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.” 


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.” 


Apple Pay goes live in Saudi Arabia and Czech Republic

Apple Pay rolling out in Czech Republic and Saudi Arabia — MacRumors — “In Czech Republic, users have so far reported successfully adding cards to their mobile wallets from Air Bank, Moneta Money Bank, Ceska Sporitelna, and payments company Twisto. .. In Saudi Arabia, Apple’s regional Apple Pay website has gone live and lists Visa and Mastercard support for Al Rajhi Bank, NCB, Mada, Riyad Bank, Alinma Bank, and Bank Aljazira.” 


Apple Pay to go live in Saudi Arabia this week?

Apple Pay said to be coming to Saudi Arabia this week — Arabian Business — “Advertisements from Saudi Arabia-based Al Rajhi Bank noted that Apple Pay will launch in the kingdom on February 19 — the same day that it has been rumoured that the service will launch in the Czech Republic. In October, Apple said that Apply Pay was ‘coming soon’ to Saudi Arabia.” 


Visa reports 80% drop in card-present fraud at US chip-enabled merchants

Chip technology helped reduce counterfeit fraud by 80% — Visa — “Since the EMV shift, the adoption of chip technology has reduced card present (CP) counterfeit payment fraud by 80% at chip-enabled merchants… Over 3.1m merchant locations are now accepting chip cards… 98% of overall US payment volume in December was on EMV cards.” 


Barclays to let UK merchants accept payments direct from customers’ bank accounts

Barclays accelerates growth of Pay by Bank app — Barclays — “Pay by Bank app allows shoppers to pay quickly and securely for goods and services on a mobile device, without the need to enter payment details, logins or passwords. Customers simply select the Pay by Bank app option during the checkout process, at which point they log into their existing mobile banking app to seamlessly authorise and complete the purchase.” 


MUFG teams up with Akamai to launch blockchain payments network

MUFG and Akamai to launch Global Open Network Inc joint venture — Mitsubishi UFJ Financial Group — “The new company will utilize MUFG’s presence in the payment business and Akamai’s intelligent edge platform, which offers world-class speed and security, with the aim of providing an open payment network in Japan based on new blockchain technology by the first half of 2020.” 


CaixaBank rolls out facial recognition ATMs

CaixaBank, the world’s first bank to use facial recognition to withdraw cash at ATMs — CaixaBank — “CaixaBank has become the world’s first financial institution to offer its customers the ability to use facial recognition to withdraw cash from ATMs, without having to enter their PIN… CaixaBank now has this verification system in place in four Store branches in Barcelona, with a total of 20 terminals. The company plans to progressively expand facial recognition across its Store offices from the second half of 2019.” 


JP Morgan to launch its own cryptocurrency

JP Morgan is rolling out the first US bank-backed cryptocurrency to transform payments business — CNBC — “Each JPM Coin is redeemable for a single US dollar, so its value shouldn’t fluctuate, similar in concept to so-called stablecoins. Clients will be issued the coins after depositing dollars at the bank; after using the tokens for a payment or security purchase on the blockchain, the bank destroys the coins and gives clients back a commensurate number of dollars.”