermarkets and restaurants all on 30 June 30. Android Pay will also stop accept- reporting significant contactless growth. ing Wallet Card payments. 11 DEBATE: DIGITAL BANKING CLUB In supermarkets, where the average supermar- Google will now bank on a peer-to-peer pay- In the latest Digital Banking Club debate, hosted by Intelligent ket basket is £25, Visa’s figures show a 100% ments system pitting it against the likes of PayPal Environments, the discussion increase in contactless transactions compared to and Facebook Messenger. focused on what the financial sector in the UK could learn from the six months before the £30 limit was intro - As a huge fan of Google (and Android) I will its European counterparts. Patrick duced. be delighted to be proved wrong but on the evi- Brusnahan writes Restaurants have enjoyed a similar boost with dence of Google’s track record to date in financial 14 COUNTRY SURVEY: DENMARK spend there up by a whopping 155%. services, PayPal will not be losing a whole lot of 16 COUNTRY SURVEY: HONG KONG At service stations, the average contactless sleep. < 16 COUNTRY SURVEY: SAUDI ARABIA transaction at the pump has increased by £2.22 20 COMMENT: WORLDPAY since the £30 limit began, rising from £8.47 to Damon Anderson examines the £10.69. effects of payment instalments in Overall, UK contactless payments have risen by e-commerce and online retail Douglas Blakey 237% compared to the same period year-on-year. [email protected] Editor: Douglas Blakey Sub-editor: Tom Langfield For more information on Timetric, visit Tel: +44 (0)20 7406 6523 our website at www.timetric.com. As a Director of Events: Ray Giddings Email: [email protected] subscriber, you are automatically entitled to Tel: +44 (0)20 3096 2585 online access to Cards International. For more Financial News Publishing, 2012 Deputy Editor: Anna Milne Email: [email protected] information, please telephone +44 (0)20 Registered in the UK No 6931627 Tel: +44 (0)20 7406 6701 3096 2636 or email customer.services@ Sharon Howley ISSN 0956-5558 Email: [email protected] Head of Subscriptions: uk.timetric.com Tel: +44 (0)20 3096 2636 Unauthorised photocopying is illegal. The Reporter: Patrick Brusnahan Email: [email protected] London Office contents of this publication, either in whole or Tel: +44 (0)20 7406 6526 71-73 Carter Lane part, may not be reproduced, stored in a data Email: [email protected] Sales Executive: Alexander Koidis London retrieval system or transmitted by any form or Tel: +44 (0)20 3096 2586 EC4V 5EQ means, electronic, mechanical, photocopying, Asia Editorial: Xiou Ann Lim Email: [email protected] Asia Office recording or otherwise, without the prior Tel: +65 6383 4688 1 Finlayson Green, #09-01 permission of the publishers Email: [email protected] Customer Services: Singapore 049246 Group Publisher: Ameet Phadnis Tel: +44 (0) 20 3096 2636 Tel: +65 6383 4688 Tel: +44 (0)20 7406 6561 or +44 (0)20 3096 2622 Fax: +65 6383 5433 Email: [email protected] Email: [email protected] Email: [email protected] www.cardsinternational.com April 2016 y 1 CI 530.indd 1 01/04/2016 15:02:19 OPINION: CONFERMA/THAMES CARD TECHNOLOGY Cards International Digitising expenses CNs (Virtual Card Numbers) have handle expenses? A staff member has to and there is no way to know if it is being the power to change radically purchase something on company business. spent on the right things. the complex world of corporate They then have to fill in forms, collate their Surely, in this age of digital banking, near payments. receipts, scan them and then get it all over to instant money transfers and automated rec- V onciliation, we can do better. This is a bold statement, but one that rais- the appropriate member of staff. es two questions. How can they change this The accounts department then have to Well, we can. Virtual card numbers make environment and, crucially, why does it need manually reconcile the expenses and author- the whole expenses and corporate payments changing in the first place? ise a payment to be made. If our member of process easy and automated, leaving no one How business handles corporate payments staff is lucky, they’ll get it in a week. If not, out of pocket. and expenses needs overhauling because, for they might have to wait till their next payday. To put it simply, VCN technology mod- the most part, it's a steam powered system in It’s a system where no one wins. The poor ernises corporate payments and expenses. It a digital powered age. member of staff has a mountain of paper- rationalises a complex and confusing system Think about how banking has changed in work to fill in, has to keep track of their to the benefit of all of the stakeholders. the last twenty years. For those of us of a receipts and has to wait up to a month to be This sort of technology is already being certain age, it wasn’t that long ago that busi- reimbursed the money they are owed.
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