TD Ameritrade leverages Apple Pay to let share buyers use debit cards to instantly fund their brokerage accounts

Industry first: TD Ameritrade enables investors to instantly fund brokerage accounts using Apple Pay — TD Ameritrade — “TD Ameritrade announced an industry first today: The ability for individual investors to instantly fund a brokerage account with Apple Pay through Apple Business Chat in the Messages app on iPhone and iPad. Historically, to fund brokerage accounts, investors have had to endure a multi-day waiting period while funds were verified or manage a complicated wire transfer… Using a debit card, customers can deposit up to US$10,000 per day through Apple Pay.” 


Russian supermarket chain rolls out open loop fingerprint payments service

Sberbank and Azbuka Vkusa perfect fingerprint payment service — Sberbank — “After the quick registration process, which takes place at a checkout, clients tie two fingerprints to a Visa or Mastercard bank card and confirm the registration by coming up with a password. Payments can then be made at all stores with biometric POS terminals by scanning a fingerprint and confirming the transaction with the password. It is not necessary to use a bank card or a smartphone… The service is already available at 20 Azbuka Vkusa supermarkets, and will be added to more locations soon.” 


Blockchain mobile payments pilot to go live in Mongolia

Blockchain firm Terra to launch instant remittance, lending services in Mongolia’s capital city — e27 — “The pilot programme in Nalaikh City will launch with two main features: peer-to-peer (P2P) payments to allow instant transfer among users of different banks, and mobile payments to build the infrastructure for secure, contactless payments… The programme is set to launch within the next six months.” 


US credit unions to offer blockchain digital ID service

Credit unions adopt blockchain as the first step for digital ID — PaymentsSource — “MyCUID uses distributed ledger technology that allows credit unions to detect fraud and support self-sovereign identity, or a decentralized user-controlled authentication that can enable access to apps, programs, buildings, triggers for financial transactions, and other uses… CULedger on Jan 18 is scheduled to demonstrate MyCUID with a more general public rollout scheduled for the second half of 2019.” 


PenFed joins US move to contactless payment cards

PenFed Credit Union to give members the ability to tap to pay with new contactless Visa credit and debit cards — PenFed Credit Union — “PenFed Credit Union, the nation’s second largest federal credit union, is among the first credit card issuers in the US to roll out new contactless Visa cards across its credit and debit portfolio, giving members the ability to tap to pay at checkout… Merchants across the US have already enabled contactless payments, with 70 of the top 100 merchants, by number of transactions, offering the ability to tap to pay at checkout.” 


Swift to let merchants offer instant bank loans to online shoppers

Swift publishes new ‘Pay Later’ API standard — Swift — “By selecting Pay Later at the point of purchase, customers are provided with available loans from their banks; they can then select and initiate a loan, knowing that the funds can immediately be credited to the merchants and items dispatched. By offering the Pay Later option, merchants are in turn able to offer a wider variety of purchase options and to reach a wider consumer audience, whilst still ensuring surety of payment.” 


Apple Pay set to go live in Czech Republic and Slovakia?

Apple Pay expected to launch in Czech Republic and Slovakia in late February to early March — MacRumors — “Apple Pay will launch in the Czech Republic and Slovakia in late February to early March, according to Seznam Zprávy and Živé… Czech Republic’s two largest banks Česká Spořitelna and Komerční Banka, along with mBank, Moneta, and Air Bank, will reportedly be among the first financial institutions to offer Apple Pay to customers in the Czech Republic. Equa Bank and Banka Creditas may follow suit within the first half of the year.” 


Airlines leverage PSD2 to cut transaction fees

New payment method for air tickets successfully demonstrated — International Air Transport Association — “IATA Pay is an industry-supported initiative to develop a new payment option for consumers when purchasing a ticket directly from an airline website. It is made possible by the European Commission’s second Payment Services Directive (PSD2), and the UK’s Open Banking regulation. For airlines, the advantages of IATA Pay are: Cheaper payment option compared to other alternatives; Highly secure; Faster cashflow with instant/near instant payment to the merchant; Simpler payment process resulting in fewer lost sales.” 


California to ban paper receipts?

Ting introduces ‘Skip the Slip’ legislation to phase-out paper receipts in California — Assemblymember Phil Ting — “Assemblymember Phil Ting (D-San Francisco) today introduced AB 161, Skip the Slip legislation that makes electronic receipts the default practice when making a purchase. Businesses in the state would have to provide customers e-receipts by 2022, unless a hard copy is specifically requested… Committee hearings are expected to begin in the spring.” 


Honda to leverage in-car payments for driver rewards program

Honda Dream Drive to deliver next-generation infotainment, commerce, services and rewards to drivers and passengers — Honda — “Since 2016, Honda has worked with Visa to build and enhance the in-vehicle payment experience to make payments more convenient and secure. Now, Honda is expanding its in-vehicle payment collaboration to include Mastercard and PayPal… Honda Developer Studio is user testing a new points-based rewards program to benefit drivers and passengers for using Honda products and services. Drivers and passengers can earn rewards points for participating in a variety of activities including purchasing services, watching and listening to media, and playing games.” 


Kate Spade unveils fashion smartwatch with NFC payments

Kate Spade’s second Wear OS watch gets a serious tech upgrade — Engadget — “The Scallop Smartwatch 2 packs GPS, NFC and heart rate sensors onboard — all things its predecessor didn’t have. But it still retains the scalloped edging around the face like before, and further incorporated the pattern to the edges of this generation’s straps.” 


Michael Kors adds NFC payments to Access Sofie fashion watch

Michael Kors Access Sofie 2.0 announced with flashy looks and lots of features — Techradar — “This new model includes GPS, so you can track your runs without your phone. It has also got NFC, meaning you can make contactless payments with Google Pay, and there’s a heart rate monitor, none of which were offered by the original Access Sofie.” 


Motiv to add NFC payments to its fitness ring

Motiv is bringing NFC-based payments to its fitness ring — Techcrunch — “Announced way back at CES 2016, Motiv’s fitness ring was surprisingly capable and accurate for its tiny form factor. Earlier this year, the startup promised to bring even more functionality to the finger, starting with biometric authentication that uses a wearer’s gait to unlock devices. This year at the show, the company’s got a handful of additional new features to show off. Most interesting among them is upcoming addition of mobile payments, via NFC.” 


Octopus lets Hong Kong commuters use NFC to link their transit card to their mobile phone

Octopus App enhanced with more customer-centric mobile services — Octopus — “Octopus users with compatible Android NFC devices can simply enter their Octopus number into the Octopus app and tap their Octopus onto the back of their mobile phones. Users with iOS devices (or Android devices without NFC) can enter the Octopus number into the Octopus app, then visit any of the 50 Octopus service points that are conveniently located all over Hong Kong to tap their Octopus within seven days to complete the registration and verification process.” 


UnionPay offers access to payments APIs

UnionPay International gives global developers access to its APIs — UnionPay International — “UnionPay International is providing three types of services via UPI Developer: First, offer open access to its major APIs. Developers now have access to the APIs of 18 of UnionPay’s most popular payment and data services, including QR code payment and Token. Second, offer a combination of multiple APIs to provide partners with one-stop payment solutions, assisting them in both product developing and commercial application. Third, offer diverse technical support services, including technical documentation, technical guidance and product testing and certification.”