What's New in Payments

Central bank reports continued growth in Chinese mobile payments market

China mobile payments maintain rapid growth in Q3 — Xinhua — “Banks in the country processed 27.27bn mobile payment transactions in the period, up 61.05% year on year, said the People’s Bank of China in a report. The value of these transactions increased by 31.52% from the same period of last year to 86.11tn yuan (about US$12.2tn). Meanwhile, online payment transactions by the non-banking institutions were valued at 63.99tn yuan in Q3, up 23.04% year on year.”



Transit Ticketing Today

First Group reports on contactless and mobile ticketing adoption on UK bus services

Bus passengers turning to contactless in record numbers, says First Group — Yahoo! Finance — “More bus passengers paid with contactless and mobile apps rather than cash on First Group’s local bus routes for the first time in its history, the company has revealed. According to bosses, 43% of payments were made by cash, with 45% made through non-cash methods, in the latest push towards a cashless society. The remainder came from ticket sales via third parties.”


Transit Ticketing Today

Bucharest Metro pilots contactless payments

Metrorex and BCR offer quick access to 9 metro stations through a new travel payment system — BCR (translation) — “Contactless card payment is available for the moment in the subway stations: Pipera, Aurel Vlaicu, Piața Victoriei 1 and 2, Piața Universitatea, Piața Unirii 1 and 2, Tineretului and Grozavești. The pilot programme will run for about 2-3 months and will be extended later to all subway stations.”



Transit Ticketing Today

Manchester to offer early bird tram fare discounts to contactless payments users

New Metrolink fares unveiled — Transport for Greater Manchester — “The new early bird offer will utilise Metrolink’s new contactless payment system, which has been used to make more than 1 million journeys following its introduction on 15 July… A survey from last year’s Early Bird pilot showed 53% of customers who had used an early bird ticket had shifted either their journey time (28%), their mode (9%) or both. 48% of customers who changed mode shifted from car and 24% from bus.”


What's New in Payments

Survey finds US consumers would switch to mobile payments to save money

Ibotta Holiday Shopping and Mobile Payments Study — Ibotta — “Of the 61% of survey respondents who have used their phones to make an in-store purchase, 63% are motivated by payment methods that offer rewards, rebates and cash back, while 55% would be inclined to adopt mobile payments if the solutions saved them money… More than half (52%) of these shoppers say they feel overwhelmed by the large number of mobile payments and rewards programmes.”



Transit Ticketing Today

Ireland seeks replacement for Leap transit card system

Plans put forward for new transport ticketing — The Irish Examiner — “The National Transport Authority (NTA) has issued a market consultation notice to engage with potential service providers as part of its plans to advance the implementation of an Account Based Ticketing (ABT) system across the bus, rail, and light-rail network. It will allow passengers to pay for their journey through mobile phones, bank cards, or official ID card or passport, removing the need to carry a special card for commuting.”


NFC World

Google offers $1m Titan M secure element bug bounty

Expanding the Android Security Rewards Program — Google — “The Android Security Rewards (ASR) program was created in 2015 to reward researchers who find and report security issues to help keep the Android ecosystem safe… Today, we’re expanding the program and increasing reward amounts. We are introducing a top prize of $1 million for a full chain remote code execution exploit with persistence which compromises the Titan M secure element on Pixel devices.”


Transit Ticketing Today

MTA to expand Omny open loop ticketing to all New York bus services and subway stations

Hand with nfc contactless smartphone over ticket reader

New York’s Omny contactless fare system is to undergo “a blitz phase of installations that will bring the popular new contactless fare payment system to all 472 stations as well as all MTA bus routes by the end of next year,” the city’s Metropolitan Transportation Authority (MTA) has announced... More


What's New in Payments

Bank of America adds face recognition to mobile banking app

Bank of America updates Android app to support Pixel 4 face unlock — 9to5Google — “Release notes for version 8.3.11 of Bank of America for Android prominently mentions the ‘Ability to sign in with face unlock (Pixel 4 only)’… After updating, you’ll need to enter your password one more time, and select the ‘Set up biometric sign-in’ checkbox. After completing BofA’s process, Pixel 4 face unlock will work on all subsequent sign-in attempts.”



What's New in Payments

Germany passes law forcing Apple to open up Apple Pay

Apple warns of risks from German law to open up mobile payments — Reuters — “A German parliamentary committee unexpectedly voted in a late-night session on Wednesday to force the tech giant to open up Apple Pay to rival providers in Germany… The legislation, which did not name Apple specifically, will force operators of electronic money infrastructure to offer access to rivals for a reasonable fee.”