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Payments Buzzwords 2018: Authentication, Identity and Chinese BigTech
Authentication tipping point – will PSD2 change we way we pay? Talking about 2018 is hardly possible without mentioning PSD2. So here it is, on top of my list. On January 13 PSD2 will go live. However, some aspects of the new regulation will not be enforced until around 18 months later, when the Regulatory [...]
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Ant Financial forced to abandon MoneyGram purchase due to US regulatory pressure
Ant Financial, the digital payments arm of Alibaba, has been forced to abandon a merger with MoneyGram, having failed to satisfy the US government that the deal posed no risk to America’s national security. Ant announced a deal to buy MoneyGram for about $880m in cash almost a year ago, saying it would jump-start its [...]
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Retailers to benefit as banks open networks in compliance with new payments regulations
Retail companies could become the new face of everyday financial transactions once the Revised Payments Services Directive, known as PSD2, goes into effect in the European Union in January. PSD2 requires banks to grant third-party providers – such as retail merchants – access to a consumer’s online account/payment services in a regulated and secure way, [...]
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2018 business banking trends and outlook
Although banks and financial institutions around the world are faring relatively better than their recent past, competitive pressure from traditional rivals and emerging competitors are tightening margins, and impacting profit across both retail and business banking units. The banking and finance industry is increasingly being driven by expectations set by the “GAFAs”, (Google, Amazon, Facebook [...]
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Visa wins High Court interchange fees battle with Sainsbury’s
As Sainsbury’s prepares to appeal after it lost a High Court case with Visa over a long-running row over interchange fees, Visa has welcomed the decision which confirms that its interchange fees, are lawful. The supermarket... more
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