IBS Journal February 2017
11
Tesco in nationwide PayQwiq roll-out
mobile payments app, PayQwiq, to every store in the UK, following a pilot. The service, available for both Android and iOS smartphones, allows customers to pay and also collect Clubcard points. It has a single transaction limit of £250 and also provides customers with their transaction history and displays their Clubcard points balance.
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Mark Loch, Digital Wallet and Group Payments Strategy Director, comments: “PayQwiq offers customers a simple, convenient and secure way to pay that helps them save time at the checkout and collect Clubcard points with one simple scan of their smartphone. Since the initial roll-out of PayQwiq, customer feedback has been very positive and we are delighted to make it available to all Tesco customers across the UK.”
Yet another new entrant: Rakuten Europe Bank
operations in Europe from its Luxembourg headquarters, which the Japanese e-commerce outfit and FinTech investor set up in 2008. Initially focusing on providing payment, deposit and loan services for merchants on the PriceMinister e-commerce platform in France, Rakuten Europe Bank plans to expand, notably to act as the banking platform for the businesses that make up its ecosystem in Europe, as well as offer services to new and high-growth FinTechs across the region.
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“We are extremely pleased to be able to begin commercial operations with our European banking licence from our Luxembourg offices,” comments Masayuki Hosaka,
akuten is launching commercial banking
Representative Director and Vice Chairman, Rakuten and head of Rakuten’s FinTech businesses. “With Rakuten Europe Bank, we aim to provide banking services in Europe that will parallel the successes of the Rakuten Group’s FinTech businesses in Japan.”
Pierre Gramegna, Minister of Finance for Luxembourg, adds: “I am very pleased that Rakuten has joined the growing ranks of international groups that have chosen Luxembourg as the European hub for their banking operations. Rakuten Europe Bank will be a valuable addition to Luxembourg’s thriving FinTech ecosystem and contribute to foster innovation in the financial centre.”
The London pilot could be followed by a UK-wide roll-out next year, not only in bars and pubs but also at large music festivals and concerts.
Scott Thompson esco has extended the availability of its Scott Thompson
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