Archive for July 2017

92 news stories

What's New in Payments

Orange reports on the opportunities and challenges in mobile-only banking

By Rian Boden • • Updated • nfcw.com
Orange's Marc Rennard

“When we look at the future of the banking and payments ecosystem, it is clear that operators will continue to play a prominent part in the space for many years to come as they evolve from their traditional business to new non-core areas, as we have done,” the deputy CEO of mobile financial services at Orange explains in an in-depth article on mobile-only banks that is now available to download from the NFC World Knowledge Centre... More

What's New in Payments

How Australians pay: Evidence from the 2016 Consumer Payments survey

By Sarah Clark • • Updated • nfcw.com

How Australians pay: Evidence from the 2016 Consumer Payments survey — Reserve Bank of Australia — “Cards were the most frequently used means of payment in the 2016 survey, overtaking cash for the first time. Contactless ‘tap and go’ cards are an increasingly popular way of making payments, displacing cash for many lower-value transactions… Consumers are increasingly using their mobile phones to make online and person-to-person payments.”

NFC World

Tesla Model 3 has no key, so don’t forget your phone

By Sarah Clark • • nfcw.com

Tesla Model 3 has no key, so don’t forget your phone — Road/Show — “For the Model 3, Tesla engineered the car to accept a digital key transmitted through Bluetooth from an owner’s phone… As a back-up, or for valet access, each Model 3 will come with a couple of NFC cards, which can also unlock and start up the car. The cards will unlock the door with a tap on the B-pillar, and start up the car with another tap between the front seats.”

What's New in Payments

AIB celebrates Apple Pay launch with €0.01 ice cream cones

By Sarah Clark • • nfcw.com

AIB celebrates Apple Pay launch with €0.01 ice cream cones — Irish Mirror — “Apple Pay ice cream trucks will be arriving at a number of locations across the country this weekend to celebrate the arrival of Apple Pay for AIB customers. The trucks will travel through Dublin, Cork and Galway offering €0.01 cent ice cream cones to AIB customers with Apple Pay on an eligible device.”

Transit Ticketing Today

How facial recognition could replace train tickets

By Sarah Clark • • Updated • nfcw.com

How facial recognition could replace train tickets — BBC News — “A facial recognition system designed to replace the need for tickets on trains is being tested in the UK… An early version that uses two near-infrared lights to help a single camera determine texture and orientation of each pixel it captures was shown to BBC Click… Researchers told the programme that they believe it will successfully identify passengers without the need for them to stop walking and could replace ticket gates.”

What's New in Payments

Convenience store Cheers opens first unmanned, cashless outlet

By Sarah Clark • • Updated • nfcw.com

Convenience store Cheers opens first unmanned, cashless outlet — The Straits Times — “The Cheers outlet at Nanyang Polytechnic (NYP) looks like its normal store — with shelves and fridges stocked with food and drinks — except there is no cashier or assistant in sight… Customers use a QR code found on the free ‘Shop It Yourself’ mobile app to gain entry to the store… The store also features a unified self-checkout system that accepts various cashless payment modes, eliminating the need for multiple payment terminals.”

What's New in Payments

Visa chasing Indian payments market as mobile money gains traction

By Sarah Clark • • Updated • nfcw.com

Visa chasing Indian payments market as mobile money gains traction — Developing Telecoms — “Visa CEO Alfred Kelly has affirmed the company’s goal to claim a ‘fair share’ of India’s incipient cashless payment market by offering low cost, low hassle solutions to merchants… ‘Because it’s an exciting market and a lot is going on, there’s a number of players trying to get into the market,’ said Kelly. ‘We clearly have to have a way that’s low cost, low hassle, low friction to enable merchants to sign up.’”

What's New in Payments

Some Bitcoin backers are defecting to create a rival currency

By Sarah Clark • • Updated • nfcw.com

Some Bitcoin backers are defecting to create a rival currency — The New York Times — “Bitcoin Cash is set to increase the limit on the number of transactions that can be processed by the Bitcoin network every 10 minutes. Currently, the network can process only blocks of transactions that are smaller than one megabyte, which allows for roughly five transactions in a second.”

What's New in Payments

Bank of America and PayPal partner to enable in-store payments and account linking

By Sarah Clark • • nfcw.com

Bank of America and PayPal partner to enable in-store payments and account linking — Bank of America — “Bank of America will partner with PayPal to tokenize Bank of America cards for customers wishing to use PayPal for in-store purchases, across MasterCard and Visa portfolios in the US. This will support PayPal’s forthcoming NFC mobile wallet experience to enable in-store tap-to-pay purchases and reflects Bank of America’s open wallet strategy.”

What's New in Payments

TransferWise links with Apple Pay globally

By Sarah Clark • • nfcw.com

TransferWise links with Apple Pay globally — Reuters — “The London-based money transfer company said on Thursday that it was joining with Apple Inc’s payments service in the US and a handful of other countries, following a similar move in the UK in 2015. This means users on Apple devices will no longer have to insert their payments card or bank account details to send money via TransferWise, but will be able to transfer funds through their Apple Pay account, speeding up the process.”

What's New in Payments

Report: Samsung Pay coming to third-party flagships in 2018

By Sarah Clark • • nfcw.com

Report: Samsung Pay coming to third-party flagships in 2018 — Android Headlines — “The Samsung Pay mobile payments solution is currently in development for third-party devices, with the South Korean original equipment manufacturer currently planning to debut the service outside of its hardware ecosystem as early as next year, people familiar with the effort said on Thursday… The first non-Samsung device with support for Samsung Pay is set to be released around mid-2018, sources close to the company said.”

What's New in Payments

China’s Baidu enters strategic partnership with Paypal to tap Chinese tourists

By Sarah Clark • • nfcw.com

China’s Baidu enters strategic partnership with Paypal to tap Chinese tourists — Reuters — “Baidu’s payment platform, Baidu Wallet, will be accepted by roughly 17 million PayPal merchants globally, the Chinese firm said in a statement on Thursday. ‘Partnering with PayPal on technology and product innovation will provide Baidu users with the ultimate cross-border consumer experience,’ said Baidu senior vice president Guang Zhu.”

Facial recognition technology to replace passports at Australian airports

By Sarah Clark • • Updated • nfcw.com

Facial recognition technology to replace passports at Australian airports — ZDNet — “New technology will be rolled out at Australian airports that will eventually see the end of ‘known passengers’ producing their passports when arriving in the country. Minister for Immigration and Border Protection Peter Dutton said on Wednesday the new AU$22.5 million, three-year contract will initially see 105 new smartgates rolled out that will enable passengers to be processed using facial recognition.”

What's New in Payments

Moneris study reveals 36% contactless payment increase in Canada

By Sarah Clark • • nfcw.com

Moneris study reveals 36% contactless payment increase in Canada — MobileSyrup – “Moneris unveiled a 36.29% year-over-year gain, possibly due to Android Pay recently launching in Canada, and with little more than a year since Apple Pay’s full Canadian release… Within the next five and a half months Moneris predicts that 50% of all Canadian transactions will be contactless.”