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Archive: News in brief

Google to launch mobile buy buttons?

May 18th, 2015

Google is expected to add buy buttons to search results pages on mobile devices in the coming weeks that will guide consumers to product pages where they can pick sizes, colours and shipping options before completing a purchase. “The buttons will accompany sponsored or paid search results, often displayed under a ‘Shop on Google’ heading at the top of the page,” WSJ reports. “Retailers including Macy’s are in talks with Google about taking part in the launch.”

India gets PIN-free contactless payments

May 15th, 2015

Contactless users in India can make payments of up to Rs2,000 (US$31) without using a PIN, following the Reserve Bank of India’s relaxation of its requirement for two-factor authentication. “Beyond this transaction limit the card has to be processed as a contact payment, and authentication with PIN will be mandatory,” the bank says. “Banks have been advised to put in place suitable velocity checks as considered appropriate.”

US mobile payments to hit $487bn

May 15th, 2015

US mobile proximity payments will rise to US$487bn gross dollar volume (GDV) by 2020, up from $7.5bn GDV this year, Aite Group forecasts. “While mobile proximity payments will grow quickly as NFC distribution becomes universal and customers begin to use the platforms,” says author Thad Peterson, “mobile commerce will drive more transaction volume than mobile proximity payments in the next five years.”

Global biometrics market to hit $14.9bn by 2024

May 15th, 2015

The global biometrics market will increase from US$2bn in 2015 to $14.9bn by 2024, with cumulative revenue for the 10-year period reaching $67.8bn, market intelligence firm Tractica forecasts. “Biometric modalities that are likely to generate the most revenue include fingerprint, iris image and voice recognition,” the company says. “Key use cases include consumer device authentication, mobile banking, ATMs, government IT systems, POS transactions, pharmacy dispensing and wearable device authentication.”

UK contactless payments up 150%

May 15th, 2015

The number of contactless transactions in the UK has risen 150% in the last six months, with the average transaction now valued at £7.24, payments processor Worldpay has revealed. Credit and debit card transaction volumes are also on the rise across the country, with card payments up 9.3% in London, followed by Leeds (8.9%), Reading (8%), Southampton (7.9%), and Liverpool (7.7%).

Samsung ‘paid $250m for LoopPay’

May 14th, 2015

Samsung paid about US$250m to acquire LoopPay, developer of the magnetic secure transmission (MST) technology that will form a key part of Samsung Pay when it launches later this year, according to Recode. The figure could rise based on executive or company performance but “the terms of the earnouts are not known”.

Denmark government aims for cashless society

May 13th, 2015

The government in Denmark has proposed doing away with the obligation for retailers in the country to accept payment in cash, in an attempt to replace it with other methods such as plastic cards and mobile payments. “The government said, as of next year, businesses such as clothing retailers, gas stations and restaurants should no longer be legally bound to accept cash,” Reuters reports. The proposal will need to be approved by parliament but is “unlikely to meet much opposition”.

iPhone 6s to include improved Touch ID

May 13th, 2015

A research note published by KGI Securities’ Ming-Chi Kuo has revealed a number of changes planned for Apple’s so-called iPhone 6s, expected to be unveiled in September, including an improved Touch ID sensor which “will improve the Apple Pay experience with faster, more secure readings,” Apple Insider reports.

Visa in talks over $20bn Visa Europe acquisition

May 12th, 2015

Visa is in preliminary talks to buy former subsidiary Visa Europe in a deal that may be valued at as much as US$20bn. “The talks, which began when Visa approached Visa Europe, are at an early stage and could fall apart if the two sides can’t agree on a price,” Bloomberg reports. “Visa Europe is owned by more than 3,000 European banks and has a put option that would force its former parent to buy it within about nine months if at least 80% of its board agrees.”

US in-store mobile payments to hit $54bn by 2019

May 11th, 2015

Mobile proximity payments — those made by consumers at the physical point of sale using a mobile device — in the US will total US$54bn by 2019, Javelin Strategy and Research has projected. Today, mobile proximity payments make up 1% of all retail transactions says Javelin, with almost one in six iOS smartphone owners making a proximity purchase within a 30 day period, nearly double the rate of Android smartphone owners.

350m NFC SEs shipped in 2014

May 8th, 2015

A total of 350m NFC secure elements were shipped in 2014, a 30% increase on the previous year, vendor association Eurosmart has revealed. It has also predicted that shipments will hit 550m this year. “The announcement of Apple Pay boosted the NFC market to an all-time high,” the association says. “We expect the growth in NFC secure elements to continue.”

Apple Pay signs up first casino resort

May 8th, 2015

The Cosmopolitan of Las Vegas has become the first casino resort to announce support for Apple Pay. “With a few point of sales already live, by early June, the resort’s front desk, concierge, VIP services, restaurant collection and lounges, bars and select retailers will offer the new payment method,” the casino says.

Samsung to use NXP SE for Chinese devices

May 8th, 2015

Samsung will build NXP’s SmartMX P61N1M3 embedded secure element into versions of its Galaxy S6 destined for China, where it will be used in the Samsung Pay NFC mobile payments service. The phone maker has previously also used Oberthur’s Pearl secure element in other versions of the flagship smartphone.

Tony Sabetti joins CPI as NFC lead

May 7th, 2015

Industry veteran Tony Sabetti has joined CPI Card Group to lead its mobile and NFC market initiatives. Sabetti, who will helm the company’s CPIMobile digital issuance solution division, was previously technology director at US carrier-owned mobile payments venture Softcard. Before that he was a senior director of sales and marketing at NXP. Sabetti is also secretary of the Smart Card Alliance’s Mobile & NFC Council.

LevelUp adds direct carrier billing

May 7th, 2015

LevelUp has added a direct carrier billing option from Danal to its NFC and QR code-based in-store mobile payments system. “With a single tap, tens of millions of US mobile subscribers can link their carrier bill to LevelUp, head to any of the 14,000 merchants in the LevelUp ecosystem and pay for their purchase,” the company says.

First Internet offers Touch ID login

May 7th, 2015

Customers using US-based First Internet Bank’s personal mobile banking application are now able to log in using their fingerprint and Apple’s Touch ID feature. The functionality is available to those running the bank’s app on the iPhone 5S, iPhone 6 and iPhone 6 Plus, with support for the iPad Air 2 and iPad Mini 3 expected in the future.

Bell ID makes case for banks to become TSPs

May 6th, 2015

PARTNER NEWS: Tokenization solutions specialist Bell ID has drawn on experience gained from multiple live projects around the world to make the case for why a bank would become a token service provider (TSP) and manage its own token vault. In a detailed blog post, the company’s Hugo Crawford outlines the challenges, the solutions and the outcomes for a hypothetical European bank.

Apple Pay now live at more than 240 banks

May 6th, 2015

Apple has added a further 24 financial institutions to its list of participating banks and credit unions, taking the total number of card issuers it works with to more than 240. “Apple is continuously building out its Apple Pay backbone,” AppleInsider reports. “In March, Apple added 39 participating banks and credit unions, a feat repeated in April.”

Nearly half of payment cards shipped in 2014 were contactless

May 6th, 2015

Contactless technology was built into more than 42% of smart payment cards shipped in 2014, up from 37% in 2013, the Smart Payment Association has revealed. More than 2.05bn chip payment cards were shipped around the world last year, just three years after global shipments exceeded the one billion mark in 2011. Growth in the Chinese and US markets contributed to the increase, says the association.

AMS picks up award for NFC chip

May 6th, 2015

AMS has won a Sesames award in the emerging payments category at Cartes America for its AS39230 BoostedNFC IC, the chip used by Apple in its iPhone 6 and Apple Watch devices. The boosted analog front end chip can “secure NFC mobile payments by delivering unparalleled NFC performance, even in devices with room for only a tiny antenna,” AMS says.

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