As 2012 draws to a close what has occurred this year in the payments industry? Certainly the continued economic uncertainty has been a key limiter in banking and payments but at PayX we have seen pockets of exciting innovations driving smart new revenues which we expect to continue.
Mobile Payments continues to be the sexy title of the year; maybe we have reached tipping point with the likes of iZettle, LevelUp, mPowa, PayPal, etc. Square is getting attention & big deals – the Starbucks rollout being the most obvious. NFC continues to grow. Banking Apps really have moved from being pure online banking clones to becoming a popular feature which users have embraced.
On the more traditional front corporate events like ACI acquiring Distra perhaps is another recognition that the market needs are moving away from the older dominating legacy architectures. Other players in the Card Acquiring and Switching platforms all seem to be progressing steadily. Banks are understandably slow to make such large critical payments infrastructure rejuvenation decisions. They are constantly reminding themselves they need to implement tomorrows infrastructure, not regenerate yesterdays. Not easy.
So what will 2013 hold? We believe more of the same, with perhaps a few new really big players entering from a Commerce perspective absorbing Payments, potentially real game changers. In January look out for our 2013 Mega Trends feature and check out all the latest insights from PayX on our interactive website/blogs. Enjoy your Christmas break and we look forward to working with you and hearing from you in the New Year
The PayX Team
RIVERWOODS, Ill.–(BUSINESS WIRE)–Nov. 12, 2012– Discover today announced the next milestone in its global EMV deployment: a comprehensive strategy and roadmap that includes Discover Network, Diners Club International, PULSE and Discover Card. In alignment with U.S. EMV migration timelines, Discover is introducing Fraud Liability Shift for Discover Network (in the U.S., Canada and Mexico) and PULSE (in the U.S.), effective October 1, 2015 at point-of-sale terminals and Oct. 1, 2017 at automated fuel dispensers. This Fraud Liability Shift policy will be a risk-based payments hierarchy that benefits the entity that leverages the highest level of available payments security. As Fraud Liability Shift is already in place for Diners Club International (effective December 31, 2012 for mandated Participants), Discover will have one standard liability shift policy in place across all networks by October 1, 2015.
20 November 2012 – Life is about to get a whole lot easier for Aussies. In the true spirit of innovation, Vodafone and Visa today announced an exciting preview of what’s in-store for us in 2013 and beyond. A game-changing mobile application is headed to our shores promising to not only shrink the contents of our pockets and handbags, but to take the stress out of shopping. Meet Vodafone SmartPass; a nifty new smartphone app launching next year across the world through Vodafone; which will enable consumers to pay for goods and services with a simple wave of a compatible smartphone. In the fashion of a Visa payWave card; Vodafone SmartPass relies on contactless, Near-Field-Communication (NFC) technology to process transactions securely via the Visa network, direct from your smartphone, fast
London, Bangalore – November 12, 2012: Despite conflicting priorities and the economic downturn, banks around the world are still increasing their investments in innovation. These key findings are part of “Innovation in Retail Banking 2012,” the fourth annual study commissioned by Infosys, a global leader in consulting and technology, and Efma. The study of 300 bankers in 66 countries across Europe, the Middle East, Africa, the Asia-Pacific region, and the Americas also found that online and mobile channels are growing rapidly, with banks focused on areas of innovation that will attract new customers and grow revenues
13 November 2012 – FOSTER CITY, Calif.–(BUSINESS WIRE)–Visa Inc. (NYSE: V) today expanded the reach of V.me by Visa, landing more than 50 additional financial institution partners. V.me, Visa’s new digital wallet service, frees online shoppers from having to repeatedly enter account number, bill-to and ship-to information at checkout. This will change the way tens of millions of people shop and pay by making online checkout simple and secure. Account holders will be able to make payments online using V.me and check out simply by entering a username and password. These relationships bring the addressable base of cardholders to as many as 55 million, allowing account holders to easily enroll Visa and other U.S.-issued payment cards through V.me and begin shopping online from a PC, tablet or mobile phone. Consumers can visit www.V.me to enroll and shop immediately at any of the 23 top eCommerce retailers live with V.me, including 1-800-FLOWERS.COM, Shoebuy.com, cooking.com, Rakuten Buy.com, Blue Nile, and many more
21 November 2012 – The European Commission has decided to refer Belgium to the Court of Justice of the EU for failing to implement the Directive on the taking up, pursuit and prudential supervision of the business of electronic money institutions. The Commission has also decided to ask the Court to impose daily penalty payments on Belgium until it fully implements the Directive. Directive 2009/110/EC was adopted in September 2009 and had to be implemented in all EU Member States by 30 April 2011. Most Member States have adopted implementing legislation. However, Belgium has not yet notified to the Commission any national implementing measures. The Commission sent a reasoned opinion to Belgium in April
Cape Town, South Africa, November 13th, 2012: Fundamo, a Visa Inc. company and a leading specialist mobile financial service provider, today reported accelerated growth of mobile financial services in Africa. In 2012, Fundamo has launched three new services – FirstMonie with First Bank Nigeria in Nigeria and Celpay with Celpay International in Uganda and Zimbabwe. Fundamo now supports a total of 27 deployments in 19 countries across Africa. Fundamo’s success is testimony to the demand for mobile financial services driven by the needs of 647 million consumers in Africa that do not have a formal bank account (World Bank, 2012)
28 November 2012 – Mobile banking is on the rise, now used by 33% of mobile consumers, up from 24% in 2011. Of the top 25 US financial institutions by deposit, about half are offering mobile person-to-person (P2P) transfers and mobile remote deposit capabilities, a figure that has more than doubled since 2011. Javelin Strategy & Research’s latest report examines and evaluates the 25 leading U.S. retail financial institutions (FIs) mobile banking offerings by comparing features, mobile access, app, web and text banking, and mobile alerts
8 November 2012 – VeriFone Systems, Inc. (NYSE: PAY), today announced the availability of SAIL EMV, a new platform that enables banks and acquirers around the world to quickly provide smartphone and tablet-based chip-and-PIN card payments solutions to small and medium-sized merchants. SAIL EMV provides banks and acquirers in more than 100 countries and across six continents with a complete solution to expand their product portfolios with custom-branded services that enable mobile merchants to accept chip-and-PIN payments
Dubai, United Arab Emirates, 20 November 2012 – MasterCard Worldwide, Comviva Technologies and Tutuka today announced a strategic collaboration that combines Comviva’s mobiquity® mobile payment platform, Tutuka’s prepaid processing platform and MasterCard’s global electronic payments network to further extend financial inclusion to millions of consumers across Africa. The collaboration will enable Operators providing mobile money services using Comviva’s mobiquity® platform to offer their customers prepaid MasterCard cards or Virtual Card Numbers (VCN) linked to their existing stored value accounts. These will enable customers to purchase goods and services at millions of physical and online retailers worldwide where MasterCard is accepted, as well as transfer funds and pay bills
17 November 2012 – Consumers will be given new powers to request their personal customer data from business, helping them manage their money better and make better lifestyle choices as part of the ‘midata’ programme, under new measures to be announced by Consumer Affairs Minister Jo Swinson on Monday. Following a consultation this summer, the Government will announce that it will look to legislate if companies fail to comply with the voluntary release of consumers’ electronic data. Under new plans, companies would have to release data they hold relating to a consumer’s consumption or transactions in an electronic machine readable format, upon request
Purchase, NY – November 9, 2012 – MasterCard is pleased that the Honorable Judge John Gleeson of the U.S. District Court for the Eastern District of New York has granted preliminary approval in the U.S. merchant litigation and we remain confident that the court will grant final approval in the coming months
(Holly Springs, NC-November 20, 2012) Paragon Application Systems, the leading independent provider of ePayment simulation, configuration and testing solutions, announces that it has joined the EMV Migration Forum. Founded by the Smart Card Alliance, the EMV Migration Forum is a group of payments industry professionals who are collaborating on issues related to the migration from magnetic stripe cards to EMV chip-based cards in the United States.
Singapore, 15 November 2012 – The first ATM installed in Myanmar became the first to accept an international payments card as announced by Co-operative Bank Ltd (CB Bank) and MasterCard Worldwide today. The transaction was made using a MasterCard card at the headquarters of CB Bank on the corner of 23rd Street and Strand Road in Yangon. Myanmar’s first ATM was installed at the same location in November 2011. This comes hot on the heels of the September announcement which saw MasterCard Worldwide become the first international payments network to issue a license to a Myanmar bank, paving the way for branded cards to be issued and accepted in the country for the first time.
Paris – November 29, 2012. Ingenico (Euronext: FR0000125346 – ING), leading worldwide provider of payment solutions, announces the deployment of the new iWL250 3G terminal in Latin America with VisaNet, Visa’s exclusive acquirer and the largest network of credit and debit card acceptance in Peru. Focused on providing secure payment solutions and value added services to cardholders and commercial establishments, VisaNet Peru continues to pioneer in the Latin American market with the launch of the 3G mobile technology of Ingenico.