Challenger banks add location-based payments to mobile apps

UK banks are trying out location-based P2P payments — Tearsheet — “On Friday, Revolut introduced a feature called ‘Near Me’ which lets its customers find other Revolut customers using the same feature and send them money without knowing their contact details. On Monday, Monzo rolled out a capability called ‘Nearby Friends’… When the user opens Nearby Friends, Monzo generates a token representing the user through its API, which is then sent to Google Nearby through Bluetooth on the user’s device to ‘broadcast’ it to other Monzo apps within a 90-foot radius.”


Radius Bank lets customers add location-based transaction restrictions

Radius Bank launches innovative card control app to give customers greater financial peace of mind — Radius Bank — “The Radius Card app provides a number of money management benefits, including: On/off switch allows customers to quickly turn off their debit card should it become misplaced and back on again once it has been recovered; Location-based restrictions prevent transactions outside a specific area determined by the user; Real-time alerts whenever the card is used or when a transaction has been attempted and declined; Spending caps and activity limits to help users budget expenses better.”


Mastercard and Here to create in-vehicle services that combine payments and mapping

Mastercard and Here power ride towards a more connected world — Mastercard — “This partnership comes as people look to take advantage of new technologies to make purchases from the convenience of their car’s dashboard and interact with destinations in real-time… Besides further advancing connected vehicle payments, additional use cases that may be explored include mobility-as-a-service (MaaS), demand management and location-based offerings.”


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.”





European consortium to develop pan-industry online identity platform

Master key ID platform

A group of German and other European companies including banks, vehicle manufacturers and technology providers have signed a “corresponding declaration of intent” to establish a joint, pan-industry platform that will let their customers use a “so-called master key” for registration and identification when accessing online services across a range of sectors including government, aviation and retail. More







Bluetooth 5 to increase capacity for advertising

Bluetooth SIG

The Bluetooth Special Interest Group (SIG) is working to finalise the next Bluetooth release which will add “significantly more capacity” for advertising transmissions, meaning that longer messages can be communicated through Bluetooth Low Energy (BLE) beacons, the organisation says... More






Google pilots hands-free payments in San Francisco

Google Hands Free

Shoppers in San Francisco’s South Bay area are being invited to take part in a pilot test of Hands Free, a payment service developed by Google that uses a combination of Bluetooth Low Energy (BLE), Wi-Fi and location services to let consumers make in-store payments without taking their mobile phone out of their pocket. More



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