Older US consumers warm to bank-led P2P payments

Make room Millennials, Zelle study finds Generation X and Boomers driving broader adoption of person-to-person (P2P) payments — Early Warning Services — “52% of Generation X and 46% of Boomer respondents said that they ‘trust’ P2P payments, and are interested in using available solutions. 76% of Generation X and 74% of Boomers surveyed ranked ‘offered through a financial institution they use’ as a top reason to trial P2P payments.” 


Sam’s Club to make it easier for shoppers to add products to Scan & Go mobile self-checkout basket

Sam’s Club files patent for next-level Scan & Go test — Sam’s Club — “With the upcoming test, we’ll enhance the experience with the launch of a technology using computer vision and machine learning. Rather than having to locate the barcode and scan it just right, the camera in the app will identify the product with a simple hover and add it to the member’s shopping list.” 


Dubai carrier looks to passive biometrics for payments security

Mastercard and du partner to usher in a new era of payments experiences and security across the Middle East and Africa — Mastercard — “NuDetect uses machine learning to analyse ‘passive biometrics’ like how a person types, holds their phone, moves their mouse or where they use their phone, to anticipate and prevent fraudulent card-not-present transactions, which includes ecommerce payments. The process to verify the user occurs without introducing any friction or interruption in the transaction.” 


Brazil, Russia, India, China and South Africa to launch Brics Pay mobile payment service

Five-currency basket: Brics countries create a single payment service — Izvestia (translation) — “One of the likely scenarios for the project is the creation of a special online wallet that will unite the payment systems of all the Brics countries… The common wallet will work in the same way as existing payment services, such as Apple Pay or Samsung Pay. To this end, a separate cloud platform will be created that will connect the national payment systems of the five countries.” 


Chinese mobile payment adoption grows 10.7% to 583m users

China’s mobile payment users reach 583 million in 2018 — Xinhua — “About 583m people used mobile payment in China in 2018, up 10.7% compared with 2017, according to a report from the China Internet Network Information Center (CNNIC)… About 67.2% of China’s internet users used mobile payments offline, up from 65.2% in 2017.” 


E Sun Bank fits face recognition to ATMs

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E Sun Commercial Bank has fitted face recognition security to its ATMs. The Taiwanese Bank is using NeoFace technology from NEC Corporation to authenticate uses at ATMs in five different locations. “These are the world’s first facial recognition automation ATMs with one-time password technology,” says the company. More


PayPal CEO: Digital payments could become a $100tn market

PayPal CEO predicts digital payments industry will mature into a $100 trillion market — CNBC — “PayPal CEO Dan Schulman told CNBC that the digital payments industry may become a US$100tn market as the financial technology sector continues to grow rapidly… ‘We live in the space of digital commerce and digital commerce is exploding still around the world,’ he said. ‘There’s an explosion in digital commerce and we’re riding that wave.'” 


Apple to launch ‘credit card paired with iPhone’

Apple, Goldman Sachs team up on credit card paired with iPhone — The Wall Street Journal — “The card will be rolled out to employees for testing in the next few weeks and officially launch later this year, according to people familiar with the matter. The companies hope to lure cardholders by offering them extra features on Apple’s Wallet app, which will let them set spending goals, track their rewards and manage their balances, the people said.” 


Analysts: 43% of iPhone users have now enabled Apple Pay

Apple Pay adoption continues to climb — Loup Ventures — “We estimate, based on our survey work as well as the growth in transactions, countries, locations, and banks, that 43% of global iPhone users have enabled Apple Pay. This is up from 36% in Sep-18 and 20% in Dec-17. That implies there are currently 383m Apple Pay users, up 21% sequentially and 135% y/y… We estimate that 24% of US iPhone users have used Apple Pay vs 47% of international users.” 


Snapchat opens empty shop that lets customers buy Lego clothing in AR

Snapchat is using AR to transform an empty shop into a pop-up Lego Wear Store — Evening Standard — “When you enter the store, you need to scan a Snapcode on the photo-sharing app, which uses augmented reality (AR) technology to showcase the clothes and in-store displays… Prospective buyers can purchase clothing through the integrated ‘shop now’ feature on Snapchat. This takes them through to the Lego Wear e-commerce site where they can select their preferred item and have it delivered to their home.” 


Lloyds Bank to pay retailers to offer cash withdrawals to customers

Lloyds Banking Group announces pilot scheme to boost the number of retailers offering cashback — Lloyds Banking Group — “There are tens of thousands of local high street shops which have the infrastructure in place to offer a cashback service but may not see it as a viable option — especially without a purchase — as they do not receive a fee for providing cashback… We need to make it more viable for them [to] offer cashback to all customers, whether making a purchase or not.” 


Banco de Mexico to pilot national mobile payments service

Mexico pushes mobile payments to help unbanked consumers ditch cash — Reuters — “Mexico’s new leftist government is betting on financial technology to help lift people out of poverty… It is planning a digital payments system run and built by the central bank that will allow Mexicans to make and receive payments through their smartphones free of charge. A pilot roll-out for the platform, known as CoDi, is expected by March.”