News about Magnetic stripe.
March 24th, 2017
The Wireless Magnetic Communication technology being used for LG’s mobile payment service will allow consumers to pay with their phones in more places without having to change any of the point of sale terminals or re-educate merchants, technology provider Dynamics’ CEO has told NFC World.
March 2nd, 2017
Samsung has begun inviting Galaxy phone owners in India to register for early access to Samsung Pay. Customers can opt to pre-register Axis Bank, HDFC Bank, ICICI Bank and Standard Chartered Bank debit or credit cards and SBI Cards credit cards today with support for American Express and Citibank to follow. Paytm’s market leading mobile wallet will also be supported by the service.
November 30th, 2016
In-store mobile payments accounted for 0.6% of transactions made on Black Friday in the US, research released by payment technologies provider Cayan reveals. California recorded the highest use of mobile payments with 1%, while Wyoming recorded the lowest with 0.05%. EMV cards represented 55% of all Black Friday transactions, while magnetic stripe cards took a 34% share.
July 8th, 2016
Customers who pay using NFC mobile payments are more likely to leave a tip, according to a survey by mobile POS provider Square. 73% of customers tipped when using NFC mobile payments compared to 71% who tipped using EMV and 67% who paid using magnetic stripe cards at the point of sale.
June 15th, 2016
Samsung Pay has launched in Australia with support from American Express and Citibank. The service is available for those with compatible Samsung smartphones, with specific availability varying by local operator.
May 26th, 2016
US startup Spendwallet is raising funds on Indiegogo for an electronic wallet device that can store up to 20 magnetic stripe cards and will let the owner make payments at the point of sale using the company’s self-developed Magnetic Flux Emulation (MFE) technology.
February 19th, 2016
London-based startup Curve has launched a physical payment card that will let consumers store an “unlimited number” of bank cards and make contactless payments at point-of-sale terminals wherever MasterCard cards are accepted.
November 23rd, 2015
US connected device maker Coin is piloting a rewards program that gives users of its EMV-ready electronic magnetic stripe card cashback benefits at retail locations across the Bay Area. “Coin Rewards places cash back directly into the pockets of consumers through gift cards,” Coin says. The company launched its NFC-ready Coin 2.0 in August 2015 and has recorded over 2.5m transactions across 200,000 shipped devices.
November 13th, 2015
Citizens across Barcelona can now use contactless cards, NFC phones and devices such as smartwatches to access the city’s transportation network as well as rent a bicycle at the train station or pay motorway tolls.
October 23rd, 2015
Poynt, the POS maker founded by former Google Wallet lead Osama Bedier, has raised US$28m in a Series B funding round and announced that it has gained PCI PTS, PCI DSS and EMV certification for its device. Poynt Smart Terminals will run the PoyntOS open platform and include support for third party apps as well as mag stripe, EMV, NFC, QR and Bluetooth beacon transactions.
October 1st, 2015
‘The Evolution of Host Card Emulation and Tokenisation’, a 15-page white paper produced by South Korea-based smart card and mobile payment solution provider Kona International, is now available to download from the NFC World Knowledge Centre. The paper provides an overview of the evolution of card payments from magnetic stripe cards to EMV, contactless cards, NFC, host card emulation (HCE) and tokenization and posits that HCE with tokenization will ultimately become “the order of the day” in both the developed and developing world.
September 29th, 2015
PayPal is to introduce its PayPal Here contactless card reader in the US on September 30, following its launch in the UK in August 2015. “The reader works on both iOS and Android platforms and accepts chip card transactions, magnetic stripe and contactless NFC transactions including Apple Pay, Android Pay, Samsung Pay and any other NFC-enabled device or card,” PayPal writes in a blog post.
September 11th, 2015
NFC World’s ‘Ask the Expert: HCE pioneer Doug Yeager’ webinar is now available to view online. 314 people registered to attend the live event and participants gave the presentation an overall rating of 4.2 out…
August 28th, 2015
Credit card processor North American Bancard has introduced a new version of its PayAnywhere mobile credit card reader, which accepts Apple Pay, contactless NFC payments and magnetic stripe credit cards. The device, which is EMV-capable and available for iOS devices, will cost US$39.95, the company says, adding it will offer merchants “$5,000 free in Apple Pay transaction processing with a new PayAnywhere account”.
August 27th, 2015
Connected device maker Coin has released a new version of its electronic magnetic stripe card that is EMV-ready and incorporates NFC, allowing users to store credit and debit cards and make both contactless and swipe payment…
August 11th, 2015
PayPal has launched the new version of its PayPal Here card reader, equipped with contactless, in the UK following its unveiling in March. The reader “accepts contactless transactions payments from Visa, Maestro and MasterCard debit/credit cards along with Apple Pay,” PayPal writes in a blog post. “The new reader is set up to process transactions through chip and pin as well as those taken by swiping the magnetic stripe.”
March 12th, 2015
Square has bought Kili Technology, the Canada-based mPOS startup that acquired NFC-on-microSD pioneer DeviceFidelity in November 2014. Together, says Square, “we’ll continue to lead the way in delivering simple and affordable hardware that gives our sellers a smarter and safer way to do business”.
March 1st, 2015
Samsung Pay, the tokenized mobile payment system introduced with the Samsung Galaxy S6, will first attempt to use NFC and then fall back to magnetic stripe emulation technology to offer widest compatibility with merchant terminals,…
March 1st, 2015
Owners of Samsung’s new Galaxy S6 flagship phone will be able to make mobile payments at merchants equipped with both legacy magnetic stripe card terminals and those with contactless POS terminals, Samsung boss JK Shin…
February 19th, 2015
Samsung Electronics has announced it is to buy LoopPay, the startup that has developed a way for mobile payments to be made at standard magnetic stripe card terminals. LoopPay’s technology is expected to form part…