PARTNER NEWS: Antelop Solutions has launched an integrated onboarding, authentication and mobile payments platform for Android and iOS devices that lets both traditional and challenger banks combine “best-in-class” end-to-end security with a user friendly, PSD2-compliant, mobile-first consumer experience... More
Scam victims to be refunded by banks — BBC — “Previously, banks only tended to reimburse people if there was an obvious fault in the way the payment was handled by the bank. Some £354m (US$446m) was lost in this fraud to individuals and businesses last year, but only £83m (US$105m) was refunded… Now anyone who has taken reasonable care, or has any element of vulnerability, is much more likely to receive a refund of the lost money.”
BBVA builds a global payment platform for the future — BBVA — “BBVA Group has developed a platform to facilitate mobile payments across all the countries in its footprint. The platform developed by BBVA connects to Visa and Mastercard directly from each country’s application and provides the data required to process digital transactions from a smartphone”
A Goldman Sachs rival pulled out of the Apple Card deal on fears it will be a money loser — CNBC — “‘Dude, if that portfolio ever makes money, I’m buying you a beer,’ an employee at the card department of a big bank texted a Goldman staffer… Citigroup was in advanced negotiations with Apple for the card but pulled out amid doubts that it could earn an acceptable profit on the partnership, according to people with knowledge of the talks… Goldman is ‘thrilled’ to be partnering with Apple, according to Andrew Williams, a spokesman for the New York-based bank.”
$22b of bank revenue at risk from smartphone wallets: Morgan Stanley — The Australian Financial Review — “Smartphone digital wallets offered by Google, Apple and other technology giants will put A$22bn of revenue across the major Australian banks at risk, according to Morgan Stanley… Its analysts came to that figure after looking into how a banks’ payments capability influences decisions relating to other products. This includes transaction accounts that give major banks an opportunity to cross-sell customers more profitable products such as mortgages.”
New chain outlets increase Maybank QRPay merchant base to more than 250,000 — Maybank — “More than 250,000 merchants throughout Malaysia now accept payments using Maybank QRPay, its QR code mobile payment platform, following the recent addition of major chain outlets which include TGV Cinemas, KK Super Mart, 99 Speedmart and Big Pharmacy. This is set to increase further as McDonald’s, Mydin and Starbucks are also piloting this mobile payment option at selected stores within Klang Valley.”
McDonald’s China links loyalty program to Ele.me app — Alibaba — “Starting this week, Ele.me users can activate a McDonald’s membership card with just one click on the app to earn loyalty points for purchases and receive vouchers worth up to RMB88.5 ($12.80). The fast food giant attracted nearly 20,000 new members on its first day of launching the service on May 20, while single-day orders increased about 20% week-over-week, McDonald’s China said.”
What’s for dinner? Order it with Google — Google — “Now you can use Google Search, Maps or the Assistant to order food from services like DoorDash, Postmates, Delivery.com, Slice, and ChowNow, with Zuppler and others coming soon. Look out for the ‘Order Online’ button in Search and Maps when you search for a restaurant or type of cuisine. For participating restaurants, you can make your selections with just a few taps, view delivery or pickup times, and check out with Google Pay.”
Bank Indonesia launches national standard QR code — The Jakarta Post — “QRIS, which physically manifests as a more complex QR pattern, allows users from one payment service to transfer funds to any rival service within BI’s ecosystem. A customer using e-wallet service LinkAja, for example, could transfer funds to a shopkeeper using e-wallet OVO given at least one party has a QRIS code.”
More citizens and businesses satisfied with government digital services — Government Technology Agency of Singapore — “By the third quarter of FY19, the Government will launch ‘SG-Verify’, a facility for businesses to perform secure identity verification and data transfer through QR scanning. This will provide businesses an alternative for visitor registration and access, customer acquisition at roadshows, or any other use cases that require identification.”
Commuters in the greater Paris region will be able to use their NFC mobile phone to store Navigo transit passes and T+ prepaid ticket books from September 2019... More
Members of the Cool Chain Association (CCA) have completed a pilot test of an NFC-based solution to the problem of how to monitor refrigerated fresh produce in transit to ensure it has been maintained at the correct temperature and will still have a good shelf life when it arrives in stores... More
The UK’s NatWest bank has launched a new service that will let consumers pay online merchants directly from their bank accounts, “saving merchants at least 25% of card processing costs”... More
Ithmaar Bank launches biometric ATM network — Trade Arabia — “Ithmaar Bank customers are no longer required to use their cards at the bank’s ATMs. Instead, they can simply use their fingerprint along with their PIN to process financial transactions… To use the service for the first time, customers will need to register their fingerprint data at their nearest branch. The one-time registration only takes a few minutes and allows customer immediate access to the new service.”
Chase and Visa provide an easier way to get around New York City with a tap — Visa — “More than two-thirds (67%) of riders have missed a train while waiting in line to reload a transit card, according to a recent Visa survey of more than 1,000 New Yorkers who take public transportation. Eight out of ten (83%) people surveyed said they have had trouble getting their transit card to work at the turnstile. And two-thirds (66%) have left or forgotten funds on a transit card, at an average of $35.10 lost.”
STMicroelectronics joins Car Connectivity Consortium — STMicroelectronics — “As a leading long-time, trusted supplier to the top players in both the smartphone and automotive industries, ST shares an interest in the mission of the CCC, which aims to make it possible and hassle-free to simply connect and ride… ST’s technology portfolio features many segments well suited to automotive connectivity and the aims of the CCC, including ST25 NFC readers, ST33 Secure Elements, STA12 Accordo infotainment processors, STA13 Telemaco vehicle processors, and Stellar vehicle gateway/domain microcontrollers.”
Inside the Apple Card: Mastercard’s ‘digital first, physical optional’ platform — PaymentsSource — “Following about 18 months of secretive development with Apple and Goldman Sachs, Mastercard is ready to bring the same offering to other issuers. Its platform carries over many of the features that Apple Card users will get, according to Chris Reid, Mastercard’s executive vice president of cyber intelligence and data services for North America.”
Facebook plans to launch ‘GlobalCoin’ currency in 2020 — BBC — “Facebook wants to create a digital currency that provides affordable and secure ways of making payments, regardless of whether users have a bank account. The social networking site, which owns WhatsApp and Instagram, is hoping to disrupt existing networks by breaking down financial barriers, competing with banks and reducing consumer costs.”
Ticketek contactless tickets on iPhone and Apple Watch go live — TEG — “Ticketek, the Australian leader in ticketing, announced today [that] Suncorp Stadium in Brisbane is Australia’s first sport and entertainment stadium to offer convenient and fast contactless tickets on iPhone and Apple Watch… Contactless tickets on iPhone and Apple Watch will be rolled out to further venues across Australia in the coming months.”
RBI publishes ‘Payment and Settlement Systems in India: Vision 2019 — 2021’ — Reserve Bank of India — “The Payment Systems Vision 2021, with its 36 specific action points and 12 specific outcomes, aspires to (a) enhance customer experience, including robust grievance redressal; (b) empower payment system operators and service providers; (c) enable the payments ecosystem and infrastructure; (d) put in place forward-looking regulations; and (e) undertake risk-focused supervision.”