News & Views - Savantor

Innovation in payments – where next?

Tuesday, 09 September 2014
It has been an exciting month so far in the payments market. Apple has finally revealed its intentions in terms of payment capabilities with the announcement of Apple Pay, an NFC based initiative, for the iPhone 6 and iWatch. Apple Pay will use tokenisation capabilities as well as biometrics as a security feature. With this latest initiative Apple looks likely to consolidate its position as a key ‘non-traditional’ player in the payments market. MasterCard and Visa are also looking to roll out tokenisation, initially in the US followed by other countries. Meanwhile Fiserv is one of several fintech companies to announce the introduction of tokenisation capabilities to its mobile payments solution portfolio using the MasterCard and Visa tokenisation products (MDES – MasterCard Digital Enablement Service; VTS – Visa Token Service). Also this month online payments platform Braintree, a division of PayPal, has announced it will start processing Bitcoin transactions, allowing merchants to accept payments in the digital currency. Braintree also announced widespread availability of One Touch, a function that lets users pay for purchases using their iOS or Android mobile devices with a single touch. In the past few days, Transport for London (TfL) has introduced the use of contactless cards on the London Tube; this follows the abolition of cash payments on London buses earlier in the year. By so doing, TfL has given a huge boost to contactless usage, which is expected to triple over the next year. To coincide with the rollout, Barclaycard is inviting Londoners to sign up for free bPay contactless payments bands, which will let commuters pay for their journeys with a wave of their wrists. Barclays is launching biometric payments for corporate clients and will roll out voice recognition for retail clients next year as it steps up use of biometric recognition technology to combat banking fraud. Of course these are just some of the highlights of the technological developments which are currently being introduced, but it is their evolution in conjunction with each other which makes the payments market so exciting at the moment. When viewed alongside the developing roles of non-standard players such as Apple and PayPal, who can predict the shape of the market within the next 5 years?
Savantor Services

Savantor Services

Savantor services are tailored to Client needs based on our core service areas

Specialist Resourcing Payments Strategy Platform Transition Operational Efficiency
Savantor Services

Job Opportunities

Consulting and contracting roles in the payments, mobile and banking arena within the UK and across Europe

View more
Savantor Services

Savantor Views

Find out more from our Savantor brochures, MarketEye back copies and Industry opinion

Collateral Market Eye News & Views Sign Up to receive MarketEye

Client Quotes

Payments Platform Strategy and Sourcing

"We were in urgent need of external independent expertise to supplement our internal resources. Senior consultants had to quickly integrate with our team and actively contribute. Their experts quickly forged strong working relationships and delivered to our brief. We enjoyed working with them to develop our future platform strategy."

Evert R Fekkes, SVP - Payment & Savings Services - Rabobank Nederland

Platform Selection

"Savantor's support in our platform selection process has enabled us to sustain our profitability and positioning for the future. Their advice and guidance was essential to our decision-making."

Robert Lambert, Head of Cards Strategy - Permanent tsb bank - Ireland

Complex Multi-Country Migration

"This complex migration, undertaken simultaneously in Spain and Portugal, has been a complete success. Savantor has provided us with excellent support for over 3 years, both in the original business transformation programme and now this double migration. We value their open and honest approach to business, and of course the expertise that they bring."

Ricardo Gomez, Director, Operations & Technology - WiZink Bank – Spain & Portugal

Business and Platform Strategy

"Savantor successfully advised Rabobank during preparing of the platform migration for cards. Savantor demonstrated thorough knowledge of business processes and market players combined with a practical approach."

Evert Fekkes, Business Information Manager - Rabobank - Nederland

Credit Risk Review for New Product Launch

"We needed expert help at short notice and Savantor were very impressive in their response and knowledge. The results were very clear and useful, enabling us to quickly make good progress on the next steps."

Sami Karhunen, Head of Business Intelligence and SME Sales - Point Transaction Systems Oy - Finland

New Payments Initiative

"In moving our new initiative into reality, we required specialist payments knowledge and forward thinking in the retail sector. Savantor supplied this and provided very effective guidance throughout. We enjoyed working with them."

Sophie High, Head of Innovation Delivery - Cancer Research UK

Interchange Review

"Savantor did a superb job in confirming what we believed was an area of weakness. The detail we now have will enable us to agree internally what we need to do to improve structure, control and income. Nationwide management were very impressed with the quality of the Savantor team."

Adam Slater, Senior Manager - Banking - Nationwide Building Society - UK

Platform Selection & RFP Management

"OP-Pohjola Group has used Savantor in both acquiring and issuing for platform/service provider research, RFI/RFP processes and subsequent contract negotiations. Savantor's approach and commitment have always been very professional and transparent. They have been of great help for the company in providing us important insights and background information beyond vendors sales speeches."

Kai Lindstrom, Head of Acquiring - OP-Services Ltd - Finland

Clients - Request Support

Send us a support request and one of our specialists will be in contact to assist you.

Consultants – Upload your CV

Register your CV with us and gain access to a range of job opportunities through our online job search portal.