China begins regulating QR code payments — The Verge — “The regulations will initially cap payments by traditional QR codes to 500 yuan, or about US$76. When additional security measures are applied, the cap can raise to 5,000 yuan, or around U$765. At an even higher security level, banks and payment processors are given discretion over the cap.”
QR Codes
UnionPay details its mobile payment app for China’s banks
Unified app of China’s banking industry, ‘Mobile QuickPass’ officially launches today — China UnionPay — “The ‘Mobile QuickPass’ app is a unified mobile payment portal jointly developed and maintained by commercial banks and UnionPay, under the guidance of the People’s Bank of China. Customers are able to link their bank cards to the app, manage different bank accounts, and enjoy the mobile payment services and benefits offered by each bank. The services offered by this app also include UnionPay QR code payment, signing up for various mobile payment solutions, comprehensive credit card services, P2P real-time transfer and payment services in various scenarios.”
Octopus adds QR payments for taxi rides in Hong Kong
Hong Kong e-payment operator Octopus launches QR code service, aiming to get city’s 40,000 taxi drivers off cash — South China Morning Post — “Hong Kong cashless payment operator Octopus has launched a QR code service aimed at small merchants and the city’s 40,000 taxi drivers, who have long been reluctant to accept anything but cash. The new payment method, which only requires a smartphone on each side of the transaction, eliminates the need for merchants to install Octopus card readers, which at certain locations are bound by technical limitations.”
Bangkok street food vendors switch to mobile payments
Bangkok’s street food vendors are embracing mobile payments — Travel Wire Asia — “Street food vendors in Bangkok are embracing the digital revolution by offering e-payment methods for cashless transactions via smartphones… Vendors in the capital Bangkok are offering cashless payments after the Bank of Thailand (BOT) gave the green light for five banks to implement electronic payment systems using Quick Response (QR) barcodes.”
Starling Bank integrates third party rewards into open banking platform
Starling and Yoyo Wallet: Enabling loyalty with open banking — Starling Bank — “With any other bank, in order to collect loyalty points you would have to manually pay using the Yoyo app using a QR code scanner. However we have created an experience together with Yoyo, using our APIs, which means you don’t need to use any separate apps to pay. You just need to securely connect your Yoyo account to your Starling account from the Yoyo app and allow Yoyo to view your Starling account transactions. You will then be able to collect loyalty points whenever you use your Starling card, Apple Pay or Fitbit Pay at a merchant partner.”
Issuers to adopt common QR code for payments in Singapore from 2018
Common Singapore QR code to be rolled out next year — Channel News Asia — “A common Singapore Quick Response Code (SG QR) will be rolled out and adopted by payment service providers in Singapore next year, the Monetary Authority of Singapore (MAS) said on Monday… Payment services providers in Singapore have also committed to update their mobile payment apps for consumers to read the SG QR. The newly announced NETS QR will be part of SG QR as will other payment service providers such as Singtel Dash QR.”
UK supermarkets to test face recognition for proof-of-age at self-checkout tills
Supermarket self-service tills replace ID checks with facial recognition — The Telegraph — “The technology will be used to remove in-person age checks when customers are buying alcohol and other age restricted items… Using Yoti at a self service till would involve a QR code showing up on the checkout screen, which could be scanned by the app. The Yoti app would then scan the shopper’s face to confirm their identity, and would then connect to the till over the internet to verify the purchase.”
Pinterest rolls out QR-like Pincodes for stores, brands and magazines
Introducing Pincodes! Discover ideas from brands and publishers — Pinterest — “Nordstrom will now feature Pincodes throughout select stores. When you come across one, just pull out your Pinterest app to unlock a little inspiration, like Nordstrom’s carefully curated Gifts Under $100 board. You’ll also start seeing Pincodes on products from Kraft Heinz (just imagine the recipes you’ll turn up!), in select Home Depot stores, from auto companies like Kia’s exhibit in the LA Auto Show and throughout the December issue of Real Simple.”
China UnionPay tests NFC and QR transit payments
Public transport alliances set to boost UnionPay — China Daily — “In the first 19 cities where UnionPay pilot mobile payment applications will be used in public transportation, UnionPay provides users with comprehensive solutions including mobile phone QuickPass, bankcard QuickPass and QR code payment… According to Ge Huayong, president of UnionPay, more than 40 banks now accept UnionPay’s QR code payment transactions and an additional 60 or so banks are testing their systems.”
eMarketer raises mobile payments forecast for China
eMarketer projects surge in mobile payments in China — eMarketer — “eMarketer has raised its projections by more than 86% for 2017, and now expects 461.4 million people in the country to use a phone to pay at the POS… By 2021, 79.3% of smartphone users will be tapping, scanning and swiping at the POS. By comparison, the US will have 31% of users doing so, and that figure will be 23% in Germany.”
Taxi hailing app Grab targets Asian mobile payment market
Grab starts mobile wallet service at hawker stalls in Singapore — Bloomberg — “Grab will enable its four million users in the city-state to scan a quick response, or QR, code to pay for local dishes such as chicken rice and prawn noodles at hawker stands around the country. Grab plans to increase the number of small merchants accepting GrabPay from 25 to 1,000 by the end of December… The five-year-old startup plans to roll out mobile wallet services across the region next year, according to co-founder Tan Hooi Ling.”
Google reports 7.5m users of its Tez audio QR mobile payments app
Edited transcript of Alphabet earnings conference call — Yahoo Finance — “To help millions of people, we are building products specifically designed for local markets in Asia. In India last month, we launched Tez, a mobile payments and commerce app that already has more than 7.5 million users who have made more than 30m transactions. I’m really excited about the potential this brings for India’s mostly cash-based economy.”
Shanghai Metro installs QR code readers at turnstiles
Shanghai Metro will soon allow QR code payments — ECNS — “With QR code readers being installed at turnstiles in several Shanghai metro stations, subway passengers can pay their tickets via Alipay or China UnionPay simply by scanning the QR code. Maglev train stations at Pudong International Airport and Longyang Road will also accept QR payments.”
Singapore banks begin rollout of NetsPay NFC and QR mobile wallet
NetsPay mobile wallet available for download — The Straits Times — “Nets users can now leave their physical ATM cards at home. They can also ditch multiple mobile apps that provide similar payment functions. The NetsPay mobile wallet — which can digitise the credit, debit and ATM cards of six banks here — is currently available for download…. The app lets users pay through their digital Nets cards with just a tap of their mobile phone, or by scanning a QR code at merchants that accept the service — without encumbering users with the need to download multiple mobile apps.”
Seamless considers sale or closure of Seqr mobile payments service
Seamless considers re-alignment for sustainable growth — Seamless — “The proposals that are up for considerations are the following: Phasing out of the B2C offering Seqr, and a renewed focus on B2B offerings, where traction is both strong and accelerating. Phasing out the B2C offering Seqr would preferably be made in the form of a sale or winding-down. To fund the growth of B2B, and exit costs of B2C, the board considers to propose the launch of a rights issue, to be completed before year-end 2017.”
Japanese banks get go ahead for digital currency launch
Japan’s big banks plan digital currency launch — Financial Times — “A consortium of banks, led by Mizuho Financial Group and Japan Post Bank, has won support from the country’s central bank and financial regulator to launch the J Coin, an electronic currency to pay for goods and transfer money using smartphones. The J Coin would be convertible into yen on a one-to-one basis, operating via a smartphone app and using QR codes to be scanned in stores.”
Banks back government-led Taiwan Pay QR payments service
Banks offer ministry’s Taiwan Pay services — Taipei Times — “Taiwan Pay aims to provide more convenient, quicker payment services using QR code technology via smartphones, which have become a necessity in daily life,” deputy minister of finance Su Jain-rong told a news conference… The ministry spearheaded the development of Taiwan Pay to help the nation become a regional technology hub and to compete with Apple Pay, Samsung Pay and Android Pay.”
Google adopts sound-based payments for Indian mobile wallet
Introducing Tez, a mobile payments and commerce app from Google — Google — “Cash Mode is built using our proprietary AQR (Audio QR) technology, which is similar to QR codes but more convenient and more secure. And unlike NFC, it works on almost any smartphone in India, whether Android or iOS.”
New interactive technology to trace your food from field to fork
New interactive technology to trace your food from field to fork — Soil Association — “Using three types of labels and identifiers; barcode, QR code and NFC tags, shoppers simply scan or hover their smart phones to find out the unique journey behind their food. This includes information about its origin, ingredients, and any special attributes such as organic, gluten-free, dairy-free etc. Photos of the product’s creation, as well as farmer or producer profiles can be viewed too.”
Payments Council to create common QR code for Singapore
Payments Council to create common QR code for Singapore — Singapore Business Review — “The newly established Payments Council formed an industry taskforce to develop a common QR code for Singapore (SGQR)… Stakeholders in the SGQR include banks, payment schemes, QR payment service providers, and relevant government agencies.”