IBS Journal April 2016
Visa Europe sets sights on contactless laggards
Visa Europe has announced the latest step in its campaign to bring about a cashless society. Its ‘Cashfree and Proud’ campaign runs in the UK from March to May. This targets consumers who are light contactless users, or those who have yet to try it out, reassuring them of the ease and simplicity of use. Target industry sectors are independent shops, newsagents, non-supermarket grocery stores and cafes and pubs. The campaign includes ads across
radio, digital, social and outdoor. Radio slots will feature voiceovers provided by national treasures Joanna Lumley and Brian Blessed, who have humourous exchanges (it says in the press release, we’ve yet to hear them but are sure they’re hilarious) in stores, while making a contactless purchase.
Kevin Jenkins, Managing Director of
Visa UK, says: “Contactless payments now constitute 20% of all transactions, making it the new normal for payments. This cam- paign will encourage those consumers who are yet to discover the ease and simplicity contactless to discover their cash-free “pride”.
Scott Thompson
In brief
Nigeria’s GT Bank has launched MoneyGram’s remittance receive services across its network. MoneyGram CEO Alex Holmes says: “Remittances are crucial to Nigeria’s economy. Nigerians living abroad sent more than $21 billion back into the country in 2015. Our account deposit service makes it easy and convenient for both the sender and the receiver to transfer and receive funds. We are pleased to work with GT Bank and we are proud to be connected to almost 1.5 billion bank accounts in five of the world’s largest remittance receive markets — Nigeria, China, India, Mexico and the Philippines.” Chase Bank Kenya has made the switch to a fresh card
portfolio platform, namely OpenWay’s Way4. The new system will help Chase Bank Kenya integrate omnichannel capabilities and enhance its fun management strategies. It will support the issuance of prepaid, debit and credit cards for the Kenyan bank, which has a number of initiatives on the horizon, including mobile wallets, supermarket loyalty cards, university ID cards and traveller’s cards. Hitachi is setting up a FinTech research lab in the Silicon
Valley office of its Global Centre for Social Innovation – North America (CSI-NA). Operations are expected to commence in April, with a focus on such areas as research and development of blockchain technology. Hitachi established CSI-NA in April 2015 to pursue collab-
orative creation with strategic partners in the Americas, and opened a dedicated research facility in Silicon Valley in Janu- ary, bringing in researchers specialising in Big Data analytics, information and communication systems, and user experience design. It is one of many established players looking to capital- ise on the booming FinTech sector. Earlier this year, it joined the Linux Foundation’s open source Hyperledger Project con- sortium as a board member. And in December, it launched a mobile cash card service in Japan, enabling consumers to use their smartphones to buy items. The firm has also developed an online banking biometric finger scanner, which is being used by the likes of Barclays.
Scott Thompson and Alex Hamilton
© IBS Intelligence 2016
www.ibsintelligence.com
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