Apple Pay makes up 77% of mobile payments among debit card users — Auriemma Consulting Group — “An Auriemma study of debit card issuers shows that Apple Pay makes up 77% of mobile wallet transactions. Samsung Pay and Google Pay, Apple Pay’s main competitors, make up 17% and 6% of transactions, respectively… While Apple Pay has the most market share, Samsung Pay users are the most engaged. In fact, the average Samsung Pay user makes 7.3 transactions each month, compared to 5.5 transactions for Apple Pay and Google Pay users.”
Archive for October 2018
Japanese banks launch blockchain P2P payments service
SBI Ripple Asia’s MoneyTap app has launched in Japan — Coindesk — “The product allows users to send funds to others using just their telephone numbers or a QR code, and utilizes devices’ biometric log-in features, such as fingerprint scanning, for security… Currently, the service is only able to remit between accounts held at the three participating Japanese banks — SBI Sumishin Net Bank, Suruga Bank and Resona Bank. Payments are being offered at no charge and can be sent in Japanese yen or foreign currencies.”
Federal Reserve proposes new settlement system for faster US payments
The Fed proposes an always-on settlement system for faster payments — Digital Transactions — “The new proposal has two major facets. One outlines the RTGS plan for settlement of payments every day at all times. The other involves a so-called liquidity tool the Fed says could increase banks’ participation in a real-time system by limiting exposure that can arise outside of business hours. The general idea behind both is to reduce the risk from providing funds to payment recipients before settlement has actually occurred.”
Forecast: One in two payment cards shipped in 2018 will be contactless
Contactless payment cards forecast to account for over 50% of all cards delivered globally in 2018 — ABI Research — “Contactless payment card issuance is set to hit 1.5bn units in 2018, accounting for over 50% of all payment card shipments delivered globally… Breaking the 50% barrier marks a significant milestone in contactless card migration, where market momentum is expected to continue due to next-generation migration opportunities, most notably in the US, India, South East Asia, and Latin America. These opportunities are helping to push contactless card issuance volumes toward 2.3bn annually by 2022.”
Korean retailer pilots unmanned convenience store that uses face recognition for entry and payments
GS25 brings facial recognition to new shop — Korea JoongAng Daily — “Most convenience stores without a human cashier use barcodes to identify the products. GS25’s new system instead identifies an item by its packaging and weight. This allows customers to simply place items on the table before paying using facial recognition or a credit card. The company says it takes only about a second for the system to recognize five items at once, whereas with the conventional barcode system it would take 15 seconds to scan them one by one.”
Danske Bank begins wearable payments pilot
Danske Bank testing new wearable payment solution — Danske Bank — “FastPay is Danske Bank’s new payment solution that lets you wear your payment chip in a wristband, on a keyring or on your watchstrap so that you can make contactless payments without having to reach for your card.”
Asian carriers begin rollout of cross-border mobile payments service
Singtel and AIS debut Via, Asia’s first cross-border mobile payment alliance — Singtel — “The Via alliance is the first initiative of its kind to connect both telco and non-telco mobile wallets across borders to create a region-wide payment network that will enable consumers to use their local mobile wallets when travelling. The Singtel Group will progressively expand this alliance to include other regional associates Airtel in India, Globe in the Philippines, Telkomsel in Indonesia, working within each country’s regulations, and non-telcos including China’s Ping An eWallet.”
NFC Forum white paper explains how brands and retailers can use NFC to build stronger connections with consumers
NFC technology can be used by both brands and retailers to forge and strengthen a connection with consumers throughout the customer journey, the NFC Forum explains in a new white paper that provides detailed tips, ideas and guidance on how to take advantage of the technology’s potential... More
Apple goes live with NFC student IDs at three universities
Apple adds support for contactless student ID cards in Wallet — Apple — “Starting today, students at three universities are among the first to enjoy the convenience of using just their iPhone and Apple Watch to get around on and off campus. At Duke University and the Universities of Alabama and Oklahoma, students can now add their ID card to Apple Wallet and use it to pay quickly and easily for laundry, coffee or lunch, and even get into their dorms, the gym or the school library… Johns Hopkins, Santa Clara and Temple universities will bring the capability by the end of this school year.”
Slikhaar adds NFC tags to mens’ hair products
Thinfilm customer Slikhaar to launch interactive products in beauty and personal care market — Thinfilm — “Shoppers and existing customers will be able to touch their smartphone to the connected products — either in-store, at home, or on the go — to instantly join the Slikhaar community, view hairstyling videos, watch product tutorials, learn about the latest fashion trends, share content via social, and make online purchases.”
ST adds NFC chips that can control lighting products, motorized appliances, fans, thermostats and more
PARTNER NEWS: STMicroelectronics has introduced a new range of dynamic tag chips that combine NFC technology with pulse width modulation (PWM) logic to enable a wide range of appliances to be set up or fine tuned at home, in the field or in the factory using either an NFC phone or an ISO 15693 RFID reader... More
M&S rolls out mobile self-checkout in London food stores
M&S rolls out checkout free checkout as part of digital first strategy — Marks & Spencer — “M&S has today announced the launch of its scan and pay service, Mobile, Pay, Go, which will be available for customers in six London stores ahead of Christmas… The pacey roll out follows a successful trial of the service at Waterside Simply Food over the summer. The store now sees 20% of its sales from Mobile, Pay, Go with an average of 170 items being purchased through the app every hour.”
Tencent uses face recognition to verify the age of mobile game players
Honour of Kings uses facial recognition to check ages — BBC — “The mobile app resembles League of Legends and pits players against each other in multiplayer online battles set in a fantasy world. Under pressure from local regulators, Tencent introduced restrictions in July 2017 to limit under-12s to one hour of gameplay a day and 13- to 18-year-olds to a maximum of two hours. Last month, the company added a real-name registration system to encourage players to keep to the rules.”
FIS reports on real-time payments market growth
Real-time payment system growth surging worldwide — FIS — “FIS identified 40 live real-time payments programs worldwide as part of its 2018 Flavors of Fast report, up from 25 in 2017 and nearly three times as many as 2014. The report found five payments programs under development, plus another 16 expected to be live in the next 12-18 months.”
EU begins rollout of cross-border digital identity project
Cross-border digital identification for EU countries: Major step for a trusted Digital Single Market — European Commission — “As of 29 September, the EU-wide legislation on the electronic identification (eIDAS Regulation) will enter into force enabling cross-border recognition of the electronic ID and allowing citizens and business to share their identity data when necessary. People will be able to use their electronic ID (eID) such as ID cards, driver licenses, bank cards and fill tax returns online, access medical records and online public services across the EU.”
Tim Berners-Lee launches decentralized identity platform
One small step for the web… — Tim Berners-Lee — “Solid is a platform, built using the existing web. It gives every user a choice about where data is stored, which specific people and groups can access select elements, and which apps you use. It allows you, your family and colleagues, to link and share data with anyone… It will empower individuals, developers and businesses with entirely new ways to conceive, build and find innovative, trusted and beneficial applications and services.”
Tatra Banka lets new customers verify their ID on their mobile phone
Customers save at least 70% time using Innovatrics digital onboarding — Innovatrics — “Users are first tasked to take a photo of both sides of their identification card. Afterwards, they are prompted to take a selfie to verify that the image is actually the same as the picture on the submitted ID. A ‘liveness test’ is performed for added security wherein the client has to follow with his or her eyes a randomly moving dot appearing on the mobile screen.”
Micro loans let Chinese consumers buy snacks and lipsticks on credit
Chinese millennials are buying hamburgers on instalment, fuelling micro loan industry — South China Morning Post — “A small layer cake can be had for as low as 0.46 yuan per month for three years, or there’s lipstick for only 1.93 yuan (3 US cents) per month for two years. Interest rates differ based on the product price and repayment period but some loans are offered interest free.”
Amazon uses digital price tags to offer member-only pricing in new 4-star store
Introducing Amazon 4-star — Amazon — “Digital price tags alongside every product show the Prime price and list price, as well as Prime member savings, average star rating, and the total number of reviews a product has received. Customers who aren’t already Prime members can easily sign up for a free 30-day trial and instantly receive the Amazon.com price in store.”
Alipay builds travel guide into mobile payments app
Alipay launches in-app guide for Germany’s Oktoberfest — Alizila — “Alipay said Friday it launched an in-app travel guide in Chinese for visitors to Munich’s Oktoberfest celebration and the city’s 211-year-old downtown Viktualienmarkt… The pilot service will offer ‘a wealth of information on the culture and history of both venues,’ including a map, a guide to individual stalls and products, information on German behavioural norms, like how to toast with a glass of beer and advice on when and where it’s OK to take photos. Users can also pay for what they buy through the Alipay app.”