Macquarie open banking APIs let customers share transaction data with third parties

Macquarie to give customers data control with new open banking platform — ZDNet — “Information the new platform can share includes personal banking data such as a customer’s transactions and home loan balances, as well as their business and wealth information. It can be plugged into third-party providers like budgeting apps and accounting software, not just competing financial services providers; however, the third-party provider must meet Macquarie’s open platform standards and security criteria before it will turn over the data.” 


Google’s Tez mobile wallet to be pre-installed on budget smartphones

Google partners with budget smartphone makers for pre-installing Tez in devices — BGR — “At the launch of its payments service for India, Google announced partnerships with budget smartphone manufacturers Micromax, Lava, Xolo and others, to offer the Tez app on a pre-installed basis. Upcoming handsets from the above manufacturers, as well as Nokia and Panasonic, will have Google’s payments app pre-loaded… Google further declared that it was open to more such partnerships.” 


Nike to connect with basketball fans via NFC tags in NBA jerseys

Nike and NBA introduce new statement edition uniform, first on-court hooded jacket and the first NBA Connected Jersey, the future of fan apparel — Nike — “Using new NikeConnect technology, each adult-sized Nike NBA Connected Jersey will have an embedded NFC chip that will launch real-time team and player content such as pregame arrival footage, highlight packages and top players’ favorite music playlists — all on the jersey owner’s mobile device. Throughout the season, a wealth of exclusive offers and experiences will bring fans closer to the game they love.” 


BMW ‘is reviewing the necessity of car keys’

BMW says car keys may be replaced by mobile phone apps — Reuters — “BMW is reviewing the necessity of car keys, Ian Robertson, the company’s board member responsible for sales told Reuters. The fact that customers now all carry a smartphone and the availability of a BMW app which allows customers to unlock their vehicle has made old fashioned keys less relevant.” 


Westpac pulls support for Tap & Pay

Why have we removed Westpac Tap & Pay? — Westpac — “We have removed Westpac Tap & Pay as more customers are choosing to use Android Pay and Samsung Pay for their additional features. We recommend you add your eligible Mastercard or Visa card to Android Pay or Samsung Pay so you can continue to quickly and securely pay with your smartphone at millions of stores worldwide.” 


SocGen picks sound-based payments for mobile banking in Africa

Société Générale launches Yup, a new alternative to the traditional banking model in Africa — Société Générale — “Based on an agency banking model, ie a network of third-party agents with whom the bank has formed partnerships (service stations, distribution trade, etc), Yup is accessible via an expanded network of distributors equipped with adapted terminals and, of course, via the mobile banking app of Société Générale’s different banks throughout Africa.” 


Alipay uses face verification to unlock delivery boxes

Alibaba testing face recognition technology — AsiaOne — “An army of specially equipped kiosks have been installed across five locations at Shanghai’s financial district of Lujiazui, with cameras scanning people’s faces to verify their identities… Users need to subscribe to a service embedded in the Alipay digital wallet, which gives the app the green light to capture their personal information to confirm their identity”. 


Google adopts sound-based payments for Indian mobile wallet

Introducing Tez, a mobile payments and commerce app from Google — Google — “Cash Mode is built using our proprietary AQR (Audio QR) technology, which is similar to QR codes but more convenient and more secure. And unlike NFC, it works on almost any smartphone in India, whether Android or iOS.” 


W3C: All major browser makers ‘now implementing Payment Request API’

Standards for streamlined checkout gain traction — World Wide Web Consortium — “With these technologies, users no longer complete web forms to provide payment credentials, shipping information, and contact information. Instead, the user registers support for different payment methods — such as card payments, proprietary native mobile payments, bitcoin or other distributed ledgers, or credit transfers — with the browser or other user agent.” 


Apple: Developers must offer an alternative to Face ID for children

New App Store guidelines crack down on iOS ‘virus scanners’, require alternatives to Face ID for under-13s — 9to5Mac — “Apple has updated its developer app review guidelines for the iPhone and iPad App Store this week with new clauses addressing the appropriate usage of Face ID, ARKit and more… Developers using the LocalAuthentication framework to enable Face ID unlock (in the same way apps can already use Touch ID authentication) must offer an alternate method of unlock for children under the age of 13 to use.” 


ING doubles charity donations with contactless collection box

No spare change? No excuse! — ING — “From March to July, a three-person team ran a pilot in the Netherlands for the box with 19 charity organisations… Not only was the overall process much quicker, the donor’s behaviour changed. The average donation doubled compared to the traditional cash-based collecting, from €1.50 (US$1.79) to €3.20 (US$3.82).” 


CBA to support Garmin Pay wearable payments in Australia

Commonwealth Bank announces new ways to pay with Android Pay and Garmin Pay — Commonwealth Bank of Australia — “In June this year we saw weekly transactions across the CommBank app hit A$6.1bn (US$4.89bn) so we know customers love using their phones to make payments and do their banking. Since 2013 our customers have been able to use their smartphones to make payments. By offering customers the ability to pay with Android Pay and with their Garmin smartwatches we are combining choice and convenience.” 


Apple to release Face ID security paper

Interview: Apple’s Craig Federighi answers some burning questions about Face ID — Techcrunch — “Federighi also noted on our call that Apple would be releasing a security white paper on Face ID closer to the release of the iPhone X. So if you’re a researcher or security wonk looking for more, he says it will have ‘extreme levels of detail’ about the security of the system.” 



Apple engineering chief answers Face ID queries

Apple’s Face ID feature works with most sunglasses, can be quickly disabled to thwart thieves — Macrumors — “‘If you don’t stare at the phone, it won’t unlock,’ he wrote. ‘Also, if you grip the buttons on both sides of the phone when [you] hand it over, it will temporarily disable Face ID.'” 


Federal Trade Commission to investigate Equifax data breach

FTC probes Equifax, top Democrat likens it to Enron — Reuters — “The US Federal Trade Commission said on Thursday it was investigating Equifax Inc’s massive data breach, and a top Democrat suggested the credit monitoring company’s corporate leaders might need to resign… Senate Democratic leader Chuck Schumer compared Equifax to Enron, the US energy company that filed for bankruptcy in 2001 after revelations of a widespread accounting fraud.” 


US Senator asks Apple CEO to clarify Face ID privacy concerns

Sen Franken presses Apple to address privacy concerns over iPhone X’s ‘Face ID’ technology — Senator Al Franken — “Substantial questions remain about how Face ID will impact iPhone users’ privacy and security, and whether the technology will perform equally well on different groups of people. To offer clarity to the millions of Americans who use your products, I ask that you provide more information on how the company has processed these issues internally, as well as any additional steps that it intends to take to protect its users.” 


More than half of consumers in US, Canada and UK expect to abandon cash in next two years

Consumers to abandon cash by 2020 — Paysafe — “In Canada and the UK, contactless has paved the way for this new era of payments, with three out of five consumers regularly using it for purchases, 62% citing it as more convenient than cash, and 44% stating they preferred to shop in places that take contactless… However, it is America that is very much leading the way in new payment methods with nearly a third (31%) using mobile wallets and one in seven using cryptocurrencies.” 


UBS backs Car eWallet project that lets vehicles make their own payments

Secure payments ‘on the go’ with blockchain technology from ZF, UBS and IBM — IBM — “Auto manufacturers, technology companies, suppliers and mobility service providers are all driving the development of driverless cars. To support autonomous driving, however, these vehicles require a digital agent that can independently carry out tasks and authorize payments without the owner or user having to be active themselves.” 


Venmo moves into merchant payment processing

Venmo will allow users to pay at merchants like Williams-Sonoma — Recode — “Venmo oversaw US$8bn in transactions in Q2 of 2017, double what it did the year before, but has yet to find a way to monetize since the regular service is free. Merchant processing fees from partnerships like Williams-Sonoma would be the first step in making money from transactions… Earlier this year, Venmo started testing a physical debit card in which Venmo customers could use their balance toward purchases at all retailers.” 


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