Securing conversational commerce: How to make your interactions with virtual assistants safer — Mastercard — “Voice-based and text-based agents are commonly used for basic informational tasks ranging from performing an internet search, to finding the nearest restaurant and giving simple commands such as making a phone call. But a growing number of people are using this interface for more complex tasks, with 21% of respondents using this technology to shop, pay bills, bank online or send money.”
Archive for January 2018
Apple to let merchants process Apple Pay transactions over iMessage
Apple has announced plans to introduce a new service that will let merchants use its Messages app to chat with Apple users, discuss potential purchases and process payments, all from within the messaging screen... More
PCI publishes specifications for PIN entry on mobile phones and tablets
PCI Security Standards Council publishes security requirements for software-based PIN entry on COTS devices — PCI Security Standards Council — “The PCI Software-Based Pin Entry on Cots (SPoC) standard provides requirements for developing secure solutions that enable EMV contact and contactless transactions with pin entry on the merchant’s consumer device using a secure pin entry application in combination with a Secure Card Reader for Pin (SCRP).”
Egypt’s banks to use common QR code standard for mobile payments
CBE issues standard criteria for accepting electronic payment using QR code — Daily News Egypt — “The Central Bank of Egypt (CBE) has issued electronic acceptance criteria for payments through QR code… These unified standards will apply to all banks licensed to accept payments electronically in Egypt.”
Mastercard to mandate biometric security for online and mobile payments in Europe
Biometric identification must be made available for all Mastercard users by April 2019 — Mastercard — “All consumers will be able to identify themselves with biometrics such as fingerprints or facial recognition, when they shop and pay with Mastercard by April next year… Banks issuing Mastercard-branded cards will have to be able to offer biometric authentication for remote transactions, alongside existing PIN and password verification. It will also apply to all contactless transactions made at terminals with a mobile device.”
Tencent opens up WeChat Pay to overseas credit card holders
WeChat Pay now allows users to bind overseas credit cards — Technode — “Expats living in China and residents of Hong Kong, Macao, and Taiwan — places where WeChat is ambitiously expanding its user base — can now bind and activate WeChat Pay accounts with credit card services provided by MasterCard, Visa, and JCB… This is the first time users are able to use WeChat Pay without having a Chinese bank account or credit card.”
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.”
Shell pilots RFID system that scans all the items in a shopping basket in one go
Supermarket checkout designed to scan entire shopping basket trialled in London — Evening Standard — “Each shopping item has a tiny ‘radio frequency identification’ chip embedded in it… The customer first places their items on a scanning platform, which displays the full list on a screen. They open a smartphone app and tap the device on a reader to deduct payment from an account linked to a card app, such as Apple Pay or Android Pay, and are then emailed a receipt.”
Metro Bank lets customers open an account with a selfie
Bricks and clicks unite: Metro Bank takes the revolution nationwide with launch of current accounts online — Metro Bank — “The use of cutting-edge technology means identification documents, along with a selfie, are uploaded directly onto the application. With verification and authentication taking place in real-time, accounts can be opened in less than 10 minutes, including setting-up internet banking.”
Dutch banks ING and Rabobank begin QR code payments pilot
ING and Rabobank customers can now try out Payconiq — Payconiq — “Payconiq allows their users to simply pay online and in-stores by scanning a QR code. Thanks to a direct connection with the user’s bank account, transactions can be swiftly processed against low costs for the merchants… Consumers can already pay at over 45,000 merchants in Belgium and Luxembourg and soon in Germany where Payconiq has been released earlier this month.”
ABN Amro pulls out of Dutch banks’ mobile payment venture
ABN Amro and Payconiq discontinue collaboration talks — ABN Amro — “ABN Amro and payment service Payconiq have decided to end their talks to explore potential for collaboration… ABN Amro has made strategic choices of its own that impact the way the bank aims to serve its clients’ interests. For example, ABN Amro is further expanding the functionality of its popular payment request app, Tikkie, to retail and business clients.”
Commonwealth Bank introduces chatbot that can answer 200 banking and payments questions
Commonwealth Bank launches chatbot named Ceba — Commonwealth Bank of Australia — “Commonwealth Bank has launched its chatbot Ceba to assist customers with more than 200 banking tasks such as activating their card, checking account balance, making payments, or getting cardless cash… Available 24/7, Ceba can recognise approximately 60,000 different ways customers ask for the 200 banking tasks and will eventually be able to tell customers what they are spending their money on.”
Japanese bank to issue digital currency that cuts transaction costs
Japan’s biggest bank is releasing its own cryptocurrency in March — Investopedia — “The MUFG coin will have parity with the Japanese yen and will be rolled out to employees of the financial services group first. It will enable standard transactions, such as shopping or transfer of money between individuals (for example, splitting of a bill after a meal or drinks), at much lower costs as compared to credit cards.”
Cargo turns Uber cars into convenience stores
How Cargo is helping Uber drivers earn extra cash by selling stuff to passengers — VentureBeat — “Cargo partners with brands across confectionery, electronics, cosmetics, and more to offer riders access to goods such as chocolate bars and USB cables. The company sends a transparent case to drivers, along with the goods, which they place in the vehicle’s front compartment, allowing passengers to see at a glance what’s on offer. The traveler can then make payment using PayPal, Apple Pay, Android Pay, or their credit card through Cargo’s mobile website, using a unique code to ensure payment goes to the right driver.”
Mastercard to add biometric security to online transactions in Europe
Mastercard establishes biometrics as the new normal for safer online shopping — Mastercard — “Consumers will have the capability to use biometrics, such as fingerprints or facial recognition, as a way to identify themselves when they shop and pay with Mastercard as of April 2019… This shift to biometrics is part of Mastercard’s new action plan to help banks, retailers and partners to prevent fraud and improve the consumer experience in the new digital environment. It also meets new regulatory requirements around Strong Customer Authentication set out by PSD2 and is aimed at ensuring a smoother consumer experience and reducing unjustified declines.”
Walmart expands Scan & Go mobile self-checkout pilot to 100 more stores
Why We’re Helping More Customers Scan and Go — Walmart — “The app allows customers to scan and bag items, including produce, while they shop and pay directly with their phones… Once customers are done shopping and have paid for their items, they simply walk through the Mobile Express lane on their way out… Customers see the price of individual items as they scan them along with a running total.”
Dunkin’ Donuts offers faster pickups to customers who order via mobile
Dunkin’ Donuts unveils next generation concept store in Quincy, MA — Dunkin’ Donuts — “An exclusive On-the-Go drive-thru lane lets DD Perks members who order ahead via Dunkin’s mobile app bypass the ordering lane and merge straight into the line for the pickup window… Dunkin’ Donuts has also introduced an area dedicated to mobile pickups, so that members of the DD Perks Rewards program who order ahead via Dunkin’s mobile app can get in and out of the restaurant faster than ever before.”
Visa CEO plots central role in IoT payments
Visa CEO Al Kelly is planning for the day washing machines can make purchases — CNBC — “‘As the internet of things emerges and we see many more connected homes, connected cars and connected offices, you may end up with four, five, six, eight places in your home where you could actually buy from,’ Kelly told CNBC for Fortt Knox… ‘We at Visa are trying to make sure that we work with manufacturers around the world to create an on-ramp to facilitate payments from any of those locations,’ Kelly said. ‘We just want to be in the middle of that.’”
Walt Disney World to pilot cashless resort concept
Walt Disney World to test cashless resort concept at Animal Kingdom Lodge in February — WDW News Today — “Walt Disney World will be testing a cashless environment at Disney’s Animal Kingdom Lodge during a limited pilot program beginning February 12th, 2018. Jambo House at the Resort will be the first location to accept electronic payment only for all purchases and services… Valid forms of payments that will be accepted include MagicBands, credit cards, debit cards, Disney Gift Cards, Disney Rewards Redemption Cards and electronic payments methods such as Apple Pay, Samsung Pay or Google Pay.”
WeChat opens unmanned store in Shanghai
WeChat opens its first unmanned store in Shanghai — ECNS — “Shoppers need to scan a QR code with their WeChat app to enter the store. Sensors at the exit detect the shopper’s selections and automatically charge their WeChat wallet when they go through a ‘payment door’… WeChat payment industry operations director Bai Zhenjie said it takes less than 0.1 seconds for a customer to pay a bill. He added that facial and image recognition technology may be adopted in the store in the future.”