Friday 24 February 2017 | RSS

 
    Feedback
     

    Archive: News in brief

    India’s Mobikwik aims to triple user base in 2017

    February 23rd, 2017

    Indian mobile wallet MobiKwik is to invest Rs 3bn (US$45m) to triple its user base and raise the total volume of transactions on its platform to $10bn in 2017, The Times of India reports. “MobiKwik said the investment will help it triple its user base to 150m and drive up annual gross merchandise value by year end from the current $2bn,” the report says.

    Consumers show more trust in mobile wallet security

    February 23rd, 2017

    Global consumers are “more concerned” with protecting their financial and payments information on a computer than protecting the same data in a mobile wallet, ACI Worldwide and Aite Group research reveals, with more than 80% believing their mobile wallet data is secure. 75% of the 6,000 consumers across 20 countries surveyed are “very interested” in receiving a call or SMS to help mitigate fraud.

    US banks launch money-transfer app

    February 23rd, 2017

    Nineteen US banks have launched Zelle, the mobile P2P money transfer service unveiled last October to compete with the likes of Venmo, allowing users to send money directly to each other’s bank accounts within minutes. Bank of America says it is the first to incorporate Zelle into its own app, with a standalone Zelle app available later this year for anyone with a debit card.

    UK bank tests voice commands with Google Home

    February 22nd, 2017

    Starling Bank, a UK mobile-only bank, is testing an integration of its API with Google Home, the voice-activated speaker powered by Google Assistant. A video shows a user using voice commands to ask for her balance and spending history, and make a person-to-person payment.

    Visa Token Service to spread across Europe in 2017

    February 22nd, 2017

    The Visa Token Service platform will be available in more than 12 European countries by the end of 2017, Visa has announced. “The technology is already supporting mobile payment schemes in 27 countries worldwide,” the company says, “with more than 1,300 financial institution partners.”

    Bank of China brings Apple Pay to UnionPay credit cards

    February 21st, 2017

    Bank of China has become the first bank in Hong Kong to offer Apple Pay with UnionPay credit cards. BOC UnionPay Dual Currency Credit cardholders can make payments at UnionPay QuickPass terminals in mainland China and Hong Kong. A HK$30 cash (US$4) gift for customers signing up for Apple Pay and promotions for using the service at Pacific Coffee and Sasa outlets are on offer until 20 April 2017.

    Belgian bank to launch HCE mobile payments

    February 21st, 2017

    Customers of Belgium’s Belfius Bank will soon be able to make host card emulation (HCE) based mobile payments using a service integrated with the Belfius Mobile banking app. The service will begin rolling out in May 2017 and is scheduled to be made available to all customers by the end of June 2017.

    Apple and Samsung boost Russian interest in virtual cards

    February 21st, 2017

    The launch of Apple Pay and Samsung Pay in Russia helped to produce a fivefold increase in the number of consumers using online payment service Yandex.Money to pay for goods and services in 2016, Vedemosti reports. The interest generated in the use of virtual cards by the mobile payments services saw turnover increase fourfold and the number of transactions seven times, the publication adds.

    Ant Financial invests in Korea and Philippines

    February 21st, 2017

    Alipay parent company Ant Financial is to invest US$200m in South Korean mobile finance platform Kakao Pay to “expand its online and offline payment coverage”. Ant Financial has also made its first investment in the Philippines, announcing a strategic partnership to “scale up” mobile operator Globe Telecom’s mobile wallet and digital financial service Mynt.

    Swiss region pilots own local blockchain-based cryptocurrency

    February 21st, 2017

    A pilot test of a cryptocurrency based on blockchain technology has taken place in the canton of Ticino, Switzerland. The use of the paperless Ticinocoin is designed to promote the local economy, and will “save many administrative costs [while] every transaction would be transparent, safe and verifiable by all”, says founder Michele Fiscalini.

    ING Direct and Macquarie support Apple Pay in Australia

    February 21st, 2017

    ING Direct and Macquarie Bank are now rolling out support for Apple Pay in Australia, with 47 financial institutions now supporting the mobile payments service in the country. Four of Australia’s largest banks continue to delay offering support for Apple Pay and are pursuing their fight to gain access to the NFC technology within iPhone handsets.

    Apple Pay coming soon to Germany and Italy?

    February 21st, 2017

    Apple Pay could soon be launching in Germany and Italy, after German and Italian language instructions on how to use the mobile payment service were discovered on Apple’s website by Polish website iMagazine. No supporting banks are currently being listed for the launch of Apple Pay in either country.

    Serbian bank launches HCE mobile payments

    February 20th, 2017

    Customers of Kombank in Serbia can now make host card emulation (HCE) based mobile payments through a new feature added to the bank’s mobile banking app. The KOMePay service makes use of technology supplied by mobile wallet provider MeaWallet, which Swedish mobile payment specialist Seamless acquired in July 2016.

    Magazine focuses on Indian demonetisation and mobile money

    February 20th, 2017

    PARTNER NEWS: A 36-page magazine featuring articles about the post-demonetisation era in India and the best practices for enhancing the customer experience of using mobile money is now available to download from the NFC World Knowledge Centre. The latest issue of the quarterly Vritti magazine has been produced and sponsored by Mahindra Comviva and has been approved by the NFC World editorial team.

    Apple buys facial recognition startup

    February 20th, 2017

    Apple has acquired RealFace, an Israel-based facial recognition technology startup, in a deal estimated to be “several million dollars,” Israeli financial website Calcalist reports. RealFace uses deep learning to “detect a wide variety of elements in images and recognize faces of people with a fairly high degree of accuracy”.

    TfL and Barclaycard to extend contactless network

    February 20th, 2017

    Transport for London (TfL) is aiming to extend contactless payments on its network to further areas outside of the capital, after Barclaycard announced it has retained its contract to provide payment processing solutions to TfL for at least another seven years. Some 800m journeys paid for with contactless methods have been made since the network launched in September 2014, with 1.8m now made every day — representing 39% of all pay-as-you-go journeys.

    EMV card shipments grow less than 1% in 2016

    February 20th, 2017

    Global EMV payment card shipments increased by less than 1% year-on-year in 2016, reaching nearly 3bn, ABI Research says. “Between 2012 and 2015, the market became accustomed to annual growth rates in the 20% to 35% range, as first China and then the US began their respective migration programs,” the research firm adds. “But, as overstocking paired with near saturation points hit both countries simultaneously, orders significantly slowed.”

    Google Home owners get voice commands for grocery shopping

    February 17th, 2017

    Owners of the Google Home speaker powered by Google Assistant can now buy groceries using voice commands. “Order from participating Google Express retailers, including Costco, Whole Foods Market, Walgreens, PetSmart, Bed Bath & Beyond and more than 50 other national and locally available retailers,” Google says. “Over the coming months, we’ll add new features and enable purchases for other apps and services.”

    Fashion retailers test smart mirrors for mobile payments

    February 17th, 2017

    Fashion retailers Ralph Lauren and Rebecca Minkoff are testing smart dressing-room mirrors that will soon allow shoppers to “wave their phones in front of the mirror and make a purchase using Apple Pay or Android Pay”, Bloomberg reports. The mirrors from Oak Labs read RFID tags on clothes and display complementary items, and allow customers to adjust the lighting and alert store assistants.

    New iPhone to feature 3D laser facial recognition scanner?

    February 17th, 2017

    Apple’s iPhone 7S, 7S Plus and 8 will come with a 3D laser scanner for facial recognition later this year to replace the Touch ID fingerprint scanner, JPMorgan analyst Rod Hall has told MacRumors. He says the switch to facial recognition will “potentially be more secure than Touch ID, which could increase Apple Pay adoption among banks and merchants”.

    Page 1 of 14512345...102030...Last »