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/PRNewswire/ -- The Smart Payment Association (SPA) draws attention to the increasing risks in payment card availability, caused by global shortages o 
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Israeli fintech Rewire, which has developed a cross-border international banking service for migrant workers, has secured $12 million in a funding round led by Viola Fintech and including contributions from BNP Paribas and strategic banking partner Standard Bank.
Vineet Anand's insight:
Rewire raises $12 million funding round to expand EU footprint for migrants to deposit money into a digital bank account, a debit and a remittance service.
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Barclaycard, which processes nearly half of the UK’s credit and debit card transactions, has extended an existing provisional agreement with Alipay, enabling retailers across the country to accept the Chinese payment app at the point-of-sale.
Vineet Anand's insight:
Alipay makes inroads to UK with card acceptance at Barclaycard network of merchants using QR code!
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The Mexican central bank is in talks with Amazon about support for a new government-backed QR code-based mobile payments service, according to Reuters.
Vineet Anand's insight:
MercadoLibre and Amazon in talks with central bank to adopt QR based mobile payments.
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Move follows successful pilots in Columbus OH and Denver
Vineet Anand's insight:
KrogerPay, a QR code based payment wallet that can be linked to credit, debit and prepaid cards offers rewards for use. Double the rewards by using the Kroger debit card! With a foot traffic of 9 million in stores daily across 2,800 locations, the solution will benefit those that find the reward program worthy of use. We have a number of different 'Pay' products in the market, thus moving consumers to select QR based Kroger will depend on the might of the rewards program.
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Here’s something to think about the next time you are swigging down a frothy Double Mocha Macchiato at the viridian mermaid’s: your Starbucks Rewards app is one of the main reasons why the U.S. lags behind China, Sweden and many others in adopting mobile fintech and cryptopayment solutions.
Vineet Anand's insight:
Interesting article that touches at the surface level the rationale for slow adoption to mobile payments. I do not agree with the walled garden limitations holding back growth in mobile payments - the issue is more complex than shared by the author. Key drivers for US slower adoption, missing in the article, are EMV adoption by both issuers and merchants (Europe and Asia started more than a decade ago), lack of contactless cards (VISA and JPM are now getting serious), absence of dual cards, marketing rewards for usage of contactless, removing friction with Networks, Issuers, and Acquirers open to adopting EMV wherein US is one of the last developed markets. The market is large enough to support multiple players from Apple Pay, Google Pay, Venmo, PP, Starbucks and others - similar to Sweden, India, China, South Korea, UK and others. Technology adoption across the different personas needs to be enabled.
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PayPal credit reaches a new milestone of $50 billion transaction volume. It is one of the easiest choices for merchants to add deferred option to their site.
Vineet Anand's insight:
PayPal Credit hits $50 Billion milestone in TPV. Interestingly $10 billion was generated in 2018 with Nov & Dec driving $2 billion. BillmeLater acquisition rebranded as PP Credit is starting to gain traction. Competition in the space from Affirm, Klarna, SplitIt, AfterPay will continue - however brand and a sizable 246 million active user base with merchant store acceptance gives PP the advantage.
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The bill would make New Jersey the second state to prohibit retailers from refusing to accept cash and the first since 1978.
Vineet Anand's insight:
NJ bill advancing towards cashless store ban to allow cash only customers have a choice of purchase. The bill has some merit and as more mobile, neo-banking channels emerge - access to a certain segment of population is still limited. Offering choice brings in inclusion!
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The mall is the first in the UAE to offer this payment option
Vineet Anand's insight:
WeChat makes its move to Emirates Mall to have shoppers from China spend via mobile payments across retail, shops, leisure center with a 'red packet' reward being the week of CNY!
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Dunkin' (DNKN) delivered earnings and revenue surprises of 9.68% and -3.20%, respectively, for the quarter ended December 2018. Do the numbers hold clues to what lies ahead for the stock?
Vineet Anand's insight:
Dunkin now has 10 million loyalty DD perks customers, an uptick by 2 million over the past year accounting for 12% of US sales. Order-ahead now contributes to 3% of transactions. Starbucks has ~16 million die-hard reward members and its loyalty program grew 14% YOY! None of these franchises will convince me to give up great Italian and Greek coffee... a coffee snob for sure!
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Introducing an easy, quick and secure way to pay with your iPhone, available for all Monese personal cards
Vineet Anand's insight:
Apple Pay expands to Monese in UK and N26 in Germany. Apple Pay’s volume more than doubled annually to reach 1.8 billion transactions in Apple’s fiscal Q1 2019; its success in international markets with 85% of its users outside of the US. The UK is a particularly promising growth market for Apple Pay home to contactless payments for over ten years ago.
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Stripe has secured another $100 million in funding, this time from Tiger Global Management, boosting the payments firm's valuation to $22.5 billion.
Vineet Anand's insight:
Stripe's valuation at $22.5 billion, a nice $2.5 billion jump from the September Series E round. An impressive set of releases planned for 2019!
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The Australian Payments Council is calling for input from businesses, NGOs, government and consumers on what’s needed to support payments in the digital economy of the future.
Vineet Anand's insight:
Interesting trends are slated by the Australian Payments Council:
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The Church of England has teamed up with payments firm SumUp to trial a 'digital collection plate' that lets members of church congregations donate with their card or phone, rather than cash.
Vineet Anand's insight:
Parishioners can now pay digitally at Church of England with product offering from SumUp. Church goes digital.. next opportunity is RPA in their back office processes!
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TD Ameritrade is making it possible for individual investors to fund a brokerage account with just a few clicks on an Apple iPhone.
Vineet Anand's insight:
TD introduces a faster credit to brokerage account using Apple Pay. Traditional funding can take 3 to 5 business days for most brokerage accounts; a daunting wait for investors. Apple Pay will be an expensive option and limited to iPhone potential customers. TCH, Zelle are options that will have daily limitations.
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Customers of Lloyds, Halifax and Bank of Scotland have been affected by a Faster Payments glitch that has left them unable to transfer money.
Vineet Anand's insight:
Some of LBG customers impacted by Faster Payments outage!
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In December banks, credit unions, fintech businesses, retailers, and technology providers submitted comments to the Federal Reserve regarding their proposal
Vineet Anand's insight:
Should the Fed provide Faster Payments in US? There are learnings from emerging and advanced payments markets including India, Malaysia, Singapore, Australia that have been effective in demonstrating success. TCH cannot be the only solution?
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Vineet Anand's insight:
Vital products launch by TSYS pitting against Clover, Square, Poynt, Stripe targeted at SMB's agnostic of processor. iMobile3 acquisition aiding the product.
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Malaysian consumers can now conduct instant P2P payments using just the recipient's mobile phone, passport or identity card numbers with the go-live of the country's Real Time Payments platform.
Vineet Anand's insight:
DuitNow, the real-time payments goes live in Malaysia instituted by Paynet, a coalition of banks and Centra Bank.
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Kate Spade, Fossil, and Michael Kors announced new smartwatches at CES, including new models with NFC, GPS, and heart rate monitoring.
Vineet Anand's insight:
Kate Spade and Michael Kors are feeling the pinch from Apple Watches that have GPS, HR monitors and payments! The new versions of watches will fend off against Apple watches with Google Pay as NFC payment option. Curious to see how many Kate Spade and Micheal Kors customers have an Apple Phone.. it will create confusion for customer use watch to pay (with Google) or Apple iPhone?? Apple has 77% of the debit card trx in US market.
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In-App Payments SDK rounds out Square’s omnichannel payments platform, making Square the only provider with first-party products across online, in-person, and mobile app payments Today Square (NYSE: SQ) announced the launch of the Square In-App Payments Software Development Kit (SDK), enabling developers and sellers to process payments with Square within their consumer-facing mobile apps for the first time. With just a few lines of code, developers can easily and professionally build a fully PCI compliant, secure, and elegant Square-powered payments flow in their Android or iOS apps. With this SDK, developers leave the complexity of payments to Square and focus instead on providing a delightful buyer experience. The In-App Payments SDK is available for iOS, Android, and Flutter starting today in the United States, Canada, UK, Australia, and Japan. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190109005606/en/ (Graphic:
Vineet Anand's insight:
Square expands its ecosystem by offering in-app Payments SDK to merchants allowing it to expands across all 3 merchant categories of small, medium and large. Q3 profits and expanding ecosystem of services & subscription revenue including payroll, capital, and CRM is the apt strategy as global payments continue to surge.
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BBVA's investment arm has led a $12 million Series A funding round in checkout-free payments technology startup Grabango.
Vineet Anand's insight:
Garbango received investment for Series A funding. Good potential for cashier-less / checkout-free payments.
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Vineet Anand's insight:
Apple will receive buzz at the CES show without attending!
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Ireland's central bank has granted authorisation for Google to operate as a payments institution, a move that could see the big tech giant significantly expand its financial services offerings across the European Union.
Vineet Anand's insight:
Google Pay to offer payment issuing and acquiring services in EU under license issued by Ireland! License does not cover loans and bank accounts under PSD2. Google already has a full e-Money license in Lithuania. The competition between banks, Neo-banks and tech companies will likely reduce fragmented payments space for the consumer in near future.
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Chinese multinational conglomerate Huawei is moving to spur global adoption of its riposte to rival contactless payment services from Apple and Samsung with the first overseas roll-out of Huawei Pay in Russia.
Vineet Anand's insight:
Russia is see emergence of Huawei Pay as the 1st international market for UnionPay cards issued by local issuers.
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Curated by Vineet Anand
Payment Industry leader passionate about Fintech, Innovation in Banking, Product Management & Strategy, driving revenue growth through client management, business development and P&L focus.
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Payments Ecosystem
The Payments ecosystem is evolving at an unprecedented pace driven by mobile, cloud computing, start-up's challenging the behemoths, and new technologies. My personal collection of curated stories and blogs.
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Chip shortage will impact 3 Billion chip cards that are delivered to consumers each year! Card issues will likely extend usage at the backend systems to accommodate customers.
Great opportunity play for push to mobile payment acceptance!