ADN’co Payments Insight – March 2013

EBA Clearing SEPA-Compliant Credit Transfer Solution MyBank Available in Italy

• ITALY – MyBank has been launched in Italy: banking customers may now rely on their e-banking portal for their online purchases.

Initiated in 2011 by the EBA Clearing, this system inspired by the successful Dutch solution iDEAL may be a means to reduce the risk of fraud and favour the growth of the e-commerce market EU-wide.

MyBank results from a pan-European will to reassert the part of banking institutions in the e commerce industry, and should soon be launched on other markets.

Foursquare’s Card Linked Offers (CLO) with Visa and MasterCard

• WORLD – Geolocation-based network Foursquare enhances its Specials for Credit Cards programme with the help of FirstData, adding Visa and MasterCard cards to its targeted service offering.

Foursquare is the first rewards specialist proposing card-related offers in France, and one of the first in Europe. Meanwhile, on this same market, Cardlytics may enter the British market this year, too.

Simplifying M-Payment Processes to Improve their Development

• BELGIUM – BNP Paribas Fortis and Belgacom have announced their Belgian Mobile Wallet, based on in-app commerce to simplify mobile payment processes.
• UNITED STATES – the new mobile payments start-up Affirm, has been launched in the US. The company relies on social media for customer identification, and aims at bringing down the number of steps required in mobile payment contexts.

Bankinter Frees its Mobile Contactless Offer from Mobile Carriers

• SPAIN – Bankinter is getting ready to launch a mobile contactless payment solution relying on one-time virtual cards, rather than on NFC SIM cards.