Microsoft researchers unveil NFC smart mat ‘sensing platform’

Project Zanzibar: Blurring the distinction between the digital and the physical worlds via tangible interaction in a portable implementation — Microsoft Research — “The Project Zanzibar mat combines capacitive sensing and near field communication (NFC) in a novel way, enabling multi-touch and hover gesture input to coexist with physical object manipulation and control. The Project Zanzibar research platform also introduces the power of portability in a tangible user interface because rather than provide its own display, it takes advantage of existing devices such as tablets. Roll it up, stow it and break it out at a picnic or on a train trip.” 


SEC charges founder of former mobile payments unicorn Mozido with fraud

SEC charges fintech company founder with scheme to defraud investors and misappropriate funds — US Securities and Exchange Commission — “The Securities and Exchange Commission has charged Michael Liberty, the founder of the fintech startup now known as Mozido Inc, with a scheme to trick hundreds of investors into investing in his shell companies instead of Mozido. Liberty and his accomplices then allegedly stole most of the more than US$48m raised to fund a lavish lifestyle that included private jet flights, multi-million dollar residences, expensive cars, and movie production ventures.” 


US Secret Service issues ‘chip switch’ card scam warning

Secret Service warns of chip card scheme — Krebs On Security — “The US Secret Service is warning financial institutions about a new scam involving the temporary theft of chip-based debit cards issued to large corporations. In this scheme, the fraudsters intercept new debit cards in the mail and replace the chips on the cards with chips from old cards. When the unsuspecting business receives and activates the modified card, thieves can start draining funds from the account.” 


One in five organizations say they have experienced a payments data theft in the last year

One in five organizations has experienced payments data theft over the past 12 months — ACI Worldwide — “36% of organizations believe they are at a greater risk of data breach than a year ago. 44% agreed with the view that: My company would not invest in fraud solutions that add friction to the customer experience.” 


Dutch supermarket chain opens cashless store

Spar Netherlands opens first cashless store — Retail Systems — “Called ‘Skippen’, or Skipping in English, the new concept enables students who download the accompanying app to purchase goods in-store without having to queue for a cash register. Shoppers simply scan items into their shopping cart via a QR code, before completing the payment with Tikkie — ABN Amro’s online payment solution.” 


Ant Financial seeks US$9bn in new funding

Jack Ma’s Ant Financial to raise $9bn, become world’s biggest unicorn — Wall Street Journal — “Chinese billionaire Jack Ma’s financial technology business is about to vault into the ranks of the world’s most valuable companies. Ant Financial Services Group, carved out of his e-commerce giant Alibaba Group Holding Ltd seven years ago, is preparing to raise US$9bn in a private funding round, according to people familiar with the matter. That ups a previous fundraising target of US$5bn.” 


Central bank fines Alipay for breaching data protection regulations

Alipay is stepping up data protection after PBOC fine — Yicai Global — “Alipay, the fintech platform run by Ant Financial Services Group, is looking to improve its data collection processes after China’s central bank fined it for breaching data protection regulations… Alipay published misleading video campaigns and its collection of personal financial information failed to meet minimum security requirements, the regulator said, adding that the firm also used data inappropriately.” 


Fake QR code payment scammers arrested in China

Chinese market targeted by scammers who set up fake QR codes to divert payments — South China Morning Post — “A food market in China has been targeted by scammers who used fake QR codes to divert mobile payments into their own account… Three men have been arrested on suspicion of printing out small pieces of paper with the QR codes on them and then sticking them over 60 codes used by traders in Nanjing… The three unemployed men — who were only identified by their surnames Zhao, Zhu and Zhang — reportedly told police they had been inspired by a friend who had made money this way.” 


Researchers show how invisible backdoors can be hidden in chips during manufacture

Adding backdoors at the chip level — Schneier on Security — “In this paper we propose an extremely stealthy approach for implementing hardware Trojans below the gate level… we insert our hardware Trojans by changing the dopant polarity of existing transistors. Since the modified circuit appears legitimate on all wiring layers (including all metal and polysilicon), our family of Trojans is resistant to most detection techniques.” 


PayPal expands into mainstream banking

PayPal makes a move toward traditional banking — Wall Street Journal — “The San Jose, Calif-based payments company has been quietly reaching out to groups of customers in recent months with an offer to add basic banking features to their PayPal digital wallet. The features include Federal Deposit Insurance Corp insurance for their balances, a debit card that can be used to withdraw cash at ATMs and the ability to direct-deposit their paychecks.” 


Four in five Americans want to use one platform to manage all their finances

Digital is the new language of money: Americans predict payment apps will move to the top spot in their wallet and would like to manage their financial lives in one place — Koski Research — “Americans predict that apps will be the most common in-person payment type in five years… More than four in five Americans (84%) say they are interested in managing their money from one online central platform for deposits, spending, and saving.” 



Starbucks rolls out voice ordering and payments in Korea

Starbucks Korea debuts voice ordering through Samsung’s Bixby — Starbucks — “Bixby allows My Starbucks Rewards customers in South Korea to place an order and pay through voice recognition ‘on command’. The feature allows customers to speak just as if they were talking to a barista in-store, including modifying their beverage to meet their personal preference… These features are an extension of Starbucks Siren Order, the company’s mobile order and pay technology, which allows customers in South Korea to order and pay for their purchases before arriving at their store.” 


Juniper predicts 2.1bn mobile wallet users in 2019

PayPal leads mobile wallet rankings as users forecast to pass 2bn next year — Juniper Research — “Nearly 2.1 billion consumers worldwide will use a mobile wallet to make a payment or send money in 2019, up by nearly 30% on the 1.6 billion recorded at the end of 2017… The report also argued that while QR code-based in-store payments had seen quite astonishing levels of adoption in China, successful use cases in Europe and North America were likely to be limited to ‘closed loop’ wallets such as those deployed by Starbucks and Walmart.” 


Apple Pay runs Springtime Savings promo with ten leading brands

Latest Apple Pay promo offers 15-30% discounts from Adidas, Boxed, Goat, Headout, Saks Fifth Avenue, more — 9to5Mac — “Apple has been running regular weekly Apple Pay promos for some time now, but this week is offering deals from not just one brand but ten of them. Deals range from free rush shipping to discounts of up to 30%… The offers are applicable when using Apple Pay as your payment method either through the relevant apps, or on the web.” 


China goes live with QR payments spending cap

China caps store mobile payments at $80 — Nikkei Asian Review — “The People’s Bank of China, the country’s central bank, implemented the caps on Sunday for different types of QR code payments, based on relative risk. For payments made by scanning a printed QR code displayed by the seller, the daily limit is set at 500 yuan (about US$80)… Such popular services as Alibaba Group Holding’s Alipay and Tencent Holdings’ WeChat Pay are affected.” 


Apple faces pushback from iPhone users over Apple Pay ‘pestering’

iPhone users are pestered to enroll in Apple Pay — Wall Street Journal — “Apple Inc is nagging iPhone users to enroll in its mobile payment service with a persistent red-circle badge. The strategy has worked with some, but is irritating others who say it is heavy-handed and exploits the tech giant’s clout in ways that could disadvantage rivals… Users who opt not to input credit card information for Apple Pay when setting up their phones now constantly see the red circle over their settings icon.” 


Swedish central bank issues cashless society warning

‘Being cash-free puts us at risk of attack’: Swedes turn against cashlessness — The Guardian — “The Riksbank governor, Stefan Ingves, called for new legislation to secure public control over the payments system, arguing that being able to make and receive payments is a ‘collective good’ like defence, the courts, or public statistics… ‘It should be obvious that Sweden’s preparedness would be weakened if, in a serious crisis or war, we had not decided in advance how households and companies would pay for fuel, supplies and other necessities.’” 


Apple Pay goes live in Brazil

Apple Pay arrives in Brazil, partnering with Itaú Unibanco — Reuters — “Apple Inc’s mobile payment platform Apple Pay arrived in Brazil on Wednesday with an exclusive partnership with Itaú Unibanco Holding SA, the country’s largest private lender. The bank said Apple Pay will be available during the 90-day exclusive period to Itaú’s roughly 1.2 million card holders who also own an iPhone 6 or higher. Under the terms of the partnership, Brazilian retailers such as GPA SA will offer discounts on purchases using Apple Pay.” 


40% more merchants to accept card payments by 2022

Payment card acceptance set to surge by 40% to 85m outlets worldwide by 2022 — RBR — “The number of card-accepting merchant outlets rose by an impressive 7m in 2016 to 61m. Double digit growth was recorded across Asia-Pacific, central and eastern Europe and the Middle East and Africa. Despite recent strong growth, all three regions continue to be underserved in terms of card acceptance and are expected to remain the engines of global growth, driving the total number of outlets worldwide to 85m by 2022.” 


Page 2 of 40512345...Last »