Payments round-up: 10 October 2016
Wasting your time is a crime. Here’s a round-up of key events in the payments space.
Absa has teamed up with South African start-up Walletdoc to let its Absa Rewards customers earn cash rewards each time they use Walletdoc to pay their monthly accounts.
Walletdoc works by sending reminders when payments are due, notifying users when bills arrive, and allows bills to be paid by credit card.
That keyboard is huge
Nets, a payments service provider in Northern Europe, and OT (Oberthur Technologies), are partnering for mobile payments in the Nordics. Nets has developed its core payment platform to support Host Card Emulation (HCE) and tokenisation. OT says it has existing partnerships with digital wallet providers for the digitisation of payment cards – and with all this Nets can offer banks a “fully integrated service”.
Nets and OT will finalise the integration later and then offer banks testing capabilities for upcoming third party digital wallet support.
Payments processor RS2 Software has teamed with Alpha Payments Cloud. The former says the partnership provides banks in Thailand with access to “multiple financial and non-financial services through a single integration”.
RS2 adds that other services include global acquiring, transaction routing and switching, AML (anti-money laundering), KYC (Know Your Customer) and fraud prevention. It says these draw on its Bankworks processing software, which lets merchants accept international, domestic and alternative payment types in more than 100 currencies.
Nordea Bank has become the first subscriber to Swift’s new Payments Data Quality (PDQ) service. As Banking Technology reported last month at Sibos, Swift unveiled PDQ, an addition to its financial crime compliance portfolio.
The solution is described as “an advanced reporting and data analytics service to help financial institutions comply with new international requirements for originator and beneficiary information in payments messages”. It will help banks monitor their compliance with the Financial Action Task Force’s Recommendation 16 for wire transfers, which was issued in 2012.
