Visa slashes fee on debit card payments, wants more small merchants on board — Economic Times — “In a note circulated among member banks recently, Visa said it would cut rates on debit card transactions by up to 95%… The largest quantum of decrease will apply to transactions under Rs 2,000 (US$29.57)… ‘Effectively, merchants and banks pay nothing for small value transactions. With this move, it should become more attractive for banks to deploy terminals at small shops and encourage debit card payments,’ said a senior banker.”
Archive for June 2018
HID Global to support rollout of student IDs on iPhone and Apple Watch
Assa Abloy helps enable contactless student IDs in Apple Wallet — HID Global — PARTNER NEWS — “Assa Abloy, the global leader in door opening solutions, today announced the company is working to support mobile access capabilities for student IDs with Apple Wallet… Assa Abloy’s reader technology, combined with embedded HID technology in Assa Abloy locks, will be part of a broader technology solution that unlocks the possibilities for mobile student IDs on university campuses.”
Blackboard to implement student IDs on iPhone and Apple Watch
Blackboard bringing contactless student IDs to Apple Wallet for campuses nationwide — Blackboard — “With Blackboard Mobile Credentials, student credentials in Apple Wallet offer secure access to facilities, residence halls and more, as well as payments for dining, laundry, vending and retail… The ability to add student IDs to Wallet will launch with Duke University, the University of Alabama, and the University of Oklahoma this fall. Johns Hopkins University, Santa Clara University and Temple University will bring the capability by end of year and it will expand to additional campuses in the future.”
Korean credit card issuers to roll out biometric payments at convenience stores
Credit card companies to launch ‘finger vein’ payment system — The Korea Times — “Three major card companies — Shinhan, BC, and Hana Card — announced on Sunday that were developing a biometrics payment system that authorizes transactions by scanning fingertips… The companies said the payment method would be available at convenience store chains across the country in October.”
Starbucks unveils prepaid card that lets customers earn rewards at any Visa merchant
Starbucks and Chase introduce Starbucks Rewards Visa Prepaid Card — Starbucks — “Today, Starbucks and Chase announced the availability of the Starbucks Rewards Visa Prepaid Card, the first prepaid or debit product where you can earn Stars outside of Starbucks.”
Google Pay to go live in Germany this month
Google Pay launches in Germany at the end of June — with Commerzbank — Handelsblatt (translation) — “Google Pay will launch in Germany in late June, Handelsblatt has learned from financial sources… Commerzbank will be a partner in this process, several people familiar with the process report.”
Mastercard adds blockchain card verification patent
Method and system for payment card verification via blockchain — USPTO — “The present disclosure provides a description of systems and methods for the conveyance and receipt of payment credentials to and at a point of sale device through the use of a third party data source. The use of a third party data source enables an individual to transact safely without concern for their payment credentials being skimmed from their payment instrument, or without having to even carry a payment instrument entirely.”
Korean banks to launch blockchain identity platform
Banks plan blockchain ID system — Korea JoongAng Daily — “According to the Korea Federation of Banks (KFB), which represents major commercial banks in Korea, ‘BankSign’, a blockchain-based identity verification program, will officially be launched in July… ‘While BankSign will start off by providing the service in the banking sector, we will work with the government and other public organizations to expand its usage,’ said the KFB spokesperson.”
Mastercard reports on the potential of conversational commerce
Trust, convenience and ease of use will be key to enabling the full potential of voice-assisted conversational commerce, Mastercard explains in a new paper which is now available to download from the NFC World Knowledge Centre... More
NFC World welcomes 120 new members from 43 countries
120 new members from 43 countries joined The NFC World Knowledge Centre in May 2018, bringing our total membership to more than 10,500 executives, technical experts and decision makers at banks, card issuers, mobile network operators, merchants, brands, device makers, regulators and policy makers around the world... More
NXP launches full-service NFC mobile wallet platform for wearable, mobile and IoT device makers
PARTNER NEWS: NXP’s new mWallet 2GO platform offers OEMs a pre-certified and validated turnkey payments solution and is being used by luxury brand Montblanc to add Visa and Mastercard payments capabilities to its watches, via its new Twin smart strap... More
Hyundai demos in-car payments with Chevron, Applebee’s and ParkWhiz
Hyundai and Xevo team up with Chevron, Applebee’s and ParkWhiz to showcase in-car payment at TU-Automotive Detroit — Hyundai Motor America — “With this technology, Hyundai expects to be able to offer customers the ability to: Find and pay for gas at participating Chevron- and Texaco-branded stations; Order and pay for Applebee’s To Go; Find, reserve and pay for parking with ParkWhiz.”
ST offers contactless payments terminal ‘in a box’
PARTNER NEWS: STMicroelectronics has released a contactless payment terminal reference design that can be used to quickly build EMV-compliant POS terminals “by making the exhaustive EMVCo certification process easier and faster than ever before.”... More
Ant Financial to pivot away from Alipay?
Exclusive: Ant Financial shifts focus from finance to tech services: sources — Reuters — “Ant Financial Services Group, the dominant Chinese fintech company, is shifting its main focus to technology services and away from payments and consumer finance as Beijing’s crackdown on financial risk deepens, four sources with knowledge of the matter said… They said the move was propelled, in part, by growing regulatory pressure on Ant’s core financial businesses, including payments, micro lending, credit rating and wealth management.”
Hong Kong metro to add QR codes to turnstiles
Hong Kong to implement QR codes on MTR station, calls for application — e27 — “Under the new system, passengers will be required to pre-generate a QR-based transit code to enter or exit paid areas of the MTR stations, where they will be required to present the QR code. Information collected from the code will be used for journey construction and fare calculation based on travel-first-and-pay-afterwards mechanism.”
McDonald’s to roll out self-service kiosks across the US
McDonald’s to add self-order kiosks to 1,000 stores each quarter — CNBC — “McDonald’s will upgrade 1,000 stores with kiosk and mobile order technology every quarter for the next eight to nine quarters. International markets like Canada, Australia and the UK are already fully integrated with kiosk service and mobile ordering. McDonald’s has also been exploring delivery in the US in an attempt to meet customer demand and changes in how consumers want to get their food.”
Mastercard to build open banking connectivity hub
Mastercard unveils solutions to underpin open banking transformation — Mastercard — “Mastercard announced today that it is developing a new suite of services to underpin the transformation taking place in the industry as partners ready themselves to take advantage of Europe’s PSD2 legislation… They will incorporate a pan-European directory of third party providers to help banks to ensure that parties seeking access to a customer’s account are legitimate… They will also feature a connectivity hub that will help third parties establish and maintain communication with banks.”
Visa targets open banking with $100m investment fund
Visa announces fast track access to its network and $100m investment for European FinTechs — Visa — “The focus will be on supporting startup businesses that are innovating in the arena of open banking and those using emerging technologies that have the potential to create new secure, commerce experiences.”
Apple to add support for campus cards to iPhones and Apple Watch
Students at six US universities will be able to use their iPhone or Apple Watch to replace their student ID card from later this year, Apple has announced at its Worldwide Developers Conference. More
Valitor picks Dejamobile to offer mobile payments and branded mobile wallets to clients
PARTNER NEWS: Payment solutions provider Valitor is to use Dejamobile’s cloud-based payments platform to provide its clients with the ability to add mobile payments and a branded mobile wallet to their services... More