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7 Store Card vs. GP Card % Change in Credit Purchase Volume
7 U.S. Store Credit Cards — 2015 vs. 20149 Top Acquirers in Europe — 2015
10 Largest Visa/MasterCard Acquirers in Europe 2015
11 Europe’s Top Acquirers of Web Transactions
2 – 4 Fast Facts Management Changes Conferences & Seminars
INSIDE CHARTS
Europe’s Top Merchant Acquirers
The 10 largest merchant acquirers in Europe based on transactions handled in 2015 are shown in the chart above. They are ranked by card payments at the physical point of sale as well as in web-based and mobile channels. Transactions were initiated by global and domestic-only general purpose credit, debit, and prepaid card brands. The chart on page 9 shows the 25 largest merchant acquirers ranked by purchase volume and transactions on global and domestic-only cards. Web-based and mobile transactions
Store Cards in the U.S. 2015Outstandings on private label store credit cards reached $107.17 billion at year-end 2015, up 9.0% over the prior year. Third-party specialist retail store card issuers owned 94.87% of those
Wells Fargo WalletThe second largest debit card issuer and fifth largest credit card issuer in the U.S. will launch a proprietary mobile payment app this summer for Android OS 4.4 (or newer) handset users that can
Trusona Mobile AuthenticationThe identity and authentication platform from Trusona secures web and mobile transactions using patented technology that has been tested 119 million times in live field tests and has never been
SlimPay Direct Debit AcquiringMany European consumers prefer to make online payments from their bank accounts, not by credit or debit cards. SlimPay owns a payment institution license from Banque de France, that country’s
Popmoney P2P ProgressFiserv offers technology and services to more than 13,000 financial institutions in 80 countries. In the U.S., it offers a person-to-person (P2P) money transfer business and a consumer-to-business (C2B)
CurrentC Mobile App and Walmart PayThe consortium of retailers that formed Merchant Customer Exchange (MCX) in 2012 to develop a common mobile app have stopped testing that QR code-based technology they called
Green Dot Money Online MarketplaceThe fourth largest prepaid card issuer in the U.S., Green Dot, sees an opportunity to earn revenue by matching current and former customers with lenders offering products to people with
U.K.Ireland France RussiaSwedenDenmark
© 2016 The Nilson Report
Europe’s Top AcquirersTransactions (Mil.) in 2015
BPCE 1,424
Swedbank 2,273
2,542
3,116
Nets4,071
Barclays4,596
WorldPay6,854
Sberbank5,330
1,675 Elavon
2,089 JPMorgan
10
9
8
7
6
5
4
3
2
1
Crédit Agricole
Crédit Mutuel
> see p. 12
> see p. 6
> see p. 9
> see p. 12
> see p. 5
> see p. 5
> see p. 8
> see p. 8
FOR 45 YEARS, THE LEADING PUBLICATION COVERING PAYMENT SYSTEMS WORLDWIDE MAY 2016 / ISSUE 1087
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Conferences & Seminars
Securing Federal Identity 2016 – SCA Government Event: June 6, 2016. The Ronald Reagan Trade Center, Washington, D.C. Estimated attendance: 250-300. Nonmember cost for the one-day conference is $399. Subscribers and readers of The Nilson Report will receive a 20% discount. (Use code NILSDISC, applies to nonmember rate only.) Contact Bryan Ichikawa at SCA, (703) 582-7862, bichikawa@ smartcardalliance.org. Register at www.secur-ingfederalidentity.com.
7th International PLUS-Forum Cards, Payments and Mobile 2016: June 7-8, 2016. The Exhibition and Convention Centre “Sokolniki,” Moscow, Russia. Estimated attendance: 1,200+. Cost for the two-day conference is $700 (€615). Subscribers to The Nilson Report will receive a 20% discount. Contact Oksana Bykova at Plus Alliance Group, 7 (495) 961-1065, [email protected]. Register at www.plus-forum.com/forum_2016_en/may/.
10th Mobile Payment Innovations Summit 2016: June 14-15, 2016. The Hyatt Fisherman’s Wharf, San Francisco, California. Estimated attendance: 100+. Cost ranges from $1,095 to $1,695. Subscribers to The Nilson Report will receive a $300 discount. (Use code NILSON300.) Contact Aron Barkan at Strategic Solutions Network, (561) 674-0082, [email protected]. Register at www.paymentinnovations.net.
Cardware 2016 – Payment & Digital ID Insights: June 14-15, 2016. The Marriott Gateway on the Falls, Niagara Falls, Canada. Estimated attendance: 350. Cost for the two-day conference is $1,450. (All prices are subject to HST. Member discounts apply to those members in good standing at the time of the event.) Contact Andra Thurton at ACT Canada, (905) 426-6360, [email protected]. Register at www.cardware.ca.
Digital Banking Summit 2016: June 20-22, 2016. The Roosevelt New Orleans, New Orleans, Louisiana. Estimated attendance: 600. Cost ranges from $1,695 to $2,495. Subscribers to The Nilson Report will receive a $300 discount. (Use code TNR.) Contact Ingrid Olsen at Source Media, (212) 803-8456, [email protected] to register or with any questions. Register online at www.americanbanker.com/conferences/dig-italbanking/reginfo.html.
BLACKHAWK NETWORK will continue to provide market-ing, servicing, and processing support for consumer and corporate prepaid financial products issued by MetaBank as part of a new multiyear agreement. MetaBank is the 2nd largest issuer of Visa and MasterCard prepaid cards in the U.S. Brad Hanson is President at MetaBank and Meta Payment Systems, (605) 782-1711, [email protected], www.metapay.com. Talbott Roche is CEO at Blackhawk, (925) 226-9990, [email protected], www.blackhawknetwork.com.
PLASTC CARD, which lets cardholders add all of their payment cards into one device, will use Fit Pay’s Trusted Payment Manager platform, which supports tokenization, to offer contactless payment transactions. Ryan Marquis is CEO at Plastc, (415) 570-2877, [email protected], www.plastc.com. Michael Orlando is CEO at Fit Pay, (425) 922-2894, [email protected], www.fit-pay.com.
BANK OF AMERICA will open 5,000 ATMs to its mobile wallet customers by year-end. Customers will be able to withdraw cash, make transfers, and check balances without using a plastic card. They will select their Bank of America debit card in their digital wallet and hold their phone over the ATM’s contactless card reader to activate the devices. After that, they enter their PIN, select their account, and initiate a withdrawal, transfer, or balance inquiry. Michelle Moore is Head of Digital Banking at Bank of America, (980) 386-8359, michelle.moore@ bankofamerica.com, www.bankofamerica.com.
THE TEXAS ATTORNEY GENERAL’S Consumer Protection division has reached a settlement with PayPal regarding its Venmo mobile phone application. The Attorney General alleged Venmo used consumers’ phone contact details without clearly disclosing how the details would be used, did not clearly disclose how the consumers’ trans-actions and interactions with other users would be shared, and misrepresented that communications from Venmo were actually from particular Venmo users. PayPal has agreed to improve disclosures to consumers regarding privacy and security, and it will pay $175,000 to the State of Texas.
FORTE PAYMENT SYSTEMS’ Account Updater service for recurring payments updates monthly, taking the tokenized account of a merchant’s recurring transactions and comparing it to the information in the issuer’s database. Forte then updates the tokenized card information on file with the correct account information listed in the database. Jeff Thorness is CEO, (469) 675-9920 x709, [email protected], www.forte.net.
KOMBEA’S SecureCall product for call centers lets consumers enter Social Security numbers, credit card details, and other sensitive information on their phone’s keypad. The agent sees only dots on their screen and hears only a monotone, not distinct notes, from the keypad entry. Agents can give customers information such as a temporary PIN by playing an audio file that only the customer can hear. Ronnie Johansen is SVP of Operations, (801) 610-5800, [email protected], www.kombea.com.
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VERIFONE’S Commander Site Controller, which increases speed in payment acceptance, fueling operations, and back-office controls for gas stations and convenience stores, is now certified with First Data’s Rapid Connect to enable in-store EMV acceptance. Commander Site Controller separates payment, fuel, and POS software for easier management and remote upgrades. Dan Yienger is SVP and General Manager of Petroleum at Verifone, (727) 953-4016, [email protected], www.verifone.com.
FISERV has received a contract renewal from John Deere Financial and will continue providing revolving credit card account processing for another 10 years. The portfolio had $333.3 million in outstandings at year-end 2015. Barry Danz is VP, Account Management, Card Services at Fiserv, (678) 375 4481, [email protected], www.fiserv.com. Lawrence Sidwell is SVP at John Deere Credit Operations, (515) 267-3000, [email protected], www.johndeere.com.
ELAN FINANCIAL SERVICES, a unit of U.S. Bank, will offer Visa Bonus Rewards, Visa Bonus Rewards PLUS, Cash Rewards American Express, Travel Rewards American Express, and Visa Platinum credit card products to Union Bank & Trust’s 280,000 customers in Virginia. Matthew Carpenter is Market Director at Elan Credit Cards, (612) 973-2027, matthew.carpenter@ elanfs.com, www.elanfinancialservices.com.
PAYMENT SAVVY offers utility and telecom businesses fully integrated payment processing for credit card, debit card, and electronic check acceptance - at no cost. Instead, billers add a convenience fee to be paid by recipients when they use phone, web, or mobile (including text) channels to settle the account. Chad Deatherage is VP Sales, (214) 431-3173, [email protected], www.paymentsavvy.com.
CASHSTAR, a top provider to merchants of private label prepaid card and loyalty programs, has launched CashStar Social Engagement, which gives its customers the ability to execute and track the impact of their social media promotions and customer remediation initiatives. Gerry Gilbert is VP of Product, (207) 549-2187, [email protected], www.cashstar.com.
INSIDE SECURE’S MatrizHCE software protects sensitive data on mobile devices and allows mobile phones to be used as payment cards. It is approved for VisaReady and is preapproved and integrated with Visa token servers. Andrew McLennan is EVP Mobile Security Division at Inside Secure, (408) 658-6577, [email protected], www.insidesecure.com.
WESTERN UNION’S account payout network can connect to more than one billion bank accounts in approximately 50 countries to complete cross-border money transfers. Senders can transfer money using cash, debit card, or credit card directly to the receiver’s account online, through mobile devices, or where available at participating WU agent locations. Hikmet Ersek is CEO, (720) 332-1000, [email protected], www.westernunion.com.
MASTERCARD’S Simplify Controls lets small and medium-sized businesses control, prevent, and monitor ecommerce transactions in real time. Merchants can use a mobile app and desktop dashboard to customize their fraud settings for transaction size, country of origin, repeat transactions, and more. Deborah Barta is Simplify Commerce Global Lead, (636) 722-4038, [email protected], http://smplfy.cm/controls.
ALLIANCE DATA’S Card Services business has received a long-term contract renewal from retailer Forever21 to provide private label and co-brand credit card services in the U.S. Melisa Miller is President, (614) 729-4900, [email protected], www.alliancedata.com.
LOANSTAR’S MerchantLinQ platform is a free toolset that banks can offer to merchants, enabling them to generate applications for instant loans for purchases at the point of sale. Craig Haynes is Founder, (760) 774-7409, [email protected], www.loanstartechnologies.com.
EMV TESTING AND CERTIFICATION WHITE PAPER: Current Global Payment Network Requirement for the U.S. Acquiring Community is available from the EMV Migration Forum. Download at http://www.emv-connection.com/emv-testing-and-certification-white-paper-current-global-payment-network-requirements-for-the-u-s-acquiring-community/.
BOKU, a top provider of direct carrier billing for mobile payments, provides one-tap mobile payments to 75 million mobile subscribers in Europe to purchase games and apps in the Google Play store. Manfred Artmeier is VP, (415) 375-3160, [email protected], www.boku.com.
BLUEFIN PAYMENT SYSTEMS will provide the Visa Data Secure Platform as part of its PCI-validated point-to-point encryption service for retail, health-care, and education customers. Ruston Miles is Chief Innovation Officer at Bluefin, (918) 270-2583, [email protected], www.bluefin.com.
HYPERWALLET will provide payment services to 1stdibs marketplace, which connects collectors and interior designers around the world with deal-ers and galleries. Services include check, ACH, and wire transfers through Hyperwallet’s payout portal, as well as KYC compliance and 1099 tax forms. Richard Pham is CFO at 1stdibs, (212) 627-3927, [email protected], www.1stdibs.com. Brent Warrington is CEO at Hyperwallet, (604) 482-0090, [email protected], www.hyperwallet.com.
WIRECARD SINGAPORE has been approved as a principal member of Visa Inc. It is the first nonfinancial institution member in Singapore. Grigoriy Kuznetsov is EVP Global Financial Services at Wirecard Singapore, (65) 9833-8968, [email protected], www.wirecard.com. T.S. Anil is SVP, Head of Product - Asia-Pacific at Visa, (65) 6671-5580, [email protected], www.visa.com.
Pamela Joseph, formerly at U.S. Bank, has been appointed President and COO at TSYS, (706) 649-2310, [email protected]. Margie Frasier has been appointed Senior Vice President for Global Partnerships and Alliances General Manager at Semafone, (978) 893-8621, [email protected]. Ken Gavrity has been appointed Head of the Enterprise Commercial Payments Group at KeyBank, (216) 813-5538, [email protected]. Chris Vukelich has been appointed Senior Vice President at UpLift, (480) 381-1895, [email protected]. Scott Moore has been appointed General Manager of Asia-Pacific at Mozido, 82 (10) 4900-6245, [email protected].
Management Changes
© HSN Consultants, Inc. 2016 THE NILSON REPORT 2MAY 2016 / ISSUE 1087 / THE NILSON REPORT© 2016 HSN Consultants, Inc. THE NILSON REPORT 3MAY 2016 / ISSUE 1087 / THE NILSON REPORT
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COPEC, a fuel card services provider to heavy commercial transport, light fleets, and industrial and agricultural vehicles in Chile, will implement Easy-Fuel Plus Automated Vehicle Identification (AVI) from OTI PetroSmart. More than 600 retail stations in Chile distribute Copec fuel products. Cristian Balart is Assistant Manager of Business Planning for Copec, 56 (2) 2690-7460, [email protected], www.copec.cl. Charlotte Hambly-Nuss is Managing Director at OTI PetroSmart, 27 (21) 526-9100, [email protected], www.otipetrosmart.com.
ECOBANK, which operates in West, Central, East, and Southern Africa, has deployed the latest version of the TSYS Prime 4 platform to acquire Master-Card, Visa, and UnionPay card transactions in 28 countries. Eric Coffie is Group Head, Cards and Electronic Banking at Ecobank, 254 (735) 363-415, [email protected], www.ecobank.com. Rene Kruse is COO, PRIME Business Solutions, TSYS Int’l, (357) 2288-2608, [email protected], www.tsysprime.com.
PROXAMA, which provides mobile proximity commerce and payment software to banks and card issuers, has completed integration of Discover’s contactless product D-PAS (D-Payment Application Specification) into its EMV enablement technology. Patrick Regester is EVP Global Sales & Communications - Digital Payments Division at Proxama, 44 (780) 286-3616, [email protected], www.proxama.com.
PCIBOOKING SERVICE for online travel agencies and channel managers tokenizes and stores payment card data. It is gateway agnostic and requires no changes to existing workflows or frameworks. The PCI-DSS Level 1 compliant service ensures that no payment card data ever enters a user’s environment, removing them from PCI scope. Jason Perhar is Operations Director, 44 (203) 608-9357, [email protected], www.pcibooking.net.
KUDELSKI GROUP has entered into a multiyear, worldwide licensing agreement with fine Swiss Metals covering Kudelski’s smart card manu-facturing processes. In addition, fSM will acquire a number of patents from Kudelski related to manufacturing cards using embedded gold ingot including patents in Australia, China, Japan, and the U.K. Joe Chernesky is SVP of Intellectual Property and Innovation at Kudelski Group, (650) 962-2241, [email protected], www.nagra.com. Walter Lohri is CEO at fSM, 41 (41) 320-8410, [email protected], www.fine-swiss.ch.
NETWORK FOR ELECTRONIC TRANSFERS (NETS), the largest acquirer in Singapore with a merchant network of 91,000 acceptance points, will offer its customers JCB Card acceptance. Jeffrey Goh is CEO at NETS, (65) 6272-0533, [email protected], www.nets.com.sg. Vincent Ling is Managing Director at JCB Int’l Asia-Pacific, (65) 6738-0321, [email protected], www.jcbcard.com.
MYPAY, a mobile financial service provider in Myanmar, will use Cellum’s mcommerce wallet. Most of Myanmar’s population of 51 million are unbanked. However, 80% of adults have smartphones. Cellum’s wallet offers QR code, peer-to-peer transfers, online checkout, airtime top-up, and bill payment. Janos Koka is CEO at Cellum, 36 (23) 814-633, [email protected], www.cellum.com. Tim Scheffmann is CEO at MyPay, 95 (94) 2018-7538, [email protected], www.mypay.com.mm.
TSYS has added adaptive analytics from Featurespace to enhance fraud protection for its cardholder account processing clients. Featurespace’s machine-learning ARIC software platform monitors every cardholder’s spending and location to deliver real-time decision capabilities. Andrew Mathieson is Group Executive, Issuer Product Group at TSYS, (770) 663-2954, [email protected], www.tsys.com. Martina King is CEO at Featurespace, 44 (122) 334-5925, [email protected], www.featurespace.co.uk.
PAYSAFE’S multicurrency cross-border acquiring service is now available throughout the European Economic Area. The company is a principal member of MasterCard and Visa. Andrea Dunlop is CEO of Card Solutions and Acquiring at Paysafe, 44 (203) 826-9798, [email protected], www.paysafe.com.
BANGKOK BANK, which has approximately 17 million customers in Thailand, uses Fiserv’s Mobiliti Edge mobile banking and payment platform to deliver financial services via a mobile phone, tablet, or Apple Watch. The bank offers mobile peer-to-peer payments, push notifications, and alerts directly through the app. Marc Mathenz is Managing Director Asia-Pacific at Fiserv, (65) 6533-9288, [email protected], www.fiserv.com.
INTERFAX offers ShieldQ, a document management service that lets hotels and other organizations use email filtering to securely route emails auto-matically to a unified, PCI-compliant document queue. Users automatically or manually control access within a group, distributing the emails only to authorized recipients. ShieldQ meets all PCI DSS requirements for anyone who wants to remove email from PCI scope. Geoff Milton is ShieldQ Director of Sales, 44 (087) 000-5211, [email protected], www.shieldq.net.
ALINMA has opened its 1,000 ATMs and 9,000 POS terminals in Saudi Arabia to UnionPay cards. Ajay Bharti is Head of Card Operations at Alinma Bank, 966 (1) 218-5840, [email protected], www.alinma.com.
BANCA SELLA GROUP, a merchant acquirer based in Italy, will offer its ecommerce customers Smart2Pay’s platform, which delivers local alterna-tive payment methods in 80 countries. Banca Sella says it provides acquiring services to 44% of Italy’s ecommerce merchants. Alessandro Bocca is Head of eCommerce & Multi-Acquiring Services at Banca Sella, 39 (015) 450-5346, [email protected], www.gestpay.it. James Flinterman is CEO at Smart2Pay, (415) 293-8098, [email protected], www.smart2pay.com.
FORTUMO’S direct carrier billing platform offers more than 52 million people in Cote d’lvoire, Ethiopia, and Senegal the opportunity to bill digital purchases to their mobile phone account. Fortumo covers 28 countries in the Middle East & Africa, and a total of nearly 600 million mobile users. Gerri Kodres is Chief Business Officer, (372) 730-9500, [email protected], www.fortumo.com.
SEAMLESS has received authorization from Finansinspektionen, Sweden’s financial supervisory authority, to issue electronic money. Users of its SEQR mobile NFC-based payment system can send and receive money worldwide, in real time. Seamless will offer money transfers in the 12 European countries where it operates SEQR. Peter Fredell is CEO at Seamless 46 (8) 5648-7800, [email protected], www.seamless.se.
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compromised. Using that actuarial data, Trusona is able to offer insurance of $1,000 to $1,000,000 per covered transaction.
Trusona’s platform provides TruToken, a chip in a card reader device shown here, which is attached to a smartphone. The chip captures details of the swipe of a magnetic stripe card by
the person to be authen ticated.
Details include the velocity and angle of
the swipe as well as the degree of
wear and tear on the
magnetic tape. An
algorithm creates a unique
number and encrypts it. Trusona says
that no
two swipes are ever the same. Consequently, by capturing and storing the unique number, it can provide protection against any fraudster who has captured a user’s session and then attempts to reuse it. This happens with malicious software, which can steal username, password, and even biometric details.
All users register with Trusona in advance. They download an app, which they use to take a photograph of their driver’s license. The mag-stripe card and card reader are then mailed to the user. Alternatively, readers and cards can be sent to a company’s human resources department and distributed to select employees with access to core systems.
Trusona is overkill for typical ecommerce payments. It is aimed at high-value transactions such as business-to-business payments ($10,000 and above) as well as protection against fraudulent access to a company’s network.
It does so by confirming that TruToken is in the hands of a valid user. It sends a push notification to the user’s phone to
initiate authentication and then advises the designated party that the transaction is approved or denied.
Trusona’s approach is based on National Institute of Standards and Technology (NIST) specifications for Level of Assurance (LOA) used by U.S. federal government agencies. LOA ranges from 1 to 4, with 4
being the most secure. Prices companies pay to use Trusona range from $1 per month for up to 100 transactions per user without any insurance, to $100 per user per month with $1,000,000 in insurance per transaction (for LOA4) with no limits on the number of transactions. Ori Eisen is CEO at Trusona
in Scottsdale, Arizona, (480)
454-2377, [email protected],
www.trusona.com.
CurrentC, which was established to encourage payments from a consumer’s deposit account through the Automated Clearing House network. Most
members are now expected to establish partnerships with Visa, MasterCard, American Express, and Discover payment card issuers to include features of the CurrentC app, such as discounts, special offers,
and loyalty programs, in the issuers’ proprietary mobile apps. Some MCX members will launch their own QR code-based mobile payment and commerce apps (as Walmart has done, and Target is preparing to do).
Members of the MCX consortium include Walmart, Target, Sears, Best Buy, Wendy’s, 7-Eleven, CVS, Conoco, ExxonMobil, WaWa, Kohl’s, Publix, Wendy’s, Dunkin’ Donuts, Meijer, Banana Republic, Kwik Trip, Shell, 76, Circle K, and Giant Eagle.
The chip captures details of the swipe of a magnetic stripe.
MCX members include Walmart, Target, Publix, Best Buy, and CVS.
Trusona Mobile Authenticationfrom page 1...
> see p. 6
CurrentC Mobile App and Walmart Payfrom page 1...
© 2016 HSN Consultants, Inc. THE NILSON REPORT 5MAY 2016 / ISSUE 1087 / THE NILSON REPORT
receivables, up from 93.41% in 2014. The remaining 5.13% of outstandings were owned by retailers that operated their own portfolios, keeping card receivables on their balance sheets.
For the fourth year in a row, store card outstandings grew faster than outstandings tied to American Express, Discover, MasterCard, and Visa credit cards.
General purpose card outstandings reached $800.87 billion at year-end 2015, up 4.7% over 2014.
Store credit card purchase volume, with growth of 10.0% to $189.27 billion, also outperformed general purpose credit cards, which saw purchase volume increase by 7.6% to $2.832 trillion.
Store credit cards in circulation reached 359.5 million, up 6.3%. Active credit card accounts, which are those with at least one purchase transaction in the fourth quarter, grew to 153.8 million, up 5.3%.
Synchrony Financial owned 38.49% of all store card outstandings, up from 37.32% in 2014. Outstandings owned by Synchrony grew by 12.4% last year.
Synchrony’s share of purchase volume on store credit cards increased to 32.75% from 31.72%. Synchrony figures exclude its Care Credit medical cards, oil company cards, and cards co-branded with Visa and MasterCard.
In the fourth quarter of 2015, MCX signed a contract with JPMorgan Chase to add the
CurrentC app to Chase Pay, a QR code-based mobile app available to the bank’s cardholders. That contract remains in effect as new MCX merchants sign up for Chase Pay acceptance as a payment option. Chase Pay customers who make payments at MCX merchant locations and within apps will receive offers, discounts, and loyalty points from the retailers’ proprietary apps. CurrentC payments are scheduled to be processed on the Chase Commerce Solutions merchant network at fixed per-transaction rates.
Currently Chase Pay is live with some ecommerce merchants. It will be available before year-end
for cardholders at participating MCX and other merchants. Chase is the largest U.S. credit card issuer, third largest debit card issuer, and third largest merchant acquirer in the U.S.
Walmart is rolling out QR code-based Walmart Pay in stages across the U.S. So far, consumers can pay with the app at 600 of the company’s 4,600 locations nationwide (in Texas, Oklahoma, and Arkansas).
The Walmart Pay app is separate from the CurrentC app. Walmart Pay is an additional service available to 22 million customers who use Walmart’s mobile app monthly. It works with iOS and Android devices.
Users can link multiple Visa, MasterCard, American Express, and Discover credit, debit, and prepaid cards to Walmart Pay as well as their deposit account and Walmart’s proprietary credit and prepaid card products. All card credentials are stored remotely.
Payments from the app are triggered by a 4-digit PIN. Users open the app, select Walmart Pay, and scan a bar code in the checkout lane using their smartphone’s camera. Receipts are sent to the phone.
The Walmart app gives users the opportunity to comparison shop. If they are in a competitor’s store and see a product they want to buy, they can use the app to check Walmart’s price and make a purchase with Walmart Pay. The item is held for them in their local Walmart store.
Walmart Pay lets users split tender — paying part of their
purchase from a prepaid card and the remainder with cash, for example. Daniel Eckert is Senior VP at
Walmart in Bentonville, Arkansas,
(479) 204-2123, daniel.eckert@
wal-mart.com, www.walmart.com.
...an additional service for 22 mil. customers who use Walmart’s app.
Store Cards in the U.S. 2015from page 1...
CurrentC Mobile App and Walmart Payfrom page 5
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Citi Retail Services owned 28.72% of store card outstandings, down from 31.20%. Purchase volume market share for Citi fell to 26.12% from 27.94%. The figures shown do not include its oil company cards or co-branded MasterCard, Visa, and American Express cards.
Alliance Data’s market share of outstandings at 9.81% was up from 9.11%. Purchase volume market share at Alliance Data increased to 8.45% from 8.18%. Gains were made from more than 20 new private label card clients.
Wells Fargo held 7.55% of outstandings, up from 7.50%. Purchase volume market share for Wells Fargo grew to 4.12% from 4.06%.
Capital One owned 5.51% of store card outstandings, up
from 5.13%. Its purchase volume market share grew to 19.24% from 18.94%.
TD Bank owned 4.57% of store card outstandings, up from 2.92%. It bought Nordstrom’s consumer portfolio on October 1, 2015.
Its purchase volume market share grew to 4.94% from 4.02%
and included one quarter of Nordstrom credit card volume.
Other new clients were Raymour & Flanigan and MOR Furniture.
Army & Air Force Exchange continued as the largest retailer-owned portfolio of store credit card receivables. However, its share of outstandings fell to 2.57% from 2.91%, and its market share of purchase volume slipped to 3.48% from 4.06%.
Prior issues: 1062, 1039, 1019, 996
For the 4th year, store card outstand-ings grew faster than GP cards.
Rank Outstandings Purchase Volume Accounts (000) Cards ‘15 ‘14 Issuer (mil.) Chg. (mil.) Chg. Total Chg. Active Chg. (000) Chg.
1 1 Synchrony Financial $41,251.4 12% $61,983.2 14% 90,630 5% 45,507 5% 91,740 5% 2 2 Citi Retail Services $30,780.0 0% $49,440.0 3% 65,800 1% 38,000 2% 74,470 1% 3 3 Alliance Data $10,513.3 17% $15,988,1 14% 89,554 12% 36,102 7% 101,700 12% 4 4 Wells Fargo Retail Services $8,088.0 10% $7,789.0 11% 6,188 0% 1,351 5% 6,462 –3% 5 5 Capital One $5,910.0 17% $36,410.0 12% 49,100 7% 19,343 7% 54,410 7% 6 6 TD Bank $4,894.5 70% $9,335.1 35% 15,137 54% 8,450 43% 16,651 54% 7 7 Army & Air Force Exchange $2,753.2 –4% $1,714.0 –8% 2,118 0% 1,145 –2% 2,659 0% Other 1 $2,981.0 –22% $6,591.4 –6% 10,399 –24% 3,893 –26% 11,375 –24% TOTAL STORE CARDS $107,171.4 9% $189,270.8 10% 328,926 6% 153,792 5% 359,467 6%Some prior year fi gures have been restated. Use percent change to recalculate 2014 fi gures. Synchrony Financial, Citi, Alliance Data, Wells Fargo, Capital One, and TD own receivables generated by credit cards they issue on behalf of clients whose name appears on the cards, which can only be used at outlets owned or controlled by the client. Excluded are Visa, MasterCard, and American Express cards from these issuers. Also excluded are private label gasoline company credit cards owned by Synchrony, Citi, and Alliance Data and medical cards issued by Synchrony Financial. Active accounts are those with at least one purchase transaction in the fourth quarter. For cards that have two separate lines of credit (both store and general purpose), only the volume from the private label store line of credit is included. 1Includes Nordstrom’s $2.15 billion in purchase volume in 2015 prior to its sale to TD Bank and Nordstrom employee cards that were not included in the sale to TD Bank. Other also includes smaller issuers such as Signet/Sterling Jewelers, Credit First National Association, John Deere Financial, Cato, and more. © 2016 The Nilson Report
U.S. Store Credit Cards 2015 vs. 2014
10.89.9
9.2
2006 2007
6.24.5
2008 2009 2010
-6.7-7.5
-9.3
2.0 1.8
9.7
5.88.4
2011 2012
7.610.0
2013 2014 2015
8.5
2.2
9.7
6.07.8
% Change in Credit Purchase VolumeStore vs. General Purpose Cards
©2016 The Nilson Report
© 2016 HSN Consultants, Inc. THE NILSON REPORT 7MAY 2016 / ISSUE 1087 / THE NILSON REPORT
online bill payment service. Currently, more than 2,400 financial institutions use Fiserv’s P2P service, called Popmoney, and nearly 4,000 use its C2B service called CheckFree RXP.
Research showed that Fiserv’s clients’ online bill payors were not aware of person-to-person money transfer options
available to them, even when their financial institutions had used advertising and marketing to promote the other service. It also shows that those customers went outside their financial institution to a third-party provider when they needed the other service. Fiserv responded with an integrated payment strategy, which it launched in October 2015. This aims to be an antidote to the practice among financial institutions of managing P2P, C2B, and other
products in discrete business lines, which serves to depress cross-sell opportunities.
Fiserv created graphic interfaces for its clients to present to their P2P and C2B users. The visual demonstrations of how easy it is to use the other service has proven to be highly successful. At participating financial institutions,
P2P and C2B transactions and consumer users have grown by 38%
and 41% respectively over the last six months.
Fiserv doesn’t disclose Popmoney transactions, but it does say that transactions among the nearly 70 million potential users grew 21% in 2015, and that more than 30% of those transactions are now recurring P2P payments. Popmoney competes with Venmo from PayPal and Early Warning from a consortium of top banks including Wells Fargo, Bank of America, U.S. Bank, PNC, Chase, and
Capital One. Popmoney users include Citi, U.S. Bank, SunTrust, Regions Bank, TD Bank, Fifth Third, and PNC.
CheckFree RXP is available to more than 25 million active bill payors in the U.S. Last year, it handled 1.15 billion payments, up 3.0% over 2014. It competes with online bill payment providers to financial institutions including CSI, FIS, Jack Henry, and Digital Insight.Justin Jackson is VP, Product
Management Integrated Payments
Solutions and Bill Payment at
Fiserv in Dublin, Ohio, (614) 564-
4404, [email protected],
www.fiserv.com.
Prior issues: 1077, 1053, 1042, 996,
995, 994, 991, 990, 975, 972, 969,
968, 967, 963, 952, 940
central bank, which gives it access to the more than 400 million bank accounts in Europe. SlimPay is an acquirer that pulls money from a consumer’s bank account and funds a merchant’s account.
Its first merchant customers have been recurring billers and subscription services businesses in France, Germany, the Netherlands, Spain, and the U.K.
This year it opened an office in the U.S. to offer its services to payment service providers (PSPs) and acquirers as a gateway on a white-label basis. It will not acquire transactions in the U.S. Merchants selling physical goods, airline tickets, and more can take advantage of SlimPay’s gateway.
While all banks in Europe have access to the more than 400 million bank accounts,
most merchants are required to manually upload files or send EBICS (Electronic Banking Internet Communication Standard) files to those banks to debit a consumer’s bank account.
SlimPay offers merchants and their PSPs and acquirers a
single application programming interface to handle the task.
Importantly, SlimPay provides a full electronic signature and mandate management platform that is European Payments Council (EPC) compliant. Mandates are authorizations between consumers
Online bill payors were not aware of P2P money transfer options.
Popmoney P2P Progressfrom page 1...
SlimPay Direct Debit Acquiring from page 1...
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are also shown for the 10 largest acquirers handling business in those channels in the chart on page 11.
Europe’s 40 largest acquirers of Visa (including Electron), MasterCard, and Maestro bank card transactions in 2015 are ranked on pages 10 and 11.
The top 40 handled 49.66 billion card transactions from 8.7 million active merchant outlets. Collectively, Visa, MasterCard, and Maestro purchase volume at merchants totaled $2.498 trillion.
Last year 15 acquirers handled more than one billion transactions, up from 10 acquirers in 2014. Six Payment Services, BNP Paribas, Evo Payments International, and Nets Group saw their card transactions cross that threshold.
Another addition to that group was JPMorgan Commerce Solutions. It ranked 7th overall, a position gained almost entirely due to web-based transactions.
Sberbank, which has had consistent year-on-year growth since first entering the rankings in 2008, had the largest
and merchants permitting the debiting of European bank accounts.
Merchants are legally obligated by the EPC to securely store the mandate, which combines the bank account number with additional customer data including name, address, date signed, and merchant identification.
SlimPay also offers value-added services including protection for merchants in the form of risk scoring and risk classification of bank account numbers, and retry mechanisms to use if payments fail due to insufficient funds or other reasons.
SlimPay uses text messages to reach customers who have insufficient funds, and matches their phone number to bank accounts to make certain there is not a disproportionate number of bank accounts tied to the same phone.
SlimPay charges from €0.25 to €0.50 per transaction, depending on if it is a first-time sign up
by a consumer and the number of value-added services merchants request.
SlimPay received $16.5 million (€15 mil.) in
venture funding from Prime Ventures in the third quarter of 2015. Tim Natter is Head of Business Development, North
America at SlimPay in San Francisco, California,
(415) 697-4166, [email protected], www.slimpay.com.
Signature and mandate manage-ment platform is EPC compliant.
Worldpay $391.14
Barclays $351.31
Crédit Mutuel $158.72
Nets 2 $158.01
Crédit Agricole 3 $123.89
Global Pymts. 4 $119.90
Elavon 5 $114.93
Cardnet $92.09
CartaSi $88.48
Six $72.80
Worldline 6 $71.85
BPCE 3 $71.55
BNP Paribas 3 $66.63
Swedbank $66.29
Société Gén.3 $65.13
JP Morgan $63.61
Setefi 7 $60.06
B+S Card Serv.8 $56.17
Sberbank1 $53.19
Concardis 8 $44.78
Yapi Kredi $40.25
Comercia $39.65
Garanti Bank $36.95
UniCredit $33.33
AIB $31.95
Worldpay 6.85
Sberbank1 5.33
Barclays 4.60
Nets 2 4.07
Crédit Mutuel 3.12
Crédit Agricole 3 2.54
Swedbank 2.27
JP Morgan 2.09
Elavon 5 1.67
BPCE 3 1.42
Worldline 6 1.38CartaSi 1.36
Global Payments 4 1.20
BNP Paribas 3 1.10
Six 1.10
Evo 1.04
Cardnet 1.00
Société Générale 3 1.00
UniCredit 0.99
B+S Card Service 8 0.96
Comercia 0.95
Setefi 7 0.87
Garanti Bank 0.73
Yapi Kredi 0.70
T. Isbank 0.56
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
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2
3
4
5
6
7
8
9
10
11
12
13
14
15
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25Notes: Figures include all European business except for exclusions noted below. Volume is net (gross minus chargebacks) for Visa, MasterCard, Maestro, American Express, JCB, Diners Club, Discover, UnionPay, and domestic brands. 1Includes PRO100 figures. 2Includes BankAxept and Dankort figures. 4Does not include the UCS Russia business or the La Caixa joint venture (Comercia) in Spain.5Includes the Santander Elavon Merchant Services joint venture in Spain. 6Includes Bancontact/Mister Cash figures. 7Includes Pago Bancomat figures. 8Concardis and B+S Card Services include Girocard figures. © 2016 The Nilson Report
Top Acquirers in EuropeRanked by Volume (Bil.) Ranked by Transactions (Bil.)
> see p. 10
Europe’s Top Merchant Acquirersfrom page 1...
© 2016 HSN Consultants, Inc. THE NILSON REPORT 9MAY 2016 / ISSUE 1087 / THE NILSON REPORT
increase in transactions among the top 40 acquirers, and claimed the second spot to move ahead of Barclays. Nets Group, which moved into the top 10 for the first time, includes its acquiring subsidiaries Nets in Finland, Teller in Denmark, and Kortaccept in Norway.
First Data is represented in the chart under its joint venture operations with Lloyds Bank in the U.K., Allied Irish Bank in Ireland, and its wholly owned subsidiary First Data Polska in Poland.
Web-based and mobile transactions are shown in the top 40 table. Visa and MasterCard purchases included in the web-based columns are also counted
in the Visa/MasterCard columns. Other web and mobile transactions include purchases on all global and domestic-only general purpose credit and debit cards, which are not included in the Visa/MasterCard columns.
Acquirers in the top 40 handled 6.20 billion web-based and mobile transactions valued at $430.17 billion.
JPMorgan Commerce Solutions accounted for 33.5% of all web-based transactions shown, with 2.08 billion transactions valued at $60.76 billion.
Worldpay, which held a 26.2% share with 1.63 billion transactions valued at $113.72 billion, ranked second largest.
Visa/MasterCard columns do not include 234.0 million transactions generated by American Express, Diners Club, Discover, JCB, and UnionPay credit cards valued at $17.86 billion. JPMorgan Commerce
Solutions handled 66.9% of that business.
In addition, domestic-only debit transactions processed by the top 40 are not shown in the Visa/MasterCard columns. Domestic-only debit brands include BankAxept and Dankort (2.69 billion) handled by Nets in Norway and Denmark, Girocard (671.0 million) in Germany, Pago Bancomat (380.5 million) in Italy, and Carte Bancaire (15.9 million) in France.
Collectively, they accounted for 3.76 billion transactions last year and generated $167.41 billion in purchase volume at merchants.
JPMorgan Commerce Solutions handled 33.5% of web payments.
21 19 Yapi Kredi Bank Turkey 696.1 18% $40,246.7 19% 32.0 $3,539.5 361,614 619,052 22 20 T. Isbank Turkey 563.3 20% $27,397.7 27% 52.9 $4,770.1 318,981 442,673 23 21 Carrefour Banque France 18 494.2 7% $26,019.0 6% 3.9 $437.1 1,099 28,500 24 24 Setefi Italy 19 490.4 22% $35,477.3 9% 33.3 $2,518.9 243,070 348,600 25 23 Akbank Turkey 454.3 12% $23,644.5 13% 20.3 $2,473.9 320,318 413,706 26 22 Raiffeisen Bank Austria 20 450.0 4% $15,185.8 41% 22.0 $543.1 72,000 140,000 27 28 Unicre Portugal 429.8 19% $18,397.5 10% 2.4 $178.9 50,580 77,740 28 27 Handelsbanken Sweden 21 413.5 11% $17,752.3 –9% 27.4 $1,601.8 38,615 52,390 29 26 La Banque Postale France 22 412.8 8% $15,028.0 5% 18.8 $1,225.1 25,385 65,227 30 25 AIB Merchant Services Ireland 23 411.7 3% $31,768.8 8% 184.4 $16,051.5 55,523 59,020 31 29 First Data Polska Poland 406.5 17% $8,305.8 4% 1.6 $95.1 79,935 102,185 32 33 Banc Sabadell Spain 393.6 25% $20,785.9 23% 19.1 $1,720.3 171,390 226,322 33 31 Erste Bank Austria 24 374.5 11% $11,660.7 6% 14.5 $563.5 86,478 79,704 34 30 BBVA Spain & Portugal 373.8 9% $20,469.2 7% 12.9 $893.1 237,000 244,801 35 32 Concardis Germany 25 357.2 10% $40,902.0 9% 45.0 $7,205.0 110,000 338,000 36 35 Russian Standard Bank Russia 322.0 25% $6,102.7 –33% 3.3 $284.2 368,765 568,952 37 34 B+S Card Service Germany 26 320.0 10% $24,495.9 11% 14.0 $1,441.0 220,000 205,000 38 37 Bankia Spain 316.7 33% $15,689.1 28% 4.0 $378.0 100,808 97,913 39 36 Bambora Group Sweden 27 266.8 9% $12,530.2 12% 113.2 $3,916.1 23,119 32,726 40 38 Vakifbank Turkey 203.2 15% $11,507.7 20% 29.9 $1,869.3 145,389 172,746
1 1 Worldpay United Kingdom 6,834.6 8% $389,509.4 5% 1,625.4 $113,721.6 489,616 1,857,424 2 3 Sberbank Russia 3 5,326.4 46% $53,169.3 42% 59.2 $1,409.1 586,976 824,787 3 2 Barclays United Kingdom 4 4,582.1 19% $350,118.8 19% 553.7 $64,060.4 249,038 195,925 4 4 Credit Mutuel CIC France 3,116.4 9% $158,722.3 7% 123.0 $11,674.0 259,729 322,081 5 5 Credit Agricole France 5 2,535.8 8% $122,991.4 8% 136.8 $7,719.9 356,993 359,607 6 6 Swedbank Sweden 6 2,272.7 16% $66,294.9 16% 73.2 $3,809.6 114,353 194,192 7 – JPMorgan Commerce Solutions Ireland 1,932.2 — $57,818.2 — 2,079.6 $60,763.4 — — 8 7 Elavon Ireland 7 1,671.9 15% $114,384.0 –10% 216.5 $45,061.3 318,112 477,168 9 8 BPCE France 8 1,420.0 4% $71,384.5 2% 56.4 $6,174.1 399,200 331,000 10 – Nets Group Denmark 9 1,377.4 — $49,291.8 — 83.1 $4,210.8 220,596 446,836 11 10 CartaSi Italy 10 1,358.7 30% $88,476.9 6% 34.1 $2,674.4 722,442 564,821 12 9 Global Payments United Kingdom 1,195.4 14% $119,334.0 19% 98.7 $16,983.3 171,100 426,158 13 12 Six Payment Services Switzerland 11 1,098.5 14% $70,654.6 7% 33.3 $3,918.8 271,367 322,199 14 11 BNP Paribas France 12 1,097.8 10% $66,469.8 8% 44.9 $4,888.2 114,184 155,807 15 14 Evo Payments International Germany 13 1,036.7 16% $30,794.6 0% 41.1 $3,446.3 154,711 219,674 16 15 Lloyds Cardnet Merchant Serv. U.K. 14 998.0 14% $91,689.7 14% 130.0 $12,225.3 70,000 70,000 17 13 Societe Generale France 15 997.4 8% $64,959.6 5% 38.9 $4,777.2 127,380 213,884 18 17 UniCredit Italy 16 993.6 31% $33,331.5 13% 5.9 $607.9 293,124 366,405 19 16 Comercia Spain 17 949.9 20% $39,445.6 18% 48.8 $5,535.1 279,473 303,306 20 18 Garanti Bank Turkey 709.3 9% $35,399.7 17% 63.6 $4,802.2 455,671 611,113
Visa/MasterCard 1 Web-Based 2 Active Rank Transactions Volume Trans. Volume Merchant POS ‘15 ‘14 Company, Headquarters (mil.) Chg. (mil.) Chg. (mil.) (mil.) Outlets Terminals
Visa/MasterCard 1 Web-Based 2 Active Rank Transactions Volume Trans. Volume Merchant POS ‘15 ‘14 Company, Headquarters (mil.) Chg. (mil.) Chg. (mil.) (mil.) Outlets Terminals
Figures are net (gross minus chargebacks). 1Visa and MasterCard credit, debit, and prepaid cards including Electron and Maestro. Change in volume is based on local currency. 2Web-based fi gures include all card brands (Visa, MasterCard, American Express, Diners Club, JCB, UnionPay, and domestic general purpose credit and debit cards). 3PRO100 fi gures (3.2 mil., $25.3 mil.) are not included. 4Figures are for bank-owned POS terminals only. 5Includes Credit Lyonnais. Carte Bancaire fi gures (5.5 mil., $257.3 mil.) are not included. 6Includes Norway, Denmark, Estonia, Finland, Latvia, and Lithuania. 7Includes the Santander Elavon Merchant Services joint venture in Spain. 8Carte Bancaire fi gures (3.6 mil., $166.3 mil.) are not included. 9Includes Nets Oy in Finland, Teller in Denmark, Norway, and Sweden, and Kortaccept in Denmark, Finland, Norway, and Sweden. BankAxept and Dankort fi gures (2.69 bil., $108.01 bil.) are not included 10Owned by ICBPI. 11Includes Liechtenstein, Luxembourg, Germany, Italy, Poland, Hungary, Belgium, and Austria. 12Carte Bancaire fi gures (2.7 mil., $159.5 mil.) are not included. 13Includes its pan-European operation in Germany, e-Service in Poland, Popular Payments in Spain, BOI Payment Acceptance in Ireland, and BOI U.K. Payment Acceptance in Northern Ireland.
14Joint venture between Lloyds Bank and First Data. 15Carte Bancaire fi gures (2.6 mil., $166.0 mil.) are not included. 16Includes Germany, Austria, Poland, Russia, Croatia, Bulgaria, Romania, Ukraine, Hungary, Czech Republic, Slovakia, Slovenia, Bosnia, Serbia, and Ajerbaijan. 17Joint venture between la Caixa and Global Payments. 18Carte Bancaire fi gures (0.5 mil., $25.5 mil.) are not included. 19Payment unit of Intesa Sanpaolo. Pago Bancomat fi gures (380.5 mil., $23.98 bil.) are not included. 20Includes Russia, Ukraine, Belarus, Romania, Bulgaria, Slovakia, Czech Republic, Poland, Croatia, Bosnia, Serbia, Kosovo, and Albania. 21Includes acquiring in Norway, Finland, and Denmark. 22Carte Bancaire fi gures (1.0 mil., $35.7 mil.) are not included. 23Joint venture between Allied Irish Bank and First Data. 24Includes Romania, Czech Republic, Croatia, Hungary, Serbia, Ukraine, and Slovakia. 25Girocard fi gures (31.0 mil., $3.44 bil.) are not included. 26Acquires for 85% of German savings banks. Girocard fi gures (640.0 mil., $31.15 bil.) are not included. 27Owned by Nordic Capital.
© 2016 The Nilson Report
Top Merchant Acquirers in Europe 2015 Ranked by Visa/MasterCard Transactions
Rank Web Transactions Percent of Acquirer’s Total TransactionsAcquirer
Europe’s Top Acquirers of Web Transactions
1. JP Morgan 2,079,606,494 99.6
2. Worldpay 1,625,420,385 23.7
3. Barclays 553,668,839 12.0
4. Elavon 216,477,517 12.9
5. AIB 184,391,757 44.7
6. Crédit Agricole 136,816,006 5.4
7. Cardnet 130,000,000 13.0
8. Crédit Mutuel 123,002,009 3.9
9. Bambora 113,243,094 42.4
10. Global Payments 98,720,380 8.2©2016 The Nilson Report
Europe’s Top Merchant Acquirersfrom page 9...
© 2016 HSN Consultants, Inc. THE NILSON REPORT10 VISIT US ONLINE AT WWW.NILSONREPORT.COM Order Back Issues / Preview Upcoming Conferences / View Newsletter Archive 11MAY 2016 / ISSUE 1087 / THE NILSON REPORT
little or no credit histories or with subprime credit scores. It has launched Green Dot Money, an online
marketplace, to offer loans in 46 states. The loans
will be made by third-party lenders that are members of the marketplace. Green Dot will not fund the loans or participate in underwriting them. It will be paid a fee by the lenders when new loans are successfully funded.
All lenders are licensed by state or federal regulators. Cognizant of the Consumer Financial Protection Bureau’s oversight of the subprime and
payday lending industries, Green Dot has vetted lenders on its marketplace for their customer service and collection practices as well as finance charge rates and expected approval rates. Loans are expected to range from $100 to $10,000. They will have short-term and long-term payback periods. Loans can be loaded on a Green Dot prepaid card or deposited in the borrower’s checking account. Initial marketing efforts will be aimed at Green Dot’s 4.8 million existing customers. Richard Kang is Senior VP and General Manager
at Green Dot Money in Pasadena, California,
(626) 340-6393, [email protected],
www.greendotmoney.com.
initiate NFC-based payments. Wells Fargo Wallet (WFW) will be part of the Wells Fargo mobile banking app. Of the 17 million
smartphones and tablets using that app, 5 million are Android
smartphone users.
This summer, an automatic refresh of
the banking app with the WFW feature will be sent to Android users, and Visa consumer and small business card customers will be able to register. Wells customers will make WFW purchases by tapping their Android phone at NFC-enabled payment terminals worldwide, including those in more than 1.4 million U.S. merchant locations. All transactions will be host card
emulation-type using the Visa Token Service.
Wells Fargo supports Apple Pay, Samsung Pay, and Android Pay. Those apps require a download and an enrollment process for cards. Wells believes
some of its customers will prefer WFW, both for its simpler
sign-up process and for the other services available with the mobile banking app.
Well Fargo becomes the third top U.S. bank to offer a proprietary mobile payment app after Chase and Capital One. Chase Pay is QR code-based. Capital One Wallet, like Wells Fargo Wallet, is NFC-based. Wells opted for NFC over QR codes because it wanted all of its mobile payment users — Apple Pay, Samsung Pay, Android
Pay, and WFW — to have the same experience.
Cardholders will be able to view their debit card account balance or credit card line of credit information within the app before and immediately after a purchase. They will also be able to use Wells Fargo Wallet for ATM transactions without using a physical debit or ATM card. More than 40% of Wells Fargo’s ATMs will be NFC-enabled by the end of 2016. Apple Pay, Android Pay, and Samsung Pay customers will also have that ATM service.
Steve Ellis is Head, Innovation
Group at Wells Fargo in San
Francisco, California, (415) 371-
4567, [email protected],
www.wellsfargo.com.
5 million Wells cardholders use Android smartphones.
Green Dot Money Online Marketplacefrom page 1...
Wells Fargo Walletfrom page 1...
© 2016 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.
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David Robertson, PublisherMay 31, 2016
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