News about Standards.
August 22nd, 2016
The Australian Competition and Consumer Commission (ACCC) has decided not to grant a group of Australian banks interim authorization to “collectively negotiate” with third party mobile wallet providers.
August 18th, 2016
EMVCo has introduced a formal industry testing and certification process for contactless mobile payment devices. The new process “incorporates Level 1 tests traditionally managed by the individual payment systems,” the payments standards body says, “bringing…
July 27th, 2016
A group of Australian banks have submitted an application to the Australian Competition and Consumer Commission (ACCC), urging for the right to ensure they are able to “collectively negotiate” with third party mobile wallet providers.
July 25th, 2016
People’s Bank of China (PBOC) is working to create a system for regulating QR code mobile payments in the country, after it suspended QR code-based services run by third-party payment providers in March 2014. “Payment providers including Alipay and Tenpay, along with a number of commercial banks, have continued marketing their QR code payment services,” Caixin reports. “A source close to the central bank said that the 2014 ban was put in place because there were no rules or standards for third party QR code payment services.” PBOC also moved to open up Chinese mobile payment services in August 2015.
July 21st, 2016
There were 326.8m chip cards in the US as of the end of June 2016, exceeding the number of people who live in the country, Visa has reported. “The US added more than 100,000 chip-enabled merchant locations in June, bringing the total to 1.3m, or about 28% of the total merchant population,” the payment network says. “More than three-quarters of those chip-ready locations are small and medium-sized businesses. In June, one in four dollars spent in-store on a Visa card was spent with a chip card in a chip terminal.” The number of Visa chip payment transactions hit 483m in June.
July 14th, 2016
More than two thirds (68%) of European consumers want to use biometrics as a method of payment authentication, research from Visa reveals, and 73% see two-factor authentication as a secure way to confirm an account holder’s identity.
July 12th, 2016
EMVCo and the Fido Alliance have signed a memorandum of understanding (MoU) to review how Fido authentication standards can support EMV payment use cases. “A key aim of the initiative is to investigate providing simpler and stronger authentication for cardholders making mobile payments using on-device authenticators such as biometrics,” EMVCo says. “Initial activities will explore how Fido’s authentication protocol can be used to support EMVCo’s cardholder verification technology.”
June 30th, 2016
Customers of banks belonging to Danish banking collective The Bokis Partnership will soon be able to make host card emulation (HCE) based mobile payments via a service that uses an HCE and tokenization platform from digital payment services provider Nets and Carta Worldwide.
June 23rd, 2016
Some 35% of all card-present transactions conducted globally between January and December 2015 used the EMV chip card standard, up from 32% in 2014, standards body EMVCo has revealed. The number of EMV payment cards in global circulation also increased by 1.4bn to 4.8bn over the 12-month period.
June 20th, 2016
LG U+ is to release a new service in August that uses biometric authentication for mobile shopping and banking transactions based on the storage of “personal biometric information in universal subscriber identity modules (USIMs),” according to Business Korea. “The platform is to be used for combination of users’ biometric information, such as fingerprint data and iris data, with the mobile carrier’s subscriber and billing information so that one-stop authentication can become possible,” the publication reports. The service will make use of Fido standards.
June 16th, 2016
More than 200 products from global technology leaders are now Fido certified, the Fido Alliance has revealed. “This represents a 100% increase since the start of 2016,” the organisation says. “These latest certifications include the first Fido certified products that support Bluetooth for wireless strong authentication.” Fido was launched in 2013 as an open security authentication concept to replace passwords with a range of methods such as biometrics. Support for Bluetooth Low Energy (BLE) and NFC was added in July 2015.
June 15th, 2016
Commuters across Bengaluru in India will soon be able to pay for travel on buses operated by Bengaluru Metropolitan Transport Corporation (BMTC) with a tap of an open loop contactless card provided by Axis Bank….
June 9th, 2016
PARTNER NEWS: Football fans at Euro 2016 will be able to pay for their journeys on the Transpole transport network in the French city of Lille with a tap of their wrist using an NFC…
June 6th, 2016
A total of 17.7bn secure elements (SEs) based on GlobalPlatform specifications were deployed globally between 2010 and 2015, representing 41% of all SE shipments in that same period, the standards body has revealed. “This is a very significant announcement, which shows just how far the secure chip technology industry has advanced in recent years,” says GlobalPlatform’s Kevin Gillick.
May 26th, 2016
MasterCard is working with other payment networks, acquirers and processors to develop a standard that will reduce EMV checkout times. “These efforts will be based on the company’s M/Chip Fast solution,” MasterCard says. “It builds on the principles of contactless or tap and go technology, helping to speed EMV transactions and shoppers through checkout lines. Testing and certification for M/Chip Fast is streamlined for efficient adoption.” The company unveiled M/Chip Fast in April 2016.
May 25th, 2016
PARTNER NEWS: Customers of Eurobank Poland can now make host card emulation (HCE) based mobile payments as a result of a collaboration between First Data Poland and tokenization and mobile payment specialist Bell ID which offers cloud-based mobile payments…
May 13th, 2016
A white paper that sets out the advantages of bringing outsourced or delegated EMV card processing back in-house and explains how taking an integrated approach to physical and digital card issuing and processing will deliver cost savings is now available to download from the NFC World+ Knowledge Centre. ‘The Case for In-Sourcing EMV’ has been produced by Proxama and aims to help clarify the benefits of in-house processing to card issuers.
May 5th, 2016
The EMV Migration Forum has released a white paper that explains the requirements for testing and certifying contact and contactless chip-enabled terminals and details the most up-to-date requirements and processes from the global payment networks. The ‘EMV Testing and Certification White Paper: Current Global Payment Network Requirements for the US Acquiring Community’ identifies use cases when testing or retesting is required for EMV chip and contactless terminals, when retesting is recommended as best practice and when only standard internal testing is advised.
May 3rd, 2016
Turkey has introduced its own card payment system in an attempt to move towards a cashless society by 2023. Known as Troy, the system has been built into all point-of-sale terminals and ATMs across the…
April 21st, 2016
PARTNER NEWS: Giesecke & Devrient (G&D) has integrated its Convego CloudPay solution with Visa Token Service (VTS). The integration will allow G&D to request and provide payment tokens from VTS to Visa issuers’ host card…