Singapore to add mobile options to contactless transit payments trial

Parliament: Cashless trial for public transport to be extended to more payment types from next year — The Straits Times — “A trial system that allows commuters to pay their public transport fares using contactless credit or debit cards will be extended to more payment types including Visa and Nets 2.0 from next June (2018). Mobile payment modes — such as Android Pay, Apple Pay and Samsung Pay — will also be available from the first quarter of next year as part of the trial.”




Bitcoin debit cards halt service to non-European residents due to Visa’s new rules

Bitcoin debit cards halt service to non-European residents due to Visa’s new rules — Bitcoin.com — “Four bitcoin Visa debit cards are suspending service to non-European residents due to Visa’s new licensing restrictions. BTCC and Bitwala have joined Xapo and Shakepay to stop debit card service to users who reside outside of the Visa European payment network… The new Visa rules went into effect on August 21.”




Visa moves to kill PINs by pushing Aussie banks towards biometric authentication

Visa moves to kill PINs by pushing Aussie banks towards biometric authentication — The Australian Financial Review — “A new Visa security roadmap outlines a four-year process for Australian banks to adopt new standards for e-commerce transactions, designed to streamline the purchasing process and reduce fraud, while implementing new information-sharing practices and tokenization technology.”



Big banks on notice that they’re losing ground to China’s fintech giants

Big banks on notice that they’re losing ground to China’s fintech giants — South China Morning Post — “Tencent, the Chinese company, over Chinese New Year, in five days processed 46 billion payments. Basically that means 800 million payments per hour. Visa has a maximum capacity of processing 25,000 payments per second. But Alipay can process 50,000 payments, twice as much, per second.”


Visa chasing Indian payments market as mobile money gains traction

Visa chasing Indian payments market as mobile money gains traction — Developing Telecoms — “Visa CEO Alfred Kelly has affirmed the company’s goal to claim a ‘fair share’ of India’s incipient cashless payment market by offering low cost, low hassle solutions to merchants… ‘Because it’s an exciting market and a lot is going on, there’s a number of players trying to get into the market,’ said Kelly. ‘We clearly have to have a way that’s low cost, low hassle, low friction to enable merchants to sign up.’”


Bank of America and PayPal partner to enable in-store payments and account linking

Bank of America and PayPal partner to enable in-store payments and account linking — Bank of America — “Bank of America will partner with PayPal to tokenize Bank of America cards for customers wishing to use PayPal for in-store purchases, across MasterCard and Visa portfolios in the US. This will support PayPal’s forthcoming NFC mobile wallet experience to enable in-store tap-to-pay purchases and reflects Bank of America’s open wallet strategy.”


BBVA brings Android Pay to Spain

BBVA brings Android Pay to Spain — BBVA – “BBVA and Google today announced the launch of Android Pay in Spain. This payment system will allow BBVA customers to use their Visa and Mastercard cards in order to pay with their mobile phones. Android Pay will be operational in the more than one million businesses in Spain with contactless technology.”



Visa and PayPal extend partnership to Europe

Visa and PayPal extend partnership to Europe — Visa — “The European partnership agreement makes it easier for financial institutions to offer their Visa account holders the ability to checkout anywhere PayPal is accepted online… It will also expand the acceptance of PayPal by European businesses that accept Visa in physical locations, providing growth opportunities for Visa, PayPal and their customers.”


Mastercard and Visa lose share to UnionPay in global cards market

Mastercard and Visa lose share to UnionPay in global cards market — RBR — “The continued rapid expansion of the Chinese cards market has helped UnionPay to increase its share of cards to 43% in 2016, and extend its lead over Visa and Mastercard. UnionPay has been the largest scheme globally for card numbers since 2010 and, by the end of 2016, there were more than six billion UnionPay branded cards in circulation.”



EMVCo-specified universal QR code to be introduced in 4Q17

EMVCo-specified universal QR code to be introduced in 4Q17 — Digitimes — “EMVCo is specifying a universal QR code to facilitate tokenized mobile payments, and the global standard QR code is expected to be introduced to the Taiwan market in the fourth quarter of 2017, with prevailing use to kick off by the end of 2018 at the earliest, according to Visa Taiwan country manager Macro Ma.”



Transfer money instantly to your bank account with PayPal

Transfer money instantly to your bank account with PayPal — PayPal — “PayPal users in the U.S. will soon be able to instantly transfer money to their bank accounts via eligible debit cards linked to their PayPal account… Our beta of this is now available to select PayPal users and will be made available to all U.S. PayPal users with eligible Visa or Mastercard debit cards over the coming weeks and months.”


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