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    Insurance

    News about Insurance.

    Orange to launch mobile-only bank with NFC payments and AI

    April 21st, 2017

    Mobile network operator Orange is to launch a mobile-only bank in France in July this year that will offer customers NFC mobile payments, P2P mobile transfers using SMS and an artificial intelligence-based virtual assistant that will eventually be able to complete tasks including making transfers and putting funds in savings. More

    Paytm adds insurance to mobile wallet

    March 21st, 2017

    Indian mobile wallet provider Paytm has added an insurance feature to its service that covers users for fraudulent transactions of up to Rs 20,000 (US$306) due to loss of device or unauthorised access to the service. “All Paytm users with balance in their wallets would be automatically covered under this scheme at no additional cost and the lost money would be refunded to their Paytm Wallets,” the company writes in a blog post. Indian mobile wallet FreeCharge also added insurance to its service in December 2015.

    Proxama signs South African EMV deal

    February 7th, 2017

    PARTNER NEWS: Proxama has signed a five-year contract with a “leading South African insurance and financial services provider” for the supply of in-house EMV card issuing, PIN management and card life cycle management. “The customer will benefit from Proxama’s in-depth experience of smart card deployments in South Africa and around the world,” says the company’s Patrick Regester.

    Indians to get mobile wallet insurance

    January 30th, 2017

    Indian mobile wallet providers may soon be required to insure their customers’ money. “The government is mulling over bringing insurance into the segment, on the lines of debit and credit cards,” Business Standard reports. “It has already held three meetings with mobile wallet and insurance companies and hopes to bring in the new regulations to make it mandatory for mobile wallets to insure money. The Ministry of Electronics and Information Technology will soon come out with the rules.”

    Free insurance offer for mobile wallet

    December 20th, 2016

    Indian consumers using the FreeCharge mobile wallet will have their wallet balance of up to Rs 20,000 (US$293) insured free of charge, Economic Times reports, as long as they are making transactions using the service at least once a month, through a partnership with Reliance General Insurance. Customers need to report a phone loss or theft to police and to FreeCharge by phone or email.

    Wirecard to integrate insurance into Boon

    December 5th, 2016

    German payments technology provider Wirecard is to integrate insurance solutions from Credit Life International into its Boon host card emulation (HCE) mobile payments app. “Soon, purchases made by users via the mobile app can also be insured at the touch of a button during the checkout process,” Wirecard says. Boon launched in Germany, the Netherlands and Austria in December 2015. It expanded to Spain and Ireland in the same month, and launched in the UK with Apple Pay support in March 2016.

    USAA Bank adds insurance cards to digital wallet

    November 30th, 2016

    USAA Bank has updated its digital wallet offering to enable users to add their auto insurance card and medical insurance card to the app. “Members can access their proof of insurance, including a printable PDF for insured vehicles,” USAA says. “Members can also access their Medicare insurance information through their digital wallet.” The service also offers support for Apple Pay, Android Pay and Samsung Pay for USAA Visa and American Express debit and credit cardholders. It added biometric authentication in January 2015.

    Samsung Pay adds membership and loyalty cards in the US

    May 19th, 2016

    Samsung Pay users across the US can now add their merchant membership and loyalty cards to the mobile payment service and receive savings, rewards and other offers by having a card’s barcode scanned by the cashier at the point of sale. More

    A third of Europeans have made a mobile payment

    May 4th, 2016

    Nearly a third of European consumers (32%) have now made an in-store mobile payment, research by Fujitsu shows, while 22% have adopted wearable technologies. 44% still use cash every day, 37% would consider leaving their current bank or insurer if they don’t offer up-to-date technology, 47% would let banks or insurers use their data to recommend relevant products and services and 44% want their data used to keep them informed of their spending habits.

    Vein recognition market to grow 27% a year

    October 6th, 2015

    The global vein recognition biometrics market in the banking, financial services and insurance (BFSI) sector is set to grow at a compound annual growth rate (CAGR) of 27.83% from 2014-2019, research firm Technavio predicts. “Vein recognition biometrics is gaining importance in the BFSI sector for applications such as logical access control, physical access control, mobile banking, branch banking, kiosks, ATM and safe deposit locker,” the company adds.

    HID Global aims to cut Medicaid fraud via NFC

    July 8th, 2014

    HID Global has introduced a care worker tracking service that meets Medicaid Electronic Visitor Verification (EVV) requirements. The service uses NFC tags and NFC phones to provide an “indisputable and auditable” record of visits made… More

    True Mileage uses NFC to cut the cost of usage-based vehicle insurance

    June 12th, 2014

    Insurance technology startup True Mileage is to begin pilot testing an NFC-enabled vehicle tracking device that “can save providers up to 50% over the cost of other usage-based devices in the industry”. Drivers install the… More