What's New in Payments

Two in three US banks plan to issue contactless cards ‘within the next few years’

Here’s why your next credit card will probably be contactless — Auriemma Consulting Group — “Today, just 22% of credit card companies offer contactless cards in the US market, mostly in select portfolios. But 67% of card issuers plan to introduce contactless cards within the next few years, according to new data from Auriemma Consulting Group.”


What's New in Payments

Samsung Pay adds support for low-cost international remittances

Samsung Pay starts overseas remittance service in 17 countries — Pulse — “Samsung Pay users can now wire money [internationally] through their mobile phones and save in fees compared to sending money overseas via a conventional remittance route… The beta service will be available in 17 countries including the United States, China, and Japan. The company plans to gradually expand the service to other countries as well as add more partners.”



What's New in Payments

US consumers to pass on mobile payments?

Instore mobile contactless services used by only 14% of online US customers, Juniper survey finds — Juniper Research — “Time is running out for OEM Pay providers to establish a dominant position in the US… Our survey shows that the majority of users who have not adopted OEM Pay are more interested in services like contactless cards than mobile-based payments.”


What's New in Payments

US Mastercard issuers commit to contactless

Mastercard Inc CEO Ajay Banga on Q4 2018 results — Seeking Alpha — “We’ve received commitments from issuers representing approximately two thirds of our total US consumer volume to issue contactless cards within the next two years. This includes Citi, Capital One, KeyBanc, Santander, HSBC and others. We’re also working with leading processors like FIS to bring contactless to smaller issuers and to credit unions.”



What's New in Payments

Discover adds support for Garmin Pay

Discover cardmembers can now make payments on the move with Garmin Pay — Discover — “Garmin Pay, which is powered by FitPay, is available on Garmin’s latest active lifestyle smartwatches… Discover cardmembers can use Garmin Pay at any merchant retail location that accepts both Discover and contactless Near Field Communication (NFC) transactions. Once a payment card is added to Garmin’s virtual wallet — which can be done through the Garmin Connect mobile app — users can tap and pay with just a few quick touches.”


Transit Ticketing Today

MTS to roll out open loop ticketing on buses and trains in San Diego

MTS partners with Init for account-based fare system in San Diego — Init SE — “Init will deliver about 900 fare validators for use on MTS buses and at rail station platforms. The validators will accept closed-loop payments such as an MTS-branded smartcard and be capable of accepting open payments such as bank-issued debit/credit cards and mobile wallets using Google Pay, Apple Pay or Samsung Pay.”


What's New in Payments

Conoco lets drivers pay at the pump with their mobile phone

Conoco launches Mobile Pay in Denver to bring easy pay-at-the-pump features to locals — Conoco — “With the My Conoco app, people can now pay at the pump and in-store on their mobile devices to get to their final destination as soon as possible… The My Conoco app launched this month in Denver and is rolling out regionally throughout the year.”


What's New in Payments

Apple reports growth in US Apple Pay acceptance

Apple Pay coming to Target, Taco Bell and more top US retail locations — Apple — “Target, Taco Bell, Hy-Vee supermarkets in the Midwest, Speedway convenience stores and Jack in the Box are the latest merchants to support Apple Pay… With the addition of these national retailers, 74 of the top 100 merchants in the US and 65% of all retail locations across the country will support Apple Pay.”


What's New in Payments

US credit unions report increase in mobile payment transaction volumes

Debit card study offered by Co-Op Financial Services highlights debit trends to watch in 2019 — Co-Op Financial Services — “A total of 55% of survey respondents have experienced increases in the number of debit cards enrolled in a mobile wallet like Apple Pay, Google Pay or Samsung Pay. Also, 53% have experienced increases in the number of debit cards transactions coming from the mobile wallet channel.”


What's New in Payments

TD Ameritrade leverages Apple Pay to let share buyers use debit cards to instantly fund their brokerage accounts

Industry first: TD Ameritrade enables investors to instantly fund brokerage accounts using Apple Pay — TD Ameritrade — “TD Ameritrade announced an industry first today: The ability for individual investors to instantly fund a brokerage account with Apple Pay through Apple Business Chat in the Messages app on iPhone and iPad. Historically, to fund brokerage accounts, investors have had to endure a multi-day waiting period while funds were verified or manage a complicated wire transfer… Using a debit card, customers can deposit up to US$10,000 per day through Apple Pay.”


US credit unions to offer blockchain digital ID service

Credit unions adopt blockchain as the first step for digital ID — PaymentsSource — “MyCUID uses distributed ledger technology that allows credit unions to detect fraud and support self-sovereign identity, or a decentralized user-controlled authentication that can enable access to apps, programs, buildings, triggers for financial transactions, and other uses… CULedger on Jan 18 is scheduled to demonstrate MyCUID with a more general public rollout scheduled for the second half of 2019.”


What's New in Payments

PenFed joins US move to contactless payment cards

PenFed Credit Union to give members the ability to tap to pay with new contactless Visa credit and debit cards — PenFed Credit Union — “PenFed Credit Union, the nation’s second largest federal credit union, is among the first credit card issuers in the US to roll out new contactless Visa cards across its credit and debit portfolio, giving members the ability to tap to pay at checkout… Merchants across the US have already enabled contactless payments, with 70 of the top 100 merchants, by number of transactions, offering the ability to tap to pay at checkout.”


What's New in Payments

California to ban paper receipts?

Ting introduces ‘Skip the Slip’ legislation to phase-out paper receipts in California — Assemblymember Phil Ting — “Assemblymember Phil Ting (D-San Francisco) today introduced AB 161, Skip the Slip legislation that makes electronic receipts the default practice when making a purchase. Businesses in the state would have to provide customers e-receipts by 2022, unless a hard copy is specifically requested… Committee hearings are expected to begin in the spring.”


What's New in Payments

SiriusXM to offer Visa in-car payments to US auto makers

Visa and SiriusXM team up to fast track the future of in-vehicle commerce — Sirius XM Holdings — “The SiriusXM e-wallet is being designed to integrate into the dashboard and will allow drivers and their passengers to complete and make purchases for everyday tasks on-the-go: shop and pay for coffee, find and pre-pay for gas, locate and pay for parking, purchase movie tickets, seamlessly pay tolls, and more. Users will activate and authenticate payment with their Visa account using biometric authentication, like voice and touchscreen commands, to eliminate driver distractions during the transaction.”


What's New in Payments

Paytm sets sights on US payments market

Paytm chief eyes dominance in Japanese market as ticket to US — MoneyControl — “After becoming an almost household name in India, digital payments major Paytm has set its sight on dominating the Japanese market, a development that its founder Vijay Shekhar Sharma feels will be its ‘ticket’ to the US… ‘If we kill it in Japan, we will get the ticket to go to the big country,’ Sharma said.”


NFC World

Target begins accepting NFC payments in San Francisco

Target appears to be testing in-store Apple Pay in San Francisco — 9to5Mac — “On Twitter this week, users have reported that they are able to check out with Apple Pay at a Target store in San Francisco, specifically the Metreon location. Users say that despite Target’s resistance to the feature in the past, the terminals at this San Francisco store are NFC-enabled and work with Apple Pay. Additionally, another user reports that they were able to use a contactless card at the same Target store during the self-checkout process.”


T-Mobile offers mobile banking service that supports Apple Pay, Google Pay and Samsung Pay

T-Mobile launches mobile banking solution T-Mobile Money, available now on Android and iOS — 9to5Google — “T-Mobile Money hasn’t been officially launched, but was discovered early thanks to its (likely unintended) addition to Google Pay’s list of US banks and credit card companies. Its official website, discovered by Domain Name Wire, went live today and has the full details of the interesting offering.”


NFC World

Atlanta charity pilots NFC wristbands that let the homeless access welfare services

This tech nonprofit Is trying to help homeless people get IDs — Motherboard — “Mini City distributed 500 NFC-enabled wristbands — similar to FitBits or Nike FuelBands — to expand its services to Atlanta’s homeless. Each wearable holds an identifier number given to homeless citizens when they begin the process of obtaining a government ID. Users unlock Mini City’s app by tapping the wristband on a tablet at Salvation Army and other nonprofits like ReStart Atlanta — allowing them to book shelter beds, find nearby employment and medical resources, and check the status of their ID applications.”