Goldman Sachs, Apple team up on new credit card — Wall Street Journal — “Apple Inc and Goldman Sachs Group Inc are preparing to launch a new joint credit card, a move that would deepen the technology giant’s push into its customers’ wallets and mark the Wall Street firm’s first foray into plastic. The planned card would carry the Apple Pay brand and could launch early next year.”
Archive for May 2018
Rambus brings tokenization to real-time payments
PARTNER NEWS: Rambus has unveiled Payment Account Tokenization, a new solution that increases the security of direct credit, direct debit and person-to-person (P2P) payments services by replacing account numbers with unique tokens... More
Google Pay adds support for NFC tickets and boarding passes
Google Pay gains support for event tickets and boarding passes — VentureBeat — “Companies that integrate with Google Pay’s API — such as Ticketmaster — can enable their customers to save tickets directly to their phone by hitting the ‘Save to phone’ button after the checkout… Instead of having to open the Google Pay app or scan QR codes, fans will be able to simply hold their phone up to an NFC reader at the check-in to gain admission.”
Google includes biometric prompt API in Android P
What’s new in Android P Beta — Google — “Apps can use the new BiometricPrompt API instead of displaying their own biometric auth dialogs… In addition to supporting fingerprints (including in-display sensors), it also supports face and iris authentication, providing a system-wide consistent experience.”
US consumers are making fewer online purchases on their mobile phones due to ‘cumbersome payment methods’
Forrester: Mobile shopping stalls as payment hinders growth — Mobile Marketer — “Cumbersome payment methods that require too many keystrokes at checkout are impeding the adoption of commerce on mobile, where conversion rates are about half that of desktop and laptop platforms… The percentage of online US sales made on mobile phones dipped from 43% in 2016 to 36% last year… During that same time, ecommerce grew by 14%.”
FNB to roll out biometric ATMs that customers can use to open a bank account
Biometric ATMs extend banking services — IT-Online — “The TouchPoint validates a customer’s identity by scanning a fingerprint placed on the biometric reader and it can detect false fingerprints to prevent fraud. The identity of the customer is then verified with the Department of Home Affairs to ensure the self-service account opening complies with the relevant laws.”
Phoenix reports drop in number of US consumers making use of Apple Pay, Google Pay and Samsung Pay
“Not just Apple Pay, but the two other major third party contactless wallets, Google Pay (formerly Android Pay) and Samsung Pay, are tracing a slow but definite descent in adoption among smartphone owners”, research conducted by Phoenix Marketing International has found... More
Instagram lets merchants take payments from within its app
Instagram quietly launches payments for commerce — Techcrunch — “Instagram just stealthily added a native payments feature to its app for some users. It lets you register a debit or credit card as part of a profile, set up a security pin, then start buying things without ever leaving Instagram… A tap through to the terms of service reveals that Instagram Payments are backed by Facebook’s Payments rules.”
Samsung Pay adds cashback deals ‘from leading retailers’
A more holistic mobile shopping experience with Samsung services — Samsung — “In the new Cash Back section of the Samsung Pay app’s home screen, users will find a range of exclusive offers from leading retailers. When they click on the offer they want and complete a purchase through the participating merchant, the user will receive a percentage back on their purchase which they can then spend toward a purchase — anywhere they use Samsung Pay.”
Google releases SDK for securing applications with TEEs
Introducing Asylo: an open-source framework for confidential computing — Google — “Asylo is an open-source framework and SDK for developing applications that run in trusted execution environments (TEEs)… Previously, developing and running applications in a TEE required specialized knowledge and tools. In addition, implementations have been tied to specific hardware environments. Asylo makes TEEs much more broadly accessible to the developer community, across a range of hardware — both on-premises and in the cloud.”
Shake Shack rolls back its cashless store plans
Shake Shack first quarter 2018 earnings call — Shake Shack — “Some of the things we’ve clearly seen is that our guests do often want to pay with cash. In the first rollout at Astor Place, we did not accept cash at all. And there are people who have told us very clearly, ‘We want to pay with cash’. So in this next phase, we’re going to go ahead and have cashiers as well as kiosks.”
Samsung Pay adds online payments in the UAE
Samsung Pay launches UAE online payments option — Arabian Business — “One year after it was first launched in the UAE, Samsung’s mobile payment service ‘Samsung Pay’ has been made available for online payments. Up until now, the payment service was limited to in-store retail payments, but the new launch will also [allow] users of the service to pay for goods online.”
Microsoft to add payments to Outlook
Conversations become actions in Outlook — Microsoft — “We will soon be introducing payments in Outlook to help users to pay bills or invoices, right in email, without needing to switch to another app or service. Powered by Microsoft Pay, payments in Outlook is a fast and secure way to pay from within email. To start, it will be supported by a number of payment processors including Stripe and Braintree, billing services including Zuora, and invoicing services including FreshBooks, Intuit, Invoice2Go, Sage, Wave, and Xero.”
Deutsche Bank to let airlines collect payments direct from customers’ bank accounts
Deutsche Bank pilots game-changing payments solution with IATA — Deutsche Bank — “Deutsche Bank will collect customer payments directly from consumer accounts in line with the newly revised EU Payments Services Directive, PSD2. Currently, payments are mainly processed via credit and debit transactions… With direct payments being processed and received in near-real time, IATA’s member airlines will benefit from the acceleration of their funds. This will generate significant working capital and liquidity benefits — reducing days sales outstanding and the cost of funding for these airlines.”
White paper sets out how Trusted Execution Environments can be used to secure mobile payments, loyalty, credentials and more
A new white paper that looks in-depth at Trusted Execution Environment (TEE) technology, the architecture and principles underpinning its operation and how it can be used to secure a variety of mobile wallet and IoT applications is now available to download free of charge from the NFC World Knowledge Centre... More
Google Pay begins to roll out on the web
5 ways Google Pay can save you time and money at checkout — Google — “We’re starting to roll out Google Pay on the web from desktop and iOS — which means you’ll start seeing it when you’re shopping on browsers like Chrome, Safari, and Firefox, no matter your device… Once you’ve added a card to Google Pay, you won’t need to enter your payment info again — even when you’re checking out in an app or on a site for the first time. And if you’re checking out on Chrome, Google Pay can automatically fill in your billing, shipping, and payment info, so you don’t have to bother with forms.”
Amazon to offer discounts to merchants that sign up for Amazon Pay
Amazon offers retailers discounts to adopt payment system — Bloomberg — “Amazon.com Inc is offering to pass along the discounts it gets on credit card fees to other retailers if they use its online payments service, according to people with knowledge of the matter, in a new threat to PayPal Holdings Inc and card-issuing banks. The move shows Amazon is willing to sacrifice the profitability of its payments system to spread its use.”
Mastercard CEO: Single buy button to start rolling out at the end of this year
Q1 2018 Mastercard Inc earnings conference call — Mastercard — “I’m a big supporter of the single checkout button. I think it’s transformative for the industry as a whole, for the ecosystem… Somewhere over the course of the latter part of this year, you’ll begin to see the first aspects of this coming out into the marketplace. You’ll probably see a real push in the early part of next year.”
Apple Pay to go live in Norway, Poland and Ukraine as transit ticketing drives consumer adoption
Apple financial results conference call Q2 2018 — Apple — “We believe the availability of Apple Pay at major transit systems have been a key driver of adoption among commuters… Apple Pay is already the most successful mobile transit payment system in Tokyo, which has the busiest transit system of all. With the launch of Brazil in April, Apple Pay is now available in 21 markets and we expect Norway, Poland and Ukraine to launch in the next several months.”
ANZ reports 156% increase in mobile payment volumes
ANZ sees dramatic uptake in digital wallet payments — iTnews — “ANZ Bank customers made almost A$600 million in mobile payments during the first half of fiscal year 2018… Customers completed more than 18.5m mobile payment transactions in the half, an increase of 156% on the previous corresponding period. ANZ said the transactions were made from mobile wallet services from Apple, Samsung, Google, Fitbit and Garmin, as well as the bank’s own Mobile Pay service.”