Checks, cash, and cards are on their way out, right? Not exactly. A majority of U.S. consumers (56%) feel that #mobile payments increase the chance of fraud and theft, according to a study by YouGov released today. As a result, those customers prefer to use debit or credit cards (49%) or even cash and checks […]
Bank Innovation
Mobile wallets, #blockchain, P2P — it’s been busy in the payments world lately. But before focusing on far-off technologies &8212; such as cross-border transfers via blockchain &8212; the payments industry should address #more immediate pain points, according to René Lacerte, CEO of #Bill.com, a #payment processes provider. “Getting rid of checks and automating the back office […]
Bank Innovation
The payments landscape is changing fast due to new disruptive technologies such as open APIs, distributed ledger #technology, cloud, Apple/Samsung/…Pay, and customers’ expectations are changing for seamless and faster payments. Despite this, I can see clear trends through our work with clients and observation of industry developments, and based on these, I have developed a set of #predictions for #2017.
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SAN JOSE, Calif. – #Facebook payments revenue stream has been on a steady decline for years now. In terms of revenue, Facebook is an advertising company. Last year, the social media giant introduced payments via dozens of #bots in its Messenger platform, which (some thought) could in time revive the payments revenue stream for Facebook. […]
Bank Innovation
SAN JOSE, Calif. – #Facebook payments revenue stream has been on a steady decline for years now. In terms of revenue, Facebook is an advertising company. Last year, the social media giant introduced payments via dozens of #bots in its Messenger platform, which (some thought) could in time revive the payments revenue stream for Facebook. […]
Bank Innovation
#Dwolla was always a strange name. The word — a contraction of ‘web’ and &8216;dollar&8217; dreamed up by founder Ben Milne with the aid of a six-pack &8212; is something of a cherished #fintech institution, if little known outside the space. The Dwolla brand takes a step back today with the announcement that its bundled […]
Bank Innovation
Kahina Van Dyke, #global #director of commerce & #payment #partnerships at #Facebook, will be a featured speaker at #Bank #Innovation 2017, which takes place in San Jose on March 6-7. Van Dyke will participate in a fireside chat at the invitation-only event. Facebook has a market capitalization of $ 384.5 billion.Read More
Bank Innovation
Der paneuropäische Zahlungsdienstleisterin SIX #Payment #Services und Chinas Vorreiter für mobiles Zahlen – Alipay – reagieren auf einen Trend im Einzelhandel und erschliessen für Händler das Potenzial von Millionen von Neukunden. Nutzer der beliebten chinesischen Bezahl- App #Alipay werden demnächst ihre Zahlungen in ganz Europa an den Zahlterminals von SIX abwickeln können.
SIX Payment Services und Alipay, die von der Ant Financial Services Group betriebene Zahlungs- und Lifestyle-Plattform, gaben heute ihre enge Zusammenarbeit im Bereich von POS- und E-Commerce- Zahlungen in Europa bekannt. Die Vereinbarung sieht vor, dass der Zahlungsdienst von Alipay in die Zahlungsapplikationen von SIX integriert wird, sodass die Händler von SIX Zahlungen der Alipay-Nutzer über Alipay akzeptieren können.
Die Händler profitieren seit einigen Jahren vom Zustrom der chinesischen Touristen, welche allein 2015 292 Mrd. US-Dollar ausgegeben haben. Der Höhepunkt dieses Trends ist noch nicht absehbar. Millionen von chinesischen Touristen dürften in den nächsten Jahren Europa besuchen. Die spezifischen Zahlungsanforderungen chinesischer Kunden berücksichtigen zu können, kann sich als Alleinstellungsmerkmal für Händler im Einzelhandel und Hospitality-Bereich erweisen.
Alipay. Via Facebook
Alipay ist der führende Zahlungsdienst in China, dem über 450 Millionen Nutzer angeschlossen sind und der bei mobilen Zahlungen über einen Marktanteil von 80% verfügt. Alipay-Kunden sind gewöhnlich technologieaffin und bevorzugen ihr Mobiltelefon für die rasche und einfache Abwicklung von Zahlungen.
SIX und Alipay beabsichtigen zudem, den Händlern Mehrwertdienste zu bieten und den Fokus auf die Unterstützung des Marketings und die Kundenaktivierung im Zielsegment zu legen. Alipay hat ihre Global Lifestyle Plattform bereits in der Alipay-App integriert, um Einzelhändler und Kunden zusammenzubringen.
Rita Liu, Head of Alipay Europe, sagt: «Dank der Zusammenarbeit mit SIX erhält Alipay Zugang zu einem breiten Händlernetz in Europa: Die Alipay-Nutzer werden voraussichtlich bei über 110 000 zusätzlichen Händlern in der Schweiz und anderswo bezahlen können. Als unsere bevorzugte Partnerin unterstützt uns SIX dabei, Alipay zu einem wirklich global akzeptierten Zahlungsdienst weiterzuentwickeln.»
SIX Payment Services verfügt über 220 000 Händler als Kunden und ist in der Schweiz, Luxemburg, Österreich, Deutschland und vielen weiteren europäischen Ländern vertreten.
Jürg Weber, Division CEO SIX Payment Services, dazu: «SIX will die beste Partnerin für Händler sein. Mit der Aufnahme von Alipay in unser Portfolio kommen wir diesem Ziel einen Schritt näher. Unsere Strategie zielt darauf ab, alle Arten von Zahlungen zu verarbeiten, und Alipay als schnell wachsende Zahlungsplattform gehört unbedingt in unser Portfolio. Chinesische Touristen wollen mit ihrer etablierten Bezahllösung auch bei Händlern in Europa zahlen können. SIX freut sich, diese Zahlungsart demnächst anzubieten.»
The post SIX Payment Services spannt mit Alipay zusammen appeared first on Fintech Schweiz Digital Finance News – FintechNewsCH.
International POS printer manufacturer Star Micronics announced that its SM-L200 mobile printer has been selected by iZettle to #provide #London’s #licensed #taxi #drivers with a TfL approved card payment bundle that offers a range of key features and benefits.
SM-L200 mobile printer
Following the requirement for taxi drivers to accept #card and contactless payments as well as provide receipts for those payments upon request, iZettle has partnered with #Star to provide the following #bundle:
· iZettle Card Reader Pro Contactless
· Star SM-L200 Bluetooth receipt printer
· Card reader mount for passenger compartment
· Receipt printer mount for driver compartment
iZettle Card Reader
With iZettle Card Reader Pro Contactless, taxi drivers can accept all major credit cards (including American Express) as well as contactless payments through Apple Pay, Google Wallet and others. For receipting, the super compact lightweight SM-L200 Bluetooth printer from Star offers a high print speed, LCD display and 1.2m drop test capability. Beyond a low power usage, the advantages of BLE #technology with this printer include simple installation given its auto pairing facility with multiple Bluetooth 4.0 Apple iOS devices.
As Annette Tarlton, Marketing Director, Star #Micronics EMEA, states: “Star is delighted to be partnering with iZettle to provide London’s licensed taxi drivers with a reliable and cost effective card #payment and printing bundle.”
The post Star Micronics To Provide London’s Licensed Taxi Drivers With TfL Approved Card Payment Bundle appeared first on Fintech Schweiz Digital Finance News – FintechNewsCH.
Recent regulatory changes in Europe, including the #Payment #Services #Directive (#PSD2), are set to accelerate payments innovation.
The Payment Services Directive (PSD) was initially adopted by the European Union (EU) in 2007 and aimed at providing a legal framework for all payments made in the region with the purpose of making these faster, more efficient and easier to use for European consumers and payments services providers.
In October 2015, the EU adopted a revised PSD – also referred to as PSD2 &8211; that sought to enhance consumer protection, promote innovation and improve the security of payments services.
PSD2 is a major policy development expected to impact the payments industry across Europe through: further standardization and interoperability of cards, Internet and mobile payments methods; the reduction of barriers to entry in particular for card and Internet payments providers, driving thus increased competition, innovation and transparency across the European payments market; as well as providing the necessary legal platform for the Single Euro Payments Area (SEPA).
The directive seeks to improve the existing EU rules for electronic payments, while taking into account emerging innovative payment services, such as Internet and mobile payments. It sets out rules concerning:
The regulation came into effect on January 12, 2016, and EU countries must incorporate it into national law by January 13, 2018.
The new directive brings key changes that include:
Third-party payment initiation: Payment Initiation Service Providers (PISP) will be able to initiate online payments from the payer&8217;s bank account. This will encourage competition in the European payments industry. Accenture estimates PISP services could account for up to 16% of online retail payments by 2020.
The definition of a “payment institution” is extended to new types and categories of players. While the original PSD applied only to transactions occurring within the EU, the PSD2 will extend this scope to &8220;one leg out&8221; transactions.
Third-party account access: The directive will regulate account information service providers (AISPs). These providers act as aggregators of customer payment account information.
Prohibition of card surcharges: The regulation seeks to standardize the different approaches to surcharges on card-based transactions across the EU.
Security of online payments and account access through the introduction of new security requirements for electronic payments and account access, along with new security challenges relating to AISPs and PISPs.
The directive will affect everyone in the shifting payment landscape. This includes #banks, fintechs, the PCI (Payment Card Industry) as well as merchants.
How PISPs and AISPs will change existing interaction models between customers and banks, Accenture report ‘Seizing the Opportunities Unlocked by the EU’s Revised Payment Services Directive&8217;
PSD2 will bring both challenges and opportunities for European banks. Banks will be required to open up their infrastructure to third parties by offering APIs under the XS2A (access to account) rule. They will be forced to grant them access to their customers&8217; online account/payment services in a regulated and secure way.
On the other hand, PSD2 presents significant opportunities to grow new revenue streams &8211; by facilitating and monetizing access to raw data and banking services, for instance &8211;, capture customer ownership and process toward an extended ecosystem centered on the &8220;Everyday Bank,&8221; a concept that takes banking to being trusted, indispensable and central to consumers&8217; everyday activities.
EU banks: challenges and opportunities of PSD2, Accenture report &8216;Seizing the Opportunities Unlocked by the EU’s Revised Payment Services Directive&8217;
Featured image: Mobile banking concept by Ditty_about_summer, via Shutterstock.com.
The post EU&8217;s Payment Services Directive (PSD2): What It Is And Why It Matters appeared first on Fintech Schweiz Digital Finance News – FintechNewsCH.
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