PARTNER NEWS: Customers of French bank Crédit Agricole can now make host card emulation (HCE) based mobile payments using a new version of the bank’s mobile app ‘Ma Carte’ and Paylib, an online payment acceptance brand supported by France’s main banks... More
Mobile banking
Public-private sector digital currency experiment releases results of phase II
Public-private sector digital currency experiment releases results of phase II — Payments Canada — “The Bank of Canada, along with Payments Canada, R3 and seven commercial banks, today disclosed the results of phase II of Project Jasper, an experimental wholesale interbank payment system, using digital ledger technology (DLT)… The results show that, despite progress made, underpinning an entire wholesale payments system with DLT still faces many hurdles.”
Samsung Pay rolls out across Hong Kong following early access launch
Samsung Pay has gone live in Hong Kong with support from Mastercard, Visa and American Express and banks including Bank of China (Hong Kong), Citibank, DahSing Bank, DBS and Standard Chartered. The launch takes the mobile payment service to a total of 17 markets globally and follows its debut in Taiwan earlier this month. More
BBVA makes eight APIs available to kickstart open banking program
Spanish bank BBVA has launched its open banking program by making eight of its APIs commercially available for the first time, meaning that third-party companies including startups and developers will be able to build new products and services by accessing and integrating customers’ banking data into their applications. More
Euro Banking Association paper analyses cryptotechnologies in international payments
Euro Banking Association paper analyses cryptotechnologies in international payments — Euro Banking Association — “Our information paper shows how this technology could support industry players in meeting user expectations regarding speed, transparency and cost. We strongly believe that collaborative initiatives in this area, in particular, could unlock significant value for payment service providers and their customers.”
Introducing Paytm Payments Bank
Introducing Paytm Payments Bank — Paytm — “We are proud to bring you Paytm Payments Bank — India’s first bank with zero charges on online transactions, no minimum balance requirement and free virtual debit card… Our ambition is to become India’s most trusted and consumer-friendly bank.”
Android Pay enters 11th global market with launch in Russia
Google has launched its Android Pay mobile payments service in Russia, allowing those with eligible Visa and Mastercard credit or debit cards issued from 15 supporting banks and financial institutions to make in-store and in-app payments using their compatible mobile devices. More
Samsung Pay goes live in Taiwan with seven banks
Samsung Pay has been launched across Taiwan with support from Visa and Mastercard along with seven major banks including Citibank, Cathay United Bank, E.Sun Commercial Bank, Taishin International Bank, Fubon Bank, Union Bank of Taiwan and Standard Chartered. The service supports iris scan authentication for those with Samsung Galaxy S8 and S8+ devices. More
BBVA integrates its financial services into social and messaging networks
BBVA integrates its financial services into social and messaging networks — BBVA — “BBVA customers can now interact in Spain with the bank via social networks and instant messaging services. BBVA has developed two new tools, Chatbot and BBVA Cashup, which allow customers to access financial information via Facebook and Telegram, and also to make payments via Bizum from Whatsapp or any messaging service.”
CTBC aims to be one of first banks to provide Android Pay services
CTBC aims to be one of first banks to provide Android Pay services — Focus Taiwan — “CTBC Bank is among the Taiwanese banks gearing up to provide Android Pay services, which could be launched in the local market in June. Other candidates for the new service include First Commercial Bank and Bank SinoPac.”
Disconnected experiences put customer loyalty at risk
Disconnected experiences put customer loyalty at risk — MuleSoft — “Nearly half of UK consumers (48 per cent) would be happy for banks to share their banking transaction history with a trusted third-party if it gave them a more personalised banking experience… Nearly a third (30 per cent) of UK respondents would consider using Amazon, Google, Facebook or Apple for banking services if it was offered, rather than using their standard bank.”
Apple Pay launches in Italy with support from UniCredit and Carrefour Banca
Apple Pay has begun rolling out across Italy with support for Mastercard and Visa cards issued by Carrefour Banca and UniCredit, with American Express, CartaBCC, ExpendiaSmart, Fineco Bank, Hype, Banca Mediolanum, N26 and Widiba listed as “coming this year”. The launch takes Apple Pay to a total of 16 markets globally. More
In cashless Sweden, even God now takes collection via an app
In cashless Sweden, even God now takes collection via an app — Bloomberg — “A growing number of Swedish parishes have started taking donations via mobile apps… Most of the country’s bank branches have stopped handling cash; some shops and museums now only accept plastic; and even Stockholm’s homeless have started accepting cards as payment for their magazine.”
Samsung Pay goes live in the UK with iris scan authentication and faster transit payments
Samsung Pay is now available in the UK for customers of three financial institutions — MBNA, Nationwide and Santander — with “more on the way”. The service supports iris scan authentication as well as PIN and fingerprint authentication for Samsung Galaxy S8 and S8+ owners and offers a ‘transport card’ option designed to speed up transactions on busy Transport for London (TfL) services. More
Antelop Solutions: Why securing NFC mobile payments requires a comprehensive approach
Obtaining Mastercard and Visa security compliance and keeping in line with the payment ecosystem’s best practices will help to “reinforce” host card emulation (HCE) security levels and minimise the success rates of hacking attempts, says HCE and tokenization provider Antelop Solutions. More
One in three Americans now uses mobile P2P payments
More than a third of US consumers (36%) are now using person-to-person (P2P) mobile payment services, with millennials leading the way at nearly double that rate (62%), research released by Bank of America reveals... More
One in four banks find it difficult to verify the identity of online banking customers
One in four banks find it difficult to verify the identity of online banking customers — Kaspersky Lab — “According to the research, in 2016, 30% of banks have had security incidents affecting banking services delivered via the internet — with phishing against customers, and using customer credentials for fraudulent activities, as the top contributing factor leading to the attacks.”
UK consumers want at least three security steps to secure bank accounts
Six in ten UK consumers (60%) think that having fewer than three security steps including passwords, card readers or letters from a memorable word is “insufficient” to secure their bank account, research released by Equifax and YouGov reveals... More
CSOB: Why HCE was the right choice for a mobile wallet that goes beyond payments
Open communication and the right education for customers is key to the successful deployment of a host card emulation (HCE) based mobile payment service in a country where new banks — with their simple products and new communication style — are becoming more attractive to the younger generation, says Czech bank CSOB’s innovation manager. More
Visa to use token service to offer customised digital card services
Visa has developed a range of customised digital card management “experiences” that will allow issuers to offer Visa cardholders “greater control and insight over how they pay, where they pay and who can pay” with a digital version of their Visa card... More