European Central Bank switches on low cost instant payments system

ECB goes live with pan-European instant payments — European Central Bank — “Target Instant Payment Settlement (TIPS) uses central bank money to settle payments individually in less than 10 seconds… TIPS means consumers can make retail payments across Europe instantly, 24/7/365… The price per initiated transaction is set at €0.002 (US$0.0023) for the first two years of operation, with no charges for the first ten million payments settled on each TIPS account by the end of 2019.” 


Paytm sets sights on US payments market

Paytm chief eyes dominance in Japanese market as ticket to US — MoneyControl — “After becoming an almost household name in India, digital payments major Paytm has set its sight on dominating the Japanese market, a development that its founder Vijay Shekhar Sharma feels will be its ‘ticket’ to the US… ‘If we kill it in Japan, we will get the ticket to go to the big country,’ Sharma said.” 


Contactless donation points go live across London

Mayor doubles street outreach team to help rough sleepers — Mayor of London — “The Tap London points are small, secure payment points that enable Londoners to make £3 (US$3.82) donations by card. 35 donation points will launch today with more than 90 appearing across the capital this winter. Today the Mayor launched the scheme at City Hall, where one of the building’s windows now has a donation point. The other donation points are located in busy areas around the capital.” 


Apple Pay goes live in Belgium and Kazakhstan

Apple Pay now available in Belgium and Kazakhstan — AppleInsider — “For the moment, Apple Pay is exclusive to BNP Paribas Fortis, along with its subsidiaries Hello Bank and Fintro, for both Mastercard and Visa-based cards… The support for Apple Pay in Kazakhstan has started with Eurasian Bank for Mastercard customers. Apple’s list of participating banks and credit issuers that support Apple Pay also includes ATFBank, Halyk Bank, Sberbank, Bank CenterCredit, and ForteBank.” 


Apple Pay and Samsung Pay to go live in Azerbaijan

Apple, Samsung contactless payment systems to appear in Azerbaijan — Trend News Agency — “Apple Pay and Samsung Pay payment services will appear in Azerbaijan in 2019, head of business development and digital payment department of MasterCard Hakan Tatlici told Trend.”

UPDATE Mastercard’s PR representatives in Azerbaijan have contacted NFC World to say that Trend News Agency’s article contained incorrect information and has been updated.

 


Amazon moves into US mobile payments market

Amazon Pay accepted here? Web giant aims to put digital wallet in stores — The Wall Street Journal — “Amazon.com Inc is gearing up to challenge Apple Inc in the mobile payments race. The e-commerce giant is working to persuade brick-and-mortar merchants to accept its Amazon Pay digital wallet, according to people familiar with the matter, attempting to expand a service now used primarily for purchases online.” 


Swiss banks face mobile payments boycott investigation

Swiss watchdog investigates banks over alleged payments system boycott — Reuters — “Switzerland’s competition watchdog has raided the offices of financial companies, including Credit Suisse and UBS, to investigate a suspected boycott of mobile payment solutions such as Apple Pay and Samsung Pay… ‘There is the suspicion that the companies agreed not to make their credit cards available for use with Apple Pay and Samsung Pay, in order to favor the Swiss solution Twint,’ competition commission Weko said.” 


Google Pay goes live in the United Arab Emirates

Google Pay is now available in the United Arab Emirates — 9to5Google — “While not officially announced, the United Arab Emirates was added to various Google Pay support pages today, indicating its imminent availability… It is only available through a handful of banks for now… EIB, ENBD, Mashreq, Standard Chartered.” 


Google Pay rolls out across Scandinavia

Google Pay

Google Pay is now live in Denmark, Sweden, Norway and Finland, with support from Jyske Bank, Nordea and Revolut in Denmark, Nordea, Revolut, Monobank, Storebrand Bank and Sparebanken Sør in Norway, Nordea, Revolut, Länsförsäkringar Bank and Sodexo in Sweden and Nordea, Revolut and Edenred in Finland. More