Shinhan to put credit cards on the blockchain

Shinhan Card develops blockchain-based payment system — The Korea Times — “With the patent-winning technology, the card firm has established a blockchain-powered credit transaction process that enables various functions, such as setting a maximum spending limit, paying in monthly installments and completing payments between merchants and consumers… The company is the first in the world to have established a credit transaction service using the new record-keeping technology, it said.”


Merchant payments association calls for 18 month delay on strong customer authentication

EPSM recommends harmonised migration plans on PSD2-SCA — EPSM — “To avoid significant acceptance disruptions, EPSM recommends that all regions should agree an additional timeframe of 18 months for standard applications, as well as up to 36 months for challenging applications, such as those in the travel and hospitality sector. This will deliver an EU-wide harmonised migration approach by the EBA and the 28 national regulators for remote card payments.”


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.”


Federal Reserve reports on synthetic identity payments fraud

Federal Reserve System white paper examines the effects of synthetic identity payments fraud — FedPayments Improvement — “A synthetic identity is created by using a combination of real information (such as a legitimate Social Security number) with fictional information (which can include a made-up name, address or date of birth)… Over time, fraudsters build up the creditworthiness of the synthetic identity, then ‘bust out’ by purchasing high-value goods and services on credit and disappearing.”


Survey: Security tops convenience for UK online payments

Brits care more about online payment security than convenience — Equifax — “Two thirds (66%) of people rate safe and secure payments as most important in the online checkout process, with only one in ten being most concerned about speed or simplicity. Security ranked highest across all age groups, and was a particular concern for over 55s (75%) compared to just over half of 18-24 and 25-34 year olds (52% and 53% respectively).”


Domino’s pilots cashless stores in Australia

Domino’s Is starting to ditch cash payments — Gizmodo Australia — “The pizza maker is calling it ‘Tap & Take’ and is positioning it as a way to make the ordering process both quicker and more convenient… Domino’s has stated that the participating stores will accept ‘all forms of payment’, except for cash. This includes card payments, PayPal, Apple Pay, Android Pay, EFTPOS to door and Instagift.”



Alipay to use ‘beauty filter’ to boost adoption of face payments terminals

Alipay adds a beauty filter to its facial scan payment system to encourage more female users — Radii China — “The move came after Sina Weibo’s tech channel pointed to data that showed male adoption rates of facial scan payments on Alipay were higher than those for females. ‘Be honest, when you’re using the facial payment option, do you think you’re ugly?’ asked the account via a poll. After more than 40,000 people voted, the poll showed that over 60% felt the payment method made them look ugly and ‘not as pretty as when taking a normal photo’.”


Greater Anglia lets train passengers use NFC phones to top up travel cards

Dramatic increase in Smart Card use — Greater Anglia — “We’ve upgraded our Greater Anglia app so that if you have an Android phone, you can hold your Smart Card against it and it will automatically transfer the products you have bought from the website or app, onto your Smart Card… We’ve also enabled staff phones to be able to instantly check the validity of Smart Cards. So passengers can use their card with confidence, and at the same time the systems we have introduced will help to detect and prevent fraud.”


POS terminals that support 23 different QR, contactless and NFC payments services roll out in Singapore

Unified cashless payment system rolled out at 500 hawker stalls across Singapore — The Straits Times — “The solution, provided by Nets, unifies payments from 23 providers, so dining customers can use different cashless payment options at a single payment terminal at a food outlet. This also saves hawkers the hassle of dealing with multiple e-payment firms. These include e-wallets like Singtel Dash and GrabPay, transport cards EZ-Link and Nets FlashPay, and credit cards such as Visa and Mastercard.”




Societe Generale lets cardholders add personalized bank cards to Apple Pay

Societe Generale brings personalized credit and debit cards to Apple Pay — Societe Generale — “Societe Generale offers over 180 personalised physical cards, but this marks the first time customers will see the exact same card as they have in their wallet in Apple Pay. ‘With Apple Pay’s personalisation mirroring our cards’ personalisation, we are demonstrating continuity between our digital and our physical products,’ said Julien Claudon, head of card and digital payment.”


Visa to let merchants offer instalment plans to cardholders

Visa unveils instalment payment capabilities to give shoppers simple and flexible way to pay — Visa — “Visa’s instalment capabilities are changing the game by allowing issuers to leverage an existing payment account consumers already have and are familiar with, instead of asking them to submit to a credit check, download an app or open another line of credit,” said Sam Shrauger, senior vice president, global head of issuer and consumer solutions, Visa. “We expect instalments to become a foundational method of payment at checkout for both domestic and cross-border commerce payment transactions.”



EU offers issuers extra time to implement strong customer authentication

Opinion of the European Banking Authority on the elements of strong customer authentication under PSD2 — European Banking Authority — “In order to avoid unintended negative consequences for some payment service users after 14 September 2019, CAs [national competent authorities] may decide to work with PSPs [payment service providers] and relevant stakeholders, including consumers and merchants, to provide limited additional time to allow issuers to migrate to authentication approaches that are compliant with SCA [strong customer authentication].”


HonkMobile launches app-free Apple Pay NFC payments

woman tapping phone on sign

Parking payments specialist HonkMobile has unveiled a ‘virtual parking meter’ that uses Apple Pay’s new support for NFC tags to let iPhone users tap an NFC sticker to quickly make a payment via Apple Pay — without first needing to download an app or register for a service... More


Apple Card pilot expands to ‘thousands of retail workers’

Apple expands Goldman credit card test to thousands of retail workers — Bloomberg — “The Cupertino, California-based company this week launched an internal beta program for the Apple Card with its retail workers, according to people familiar with the initiative. The move marks the first major trial for the card, which has been used for several weeks by a far smaller set of Apple corporate and Goldman Sachs employees.”


China’s Expresspay Card moves into wearable payments

Exhibition stand with man in front

PARTNER NEWS: Expresspay Card, a joint venture between China UnionPay and Bank of China that offers China’s only open loop prepaid card, has partnered with Tappy Technologies and watch brand Saga Watch to offer cardholders a wearable payments option that will be accepted at any merchant equipped to accept China UnionPay contactless payments... More


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