FOR 49 EARS, THE LEADIN PUBLICATION COVERIN ...Conferences & Seminars 3rd Annual International Payment Forum 2019: November 21-22, 2019. The Austria Trend Hotel Savoyen, Vienna, Austria

7 Payment Shipments by Manufacturer and Type of Card

8 U.S. Credit and Debit Card Purchase Volume and Transactions

2 – 3 Fast Facts 9 U.S. Credit Cards Projected

10 U.S. Debit Cards Projected

INSIDE CHARTS

EMVCo Secure Remote Commerce CheckoutAmerican Express, Discover, Mastercard, and Visa have launched a one-click ecommerce checkout service based on the latest EMV-compliant Secure Remote Commerce (SRC) specifications for

Fintech-as-a-Service PlatformRapyd believes it is first to market with a comprehensive one-stop shop that start-ups and legacy corporations can use to gain financial services, regulatory compliance, payment gateway

Card Manufacturer Shipments—Payment Cards 2018There were 6.30 billion credit, debit, and prepaid payment cards shipped worldwide in 2018 last year, a decrease of 2.9% from 2017. Those cards included: Visa, Mastercard, UnionPay,

Investments & Acquisitions—September 2019There were 70 acquisitions and investment transactions that occurred in 18 countries in September 2019.Prior issues: 1161, 1159, 1157, 1155, 1153, 1151, 1149, 1147, 1145

Fighting EMV Counterfeit FraudStart-up CardLatch is creating technology it believes will effectively eliminate losses to fraud from counterfeit EMV-compliant cards. Currently, there are more than 9 billion EMV-compliant chip

Other508

Prepaid 352

EFT759

Amex1,103

Mastercard2,271

Visa5,093

© 2019 The Nilson Report

Payment Cards in the U.S.PURCHASE

VOLUME ($BIL.)IN 2023

Off-the-Shelf Microcontroller for POS DevicesSecure microcontrollers embedded in POS terminals are black box hardware that hold a library of cryptographic keys used for PIN entry and adjusting security parameters of the terminals as well as

Optical-Based, NFC-Like Proximity PaymentsMetaSepia has created technology that facilitates secure information exchange between smartphones. The start-up’s Screen Beam software combines the benefits of secure NFC bidirectional

9-11 U.S. Credit and Debit Card Purchase Volume Market Shares, U.S. Credit and Debit Cards—Transactions, Cards, Cardholders, Accounts, and Outstandings

> see p. 12

> see p. 4

> see p. 6

> see p. 6

> see p. 5

> see p. 12

> see p. 8

All U.S. Payment Cards Projected

General purpose and private label consumer and commercial credit, debit, and prepaid cards combined to generate $7.266 trillion in purchase volume for goods and services in 2018, an increase of 9.8% from 2017. Credit card purchase volume accounted for 54.17% of that total, down from 54.37% in 2017. Purchase volume on debit cards, which includes prepaid, accounted for the other 45.83%, up slightly from 45.63% the previous year. Purchase volume is projected to reach $10.086 trillion in 2023, with credit cards projected to account for 54.13%.

The top purchase volume market share in 2018, when comparing all credit and debit products, was held by Visa credit

> see p. 5

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OCTOBER 2019 / ISSUE 1163

© 2019 HSN Consultants, Inc. THE NILSON REPORT

FOR 49 YEARS, THE LEADING PUBLICATION COVERING PAYMENT SYSTEMS WORLDWIDE

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Conferences & Seminars

3rd Annual International Payment Forum 2019: November 21-22, 2019. The Austria Trend Hotel Savoyen, Vienna, Austria. Estimated attendance: 150. Cost for the two-day conference is $1,090 (€998). Subscribers to The Nilson Report will receive a 20% discount. (Use code ICTNIL2019.) Contact Mike Lind at ICT Solutions, 36 (70) 296-0374, [email protected]. Register at https://ict-solutions-hu.com/registration-page/.

TrusTech 2019: November 26-28, 2019. The Palais des Festivals de Cannes, French Riviera, Cannes, France. Estimated attendance: 8,000+. Cost for the three-day conference is FREE, including attendance to the conference and exhibition. Contact Stephanie Dryander at Comexposium, 33 (1) 7677-1280, [email protected]. Register at www.trustech-event.com.

INCOMM HEALTHCARE’S multipurse wellness card lets health plans offer multiple supplemental benefit and well-ness incentive programs through a single card that allocates program funds for specified products, such as over-the-counter medications, health and wellness items, and food at the purse level. The card can be used at over 60,000 retail and online locations connected to the OTC Network. Roderick Kersch is VP of Sales at InComm Healthcare, [email protected], www.incomm.com.

VARO MONEY provides a mobile app that gives customers no-cost bank accounts, high-interest savings accounts, and features to help save and manage money. The Bancorp Bank provides the bank accounts. Varo provides customers with surcharge-free cash withdrawals at 55,000 Allpoint ATMs worldwide. Colin Walsh is CEO at Varo Money, colin@ varomoney.com, www.varomoney.com.

EVOLVE BANK & TRUST, which focuses on providing payment processing, ACH, debit/credit sponsorship, card issuance, and other services to fintechs in the U.S., will use i2c’s technology to offer a full suite of customizable credit, debit, prepaid, and DDA products. Amir Wain is CEO at i2c, [email protected], www.i2cinc.com. B. Scot Lenoir is Chairman at Evolve, [email protected], www.getevolved.com.

KABBAGE, provider of loans to small businesses through an online lending platform, now offers its customers Kabbage Payments—payment processing that creates a unique URL for businesses and sends requests through texts, emails, or the web to collect payments from cards. The custom pay link eliminates the need to manually create new accounts, open new payment orders, or duplicate work for recurring invoices. Rob Frohwein is CEO, [email protected], www.kabbage.com.

CPI CARD GROUP has introduced its Second Wave access card products for transit, hospitality, entertainment, and other markets. Second Wave cards feature a core made with recovered ocean-bound plastic. Jack Jania is VP, [email protected], www.cpicardgroup.com.

THE PAYMENTS RISK & FRAUD CONSORTIUM is a newly formed coalition of payment companies whose aims include increasing the efficiency of transaction processing and enabling effective fraud fighting while balancing the customer experience. Founding members include Advantage Payment Services, Enacomm, Central Payments, FSV Payment Systems, and Payment Solutions Consultants. For additional information: [email protected].

BARCLAYS U.S. CONSUMER BANK, which ranks 9th among credit card issuers in the U.S., will test FreedomPay’s DecisionPoint Network (DPN) marketing platform to promote the Eagles Extra Points Credit Card to Philadelphia Eagles fans at the point of sale. The pilot program is running during the 2019 Philadelphia Eagles season. DPN functions during the checkout process, offering ad exposure of 10 to 15 seconds. Nate Ware is VP of Digital Development at Freedom-Pay, [email protected], www.freedompay.com. Michael Bolmer is Senior Director, Travel & Affinity Partnerships at Barclays, [email protected], www.barclaysus.com.

BREAD’S payment and decisioning platform offers multiple payment options tailored to a retailer’s brand and shoppers. SplitPay lets consumers split smaller purchase amounts into four equal interest-free payments, paid every two weeks. Bread installments lets customers pay for larger transactions over a longer period of time. The company’s Bread Edge payment personalization engine is designed to offer the right payment option at the right time. Josh Abramowitz is CEO, [email protected], www.getbread.com.

U.S. BANK has launched eBill Service, an electronic bill presentment and payment service. For payers, it provides online and mobile to text, digital assistant, and intelligent voice response payment options. For billers, eBill Service streamlines operations and reduces billing costs. Alacriti, a fintech company specializing in payments, provides the EBPP technology and digital disbursements. Manish Gurukula is CEO at Alacriti, [email protected], www.alacriti.com. Rich Erario is EVP and Head of Global Treasury Management at U.S. Bank, [email protected], www.usbank.com.

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DISCOVER has launched The Discover Store with Amazon to offer its cardmembers exclusive discounts throughout the holiday season. A dedicated digital storefront on Amazon will offer Discover cardholders discounts and deals on a selection of products from Amazon Launchpad. Discover will sponsor holiday pop-ins offering the hottest gifts. From now through December, Discover it and Discover More cardmembers can earn 5% Cashback Bonus on up to $1,500 in purchases at Amazon stores, Amazon.com, and more when they activate. Szabolcs Paldy is SVP, Marketing at Discover, [email protected], www.discover.com.

RETURNLY is a provider to online merchants of a service that lets consumers pay with the credit tied to merchandise not yet returned. The company’s newest service is International Returns, which lets global shoppers return items online from anywhere in the world. Eduardo Vilar is CEO, eduardo@ returnly.com, www.returnly.com.

FORTER, a top provider of protection against ecommerce fraud, has released the seventh edition of its Fraud Attack Index. The company’s research indicates that fraud is rapidly evolving beyond the point of payment to loyalty account programs and abuse of return policies. Criminals are diversifying into softer currencies that are not primarily financial and are having significantly more success in account takeover attacks. Michael Reitblat is CEO, [email protected], www.forter.com.

PAYSAFE GROUP, a payment processor, has rolled out Mobile Pay in the U.S. featuring iOS, Android, and Amazon apps developed with Apriva and card reader hardware from AnywhereCommerce. Mobile Pay has already been de-ployed by nearly 17,000 small and midsized merchants that use a smartphone or tablet. O.B. Rawls is CEO, Global Payment Processing at Paysafe, [email protected], www.paysafe.com.

UPGRADE, a consumer credit platform that offers personal loans, credit monitoring, and education tools, has launched Upgrade Card, a Visa brand credit card issued by Sutton Bank. Card charges are combined into installment plans payable over 12 to 60 months. Cross River Bank, a New Jersey State Chartered Commercial Bank, is the issuer of the personal credit lines available through Upgrade Card. Gilles Gade is CEO at Cross River, ggade@ crossriverbank.com, www.crossriverbank.com. Renaud Laplanche is CEO at Upgrade, [email protected], www.upgrade.com.

ALIASWIRE, a bill payment company, and OV Loop, a messaging payment platform, will work together to enable bill payments on both platforms. OV will integrate Aliaswire’s bill presentment and credit/debit/ACH processing capabilities into its OV Conversational Commerce platform. Aliaswire will incorporate OV’s Concierge Service into its EIPP/EBPP platform. Will Graylin is CEO at OV Loop, [email protected], www.ovloop.com. Scott Goldthwaite is President at Aliaswire, [email protected], www.aliaswire.com.

MAVERICK PAYMENTS is a full-service payment processor offering merchants in the U.S. credit and debit card as well as ACH acceptance for in-person and online payments. It uses Avidia Bank to offer merchants instant settlement deposits from card sales. Cliff Thompson is VP of Avidia Bank, [email protected], www.avidiabank.com. Ben Griefer is COO at Maverick, [email protected], www.maverickpayments.com.

HYPERPAY has become the first Middle East-based payment service provider to enable online merchants to accept UnionPay cards in the MENA region. Muhannad Ebwini is CEO at HyperPay, [email protected], www.hyperpay.com. Han Wang is General Manager at UnionPay Intl. Middle East, [email protected], www.unionpayintl.com.

SPLITIT, provider of monthly installment payment plans for consumers, has signed an agreement to make its Buy Now Pay Later program available to Shopify’s network of more than 800,000 merchants in 20 countries. Buy Now Pay Later will also be available on the point-of-sale finance platform of Divido, which operates a network of more than 1,000 merchants, banks, and other partners. Brad Paterson is CEO at Splitit, [email protected], www.splitit.com. Christer Holloman is CEO at Divido, christer.holloman@ divido.com, www.divido.com.

DCR STRATEGIES/TRUCASH, provider of incentive and reward programs, loyalty programs, disbursement systems, and marketing services to more than 500 brands worldwide, will use i2c’s global card processing technology and infrastructure, including multicurrency and multilingual options. DCR customers manage more than a billion transactions annually tied to seven million cardholders. Diana Fletcher is President at DCR, diana.fletcher@ trucash.com, www.trucash.com. Peg Johnson is Global Head of Client Experience at i2c, [email protected], www.i2cinc.com.

WINDCAVE (formerly Payment Express) has become an acquirer in New Zealand for all cards that operate on the Discover Global Network. Joel Martin is Sales Director at Windcave, [email protected], www.windcave.com. Amy Parsons is SVP of Global Acceptance at Discover, amyparsons@ discover.com, www.discovernetwork.com.

SNAPPAY, a Canada-based payment gateway provider that lets merchants in the U.S. and Canada accept Alipay and WeChat Pay QR code-based payments, will offer facial recognition as a capability in its payment platform. Consumers could pay with a qualified digital photo during the checkout process. SnapPay will target grocery store and QSR merchants for facial recognition. Spencer Xu is CEO at SnapPay, [email protected], www.snappay.ca.

OPENWAY has launched WAY4 Acquiring Start, off-the-shelf software for merchant acquiring. Start-ups, banks, processors, PSPs, and retailers can launch in-store and online acquiring businesses from the cloud or on-premises. Dmitry Yatskaer is CTO, [email protected], www.openwaygroup.com.

WIRECARD is giving online merchants the ability to offer installment pay-ment options to consumers. Kilian Thalhammer is VP Product Management Payment & Risk, [email protected], www.wirecard.com.

BLIK, a mobile payment service based in Poland, will provide contactless functionality from within a mobile banking app via integration with Master-card’s tokenization platform, Mastercard Digital Enablement Service. Blik is available through most Polish banks. Payments can be initiated anywhere in the world. Dariusz Mazurkiewicz is President at Polski Standard Platnosci, the Operator of Blik, [email protected], www.blikmobile.pl. Bartosz Ciolkowski is Manager for Poland, Czech and Slova-kia at Mastercard, [email protected], www.mastercard.com.

© HSN Consultants, Inc. 2019 THE NILSON REPORT 2OCTOBER 2019 / ISSUE 1163 / THE NILSON REPORT© 2019 HSN Consultants, Inc. THE NILSON REPORT 3OCTOBER 2019 / ISSUE 1163 / THE NILSON REPORT

Company Buyer/Investor Amount (mil.)

Country

B2B PAYMENTS

DiviPay Series A 1 $1.6 Australia

Drum seed funding 2 $11.0 U.S.

Form3 Intl Payments grant 3 $6.1 U.K.

Fundbox Series C 4 $176.0 U.S.

OKCredit Series B 5 $67.0 India

Pento seed funding 6 $2.8 Denmark

Slyp seed funding 7 $2.7 Australia

Sonovate debt/equity funding 8 $141.8 U.K.

Spendesk Series B 9 $38.9 U.K.

Teampay Series A 10 $12.0 U.S.

Tipalti Series D 11 $76.0 U.S.

Upfl ow seed funding 12 $2.7 France

CARD MANUFACTURING

Placard HID Global 13 * Australia

CARD PROCESSING

Tutuka Apis Partners 13 * U.A.E.

CREDIT CARDS

Curve crowdcube $7.2 U.K.

FPL Technologies seed funding 14 $4.5 India

Klar seed/debt facility 15 $57.5 Mexico

Petal debt facility 16 $300.0 U.S.

Security Bankcard Center TCM Bank17 $21.0 U.S.

DEBIT CARDS

Greenlight Financial Series B 18 $54.0 U.S.

LENDING

AmzLenders SellersFunding 13 * U.S.

Ant Financial Alibaba 19 * China

Capcito unknown venture round 20 $7.8 Sweden

FairMoney Series A 21 $11.0 France

ForwardLine Financial unknown venture round 22 $20.0 U.S.

Konfi o credit facility 23 $100.0 Mexico

Kreditech unknown venture round 24 $22.0 Germany

LexinFintech private placement 25 $300.0 China

minu seed funding 26 $6.5 Mexico

Oportun IPO 27 $94.0 U.S.

PayBright goeasy 28 $25.9 Canada

SuperAtom unknown venture round 29 $24.0 Indonesia

Terafunding Series B 30 $18.0 South Korea

Transaction Capital Public Investment Corp. 31 * South Africa

Valendo creditshelf 13 * Germany

Company Buyer/Investor Amount (mil.)

Country

LOYALTY/INCENTIVES

Splio unknown venture round 32 $10.1 France

Zestful seed funding 33 $5.0 U.S.

MERCHANT PROCESSING/ACQUIRING

GoPay PayPal 34 * China

PayMongo seed funding 35 $2.6 Philippines

Recurly Series C 36 $19.5 U.S.

Secure Retail NVM 13 * U.K.

Stripe Series F 37 $250.0 U.S.

TouchBistro Series E 38 $120.3 U.S.

MOBILE PAYMENTS

ePassi Payments private equity round 39 $46.2 Finland

MishiPay Series A 40 $4.0 U.K.

PERSONAL FINANCE

Digit Series C 41 $27.5 U.S.

Even Financial corporate round 42 $25.0 U.S.

Happy Money Series D 43 $70.0 U.S.

Joonko seed funding 44 $11.2 Germany

Moneyfarm Poste Italiane 28 $46.4 U.K./Italy

Pluang Series A 45 $3.0 Indonesia

SECURITY

Alloy Series A 46 $12.0 U.S.

BigID Series C 46 $50.0 U.S.

HydrantID HID Global 13 * U.S.

Shape Security Series F 47 $51.0 U.S.

Trulioo Series C 48 $45.7 Canada

Trustpair Series A 49 $4.5 France

SOFTWARE

Delego Software EVO Payments 13 * U.S.

Deposit Solutions Deutsche Bank 50 $55.8 Germany

Fidel Series A 51 $18.0 U.K.

IceKredit pre-Series C 52 $47.0 China

Kasisto Series B 53 $15.0 U.S.

Mainstreet Computers Convenient Payments 13 * U.S.

Mercury Series A 54 $20.0 U.S.

Numerated Series B 55 $15.0 U.S.

Orone France Tessi 13 * U.S.

Plaid Series C 56 $250.0 U.S.

Rapyd Series C 35 $100.0 U.K.

Royal Western United Merchant Serv. 13 * U.S.

Talech U.S. Bank 13 * U.S.

*Terms not disclosed. 1 Led by ANZ. 2 Including American Express. 3 From Banking & Competition Remedies fund. 4 Including Synchrony. 5 Led by Lightspeed and Tiger Global. 6 Led by Point Nine Capital. 7 Including ANZ and NAB. 8 Investors not disclosed. 9 Led by Index Ventures. 10 Led by Tribe Capital. 11 Led by Zeev Ventures. 12 Including Kima Ventures. 13 Acquisition. 14 Including Matrix Partners. 15 Led by Quona Capital. 16 From Jeff ries. 17 Purchased outstandings. 18 Including JPMorgan Chase. 19 Purchased 33% stake. 20 Including SEB Venture Capital. 21 Led by Flourish Venture. 22 From the Vistria Group. 23 From Goldman Sachs. 24 Led by Runa Capital. 25 With PAG. 26 Including Bill Gates and Mark Zuckerberg. 27 On Nasdaq (OPRT). 28 Purchased minority stake. 29 Led

by Gobi Partners. 30 Including KB Investment. 31 Bought minority stake. 32 Led by Ring Capital. 33 Led by Thrive Capital. 34 Acquired 70% stake. 35 Including Stripe. 36 Led by F-Prime Capital. 37 Led by General Catalyst. 38 Including Barclays Bank. 39 Including First Fellow Partners. 40 Including American Express. 41 Led by General Catalyst. 42 Including Citi. 43 Led by CMFG Ventures. 44 Including Ping An and Raisin. 45 Led by Go-Ventures. 46 Led by Bessemer Venture Partners. 47 Led by C5 Capital. 48 Including Citi. 49 Including Alexco. 50 Purchased 5% stake. 51 Including Nyca Partners. 52 Led by Guohe Capital. 53 Led by Rho Capital Partners. 54 Led by Charles River Ventures. 55 From Patriot Financial. 56 Including Visa and Mastercard. © 2019 The Nilson Report

Investments & Acquisitions September 2019



implementing the functionality for PCI and EMV compliance. Because they are specialty pieces of hardware, as compared to the low battery consumption microprocessors commonly found in consumer appliances, they add cost and complexity to POS terminals.

POS terminal manufacturer YouTransactor has placed cryptographic keys and PCI/

EMV compliance functionality in software on an off-the-shelf (STM32 microcontroller) chip from STMicroelectronics. YouTransactor says it reduces a

POS terminal’s cost by $6 per device.

YouTransactor is making the new chip available to other POS terminal manufacturers and manufacturers of printers, vending machines, and PC-based point-of-sale systems. Those vendors

will benefit from precertifications for PCI PTS 5ix and EMV L1/L2 contact and contactless, and easier

integration compared to a secure microcontroller.

YouTransactor has shipped 1.4 million terminals to clients in 22 countries. The majority

of those devices were shipped in the last two years. It manufactures its terminals, including model uCube shown here, in France, Malaysia, and Brazil. It is

half the size of a smartphone and can

handle contact, contactless, and QR code-based payments.

YouTransactor will use the new chip in 1 million devices it will manufacture in Brazil over the next 12 months. Jean-Pierre Gressin is Chief

Sales & Marketing Officer at

YouTransactor in Paris, France,

[email protected],

www.youtransactor.com.

74 m

m

74 mm

file sharing with the ubiquity of QR codes that leverage optical scanning. Screen Beam pairs the display screens and cameras of two mobile devices.

Light-emissive visual codes on one phone scan the other phone. Those visual codes are dynamic. Data

transfer is executed when they flash and shimmer in full color at high speed (60 to 100

frames per second). Screen Beam’s optical exchange is highly directional. In comparison, radio

frequency-based NFC file exchanges radiate spherical beams.Screen Beam software can be deployed on any

smartphone using any operating system, including older models with single-directional cameras. Data exchange between smartphones occurs when the devices are held for 1 to 5 seconds between 4 and 40

centimeters apart. The exchange occurs up to 15 times faster than with QR code scans between phones and with significantly greater data density. In addition, QR code-based exchanges cannot be bidirectional. Because Screen Beam uses emissive beacon elements, not the contrast elements found in QR codes, it can operate in a broader range of lighting conditions.

Screen Beam’s inventor was one of the technologists behind mobile payment terminal ViVOtech. In discussions with possible investors, MetaSepia identified several offline use cases for Screen Beam that require nonrepudiation of a transaction, including person-to-person wallet payments involving cryptocurrencies, payments on airplanes, instant issuance of an ereceipt, and payments made with loyalty points.

Currently, Screen Beam is a functioning prototype. The aim is to develop it into optical functionality communications software at NFC speed. MetaSepia is looking for partners—investment, technology, licensing, or intellectual property acquisition.Kerry Brown is Chief Technology Officer at MetaSepia

in Palo Alto, California, [email protected],

www.metasepia.com.

...reduces a POS terminal’s cost by $6 per device.

Off-the-Shelf Microcontroller for POS Devices from page 1...

Optical-Based, NFC-Like Proximity Payments from page 1...

© 2019 HSN Consultants, Inc. THE NILSON REPORT 5OCTOBER 2019 / ISSUE 1163 / THE NILSON REPORT

http://www.youtransactor.com

http://www.metasepia.com

American Express, Diners Club, Discover, JCB, and Maestro global general purpose credit, debit, and prepaid cards; ATM and local-market-only general purpose credit, debit, and prepaid cards; and retail, oil/fleet, medical, airline, and private label credit and debit cards. Magstripe-only and chip cards are included here.

The six largest manufacturers shipped a combined 3.21 billion payment cards last year, down 3.3% from

2017. Among the top six, only G+D Mobile Security and Eastcompeace had year-over-year increases in shipments.

Thales (formerly Gemalto), Idemia, G+D, and Toppan Printing included all cards shipped to their bank customers in the Visa and Mastercard category, including other high-security cards and some ATM-only or local-market-only debit cards.

Increases in payment cards shipped in 2018 over 2017 were reported by: TSYS, INCM, Placard, TGS Card Solutions, Beautiful Card, Inkript, Feitian Technologies, XH Smart Tech, MCT Cards & Technology, Tag Systems, Taiwan Name Plate, Eastcompeace, MK Smart, G+D, and FutureCard.

and processing, and more than 20 other services—all delivered through a single API. New clients onboard themselves through the same API. Integration takes one day.

The typical Rapyd client uses three services and does so in five countries. The most widely used services are payment acceptance, payouts, and ewallets.

Rapyd has focused on developing local and alternative payment acceptance connections worldwide as well as account-to-account bank payments and ewallets. It can also handle cash payments globally.

Rapyd can complete a payment to recipients in 105 countries. It performs AML, KYC, and KYB services for marketplace

sellers, merchants, on-demand platforms, and technology providers.

Rapyd, a member of Visa and Mastercard, issues cards in 12 countries and has partnerships to do so in 8 other countries. It has plans to issue Visa or Mastercard cards in 50 countries by the end of 2020.

The Rapyd mobile wallet is a bank account replacement. It does everything except make investment

decisions and is used mostly by delivery, ride sharing, and other clients in the gig economy. It can be tied to virtual and physical card accounts. Ewallets are the fastest growing part of Rapyd’s

business. New clients include companies in Latin America and Asia-Pacific.

The company received $100 million in Series C funding last month. It will use part of that money to add more services to its platform including more local payment methods. Some of the proceeds will go toward expanding the company’s card issuing business.

Rapyd is looking for card issuer and merchant acquirer partnerships worldwide. Arik Shtilman is CEO at Rapyd in

Tel Aviv, Israel, [email protected],

www.rapyd.net.

Rapyd plans to issue Mastercard or Visa cards in 50 countries.

Only G+D and Eastcompeace had YOY increases in shipments.

+13.0%+13.0%

Top Manufacturers of Payment CardsRanked by Shipments 2018 vs. 2017Top Manufacturers of Payment CardsRanked by Shipments 2018 vs. 2017

Thales 927.0 955.0 –2.9%

Idemia 800.0 858.0 –6.8%

G+D 567.0 547.2 3.6%

Perfect 488.6 541.0 –9.7%

Goldpac 264.0 264.6 –0.2%

Eastcompeace 165.2 156.3 5.7%

Other 3,090.6 3,168.5 –2.5%

Thales 927.0 955.0 –2.9%

Idemia 800.0 858.0 –6.8%

G+D 567.0 547.2 3.6%

Perfect 488.6 541.0 –9.7%

Goldpac 264.0 264.6 –0.2%

Eastcompeace 165.2 156.3 5.7%

Other 3,090.6 3,168.5 –2.5%

2013

2018

61

13

9

84

3

949

13

10

15

Brand 2018 (Mil.) 2017 (Mil.) Change

MarketShares2018

©2019The Nilson Report

Card Manufacturer Shipments—Payment Cards 2018 from page 1...

Fintech-as-a-Service Platformfrom page 1...


http://www.rapyd.net


Visa & Mastercard CardsRank Manufacturer/Headquarters mil.

1 Thales 1 927.0

2 Idemia 1 800.0

3 G+D 1 567.0

4 Perfect Plastic 332.3

5 CPI Card Group 126.8

6 Valid* 82.3

7 TSYS 74.8

8 MCT Cards & Tech. 51.8

9 Toppan Printing 1 37.1

10 Goldpac Group 35.0

11 Plastkart 34.0

12 FutureCard 34.0

13 Alioth 33.3

14 Rosan Finance 33.2

15 AustriaCard 31.3

16 DZ Card Group 31.1

17 NovaCard 28.1

18 ABCorp 27.9

19 Tag Systems 26.1

20 Exceet Card 22.0

21 Masria Card 15.9

22 XH Smart Tech 14.5

23 Adera Global 13.7

24 Thames Technology 12.4

25 MK Smart 11.5

26 Kona I 11.4

27 Placard 9.9

28 Inkript 9.7

29 ICK 9.0

30 Taiwan Name Plate 7.9

31 Hogier Gartner 7.1

32 FoongTone Tech. 5.6

33 Hengbao 4.5

34 TGS Card Solutions 4.4

35 Watchdata 2.6

36 M-Tech Innovations 2.5

37 Toppan Forms 1.9

38 Eastcompeace 1.4

39 KL Hi-Tech Secure 1.240 Beautiful Card 1.1

41 INCM 0.9

42 Workz Media 0.2

1Includes all cards for bank clients. *Estimate.

UnionPay Cards

Rank Manufacturer/Headquarters mil.


2 Eastcompeace 163.7

3 Hengbao 135.2

4 Adera Global 30.4

5 Takcere 24.0


7 Watchdata 12.5

8 ICK 1.5

9 Toppan Forms 1.1

10 Kona I 1.0

11 Alioth 0.7

12 FutureCard 0.6


14 Feitian Technologies 0.2

15 NovaCard 0.2

Other High-Security Cards




3 Takcere 28.1

4 Adera Global 24.4

5 KL Hi-Tech Secure 14.1

6 PGP Group 12.7

7 NovaCard 11.2

8 Alioth 10.9



11 Placard 7.2

12 AustriaCard 5.3

13 FutureCard 4.8

14 TGS Card Solutions 3.6

15 Kona I 3.5



18 Inkript Cards 1.9


20 Beautiful Card 1.4

21 Tag Systems 0.3


23 TSYS 0.1

24 ICK <0.1

25 Toppan Forms <0.1

26 Eastcompeace <0.1Includes American Express, Diners Club, Discover, JCB, Maestro, RuPay, otherdomestic general purpose, ATM, and PIN debit cards.

Other Payment Cards



2 Takcere 52.1




6 Toppan Printing 12.5


8 FutureCard 6.7

9 Feitian Technologies 6.2

10 PGP Group 5.6

11 ICK 5.5


13 Asia Credit Card 5.0

14 AustriaCard 4.4

15 TSYS 2.4

16 Tag Systems 2.4

17 Alioth 2.2

18 Exceet Card 2.2



21 Masria Card 1.5

22 M-Tech Innovations 1.0


24 Inkript Cards 0.2

25 Workz Media <0.1

26 NovaCard <0.1

27 Hogier Gartner <0.1

28 Kona I <0.1



1 Thales (was Gemalto) Netherlands 927.0

2 Idemia France 800.0

3 G+D Mobile Security Germany 567.0

4 Perfect Plastic U.S. 488.6

5 Goldpac Group China, Hong Kong 264.6

6 Eastcompeace China 165.2

7 CPI Card Group U.S. 150.8

8 Hengbao China 139.7

9 MCT Cards & Tech. India 122.7

10 Takcere China 104.2

11 Valid Brazil, U.S.* 82.3

12 TSYS U.S. 77.3

13 XH Smart Tech China 69.9

14 Adera (was Jing King) China/Sing. 68.5

15 Toppan Printing Japan 49.6

16 Alioth Russia 47.1


17 FutureCard United Arab Emirates 46.1

18 DZ Card Group Thailand 43.6

19 AustriaCard Austria 41.1

20 NovaCard Russia 39.5

21 Rosan Finance Russia 38.7

22 Plastkart Turkey 34.0

23 Tag Systems Andorra 28.8

24 ABCorp U.S. 27.9

25 Exceet Card Germany 24.2

26 PGP Group Hong Kong 18.3

27 Masria Card Egypt 17.4

28 Placard Australia 17.1

29 ICK South Korea 16.0

30 Kona I South Korea 15.9

31 KL Hi-Tech Secure Print India 15.3

32 Watchdata China/Singapore 15.1


33 Thames Technology U.K. 12.4

34 Inkript Cards Lebanon 11.7

35 MK Smart Vietnam 11.5

36 Taiwan Name Plate Taiwan 9.8

37 FoongTone Tech. Taiwan 8.9

38 TGS Card Solutions Mexico 7.9

39 Hogier Gartner Colombia 7.1

40 Feitian Technologies China 6.4

41 Asia Credit Card (ACC) China 5.0

42 M-Tech Innovations India 3.5

43 Toppan Forms Hong Kong 3.0

44 Beautiful Card Taiwan 2.4

45 INCM Portugal 0.9

46 Workz Media Ireland 0.3

*Estimate. © 2019 The Nilson Report

Total Payment Card Shipments by Manufacturer 2018

Payment Card Shipments by Type of Card 2018


cards with 26.92%. Visa debit cards ranked second with 23.77%, followed by Mastercard credit cards with 11.16%, American Express credit cards at 10.62%, and Mastercard debit cards at 9.98%. All other cards combined for 17.54%.

Visa credit cards are projected to hold a 26.10% market share of purchase volume by 2023, with Visa debit cards in second place at 24.40%, followed by Mastercard credit cards with 12.33%, American Express credit cards with 10.93%, and Mastercard debit cards with 10.19%. All other cards combined are projected to account for the other 16.05%.

Consumer and commercial general purpose and private label credit, debit, and prepaid purchase transactions initiated by cards issued in the U.S. reached 128.70 billion in 2018, up 8.6% over the prior year.

Debit card purchase transactions held a 66.29% market share, with credit cards generating the remaining 33.71%. Purchase transactions are projected to reach 172.20 billion in 2023, with debit cards holding a 66.43% share and credit cards accounting for the other 33.57%.

Visa debit cards generated more purchase transactions than any other brand or product in 2018, accounting for a 34.50% market share. They are projected to remain on top with a 34.49% share in 2023.

Visa credit cards held a 18.56% share of purchase transactions in 2018. That share is expected to decline to 17.75% in 2023. Mastercard debit cards, which held a 14.24% share in 2018, are expected to hold a 14.52% share in 2023.

Credit cards with the Mastercard brand held a 7.05% share in 2018. That is projected to grow to a 7.69% share in 2023.

Debit card purchase transactions settled through the EFT networks

1Private label prepaid. © 2019 The Nilson Report

Chg. ‘232013 (mil.) Share 2018 (mil.) Share 2023 (mil.) Share vs. ‘18

CREDIT CARDS 28,258.1 31.20% 43,379.0 33.71% 57,812.1 33.57% 33.3%

Visa 12,800.0 14.13% 23,885.0 18.56% 30,573.3 17.75% 28.0%

Mastercard 6,353.3 7.01% 9,073.0 7.05% 13,247.5 7.69% 46.0%

American Express 4,459.7 4.92% 5,396.9 4.19% 7,645.5 4.44% 41.7%

Discover 2,137.2 2.36% 2,469.1 1.92% 3,499.4 2.03% 41.7%

Store 1,624.8 1.79% 1,737.0 1.35% 1,991.8 1.16% 14.7%

Oil Co. 833.5 0.92% 775.2 0.60% 807.4 0.47% 4.2%

The Rest 49.6 0.05% 42.9 0.03% 47.1 0.03% 9.8%

DEBIT CARDS 62,324.3 68.80% 85,316.2 66.29% 114,389.9 66.43% 34.1%

Visa 31,771.0 35.07% 44,397.0 34.50% 59,392.1 34.49% 33.8%

Mastercard 12,504.4 13.80% 18,320.0 14.24% 24,997.5 14.52% 36.4%

EFT networks 11,789.5 13.02% 15,077.3 11.72% 20,943.6 12.16% 38.9%

Prepaid 1 6,115.7 6.75% 7,270.2 5.65% 8,676.5 5.04% 19.3%

ACH 143.7 0.16% 251.7 0.20% 380.2 0.22% 51.1%

TOTAL 90,582.4 100.00% 128,695.2 100.00% 172,201.9 100.0% 33.8%

Purchase Transactions


Chg. ‘232013 (bil.) Share 2018 (bil.) Share 2023 (bil.) Share vs. ‘18

CREDIT CARDS $ 2,648.23 52.87% $ 3,935.75 54.17% $ 5,459.65 54.13% 38.7%

Visa $ 1,078.55 21.53% $ 1,956.11 26.92% $ 2,632.44 26.10% 34.6%

Mastercard $ 560.12 11.18% $ 810.90 11.16% $ 1,243.90 12.33% 53.4%

American Express $ 633.28 12.64% $ 771.75 10.62% $ 1,102.75 10.93% 42.9%

Discover $ 127.11 2.54% $ 139.04 1.91% $ 176.95 1.75% 27.3%

Store $ 168.38 3.36% $ 181.81 2.50% $ 212.19 2.10% 16.7%

Oil Co. $ 62.68 1.25% $ 55.94 0.77% $ 63.63 0.63% 13.8%

The Rest $ 18.11 0.36% $ 20.20 0.28% $ 27.79 0.28% 37.6%

DEBIT CARDS $ 2,360.38 47.13% $ 3,329.97 45.83% $ 4,626.45 45.87% 38.9%

Visa $ 1,188.00 23.72% $ 1,726.90 23.77% $ 2,460.69 24.40% 42.5%

Mastercard $ 490.70 9.80% $ 725.45 9.98% $ 1,027.59 10.19% 41.6%

EFT networks $ 453.09 9.05% $ 579.03 7.97% $ 758.84 7.52% 31.1%

Prepaid 1 $ 220.15 4.40% $ 281.29 3.87% $ 352.20 3.49% 25.2%

ACH $ 8.44 0.17% $ 17.31 0.24% $ 27.12 0.27% 56.7%

TOTAL $ 5,008.62 100.00% $ 7,265.73 100.00% $ 10,086.10 100.00% 38.8%

Purchase Volume

All U.S. Payment Cards Projected from page 1...



held a 11.72% share in 2018. Nearly all of those transactions were PIN-based. By 2023, EFT networks are projected to hold a 12.16% share. Mastercard and Visa (Interlink) PIN transactions are counted with Mastercard and Visa debit figures.

There were 6.96 billion credit, debit, and prepaid cards in circulation in the United States at the end of 2018, up 3.9% over 2017. Payment cards in circulation are projected to reach 8.02 billion by the end of 2023.

At December 31, 2018, there were 1.12 billion general purpose and private label consumer

and commercial credit cards in circulation in the U.S., up 4.0% from year-end 2017. Credit cards in circulation are projected to reach 1.26 billion at year-end 2023.

Purchase volume for goods and services on credit cards issued

in the U.S. was $3.936 trillion in 2018, an increase

of 9.4%. Credit cards are projected to generate $5.460 trillion in purchase volume in 2023.

Over the next five years, Mastercard brand credit cards are projected to have the highest percentage increase in purchase volume (up 53.4%), followed by American Express (up 42.9%), Visa (up 34.6%), and Discover (up 27.3%).

Purchase volume on private label cards, where spending is confined to select general merchandise, specialty and department stores, gasoline stations, and health and wellness facilities, reached $257.95 billion in 2018, up 5.2% versus 2017. By 2023, purchase volume is expected to reach $303.61 billion, up 17.7% versus 2018.

Combined general purpose and private

label credit card purchase transactions reached 43.38 billion in 2018, an increase of 8.4% over 2017.

By 2023, purchase transactions are expected to total 57.81 billion.

The average amount of a credit card purchase transaction was $90.73 in 2018, up from $89.88 in 2017. In 2023, the average amount is projected to be $94.44.

Credit card outstandings were $1.124 trillion at the end of 2018, an increase of 5.8%. Outstandings are projected to reach $1.435 trillion by the end of 2023.

Prior issues: 1141, 1097, 1074,

1051, 1028, 1005

The average purchase amount of a credit transaction was $90.73.

5250%48

21

21%

23

20%

20

43

199

54

2018

2023

Credit Card Purchase VolumeMarket Shares in 2018 and 2023

Visa down 149 basis pointsMastercard up 218 basis points

American Express up 59 basis pointsStore down 73 basis points

Discover down 29 basis points ©2019 The Nilson Report


2018 (bil.) Share 2023 (bil.) Chg.

Visa $ 471.13 41.93% $ 580.39 23.2%

Mastercard $ 309.51 27.54% $ 390.88 26.3%

Store $ 130.83 11.64% $ 174.70 33.5%

American Express $ 119.84 10.67% $ 168.38 40.5%

Discover $ 72.88 6.49% $ 96.78 32.8%

Oil Co. $ 6.43 0.57% $ 6.85 6.5%

The Rest $ 13.06 1.16% $ 17.24 32.0%

CREDIT CARDS $ 1,123.70 100.00% $ 1,435.22 27.7%

Outstandings

‘13’18‘23

‘13’18‘23

‘13’18‘23

‘13’18‘23

‘13’18‘23

‘13’18‘23

‘13’18‘23

‘13’18‘23

‘13’18‘23

Bil. $100 $200 $300 $400 $500 $600

Visa

Mastercard

Store

AmericanExpress

Discover

U.S. Credit Cards Projected


Purchase volume generated for goods and services by general

purpose and private label debit cards issued in the U.S. reached $3.330 trillion in 2018, up 10.3% over 2017. Market share of debit cards for Visa at 51.86% grew from 51.54%. For Mastercard, market share increased to 21.79% from 21.26%. Visa and Mastercard debit figures include PIN-based Interlink and Mastercard transactions as well as prepaid cards that carry their brands.

EFT network cards including Star, Pulse, Nyce, and Accel generated purchase volume of $579.03 billion last year, up 7.9%. Market share declined to 17.39% from 17.77% in 2017.

Private label debit cards settled through the ACH (automated clearing house) generated purchase volume of $17.31 billion, up 12.0%. Those debit cards are

issued by retailers, convenience stores, and gasoline sellers. They held a 0.52% market share, an increase from 0.51% the prior

year. Private label prepaid cards issued by retailers, restaurants, and other businesses generated $281.29 billion in purchase volume, up 4.5%. The market share of private label prepaid cards at 8.45% fell from 8.92%.

General purpose and private label debit and prepaid purchase volume on cards issued in the U.S. is projected to total $4.626 trillion by 2023.

That year, Visa debit card purchase volume is projected to reach $2.461 trillion, followed by Mastercard with $1.028 trillion, and EFT networks at $758.84

Visa and Mastercard gained share vs. EFT and prepaid.


2018 (mil.) Share 2023 (mil.) Change

CREDIT CARDS 43,684.3 32.58% 58,166.0 33.2%

Visa 23,947.0 17.86% 30,637.5 27.9%

Mastercard 9,107.0 6.79% 13,286.5 45.9%

American Express 5,440.8 4.06% 7,705.6 51.6%

Discover 2,527.5 1.88% 3,570.5 41.3%

Store 1,737.0 1.30% 1,991.8 14.7%

Oil Co. 882.1 0.66% 927.0 5.1%

The Rest 42.9 0.03% 47.1 9.8%

DEBIT CARDS 90,400.2 67.42% 119,512.2 32.2%

Visa 48,128.0 35.93% 63,153.4 31.1%

Mastercard 19,619.0 14.63% 26,358.5 34.4%

EFT networks 15,077.3 11.24% 20,943.6 38.9%

Prepaid 1 7,270.2 5.42% 8,676.5 19.3%

ACH 251.7 0.19% 380.2 51.1%

TOTAL 134,084.5 100.00% 177,678.2 32.5%

Total Transactions


2018 (bil.) Share 2023 (bil.) Change

CREDIT CARDS $ 4,056.91 49.73% $ 5,608.90 38.3%

Visa $ 2,012.25 24.67% $ 2,697.83 34.1%

Mastercard $ 846.23 10.37% $ 1,290.39 52.5%

American Express $ 777.60 9.53% $ 1,110.95 42.9%

Discover $ 152.84 1.87% $ 194.47 27.2%

Store $ 181.81 2.23% $ 212.19 16.7%

Oil Co. $ 65.98 0.81% $ 75.28 14.1%

The Rest $ 20.20 0.25% $ 27.79 37.6%

DEBIT CARDS $ 4,101.15 50.27% $ 5,477.53 33.6%

Visa $ 2,239.90 27.46% $ 3,024.86 35.0%

Mastercard $ 922.95 11.31% $ 1,238.68 34.2%

EFT networks $ 639.70 7.84% $ 834.66 30.5%

Prepaid 1 $ 281.29 3.45% $ 352.20 25.2%

ACH $ 17.31 0.21% $ 27.12 56.7%

TOTAL $ 8,158.06 100.00% $ 11,086.43 35.9%

Total Volume

52

52%

53

21

22%

22

17%

16

8

199

8%

2018

2023

Debit Card Purchase VolumeMarket Shares in 2018 and 2023

Visa up 133 basis pointsMastercard up 43 basis points

EFT down 99 basis points Prepaid down 83 basis points

ACH up 7 basis points ©2019 The Nilson Report

U.S. Debit Cards Projected



billion. Prepaid purchase volume on private label cards is projected to reach $352.20 billion, with ACH debit card purchase volume at $27.12 billion.

Combined general purpose and private label debit and prepaid card purchase transactions totaled 85.32 billion in 2018, up 8.7% over 2017.

Visa showed the biggest year-over-year (2018 vs. 2017) gain (up 3.34 billion), followed by Mastercard (up 1.80 billion), EFT networks (up 1.43 billion), private label prepaid (up 259.4 million), and ACH (up 13.5 million).

By 2023, combined general purpose and private label debit card purchase transactions are projected to reach 114.39 billion.

That year, Visa debit card purchase transactions are projected to be 59.39 billion, followed by Mastercard with 25.00 billion, EFT networks with 20.94 billion, private label prepaid at 8.68 billion, and ACH at 0.38 billion.

At year-end 2018, general purpose and private label debit cards in circulation totaled 5.84 billion, an increase of 3.8% over 2017. Debit and prepaid cards in

circulation are projected to total 6.75 billion at year-end 2023, dominated by private label prepaid cards (5.82 billion), and followed by Visa (607.0 million), EFT systems (341.0 million), Mastercard (256.3 million), and ACH (33.4 million).

Prior issues: 1141, 1119, 1097, 1074, 1051, 1028

1Most debit cards carry a Visa or Mastercard logo in addition to EFT system logo(s). Therefore, the debit card total is less than the sum of the fi gures shown. However, some EFT network cards do not carry a Visa or Mastercard brand, just a secondary debit card brand. 2Private label prepaid cards. © 2019 The Nilson Report


CREDIT CARDS 1,122.3 16.13% 1,263.4 12.6%

Visa 337.7 4.85% 358.4 6.1%

Mastercard 230.6 3.31% 300.5 30.3%

American Express 53.7 0.77% 60.5 12.6%

Discover 57.2 0.82% 68.9 20.6%

Store 392.0 5.63% 421.8 7.6%

Oil Co. 32.2 2.87% 32.7 1.4%

The Rest 19.0 1.7% 20.6 8.2%

DEBIT CARDS 1 5,835.7 83.87% 6,752.2 15.7%

Visa 561.0 9.61% 607.0 8.2%

Mastercard 215.6 3.69% 256.3 18.9%

EFT networks 320.9 5.5% 341.0 6.3%

Prepaid 2 4,989.4 71.7% 5,817.9 16.6%

ACH 32.1 0.46% 33.4 4.0%

TOTAL 6,958.0 100.00% 8,015.6 15.2%

Cards



CREDIT CARDS 947.3 51.17% 1,035.9 9.4%

Visa 270.4 14.61% 276.1 2.1%

Mastercard 193.4 10.45% 240.4 24.3%


Discover 49.5 2.67% 53.8 8.8%

Store 366.2 19.78% 391.8 7.0%

Oil Co. 8.2 0.45% 7.9 –4.4%

The Rest 17.2 0.93% 19.0 10.3%

DEBIT CARDS 903.8 48.83% 962.4 6.5%

Visa 465.0 25.12% 488.7 5.1%

Mastercard 210.0 11.34% 228.7 8.9%

EFT networks 208.8 11.28% 223.0 8.9%

ACH 20.0 1.08% 22.1 10.4%

TOTAL 1,851.1 100.00% 1,998.4 8.0%

Accounts


2018 (mil.) Pct. of Adults 2023 (mil.) Pct. of Adults

CREDIT CARDS 182.0 71.67% 193.0 73.37%

Visa 125.1 49.26% 136.1 51.74%

Mastercard 98.9 38.95% 106.5 40.50%


Discover 44.5 17.52% 47.3 17.99%

Store 112.1 44.16% 118.7 45.11%

Oil Co. 26.1 10.28% 24.8 9.44%

The Rest 16.6 6.55% 18.2 6.91%

DEBIT CARDS 208.7 82.20% 222.5 84.58%

Visa 184.4 72.62% 194.0 73.75%

Mastercard 146.3 57.61% 153.9 58.51%

EFT networks 205.6 80.98% 218.5 83.06%

ACH 30.9 12.17% 40.0 15.21%

Cardholders


cards in circulation worldwide. While fraud from counterfeiting is an $8-billion problem worldwide, those losses occur substantially from transactions initiated by a magnetic stripe, even when the card has a chip. CardLatch anticipates that as mag-stripe cards completely fade from use on the global brand payment networks, criminals will increase efforts to steal card account details from EMV cards.

Skimming devices that sell for about $150 are already available for sale from online marketplaces. They can be used to steal data from contactless chips when operated from within three feet of a card. Other vulnerabilities in the EMV network infrastructure include cryptogram harvesting, remote data extraction, man-in-the-middle attacks at ATMs, and malicious code attacks in POS devices (called POS impersonation).

CardLatch’s answer is software that turns every EMV card into a digital wallet capable of initiating a

one-time-only virtual card number for each transaction. This will be combined with patent-pending technology that uses EMV

protocol boundaries to “kill” authorization attempts from counterfeit cards.

Unlike the unique cryptographic number that accompanies an authorization request initiated when an EMV card interacts with an EMV terminal, CardLatch’s digital wallet-like protection generates numbers that cannot be predicted.

CardLatch says its system will work within the existing card network infrastructure, leveraging servers deployed at participating card issuers or their card account processors. A proof of concept is planned for the first quarter of 2020. Eyal Brosh is CEO at CardLatch in Tel Aviv, Israel, eyal@

cardlatch.com, www.cardlatch.com.

virtual payment terminals. The aim is to create for all of their

cardholders a common payment experience at

web and mobile sites as well as in mobile apps and from

connected devices. The specifications

define interfaces for the secure exchange of payment data in remote commerce environments. Options include using cryptograms and other dynamic data to improve security. It is compatible with requests for payment tokens from token service providers.

At checkout, entry of the buyer’s email address triggers presentation of all payment cards they have on file with the service, regardless of network brand. First-time customers will be prompted to provide the information needed to open an account.

The payment icon consumers will see at checkout is the logo shown here. The trademark is owned by and used with permission of EMVCo. That company is owned by Amex, Discover, JCB, Mastercard, Visa, and UnionPay.

The SRC service was tested in the U.S. By year-end, 10 sellers will have deployed it. Rollout will occur in the first half of 2020, focused on upgrading over 350,000 existing Masterpass, Visa Checkout, and expresspay (American Express)

merchants to the EMVCo SRC specifications. Masterpass, Visa Checkout, and expresspay will be phased out in 2020.

Prior issues: 1154, 1138, 1131

The trademark is owned by and used with permission of EMVCo.

Fighting EMV Counterfeit Fraud from page 1...

EMVCo Secure Remote Commerce Checkout from page 1...


© 2019 HSN Consultants, Inc. THE NILSON REPORT All Rights Reserved. Reproducing or allowing reproduction or dissemination of any portion of this newsletter in any manner for any purpose is strictly prohibited and may violate the intellectual property rights of HSN Consultants, Inc. dba The Nilson Report.

David Robertson, PublisherOctober 31, 2019

http://www.cardlatch.com


Documents

FOR 49 EARS, THE LEADIN PUBLICATION COVERIN ...Conferences & Seminars 3rd Annual International Payment Forum 2019: November 21-22, 2019. The Austria Trend Hotel Savoyen, Vienna, Austria