What's New in Payments

Public-private sector digital currency experiment releases results of phase II

Public-private sector digital currency experiment releases results of phase II — Payments Canada — “The Bank of Canada, along with Payments Canada, R3 and seven commercial banks, today disclosed the results of phase II of Project Jasper, an experimental wholesale interbank payment system, using digital ledger technology (DLT)… The results show that, despite progress made, underpinning an entire wholesale payments system with DLT still faces many hurdles.”



BBVA makes eight APIs available to kickstart open banking program

BBVA API Market

Spanish bank BBVA has launched its open banking program by making eight of its APIs commercially available for the first time, meaning that third-party companies including startups and developers will be able to build new products and services by accessing and integrating customers’ banking data into their applications. More


What's New in Payments

Euro Banking Association paper analyses cryptotechnologies in international payments

Euro Banking Association paper analyses cryptotechnologies in international payments — Euro Banking Association — “Our information paper shows how this technology could support industry players in meeting user expectations regarding speed, transparency and cost. We strongly believe that collaborative initiatives in this area, in particular, could unlock significant value for payment service providers and their customers.”


Introducing Paytm Payments Bank

Introducing Paytm Payments Bank — Paytm — “We are proud to bring you Paytm Payments Bank — India’s first bank with zero charges on online transactions, no minimum balance requirement and free virtual debit card… Our ambition is to become India’s most trusted and consumer-friendly bank.”



What's New in Payments

Samsung Pay goes live in Taiwan with seven banks

Samsung Pay has been launched across Taiwan with support from Visa and Mastercard along with seven major banks including Citibank, Cathay United Bank, E.Sun Commercial Bank, Taishin International Bank, Fubon Bank, Union Bank of Taiwan and Standard Chartered. The service supports iris scan authentication for those with Samsung Galaxy S8 and S8+ devices. More


BBVA integrates its financial services into social and messaging networks

BBVA integrates its financial services into social and messaging networks — BBVA — “BBVA customers can now interact in Spain with the bank via social networks and instant messaging services. BBVA has developed two new tools, Chatbot and BBVA Cashup, which allow customers to access financial information via Facebook and Telegram, and also to make payments via Bizum from Whatsapp or any messaging service.”



Disconnected experiences put customer loyalty at risk

Disconnected experiences put customer loyalty at risk — MuleSoft — “Nearly half of UK consumers (48 per cent) would be happy for banks to share their banking transaction history with a trusted third-party if it gave them a more personalised banking experience… Nearly a third (30 per cent) of UK respondents would consider using Amazon, Google, Facebook or Apple for banking services if it was offered, rather than using their standard bank.”



What's New in Payments

In cashless Sweden, even God now takes collection via an app

In cashless Sweden, even God now takes collection via an app — Bloomberg — “A growing number of Swedish parishes have started taking donations via mobile apps… Most of the country’s bank branches have stopped handling cash; some shops and museums now only accept plastic; and even Stockholm’s homeless have started accepting cards as payment for their magazine.”


What's New in Payments

Samsung Pay goes live in the UK with iris scan authentication and faster transit payments

Samsung Pay in the UK

Samsung Pay is now available in the UK for customers of three financial institutions — MBNA, Nationwide and Santander — with “more on the way”. The service supports iris scan authentication as well as PIN and fingerprint authentication for Samsung Galaxy S8 and S8+ owners and offers a ‘transport card’ option designed to speed up transactions on busy Transport for London (TfL) services. More




One in four banks find it difficult to verify the identity of online banking customers

One in four banks find it difficult to verify the identity of online banking customers — Kaspersky Lab — “According to the research, in 2016, 30% of banks have had security incidents affecting banking services delivered via the internet — with phishing against customers, and using customer credentials for fraudulent activities, as the top contributing factor leading to the attacks.”



What's New in Payments

CSOB: Why HCE was the right choice for a mobile wallet that goes beyond payments

Jan Nezbeda

Open communication and the right education for customers is key to the successful deployment of a host card emulation (HCE) based mobile payment service in a country where new banks — with their simple products and new communication style — are becoming more attractive to the younger generation, says Czech bank CSOB’s innovation manager. More