East reports on Apple Pay fraud in Europe

East publishes European fraud update — European Association for Secure Transactions — “Two countries reported mobile wallet fraud in relation to Apple Pay. One reported that mobile wallets are fast becoming the new money mules — fraudsters are enrolling cards that are not yet associated with a specific wallet. Another country reported that fraudsters are obtaining security codes through phishing, with which they can then install a mobile banking app on their own smartphone, using the victim’s data.”


LG to launch ThinQ mobile wallet in the US?

LG applies for ‘ThinQ Wallet’ crypto wallet trademark in the US — Coin Telegraph — “According to the filing documents, the trademark is for services concerning transaction and settlement services, mobile banking, ‘issuance of cyber money’, and ‘payment application software for mobile phones’ among others. ThinQ is a brand first used for a smart refrigerator introduced by the company in 2011 at a consumer electronics show. Since then, multiple smartphones have been launched under the ThinQ brand.”





Analyst: Rise of OEM Pay smartphone wallets to cost banks US$15bn — in Australia alone

$22b of bank revenue at risk from smartphone wallets: Morgan Stanley — The Australian Financial Review — “Smartphone digital wallets offered by Google, Apple and other technology giants will put A$22bn of revenue across the major Australian banks at risk, according to Morgan Stanley… Its analysts came to that figure after looking into how a banks’ payments capability influences decisions relating to other products. This includes transaction accounts that give major banks an opportunity to cross-sell customers more profitable products such as mortgages.”




Apple Pay set to launch in Portugal, Slovakia, Slovenia, Estonia, Greece, and Romania

Apple Pay is coming soon to Austria, Portugal, Slovakia, Slovenia, Estonia, Greece, and Romania — MacRumors — “Mobile banking service N26 today on its Twitter account announced that Apple Pay will soon be available in Estonia, Greece, Portugal, Slovakia, and Slovenia, one day after revealing that Apple Pay is coming soon to Austria. Likewise, ING Bank has announced that Apple Pay is coming soon to Romania… Slovakian bank Slovenská Sporiteľňa confirmed that it will start supporting Apple Pay later this year.”





Banco de Mexico to pilot national mobile payments service

Mexico pushes mobile payments to help unbanked consumers ditch cash — Reuters — “Mexico’s new leftist government is betting on financial technology to help lift people out of poverty… It is planning a digital payments system run and built by the central bank that will allow Mexicans to make and receive payments through their smartphones free of charge. A pilot roll-out for the platform, known as CoDi, is expected by March.”


Barclays to let UK merchants accept payments direct from customers’ bank accounts

Barclays accelerates growth of Pay by Bank app — Barclays — “Pay by Bank app allows shoppers to pay quickly and securely for goods and services on a mobile device, without the need to enter payment details, logins or passwords. Customers simply select the Pay by Bank app option during the checkout process, at which point they log into their existing mobile banking app to seamlessly authorise and complete the purchase.”


Tesco lets customers use Siri to check their bank balance

‘How do you want to check your balance?’ Tesco Bank lets customers use Apple’s Siri to check their balance — Tesco Bank — “Tesco Bank has today announced changes to its mobile banking app, which will enable iPhone customers to check account balances using Apple’s Siri functionality… To use our new Siri feature within the mobile banking app, customers should first ensure the functionality is enabled on their device. Customers can then turn on Siri within the app by visiting the settings menu.”




National Bank of Oman lets customers pay with points at the POS

National Bank of Oman customers can now shop with Nuqati points — Albawaba — “Customers can now use their Nuqati points at a wide selection of shops to buy items ranging from coffee to groceries to electronics… Customers can redeem points online, through the NBO mobile app or in-store. After entering their PIN or tapping their contactless payment cards, customers will have the option of choosing to pay in Omani rials or Nuqati points.”


Dubai bank adds cardless cash withdrawals to mobile banking app

Emirates Islamic launches cardless cash withdrawal feature via its mobile banking app — Zawya — “Customers can now initiate the cash withdrawal from the bank’s mobile banking app and the funds can then be withdrawn from any Emirates Islamic ATM without using a debit or credit card. This innovative service also allows the bank’s customers to make transfers to recipients using only their mobile phone number. Beneficiaries will receive an SMS with a one-time PIN to withdraw the amount transferred from the closest Emirates Islamic ATM.”



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