What Is Next for Payments in 2019?

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Last week’s blog focused on some of the stand-out payments events from 2018. This time, we’re future gazing and looking at some of the payment trends which we might see this year.

The implementation of PSD2

Multi-factor authentication has hit the top of the payments industry agenda over the last year thanks to PSD2 and the drive to create a common standard for online payment security. The official deadline for complying with the Regulatory Technical Standard is 14th September 2019. As a result of the implementation, traditional banks are being forced to share customers’ data and will therefore no longer be considered a one-stop-shop for managing money.

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Relationship Status: Committed to PIN on Mobile

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One year on from the PIN on Mobile Event

This week, while the rest of the world celebrated Valentine’s Day, we marked the first anniversary since our PIN on Mobile event.

A whole year has flown by since we proclaimed our love for the technology. On February 14th 2018, the event was hosted with PCI SSC and Consult Hyperion at Level 39 to raise awareness of PCI’s new SPoC standard and explored its impact on the retail and payments industry.

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Reflecting on the stand-out payments events from 2018

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2018 was a tumultuous year for the UK payments industry, with new regulations such as PSD2 driving innovation and changing the way we pay for goods and services. We look back on some of the most significant payments highlights from last year.

Introduction of the PCI standard

The key development of the last year was the introduction of the new standard from the Payment Card Industry Security Standards Council (PCI SSC) for Software-Based PIN Entry on COTS (SPoC). With this in place, the path is now open for Consumer-off-the-Shelf (COTS) devices to be harnessed by the payments industry, as a cost-effective and secure alternative to the traditional single-purpose payment terminal to further increase card acceptance points around the world.

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Exploring the future of POS with our new Head of Marketing

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Marketing the Next Generation of POS

Last month, we welcomed Nigel Dean, as our new Head of Marketing. Nigel has over 30 years’ experience in the payments and automotive industries and has previously held senior level positions at market-leading point-of-sale providers including Racal, Thales and Spire Payments.

Throughout his impressive career he has been involved in propagating pivotal payment technologies – such as remote terminal deployment and management, traditional POS, mPOS, SmartPOS, and most recently the mobile ecosystem leveraging secure consumer authentication on Consumer off the shelf (COTS) smart devices.

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