Société Générale and Idemia revolutionize remote account opening — Idemia — “For the first time in France, a bank offers new clients to open accounts remotely without a mandatory transfer, by using Idemia’s facial biometric recognition technology, with a dynamic selfie in order to identify the future client.”
Archive for June 2018
Nordic banks announce KYC joint venture plans
Nordic banks to explore common KYC joint venture — SEB — “Leading Nordic banks DNB Bank, Danske Bank, Nordea Bank, Svenska Handelsbanken and Skandinaviska Enskilda Banken have decided to explore the possible establishment of a Nordic Know Your Customer (KYC) infrastructure… The banks intend to set up a joint venture, Nordic KYC Utility… The company will be owned and controlled by the founding banks, however, the plan is that the company will also offer its services to third parties.”
‘Hardware failure’ to blame for Visa Europe service disruption
Visa service disruption — Visa — “The issue was the result of a hardware failure within one of our European systems… If you attempted a Visa transaction that did not complete as a result of this issue, you should not be charged. A small number of cardholders may have pending transactions that could be limiting their spending ability. We are working with your banks to resolve this.”
Mastercard to pilot cardless ATM withdrawals
It’s app, tap and go at ATMs thanks to Mastercard and Diebold Nixdorf — Mastercard — “Here’s how it works: Consumers open their bank’s app on their smartphone. They use the app to find nearby ATMs, choose the amount they want to withdraw and see the associated fees. Once at the ATM, they quickly snap or tap, often by scanning a QR code, authenticate using optional biometrics on device, and take the dispensed cash.”
India and Singapore link up their national payments networks
PM launches RuPay in Singapore — The Tribune — “The RuPay digital payments system was linked up with Singapore’s 33-year-old Network for Electronic Transfers (Nets). RuPay users will be able to make payments at all Nets acceptance points across Singapore. Holders of Singapore Nets will be able to make online purchases on the National Payments Corporation of India (NPCI) e-commerce merchant website, using 2.8m RuPay point-of-sale terminals in India.”
Italian merchants to pilot PIN-on-mobile payments
Ingenico and Nexi test in Italy an innovative PIN-on-mobile solution compliant with Visa and Mastercard requirements — Ingenico — “With PIN-on-mobile, card owners manually enter their PIN on a non PCI-PTS device owned by a merchant, such as a smartphone or tablet. The transactions are considered as ‘card present’… This solution will be on a six-month trial period and the pilot project will include 1000+ secure card readers (SCR) to read EMV and contactless bank cards.”
TCL picks ST’s NFC controller for Alcatel 3V smartphone
STMicroelectronics’ NFC technology chosen to distinguish TCL Communication’s Alcatel 3V smartphone through outstanding contactless user experience — STMicroelectronics — PARTNER NEWS — “ST’s technology ensures robust connectivity for fast and reliable contactless payments, e-ticket transactions, peer-to-peer data transfer, and emerging use cases including interacting with ‘physical web’ objects like smart posters or store shelves. Superior RF performance also helped TCL Communication to streamline certification to mandatory stringent EMVCo, GSMA and NFC Forum standards for handsets.”
Apple Pay adds ‘order ahead’ support
Apple Pay tests ‘order ahead’ for drinks at music festivals — Techcrunch — “Last week’s BottleRock music festival near San Francisco was the first to try a new “order ahead with Apple Pay” feature that Apple hopes to bring to more events. You just open the festival’s app, select the closest concession stand, choose your drinks, Apple Pay with your face or fingerprint and pick up the beverages at a dedicated window with no queue.”
Meet NFC World’s partners at Money20/20 Europe
NFC World partners Antelop Solutions, Dejamobile, NXP and Rambus will be attending the Money20/20 Europe expo in Amsterdam from June 4-6... More
ABN Amro pilot finds customers prefer making wearable payments
Wearables favourite when paying — ABN Amro — “ABN Amro launched a pilot earlier this year in which 500 clients were asked to make payments using wearables. Of these clients, an impressive 78% now prefer the wearables, and only 19% prefer their debit cards. On average, clients make six payments a week for amounts under 25 euros. ABN Amro is extending the pilot to test new functionalities with this pilot group.”
Hong Kong to be global battlefront for mobile payments?
A payments battle is brewing in Hong Kong — Bloomberg — “Alipay’s azure blue logos began appearing two years ago in Hong Kong’s airport, greeting travelers from China who rely on the popular payments app back home. In recent months, taxis got them. Now stores and boutiques have them. They’re all signs of a battle brewing in Hong Kong that will test whether a Western-style financial system — based on banks, credit and debit cards — can fend off a pair of apps that have come to dominate how people spend and send money throughout China. If Ant Financial’s Alipay and Tencent Holdings Ltd’s WeChat Pay can expand into the city and win new customers there, why not in Europe and the US, too?”
Ant Financial signs technology sharing deals with Chinese banks
Ant Financial to support Shanghai Pudong Development Bank’s digital transformation with financial grade technologies — Ant Financial — “The partnership will allow Ant Financial and SPD Bank to strengthen collaboration on a broad range of inclusive finance initiatives, from improving user experience while using online and offline payment services, to providing secure, convenient and efficient financial services for small and micro businesses… The agreement is the third of its kind announced this month between Ant Financial and established banks, following partnerships with Huaxia Bank and China Everbright Bank.”
Citigroup to use rewards to turn credit card customers into digital bank account holders
Citigroup won’t use high deposit rates to win digital accounts: executive — Reuters — “Citigroup Inc does not plan to use high deposit rates to attract customers to its new digital bank accounts when it begins marketing this fall, the chief of its global consumer bank said on Tuesday… Instead, the bank will market the accounts nationally to its credit card customers, such as holders of its Double Cash card and cards it issues for American Airlines Group, and Costco Wholesale Corp and Home Depot Inc… Bird said, for example, that offering additional American Airlines mileage credits will attract stable deposits to the bank.”
Apple Pay boss explains how it promotes adoption in the US
This woman is fattening the Apple Pay wallet — Fast Company — “We essentially put on an Apple Pay street fair. Local merchants who accept Apple Pay present an offer — maybe a dollar off your ice cream. We bring in food trucks and [feature] fun activities… We’ve also done event-type marketing at music festivals. Last year at BottleRock [a music and wine festival in Napa Valley], we worked with the event organizers to create Apple Pay-only lines. When you go to a concert, the last thing you want is to stand in line to pay for your beer.”