Enabling customers to scan items in the aisle as they shop and then check themselves out and complete the payment process all from their mobile phone holds multiple benefits for retailers aiming to improve the in-store experience, cut costs and increase revenues, a new white paper from Rambus explains... More
Method and system for identity and credential protection and verification via blockchain — USPTO — “The present disclosure relates to the storage and verification and identity and credential data, specifically the use of distributed storage and storage via blockchain for protection of identity and credential data and the verification thereof.”
Bitcoin under the skin – Why people are using subdermal microchip wallets — CCN — “Dutchman Martijn Wismeijer is very cautious when it comes to storing Bitcoin so much so that in 2014, he had two NFC (near field communication) chips surgically implanted into each hand to store his encrypted Bitcoin keys. Wismeijer stated a number of reasons for the drastic method of storing crypto, saying he had lost the majority of his Bitcoin over the years to exchange failure, hacking, and theft… Wismeijer says he uses his chips every day to make purchases — the process involves scanning the chips with his smartphone to receive and then decrypt the keys in order to make a transaction.”
Samsung Rewards now rolling out to Samsung Pay users in India — Financial Express — “Samsung India on Thursday rolled out Samsung Rewards for the users of its mobile payments service Samsung Pay in India where they can collect and redeem ‘points’ to purchase the company’s devices. The programme is already available for Samsung Pay users in other global markets, including South Korea, the US, China, Spain, Singapore, Australia, Puerto Rico, Brazil, Russia, Thailand and Malaysia.”
Moving forward together with cities — Uber — “We’ve inked a partnership with Masabi, the global leader in public transit mobile ticketing, to let Uber customers book and use transit tickets in our app. For many people, getting around their city is already a multimodal affair, and this partnership will let riders seamlessly combine public transit with other transportation options like ridesharing, no matter where they need to go.”
Order a card a minute before payment — Alfa-Bank (translation) — “Instant issuing of the card in the application is a breakthrough technology that allows Alfa-Bank customers to order and start using the required bank card in less than a minute… Alfa-Bank is the first in the Russian market to offer its customers this opportunity… The card can be immediately added to Apple Pay and used to pay for purchases using a smartphone wherever contactless payment terminals are installed, in applications and on websites.”
Nike launches connected shoe that builds on tech from NBA jerseys — SportTechie — “NikePlus members in New York City will be able to purchase Nike’s first-ever connected sneaker, called AF1 NikeConnect QS NYC, via the Nike Snkrs app. A near field communication (NFC) chip embedded into the shoe will activate exclusive members-only opportunities when scanned with a user’s smartphone.”
Metro moves to become mobile ready, announces plans to offer new app, mobile fare payment options beginning next year — Washington Metropolitan Area Transit Authority — “The new mobile fare payment platform will work with Metro’s existing infrastructure, eventually allowing customers to tap their mobile device to the white target at the faregate. The payment process is designed to be seamless and will have a similar experience to tapping a SmarTrip card today.”
Project Zanzibar: Blurring the distinction between the digital and the physical worlds via tangible interaction in a portable implementation — Microsoft Research — “The Project Zanzibar mat combines capacitive sensing and near field communication (NFC) in a novel way, enabling multi-touch and hover gesture input to coexist with physical object manipulation and control. The Project Zanzibar research platform also introduces the power of portability in a tangible user interface because rather than provide its own display, it takes advantage of existing devices such as tablets. Roll it up, stow it and break it out at a picnic or on a train trip.”
SEC charges fintech company founder with scheme to defraud investors and misappropriate funds — US Securities and Exchange Commission — “The Securities and Exchange Commission has charged Michael Liberty, the founder of the fintech startup now known as Mozido Inc, with a scheme to trick hundreds of investors into investing in his shell companies instead of Mozido. Liberty and his accomplices then allegedly stole most of the more than US$48m raised to fund a lavish lifestyle that included private jet flights, multi-million dollar residences, expensive cars, and movie production ventures.”
Secret Service warns of chip card scheme — Krebs On Security — “The US Secret Service is warning financial institutions about a new scam involving the temporary theft of chip-based debit cards issued to large corporations. In this scheme, the fraudsters intercept new debit cards in the mail and replace the chips on the cards with chips from old cards. When the unsuspecting business receives and activates the modified card, thieves can start draining funds from the account.”
One in five organizations has experienced payments data theft over the past 12 months — ACI Worldwide — “36% of organizations believe they are at a greater risk of data breach than a year ago. 44% agreed with the view that: My company would not invest in fraud solutions that add friction to the customer experience.”
Spar Netherlands opens first cashless store — Retail Systems — “Called ‘Skippen’, or Skipping in English, the new concept enables students who download the accompanying app to purchase goods in-store without having to queue for a cash register. Shoppers simply scan items into their shopping cart via a QR code, before completing the payment with Tikkie — ABN Amro’s online payment solution.”
Jack Ma’s Ant Financial to raise $9bn, become world’s biggest unicorn — Wall Street Journal — “Chinese billionaire Jack Ma’s financial technology business is about to vault into the ranks of the world’s most valuable companies. Ant Financial Services Group, carved out of his e-commerce giant Alibaba Group Holding Ltd seven years ago, is preparing to raise US$9bn in a private funding round, according to people familiar with the matter. That ups a previous fundraising target of US$5bn.”
Alipay is stepping up data protection after PBOC fine — Yicai Global — “Alipay, the fintech platform run by Ant Financial Services Group, is looking to improve its data collection processes after China’s central bank fined it for breaching data protection regulations… Alipay published misleading video campaigns and its collection of personal financial information failed to meet minimum security requirements, the regulator said, adding that the firm also used data inappropriately.”
Chinese market targeted by scammers who set up fake QR codes to divert payments — South China Morning Post — “A food market in China has been targeted by scammers who used fake QR codes to divert mobile payments into their own account… Three men have been arrested on suspicion of printing out small pieces of paper with the QR codes on them and then sticking them over 60 codes used by traders in Nanjing… The three unemployed men — who were only identified by their surnames Zhao, Zhu and Zhang — reportedly told police they had been inspired by a friend who had made money this way.”
PayPal makes a move toward traditional banking — Wall Street Journal — “The San Jose, Calif-based payments company has been quietly reaching out to groups of customers in recent months with an offer to add basic banking features to their PayPal digital wallet. The features include Federal Deposit Insurance Corp insurance for their balances, a debit card that can be used to withdraw cash at ATMs and the ability to direct-deposit their paychecks.”
Digital is the new language of money: Americans predict payment apps will move to the top spot in their wallet and would like to manage their financial lives in one place — Koski Research — “Americans predict that apps will be the most common in-person payment type in five years… More than four in five Americans (84%) say they are interested in managing their money from one online central platform for deposits, spending, and saving.”
Amex Pay mobile payments solution launched in India — NDTV — “American Express on Monday announced the launch of Amex Pay mobile payment service in India. The service allows American Express card users to make QR code-based and contactless payments through the Amex mobile app.”
Starbucks Korea debuts voice ordering through Samsung’s Bixby — Starbucks — “Bixby allows My Starbucks Rewards customers in South Korea to place an order and pay through voice recognition ‘on command’. The feature allows customers to speak just as if they were talking to a barista in-store, including modifying their beverage to meet their personal preference… These features are an extension of Starbucks Siren Order, the company’s mobile order and pay technology, which allows customers in South Korea to order and pay for their purchases before arriving at their store.”