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    Archive: News in brief

    Brits foresee cashless society by 2036

    June 21st, 2016

    More than two thirds of UK consumers (68%) believe that cashless technologies will completely replace physical money by 2036, research released by the Mayor of London’s promotional company London & Partners reveals. The figure is higher in London, where three quarters of people believe cash will disappear within 20 years. The research is based on 2,000 respondents and has been released to coincide with London Technology Week, hosted by London & Partners and MasterCard.

    Visa seals deal on Visa Europe acquisition

    June 21st, 2016

    Visa has completed its acquisition of Visa Europe. “The combined, global company provides digital payment products, services and processing to about 17,100 financial institution clients and partners, more than 40m merchant outlets and 3bn Visa accounts worldwide,” the payment network says. “Visa-branded cards and payment products enable approximately US$6.8trn in global payments volume annually.”

    Alipay parent company seeks expansion overseas

    June 20th, 2016

    Alipay parent company Ant Financial is seeking to buy a 20% stake in Thai online payment provider Ascend Money and to increase its stake to 30% at a later date. “Ascend’s subsidiaries include True Money, an online payment service provider, and Ascend Nano, a licensed financial services provider,” Reuters reports. “Ant Financial, whose Alipay payment platform dominates the online payments industry in China, is looking to expand its presence overseas.”

    Thai banks to launch P2P payments with PromptPay

    June 20th, 2016

    Fifteen commercial banks and four specialised financial institutions in Thailand are to begin registration for PromptPay, a mobile P2P service developed by Bank of Thailand (BOT) and the Thai Bankers’ Association. “With this new money transfer service, transferees simply need to link their national ID or mobile phone numbers to their accounts for successful transactions,” BOT says. “All banks confirmed their readiness for the official launch of public registration nationwide from July 15, 2016.”

    Bank of America enables Apple Pay and Samsung Pay at ATMs

    June 20th, 2016

    Apple Pay and Samsung Pay can now be used to make withdrawals and transfers at Bank of America ATMs, according to a user on Reddit. “This does not work for deposits, which is weird since you would think withdrawals pose a greater risk for the bank than deposits,” the user writes. Bank of America added support for Android Pay at its ATMs in May when it also announced that the ATMs are capable of working with any NFC mobile wallet.

    Mobile payments to grow 42% in 2016

    June 20th, 2016

    Mobile payment transaction volume will grow by 42% to reach 26.9m in 2016, up from 18.9m in 2015, research from Future Market Insights predicts. “In terms of value, this will represent nearly US$768.78bn, up from $549.91bn in 2015,” the firm says. “Payments made through NFC, widely touted as the technology of the future, will witness the highest year-over-year growth rate, increasing at over 59% in 2016.”

    LG U+ to launch biometric authentication platform

    June 20th, 2016

    LG U+ is to release a new service in August that uses biometric authentication for mobile shopping and banking transactions based on the storage of “personal biometric information in universal subscriber identity modules (USIMs),” according to Business Korea. “The platform is to be used for combination of users’ biometric information, such as fingerprint data and iris data, with the mobile carrier’s subscriber and billing information so that one-stop authentication can become possible,” the publication reports. The service will make use of Fido standards.

    Walmart Pay heads to Alabama and Georgia

    June 20th, 2016

    US supermarket giant Walmart is rolling out its Walmart Pay QR code-based mobile payment service to Alabama and Georgia following its launch in Arkansas and Texas last month. The roll out will take Walmart Pay to an additional 120 stores in Alabama and 180 stores in Georgia. Walmart unveiled the mobile payment service in December 2015 and it went live for iPhone users in April 2016.

    Samsung Pay launches in Singapore

    June 17th, 2016

    Samsung Pay has gone live in Singapore, enabling customers of Citibank Singapore, DBS Bank Singapore, POSB Bank Singapore, OCBC Bank and Standard Chartered to make mobile payments with their compatible smartphone wherever MasterCard or Visa is accepted. The mobile payments service launched in Australia on June 15 and plans to roll out Samsung Pay in Singapore on June 16 were revealed last week.

    Swatch to take NFC to Switzerland with OT

    June 16th, 2016

    Swiss luxury watchmaker Swatch has partnered with Oberthur Technologies (OT) to provide NFC payments to customers in Switzerland through its Swatch Bellamy watch range. “OT’s FlyBuy SE (secure element) is fully integrated within Swatch Bellamy watches and provides a high level of security while enabling seamless payments and transactions,” says OT. Swatch Bellamy is expected to launch in Switzerland this month.

    JPMorgan Chase joins ClearXChange

    June 16th, 2016

    JPMorgan Chase has joined its US rivals in letting its customers transfer money in real time between financial institutions signed up to bank-led digital payments network ClearXChange. “JPMorgan, whose Chase QuickPay product handled US$20bn in P2P transfers last year, began offering the service Sunday after customers requested it,” Bloomberg reports. ClearXChange was made available to all member financial institutions in June 2015.

    Kerv and PSI-Pay to prep for NFC payments ring launch

    June 16th, 2016

    The UK startup behind the Kerv NFC payments ring has teamed up with payment solutions provider PSI-Pay to enable a greater range of payment options on the device. “The partnership utilises PSI-Pay’s MasterCard licence which will enable users of the Kerv contactless payment ring to pay in 38m locations worldwide,” Kerv says. “Users will be able to fund their account via debit or credit card, bank transfer or PayPal.” Kerv launched a fundraising campaign on Kickstarter in October 2015.

    Samsung Pay to expand across Asia Pacific with Citi

    June 16th, 2016

    Samsung is extending its global collaboration with Citi to deliver Samsung Pay within the Asia Pacific region, specifically in Singapore and Australia. “The partnership marks a new addition to Samsung Pay’s extensive portfolio of major payment networks and banks,” Samsung says. “Further additional markets will be added to the network in the coming months.” Samsung Pay launched in Australia earlier this week and began rolling out across Singapore this month.

    More than 200 products are now Fido certified

    June 16th, 2016

    More than 200 products from global technology leaders are now Fido certified, the Fido Alliance has revealed. “This represents a 100% increase since the start of 2016,” the organisation says. “These latest certifications include the first Fido certified products that support Bluetooth for wireless strong authentication.” Fido was launched in 2013 as an open security authentication concept to replace passwords with a range of methods such as biometrics. Support for Bluetooth Low Energy (BLE) and NFC was added in July 2015.

    Gemalto blog explores potential of NFC wearables at sporting events

    June 16th, 2016

    PARTNER NEWS: A new blog post from digital security giant Gemalto explores the role of NFC-enabled wearables at sporting events and their potential to banish so-called “paper ticket syndrome”. The company is supplying its Celego contactless wristbands for travel and payments across the French city of Lille during Euro 2016 as well as helping Visa in supplying NFC payment rings for Olympians at the Rio 2016 Olympic and Paralympic Games. Case studies about other Gemalto deployments can be found here.

    Visa certifies Worldline for in-house cloud-based payments

    June 16th, 2016

    Payment processor Worldline has received end-to-end Visa certification to run its cloud-based payments solution in-house. “This solution enables issuers to provide their clients with Visa PayWave on their Android mobile NFC phones with embedded host card emulation (HCE) technology,” Worldline says. “These highly secured transactions will be accepted on all Visa enabled contactless terminals around the world.”

    American Express speeds up EMV checkout

    June 15th, 2016

    American Express has unveiled Amex Quick Chip, a technology that enables merchants to provide cardmembers with a “more seamless” experience when paying with their EMV chip cards at the point of sale. “With Amex Quick Chip, cardmembers can dip their card during the checkout process and remove it before the transaction is completed,” American Express says. “Amex Quick Chip is available to merchant processors which may deploy the service to interested US merchants through a software update.” Visa unveiled a similar service in April 2016, closely followed by MasterCard.

    Orange Cash to offer Apple Pay in France

    June 15th, 2016

    Apple Pay will be offered to Orange Cash customers in France when the mobile payment service launches in the country in the coming months. “More than 200,000 Orange customers have already used Orange Cash,” Orange says. “Enabling Apple Pay will allow Orange to offer this service to many new customers and provide an innovative and secure solution.” Orange Cash was unveiled by Orange and Visa in November 2013 and went live in February 2014.

    Shopify to support Apple Pay online payments

    June 15th, 2016

    Merchants with online stores powered by ecommerce platform Shopify will be able to accept Apple Pay for online payments in every country at no extra cost. “You can enable Apple Pay if you’re using Shopify Payments or these other payment gateways — Stripe, Braintree, FirstData, Payeezy, Authorize.Net or CyberSource,” Shopify says. “To activate, simply go to your payment settings in Shopify and click Activate under the Apple Pay section.” Apple announced its plans to take Apple Pay to the web at WWDC earlier this week.

    DBS Hong Kong prepping Apple Pay support

    June 14th, 2016

    DBS Hong Kong will bring its customers Apple Pay when it launches in the territory this summer. “We are excited to be one of the first in Hong Kong to support Apple Pay for a best-in-class mobile payment experience for our customers,” says the bank’s Ken Chew. Apple announced it will be launching the mobile payment service in Switzerland, France and Hong Kong at the company’s WWDC event earlier this week.

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