Included in this issue: FCA announces Project Innovate next steps | New fund campaign urges London street traders to adopt mobile and contactless payments | Banks make billions from reluctance to switch current accounts, says report | Visa opens development centre in India for new mobile payment service | SIX and Swisscom join with Banks to promote mobile payments | MasterCard extends partnership to deliver Samsung Pay | Deutsche Bank looks to blockchain | Samsung to introduce payments for TV | ESMA consultation responses on investments using virtual currency or distributed ledger technology | Latest EPC developments expected to shape the future of payments | The impact of innovation in the UK retail banking market | Banks must ‘adapt or die’ in the digital world, study warns

REGULATORY 

FCA announces Project Innovate next steps 

The FCA has published a new webpage providing an update on its achievements with Project Innovate and next steps for the year ahead.  FCA, 31 July 2015 

UK 

New fund campaign urges London street traders to adopt mobile and contactless payments

London traders have been urged to start using contactless payments as part of the London Regeneration Fund established by City Hall in order to regenerate the high street.  Finextra, 31 July 2015 

Banks make billions from reluctance to switch current accounts, says report

British banks are not providing enough transparency over current account fees, with lenders making “billions of pounds” from customers who fail to transfer their funds and lose out on potential interest payments, a report warns.  Financial Times, 5 August 2015 

WORLDWIDE 

Visa opens development centre in India for new mobile payment service

Visa is opening a technology development centre in Bangalore as they prepare for the roll out of a new mobile payment service for the Indian market.  Finextra, 5 August 2015 

SIX and Swisscom join with Banks to promote mobile payments

Swisscom has announced itself and SIX are working towards a strategic partnership to establish a universal mobile payment solution in collaboration with Swiss banks.  Swisscom, 5 August 2015 

MasterCard extends partnership to deliver Samsung Pay

MasterCard and Samsung Electronics Co have said they are extending their global partnership in order to deliver Samsung Pay in Europe.  MasterCard, 30 July 2015

Deutsche Bank looks to blockchain

Deutsche Bank has confirmed it is exploring the use of blockchain, for a variety of uses including securities clearing and settlement to anti-money laundering registries.  Finextra, 31 July 2015 

Samsung to introduce payments for TV

Samsung has said it is to introduce a new payment service via its Samsung Smart TV that will allow viewers an easy and safe payment experience.  Samsung, 5 August 2015

  ESMA consultation responses on investments using virtual currency or distributed ledger technology

ESMA has published the responses it has received following its consultation on investments using virtual currency or distributed ledger technology.  ESMA, 30 July 2015 

Latest EPC developments expected to shape the future of payments

The EPC has published its latest newsletter which looks at developments expected to shape the future of payments.  European Payments Council, 28 July 2015 

RESEARCH 

The impact of innovation in the UK retail banking market

Deloitte have published a case study and research report on the impact of innovation in the UK retail banking market.  CMA, 31 July 2015 

Banks must ‘adapt or die’ in the digital world, study warns

Banks must “adapt or die” in the digital world to meet the surging demand for mobile banking with the number of mobile customers set to jump to more than a quarter of the world’s population, a new study has warned.  Financial Times, 2 August 2015