NFC Forum adds NFC tag certification to certification program — NFC Forum — “Tag/inlay, NFC reader and handset manufacturers for the first time will be able to test and verify the performance and interoperability of all the key components in the NFC ecosystem. Certification will help ensure that NFC tags, readers and handsets provide consistent, compelling and connected user experiences.”
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Students test finger vein payments at UK supermarket
British supermarket offers ‘finger vein’ payment in worldwide first — The Telegraph — “It works by using infrared to scan people’s finger veins and then links this unique biometric map to their bank cards. Customers’ bank details are then stored with payment provider Worldpay, in the same way you can store your card details when shopping online. Shoppers can then turn up to the supermarket with nothing on them but their own hands and use it to make payments in just three seconds.”
Hilton lets customers pay with points for Amazon purchases
Hilton Honors members can now shop with points on Amazon — Hilton — “Members simply need to complete a one-time link of their Hilton Honors account to their Amazon.com account. Once complete, Hilton Honors members can choose the amount of points they wish to use when checking out their purchase at Amazon.com.”
Apple releases iOS 11 with support for NFC tag reading
iOS 11 is now available to download — The Verge — “Today, Apple pushed out the final version of iOS 11, its latest mobile operating system release. Most iPhone and iPad units made in the last few years should be capable of downloading it now if you head over to the Settings panel and check for a software update under the General tab. For those who have been part of either the developer or public beta process, you’ll likely already have the finalized iOS 11 and shouldn’t need to do anything.”
Bank of England examines the technical requirements of central bank-issued digital currencies
Beyond blockchain: What are the technology requirements for a central bank digital currency? — Bank Underground — “What type of technology would you use if you wanted to create a central bank digital currency (CBDC) ie a national currency denominated, electronic, liability of the central bank? It is often assumed that blockchain, or distributed ledger technology (DLT), would be required; but although this could have some benefits (as well as challenges), it may not be necessary.”
Premier Food Service adds rewards to contactless vending machines
Premier Food Service selects USA Technologies as a strategic partner as they move toward connecting 100% of their machines to cashless payment — USA Technologies — PARTNER NEWS — “‘As personalization becomes more common in the marketplace, we wanted to be one step ahead of the trend with customer loyalty and reward programs being at the center of our go-to-market strategy,’ said Gary Kurth, chief operations officer, Premier Food Service… ‘USAT has made it easy for companies like ours to quickly deploy innovative cashless payment technologies across our business so that we can better engage consumers at the point-of-sale and build in customer loyalty programs.’”
UK’s Payment Systems Regulator outlines PSD2 enforcement process
The PSR confirms how it will monitor and enforce new EU rules on access to payment systems — Payment Systems Regulator — “The PSR will monitor and enforce particular rules, covering requests by payment service providers (PSPs) to get access to payment systems. Under these rules, banks and payment system operators must treat the requests in an objective, proportionate and non-discriminatory way.”
Financial Conduct Authority sets out PSD2 requirements for UK payment service providers
FCA finalises revised Payment Services Directive (PSD2) requirements — Financial Conduct Authority — “As well as promoting innovation, PSD2 aims to improve consumer protection, make payments safer and more secure, and drive down the costs of payment services….The FCA has published the PSD2 Policy Statement which explains the changes we are making to our proposals following consultation… The FCA has published its Approach Document alongside this – this is designed to help firms navigate the payment services and e-money regulatory requirements, including those set out in HM Treasury regulations.”
BIS reports on the potential of central bank-issued cryptocurrencies
Central bank cryptocurrencies — Bank for International Settlements — “New cryptocurrencies are emerging almost daily, and many interested parties are wondering whether central banks should issue their own versions. But what might central bank cryptocurrencies (CBCCs) look like and would they be useful? This feature provides a taxonomy of money that identifies two types of CBCC — retail and wholesale — and differentiates them from other forms of central bank money such as cash and reserves. It discusses the different characteristics of CBCCs and compares them with existing payment options.”
Huawei Pay to launch in the US?
Huawei Pay to launch on Android in the US, trademark suggests — Android Headlines — “The Huawei Pay Android service may be coming to the United States, as suggested by a new trademark application which the Chinese original equipment manufacturer submitted to the US Patent and Trademark office on Saturday… News of Huawei’s latest move comes less than a month after the Shenzhen, China-based tech giant filed for an identical trademark in Europe where the European Union Intellectual Property Office is also still examining its request.”
US iPhone users ‘unlikely’ to use Face ID for payments
40% of Apple users to spurn facial recognition, according to Juniper survey — Juniper Research — “A new survey conducted by Juniper Research has found that over 40% of iOS users in the US consider themselves unlikely to use facial recognition as a payment security technology… Contactless payment users considered fingerprint sensors and voice recognition more appealing authentication methods, with 74% and 62% respectively saying they are likely to use these technologies.”
Apple Pay Cash to go live in iOS update ‘this fall’
iOS 11 is available tomorrow — Apple — “Coming this fall with an update to iOS 11 and watchOS 4, Apple Pay users will be able to send and receive money from friends and family quickly, easily and securely. Pay and get paid right in Messages, or tell Siri to pay someone, using the credit and debit cards they have in Wallet. When users get paid, they receive the money in their new Apple Pay Cash card in Apple Wallet and can use the money instantly.”
HSBC uses face recognition to authenticate payments in China
Selfies are the latest way to pay — HSBC — “The customer simply blinks into their camera using the ‘selfie mode’. Their identity is then checked against a photo held on a database. If the pictures match, and the customer enters the correct passcode into their banking app, they can transfer up to RMB50,000 (about US$7,600) a day. Previously, they had to use a token device for authenticating and making transfers.”
Macquarie open banking APIs let customers share transaction data with third parties
Macquarie to give customers data control with new open banking platform — ZDNet — “Information the new platform can share includes personal banking data such as a customer’s transactions and home loan balances, as well as their business and wealth information. It can be plugged into third-party providers like budgeting apps and accounting software, not just competing financial services providers; however, the third-party provider must meet Macquarie’s open platform standards and security criteria before it will turn over the data.”
Google’s Tez mobile wallet to be pre-installed on budget smartphones
Google partners with budget smartphone makers for pre-installing Tez in devices — BGR — “At the launch of its payments service for India, Google announced partnerships with budget smartphone manufacturers Micromax, Lava, Xolo and others, to offer the Tez app on a pre-installed basis. Upcoming handsets from the above manufacturers, as well as Nokia and Panasonic, will have Google’s payments app pre-loaded… Google further declared that it was open to more such partnerships.”
Nike to connect with basketball fans via NFC tags in NBA jerseys
Nike and NBA introduce new statement edition uniform, first on-court hooded jacket and the first NBA Connected Jersey, the future of fan apparel — Nike — “Using new NikeConnect technology, each adult-sized Nike NBA Connected Jersey will have an embedded NFC chip that will launch real-time team and player content such as pregame arrival footage, highlight packages and top players’ favorite music playlists — all on the jersey owner’s mobile device. Throughout the season, a wealth of exclusive offers and experiences will bring fans closer to the game they love.”
BMW ‘is reviewing the necessity of car keys’
BMW says car keys may be replaced by mobile phone apps — Reuters — “BMW is reviewing the necessity of car keys, Ian Robertson, the company’s board member responsible for sales told Reuters. The fact that customers now all carry a smartphone and the availability of a BMW app which allows customers to unlock their vehicle has made old fashioned keys less relevant.”
Westpac pulls support for Tap & Pay
Why have we removed Westpac Tap & Pay? — Westpac — “We have removed Westpac Tap & Pay as more customers are choosing to use Android Pay and Samsung Pay for their additional features. We recommend you add your eligible Mastercard or Visa card to Android Pay or Samsung Pay so you can continue to quickly and securely pay with your smartphone at millions of stores worldwide.”
SocGen picks sound-based payments for mobile banking in Africa
Société Générale launches Yup, a new alternative to the traditional banking model in Africa — Société Générale — “Based on an agency banking model, ie a network of third-party agents with whom the bank has formed partnerships (service stations, distribution trade, etc), Yup is accessible via an expanded network of distributors equipped with adapted terminals and, of course, via the mobile banking app of Société Générale’s different banks throughout Africa.”
Alipay uses face verification to unlock delivery boxes
Alibaba testing face recognition technology — AsiaOne — “An army of specially equipped kiosks have been installed across five locations at Shanghai’s financial district of Lujiazui, with cameras scanning people’s faces to verify their identities… Users need to subscribe to a service embedded in the Alipay digital wallet, which gives the app the green light to capture their personal information to confirm their identity”.