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    Regulation

    News about Regulation.

    Turkey embraces cashless society despite Swedish concerns

    April 5th, 2016

    A call by Sweden’s central bank to make using cash a legal right for consumers will create question marks in the minds of central banks and other players in international markets and will raise “some concerns” about a completely cashless society, the CEO of Turkish card payment system operator BKM has told attendees during a panel session at Money20/20 Europe. More

    EMVCo updates tokenization specification with new payment account reference data element

    March 30th, 2016

    EMVCo has updated its tokenization specification to include a new payment account reference (PAR) that can be used to link a cardholder’s payment token with their primary account number (PAN) without needing to use their underlying… More

    APCA explores security code for digital wallets in Australia

    February 5th, 2016

    Members of the Australian Payments Clearing Association (APCA) are currently exploring the possibility of implementing a voluntary code of practice to regulate digital wallets in the country. The association’s 100 members were due to respond… More

    Tech firms face more regulation on payment services

    September 24th, 2015

    Regulators are looking more closely at whether technology companies that provide financial services should be supervised more heavily, according to HSBC chairman Douglas Flint. “Regulators all around the world are reflecting on the extent to which internet companies are conducting banking business and at which point they should be licensed as a bank,” Flint said, as reported by Reuters.

    China moves to open up mobile payments services

    August 4th, 2015

    People’s Bank of China has proposed new regulations that could force internet companies Alibaba, Tencent and Baidu to offer each others’ online payment services alongside their own. “If payment services from social networking and online entertainment firm Tencent and search firm Baidu are offered on Alibaba’s ecommerce sites, users could opt to use those,” Reuters reports. “Alternatively, Alipay could cement its dominance if customers opt to use it on rivals’ platforms.”

    Webinar on delivering NFC transport ticketing services at scale — See it now on NFC World

    May 22nd, 2015

    NFC World’s ‘Tap to travel: Delivering NFC transport ticketing services at scale’ webinar is now available to view online. Some 359 people signed up to take part in the live event and participants gave the… More

    Apple Pay hits delays in China

    February 16th, 2015

    “Apple Pay has hit bumps in China despite Apple’s efforts to make friends with Alibaba and UnionPay,” Caixin reports. Talks between Apple and the national payments network, which were due to lead to an agreement in March, “have stalled”, the report adds, while Apple still has regulatory hurdles to overcome as “it’s unclear whether the product meets the government’s requirements for a commercial operation”.

    Canada plans new mobile payment regs

    November 12th, 2014

    The Canadian government is preparing to give merchants the ability to refuse to accept a particular NFC payment service if it attracts higher than usual fees — should that situation ever arise in the future, a document obtained by the WSJ reveals. “Should fees set by the payment card networks in respect of contactless payments made from a mobile device increase relative to card-based contactless payments, payment card networks will develop the technical specifications to ensure that merchant acceptance of contactless payments made from a mobile device can be cancelled at the point-of-sale without disabling other forms of contactless payments acceptance,” the document states.

    Judge rules on fingerprint-locked smartphones

    November 4th, 2014

    A Virginia Circuit Court judge has ruled that police officers cannot force criminal suspects to divulge mobile phone passwords but they can force them to unlock their phone with a fingerprint scanner, WSJ reports. “The Fifth Amendment to the US Constitution gives people the right to avoid self-incrimination. That involves divulging secret passwords,” the article says. “But, providing fingerprints and other biometric information is considered outside the protection of the Fifth Amendment.”

    Apple Pay to launch in Korea?

    October 24th, 2014

    Apple is eyeing up the possibility of launching Apple Pay in Korea, Korea Bizwire reports. “It is reported that the American company inquired with the Financial Supervisory Service about the electronic payment business licensing and security suitability evaluation procedure,” the article says. “According to financial industry sources on October 20, officials from Apple Korea visited the financial regulator recently and asked about domestic registration of its new e-payment service Apple Pay.”

    iZipline and Evrythng team up for NFC pouch packaging

    October 2nd, 2013

    NFC provider iZipline has unveiled PackageTagz, a patent-pending process for adding NFC functionality to pouch packaging. PackageTagz applies an NFC tag as the package is produced and is tethered to a software platform provided by… More

    Taiwan TSM plans face opposition

    January 24th, 2013

    The decision, taken yesterday by Taiwan’s Fair Trade Commission, to grant conditional approval for Taiwan’s five carriers and transit card issuer EasyCard to set up a national TSM joint venture for NFC payments and ticketing has not… More

    Taiwan TSM project gets approval

    January 23rd, 2013

    Taiwan’s Fair Trade Commission has given the go-ahead for transportation card issuer EasyCard and the country’s five carriers to form a joint venture company to deliver NFC payments and ticketing services — provided the partners comply with a number of conditions designed to ensure a competitive environment is maintained. More

    Inside Secure adds sales agents

    December 5th, 2012

    NFC and secure chip specialist Inside Secure has appointed four sales agents in Latin America and the Middle East. BP Electronica, a division of US-based BP Sales, will represent Inside in Mexico, while Electrocomponentes will handle Argentina, Tritech… More

    Call for contributions: New report on mobile payments and the future of merchant transaction fees

    November 26th, 2012

    The NFC World team has identified ten pressure points that suggest the arrival of mobile payments will result in a fundamental change in the overall cost of processing payments and the way in which merchants transaction fees are calculated — and we’d like to hear from anyone who is working on ways to use mobile technology to cut the cost of processing transactions at the point of sale. More

    JCM demos NFC mobile wallet for gaming industry

    October 8th, 2012

    Transaction automation specialist JCM Global has demonstrated an NFC-based mobile wallet designed to be used in casinos. The new Mobile Wager Wallet has been jointly developed by JCM and mobile contactless technology specialist Techfirm and… More

    Isis to pay USAT for adding NFC to vending machines

    October 3rd, 2012

    Isis has struck a deal with vending machine technology provider USA Technologies (USAT) that will see the NFC venture paying USAT a subsidy for converting up to 7,500 vending machines to accept Isis payments in… More

    Rogers to issue NFC credit card

    September 20th, 2012

    “Rogers expects to launch a credit card that will be part of a ‘virtual wallet’ as the telecom company moves to mobile payments on smartphones,” the Montreal Gazette reports: Chief executive Nadir Mohamed said Monday… More

    Hong Kong moves towards NFC payments

    September 5th, 2012

    The Hong Kong Monetary Authority (HKMA), the government body responsible for the maintenance and development of Hong Kong’s financial infrastructure, has announced plans to implement a series of retail payment initiatives, including a first step towards… More

    Carriers get green light to launch NFC in the UK

    September 5th, 2012

    The European Commission has given its unconditional approval for the UK’s three largest mobile network operators to form a joint venture company to introduce NFC mobile payments and promotional services in the UK. More

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