Issuers to adopt common QR code for payments in Singapore from 2018

Common Singapore QR code to be rolled out next year — Channel News Asia — “A common Singapore Quick Response Code (SG QR) will be rolled out and adopted by payment service providers in Singapore next year, the Monetary Authority of Singapore (MAS) said on Monday… Payment services providers in Singapore have also committed to update their mobile payment apps for consumers to read the SG QR. The newly announced NETS QR will be part of SG QR as will other payment service providers such as Singtel Dash QR.”


UK supermarkets to test face recognition for proof-of-age at self-checkout tills

Supermarket self-service tills replace ID checks with facial recognition — The Telegraph — “The technology will be used to remove in-person age checks when customers are buying alcohol and other age restricted items… Using Yoti at a self service till would involve a QR code showing up on the checkout screen, which could be scanned by the app. The Yoti app would then scan the shopper’s face to confirm their identity, and would then connect to the till over the internet to verify the purchase.”


US Bank to use phone location data to authorize transactions

US Bank adds opt-in location services to mobile app, making life on the go more flexible during the holidays — US Bank — “US Bank has added location services to the US Bank Mobile App, offering US Bank Visa credit and debit card customers technology that uses their phones’ location to help verify whether their mobile devices and credit or debit card are in the same location. By using the mobile device’s location in the authorization decision, US Bank can help give consumers the confidence that their transactions will be approved, minimizing disruptions and further reducing the risk of fraud.”


Wells Fargo to offer mobile-first bank accounts

Wells Fargo announces a mobile-first banking experience to encourage financial health — Wells Fargo — “Combining personal finance management tools with Wells Fargo banking, the Greenhouse experience will help consumers pay bills on time, spend confidently, and start to build a savings cushion — all while providing personalized insights through artificial intelligence to help them stay on track. Greenhouse, a standalone mobile app, will be available in a limited, national pilot in the first quarter of 2018 and will launch for Apple iPhone users during the first half of 2018.”


Commbank adds Face ID to mobile banking app

The new face of banking — Commonwealth Bank of Australia — “From today, iPhone X users will be able to use Face ID to securely log in to the CommBank app. ‘Our customers use secure fingerprint logins on the CommBank app about 30m times a month,’ said Pete Steel, Commonwealth Bank executive general manager of digital. ‘Extending that functionality to Face ID is part of our ongoing work to provide a better banking experience to our customers through simple, easy and secure features.'”


Android Pay to let users track all their card purchases?

Android Pay appears to be testing the ability to see all card purchases, even those not done on your phone — 9to5Google — “The Android Pay app appears to be testing out a new feature for ‘full purchase history’. In short, this new feature pulls your entire transaction history from your card and displays it right alongside Android Pay purchases. This new setting on Android Pay appears to only work for specific cards, though. In this first case, it works with an American Express Cash card.”


Taxi hailing app Grab targets Asian mobile payment market

Grab starts mobile wallet service at hawker stalls in Singapore — Bloomberg — “Grab will enable its four million users in the city-state to scan a quick response, or QR, code to pay for local dishes such as chicken rice and prawn noodles at hawker stands around the country. Grab plans to increase the number of small merchants accepting GrabPay from 25 to 1,000 by the end of December… The five-year-old startup plans to roll out mobile wallet services across the region next year, according to co-founder Tan Hooi Ling.”


Indian mobile wallet giant Paytm plans expansion to US, Japan and Europe

India’s top payment app has eyes on US market — Wall Street Journal — “India’s largest mobile payment app — backed by the likes of China’s Alibaba Group Holding Ltd and Japan’s SoftBank Group Corp — has its eye on the US, its founder said. Speaking at The Wall Street Journal’s D.Live Singapore event, Paytm founder and chief executive Vijay Shekhar Sharma said his aim is to expand into developed markets, also including Japan and Europe.”


Bancontact adds NFC payments to mobile app

Bancontact rolls out contactless smartphone payments to the general public — Bancontact — “Belgians already make more than one million payments each month using the Bancontact app. And Bancontact has now also activated its app for contactless payments… You can use any ordinary bank card in the Bancontact app to pay contactlessly. Which means you don’t have to register a special contactless card in the app.”


Google reports 7.5m users of its Tez audio QR mobile payments app

Edited transcript of Alphabet earnings conference call — Yahoo Finance — “To help millions of people, we are building products specifically designed for local markets in Asia. In India last month, we launched Tez, a mobile payments and commerce app that already has more than 7.5 million users who have made more than 30m transactions. I’m really excited about the potential this brings for India’s mostly cash-based economy.”


Amazon Key to let delivery drivers and service providers into homes

Introducing Amazon Key, a new level of delivery convenience for Prime members — Amazon — “Available initially in 37 cities across the United States, Amazon’s innovative new service enables in-home delivery at no extra cost. Amazon Key also allows customers to grant secure home access for guests and, coming soon, tens of thousands of service providers, such as Merry Maids, Rover and professional services from Amazon Home Services. Amazon Key includes the Amazon Key app, a smart lock and the company’s newest device, Amazon Cloud Cam, an intelligent indoor security camera.”


Amazon puts new focus on its Amazon Coins virtual currency

Amazon debuts a new Appstore app with better discovery, focus on Amazon Coins — Techcrunch — “Introduced in 2013, the Amazon Coins platform represents a different means of encouraging consumers to pay for apps and in-app purchases. Instead of seeing a dollar amount associated with their purchase, app developers show the purchase amount as coins… The idea is that the more Coins you purchase, the more you’ll save on the purchase amount. For example, 100 Amazon Coins are worth $100, but when you buy them in larger bundles, they cost less. With the highest package, customers can save up to 22% on their Coin purchases.”



Esso lets UK drivers pay at the pump with their mobile phone

Esso App promises to increase sales by decreasing footfall — Better Retailing — “Esso is rolling out a mobile payments Esso App that allows drivers to pay for their fuel without getting out of their car… The technology works through the existing Epos system, and Esso says it is supporting traders in part funding the £1,000 (US$1,329) cost of installing the system… The technology is “significantly cheaper” than pay at pump terminals, which cost approximately £10,000 (US$13,292) per pump… The Esso App also allows forecourt traders to send tailored promotions to app users on their phones while they fill up.”


Bank of America reports $4bn in P2P payments

A big bank Is catching up to PayPal and Square — Barron’s — “Bank of America released its third quarter earnings on Friday morning and executives spoke confidently about Zelle, the payments platform used by several big banks. The total number of peer-to-peer payments made over the Zelle network by Bank of America customers jumped 68% on a year-over-year basis to 13.6m, and the total payment volume jumped 40% to US$4bn, the bank said. Earlier this year, Bank of America integrated Zelle into its mobile app.”


Nordea and Danske to join Norway’s Vipps mobile payment system

Nordea joins rival DNB’s Vipps payment app in Norway — Reuters — “Top Nordic bank Nordea will start offering rival DNB’s mobile payment app to customers in Norway, leading Danske Bank to shut its service in the country, the companies said on Wednesday… Copenhagen-based Danske Bank said it would no longer offer the Mobilepay service to Norwegian customers, and that it would instead seek a distribution deal with DNB.”


Fitbit Pay goes live in Switzerland

Switzerland becomes first European country to allow Visa payments on Fitbit smartwatch — Telecompaper — “Visa is introducing its mobile payment function for the Fitbit smartwatch in Switzerland, the first European country to get the service… To pay with Fitbit Ionic, the Visa card of a partner card issuer must be loaded into the Fitbit companion application. Currently, this is possible for customers of Cornercard. BonusCard and other banks will follow.”


Poland’s Bank Zachodni WBK adds ticket purchasing to mobile app

A bank will give you entertainment through its banking app — Finanteq — “Today the bank officially launched a new functionality in its mobile banking application — Cultural Events. From now on, if customers would like to go to a concert, cabaret show, theatrical performance or festival all they have to do is open the application and buy a ticket for the selected event. The funds for the payment are transferred directly from customer’s current account.”


Japanese banks to pilot blockchain-based mobile payments service

Fujitsu to conduct blockchain field trial of money transfer service with three major Japanese banks — Fujitsu — “Fujitsu will develop a cloud-based blockchain platform for money transfers between individuals that can be jointly used by these three major banks, as well as a smartphone application that allows users to easily handle the different steps for sending money and for making deposits and withdrawals.”


TD Bank to add AI to mobile banking app

TD announces conversational AI platform agreement with Kasisto — Kasisto — “Through the AI-powered interactive chat interface, TD app users will be able to check account information, review transaction histories and monitor spending levels. In addition, customers will also be able to get instant answers about specific spending-related questions including how much they spent on a recent weekend getaway, what their largest transaction was last week, or what they spent on categories like groceries or coffee last month.”


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