What's New in Payments

Mastercard CEO: Cash is our main competitor

My competition is with cash: Ajay Banga — LiveMint — “Eighty-five percent of the world’s retail payments — person to merchant — are in cash… So who do I view as my competition? Cash. I don’t view another network, I don’t view Paytm, I don’t view Apple as competition. We are actually working with all of them. They all need our technology.”


What's New in Payments

Seamless considers sale or closure of Seqr mobile payments service

Seamless considers re-alignment for sustainable growth — Seamless — “The proposals that are up for considerations are the following: Phasing out of the B2C offering Seqr, and a renewed focus on B2B offerings, where traction is both strong and accelerating. Phasing out the B2C offering Seqr would preferably be made in the form of a sale or winding-down. To fund the growth of B2B, and exit costs of B2C, the board considers to propose the launch of a rights issue, to be completed before year-end 2017.”


What's New in Payments

Barclays CEO: Payments is the battleground of finance

Barclays CEO says bank must protect payments business from Apple, Amazon — Bloomberg — “Barclays Plc will need to defend its advantages in the payments business from encroachment by technology companies including Amazon.com Inc and Apple Inc, according to chief executive officer Jes Staley. ‘There are some tectonic shifts going on, driven by tech and the geopolitical environment… All the banks are very focused on the payments space. That may be where the battleground of finance is fought over the next 15 years.’”


What's New in Payments

Retailers ready to pay more for payments services that add value

Majority of EMEA retailers plan to increase investment in payments — ACI Worldwide — “55% of retailers and merchants in the EMEA region are planning to increase their investment into new payment capabilities in the next 18 to 24 months… 66% say they are willing to pay more for a broader range of payment services if they add value to their business. 89% say they would expect increased operational efficiency and 88% enhanced customer experience from their investment.”



What's New in Payments

Join NFC World for a free webinar to learn how banks can deliver differentiated mobile strategies

NFC World will host a free webinar on Thursday 13 October exploring how financial institutions can take control of their own mobile payment strategies to move beyond standard handset maker and card network schemes and provide a differentiated offering to retain customers, attract new business and add fresh revenue streams... More




Apple doesn’t want to be a bank, says CEO

“Nobody wants to become a bank any more and we don’t want to become a bank,” Apple CEO Tim Cook has told the University Philosophical Society at Trinity College, Dublin during a visit this week, Ireland’s Independent newspaper reports... More









What's New in Payments

Seqr promotes mobile payments with cashback offers to users

Seamless CEO Peter Fredell

Sweden-based mobile payments provider Seamless is offering users of its Seqr mobile payments service up to 3% cashback on their purchases, “valid on all purchases and effective on top of any other loyalty program or discount.” The offer is designed to persuade more consumers to adopt mobile payments, CEO Peter Fredell has told NFC World, and is financed via a mixture of revenue streams. More