From the high street to the handset: How banks can stay connected to consumers in the smartphone era

Dejamobile's Lorcan Burke

While banks may no longer need a presence on every high street to stay connected with their customers, they do need to remain very visible, especially on the smart device, to avoid being relegated to the place of a utility, payments technology provider Dejamobile’s Lorcan Burke tells NFC World readers in an in-depth article that explores the changing role of banks in the smartphone era. More


British Airways owner IAG launches mobile pay on new airline Level — City AM — “The technology, called Pair & Pay, will enable customers to connect mobile devices with their individual seatback screen to buy food, drinks, Wi-Fi packages, and duty-free products… Once selected items have been added to the shopping cart on the screen, passengers then connect their devices to the onboard network and pair their phone with the seatback, and can then use their phone to pay for the products.” 


Heat become first NBA team with mobile-only entry — ESPN — “The Miami Heat announced Thursday that fans who attend home games this upcoming season will only be able to get through the gate with tickets on their phones… Teams are gradually shifting to mobile tickets, they say, in part to reduce fraud, but also to get valuable information about the fan who actually winds up in a specific seat.” 


What code is running on Apple’s Secure Enclave security chip? Now we have a decryption key… — The Register — “Apple’s Secure Enclave, an ARM-based coprocessor used to enhance iOS security, became a bit less secure on Thursday with the publication of a firmware decryption key. The key does not provide access to the Secure Enclave Processor (SEP). Rather, it offers the opportunity to decrypt and explore the otherwise encrypted firmware code that governs it.” 


Digital payment platforms primed to topple cash — US Bank — “According to the recent US Bank Cash Behavior Survey, 47% of consumers surveyed say they prefer the use of digital apps to make payments versus cash (45%)… Overall, 50% of survey respondents reported carrying cash less than half of the time. When they do carry cash, nearly half of consumers surveyed keep less than US$20 on hand, and 76% keep less than $50.” 


New Little Caesars Reserve-n-Ready service transforms the way customers pick up pizza — Little Caesars — “Customers just place an order and pre-pay via the Little Caesars mobile app. The app will notify the customer when the order is ready. When the customer arrives at the store, they skip the line and go directly to the Pizza Portal and input a three-digit pin or scan a QR code. Then, the door on the customer’s secured compartment opens, and they take their hot, fresh order.” 


Report: 2017 Mobile Payment Usage in China — Tencent Research Institute — “Chinese consumers spent US$5.5tn via mobile payment platforms last year, about 50 times more than their American counterparts… 74% of people stated that they can live for more than a month with only 100 RMB (US$14.94) in cash. 84% people reported that they could accept a totally cashless life.” 


M-Pesa founder shares lessons learned from ten years of mobile money

Vodafone's Michael Joseph

M-Pesa pioneer Michael Joseph, founding CEO of Safaricom and now director of mobile money at Vodafone Group, explains how the service works and the lessons learned from building and deploying one of the world’s most successful mobile money services in an in-depth Q&A that is now available to download free of charge from the NFC World Knowledge Centre. More





China targets mobile payments oligopoly with clearing mandate — Financial Times — “China’s central bank has ordered online payment groups to operate through a centralised clearing house, a move likely to undercut the dominance of Ant Financial and Tencent by forcing them to share valuable transaction data with competitors… The latest PBoC instructions require all payment companies to connect to the clearing house by October 15 and to channel all payments through it by June 30.” 



Fraud cases across three prefectures involving Apple Pay exploit loophole: Sources — The Mainichi — “Multiple fraud cases involving stolen credit card information via Apple’s iPhone payment system ‘Apple Pay’ occurred across Osaka, Kyoto and Saitama prefectures in late March this year, investigative sources have revealed… Apple Japan said it had confirmed the Saitama cases, and a source disclosed that after the incidents occurred, Apple reportedly gathered credit card issuing companies together and warned them to exercise caution.” 


UK card expenditure statistics: June 2017 — UK Finance — “There were just under 1.4bn card payments in June, a monthly record and a 12% rise in the last 12 months. This is the highest annual rate of growth in the number of payments since June 2008, driven by a robust rise in online (+20%) and contactless (+143%) purchases… Contactless payments accounted for 34% of all card transactions, while online payments accounted for 13%.” 


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