Instagram, Mastercard, Square, Adyen and Curve in payments
- CPP has launched a new service called the ‘Lasu’ card which tracks an individual’s wallet. The card contains a Bluetooth tracker which fits into a wallet and syncs with a smartphone app to ensure constant monitoring. Then if a user is unable to locate their wallet and any cards in it, they can immediately cancel them via the app or online. In turn, CPP will contact multiple card providers on behalf of the customer to arrange cancellation and replacement
- Instagram has partnered with BigCommerce and Shopify to integrate ecommerce capabilities into its platform
- Mastercard and PayPal have announced an expansion of their partnership to include Canada, Europe, Latin America, the Caribbean, the Middle East and Africa. Through the partnership Mastercard and PayPal will work together to leverage new payment flow technologies and PayPal will have the opportunity to expand its presence at the point of sale by utilizing tokenization services from MasterCard
- UNCTAD research has forecast that mobile payments are expected to overtake credit cards by 2019. In 2014, 51% of payments in developed countries were made with credit cards. However, that number is expected to fall to 46% in 2019
- Square has announced it is to invest $25m in Eventbrite, the event ticketing outfit. Under the deal, Square will be Eventbrite’s payment processing partner for online and mobile transactions, covering paid events, tickets, registrations, merchandise sales and donations
- Square research has found that one in six British shoppers only use cards for payments. However, around 3m of Britain’s small businesses do not accept card payments and the survey also found that 44% of small business owners think that they don’t miss out on sales by not accepting cards
- Adyen has announced that it is expanding its partnership with Alipay, enabling retailers around the world to accept mobile payments from Chinese customers in physical stores
- Stripe has launched Stripe Elements, a set of tools that helps digital merchants build a more streamlined checkout process for their customers.
- Boston Consulting Group and SWIFT have published a white paper reviewing the new forces reshaping the international payments landscape. The ‘International Payments: Accelerating Banks’ Transformation’ document covers areas including the emergence of fintech competition, digitalisation of interfaces, client expectations and new technologies such as open APIs, and cybersecurity
- Curve has partnered with Xero to enable users to claim business spending across all their accounts and send the data to Xero’s cloud-based accounting software
- Apple is expected to launch Apple Pay Cash, its person-to-person payment service, towards the end of October 2017.
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