Amazon moves closer to rollout of automated stores

Amazon’s cashierless store is almost ready for prime time — Bloomberg — “For the past year, Amazon employees have been test driving Amazon Go, an experimental convenience store in downtown Seattle. The idea is to let consumers walk in, pick up items and then pay for them without ever standing in line at a cashier… In a sign that the concept is almost ready for prime time, hiring for the Amazon Go team has shifted from the engineers and research scientists needed to perfect the platform to the construction managers and marketers who would build and promote the stores to consumers.”


Canadian banks, carriers and government back blockchain-based digital IDs

Forget iris scans, Canadians to use blockchain for digital IDs — Bloomberg — “Soon Canadians will be able to verify personal information for everything from driver’s licenses to banking using mobile phones and blockchain… Canada’s six largest lenders, including Toronto-Dominion Bank and Royal Bank of Canada invested C$30m (US$24m) in the project. The country’s three main wireless carriers — owned by Rogers Communications Inc, Telus Corp and BCE Inc — are also involved through their EnStream venture, along with a number of provincial governments.”


Walmart Pay to overtake Apple Pay in the US?

Walmart Pay threatens to surpass Apple in US mobile payments — Bloomberg — “Available in 4,774 stores, Walmart Pay is enrolling tens of thousands of new users a day, up from thousands four or five months ago, said Daniel Eckert, who runs the business. Two-thirds of the customers who try it also use it a second time within 21 days, he said, giving him confidence Walmart Pay will surpass Apple Pay in the US in terms of use by shoppers in stores where they’re accepted.”


Visa gives approval to prepaid cryptocurrency card

Visa approves Monaco cryptocurrency card for Singapore residents — Bloomberg — “Visa Inc has approved a prepaid card backed by the cryptocurrency Monaco as the world’s largest payments network continues its foray into digital currencies… Visa has also approved programs for BitPay and Shift Card that allow consumers to convert cryptocurrencies into legal tender and deposit those funds into a bank account that is linked to a Visa debit or prepaid 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.”


Apple cuts Face ID performance to address iPhone X production issues

Inside Apple’s struggle to get the iPhone X to market on time — Bloomberg — “As of early fall, it was clearer than ever that production problems meant Apple Inc wouldn’t have enough iPhone Xs in time for the holidays. The challenge was how to make the sophisticated phone — with advanced features such as facial recognition — in large enough numbers… Apple came up with a solution: It quietly told suppliers they could reduce the accuracy of the face-recognition technology to make it easier to manufacture.”


Barclays CEO: Payments is the battleground of finance

Barclays CEO says bank must protect payments business from Apple, Amazon — Bloomberg — “Barclays Plc will need to defend its advantages in the payments business from encroachment by technology companies including Amazon.com Inc and Apple Inc, according to chief executive officer Jes Staley. ‘There are some tectonic shifts going on, driven by tech and the geopolitical environment… All the banks are very focused on the payments space. That may be where the battleground of finance is fought over the next 15 years.’”


US government to explore new national ID concepts

The White House and Equifax agree: Social security numbers should go — Bloomberg — “The Trump administration is exploring ways to replace the use of Social Security numbers as the main method of assuring people’s identities in the wake of consumer credit agency Equifax Inc’s massive data breach. The administration has called on federal departments and agencies to look into the vulnerabilities of employing the identifier tied to retirement benefits, as well as how to replace the existing system.”


Alibaba challenges Google, Amazon with new Echo-like device

Alibaba challenges Google, Amazon with new Echo-like device — Bloomberg — “Importantly, the gadget — powered by the AliGenie system — may eventually simplify shopping for the Chinese e-commerce giant’s 450 million active buyers who turn to the website for everything from cherries to makeup. It will begin formal sales from August 8 only for China and won’t come with a display.”


Apple tests 3D face scanning to unlock next iPhone

Apple tests 3D face scanning to unlock next iPhone — Bloomberg — “For its redesigned iPhone, set to go on sale later this year, Apple is testing an improved security system that allows users to log in, authenticate payments, and launch secure apps by scanning their face, according to people familiar with the product… The company is also testing eye scanning to augment the system, one of the people said.”


Macau’s ATMs are using facial recognition to help follow the money

Macau’s ATMs are using facial recognition to help follow the money — Bloomberg — “Chinese bettors withdrawing money from some ATMs in Macau need to do more than punch in their PIN code. They also have to stare into a camera for six seconds so facial-recognition software can verify their identity and help monitor transactions… China UnionPay Co’s network is the first to use the software, which will be installed in all the city’s 1,200 cash dispensers.”


Jack Ma’s Ant Financial nearly doubles profits amid deal push

Jack Ma’s Ant Financial nearly doubles profits amid deal push — Bloomberg — “The company controlled by Alibaba’s billionaire co-founder Jack Ma racked up an 86% jump in pretax profit to 5.56 billion yuan ($814 million) in the year ended March, according to Bloomberg’s calculations… Since starting as Alipay in 2004, Ant Financial has grown into an online giant that controls more than half of China’s $5.5 trillion mobile payments market.”








Apple Pay goes live in Japan

Apple Pay is now live in Japan, enabling local iPhone and Apple Watch users to make payments in stores and on public transportation services that support the widely used Sony FeliCa-based Japanese NFC payments system... More



Feed for stories about Bloomberg.

Page 1 of 3123