What's New in Payments

Westpac begins Apple Pay rollout

Westpac

Westpac, the last of the major Australian banks to hold out against the introduction of Apple Pay, has switched on support for the mobile payments service for customers of three of its smaller brands and has announced it will roll out support to its main customer base by June 2020. More


What's New in Payments

EBA Clearing publishes pan-European request to pay specs

EBA Clearing delivers specifications for a pan-European request to pay infrastructure solution — EBA Clearing — “A pan-European request to pay approach is seen as the missing piece of the puzzle for market players to create innovative payment products and services for their customers that leverage real-time messaging, the SEPA schemes and existing cost-efficient payment infrastructures, and that can be used across Europe.” 


What's New in Payments

Sweden’s central bank to test digital currency

Riksbank develops an e-krona in a test environment — Riksbank — “During the first year of the e-krona pilot project, a technical platform will be developed with a user interface that enables, for instance, payment with the e-krona from a mobile phone, a card and a watch. The platform will also contain simulations of payment service providers, retail outlets and other parts of the Swedish payment system.” 


What's New in Payments

Juniper forecasts 161m contactless POS terminals by 2024

Contactless point of sale installed base to exceed 161m by 2024 — Juniper Research — “New data from Juniper Research forecasts that the installed base of contactless-enabled POS (Point of Sale) devices will exceed 161m by 2024; growing from 78m in 2019. Contactless POS devices will then be 94% of all POS devices in use.” 


What's New in Payments

Chinese fraudsters turn to QR codes to spread Trojans and viruses

QR code scams rise in China, putting e-payment security in spotlight — South China Morning Post — “By replacing legitimate merchants’ codes with malevolent copies, fraudsters can gain access to consumers’ data and even raid their bank accounts… According to one senior official and technology expert, almost a quarter of Trojans — malicious programs disguised as benign software – and other viruses are transmitted though QR codes.” 


What's New in Payments

Report: US retailers must pay a premium for Apple Card transactions

Retailers don’t like paying the fees for your Apple Card — Bloomberg — “The card, marketed by Apple and backed by Goldman Sachs Group Inc, is designated ‘elite’, which allows it to levy significantly higher interchange fees on each swipe or tap… The cards have long irked retailers. They have no choice but to pay the higher fees for elite plastic if they want to accept any of a network’s credit cards.” 


What's New in Payments

German savings banks switch on support for Apple Pay

Savings banks introduce Apple Pay — Der Spiegel (translation) — “After much hesitation, the savings banks and additional German banks are now offering the Apple Pay mobile payment service… 371 out of a total of 379 German savings banks have now introduced the digital payment service. More than 50 million people can use the service immediately.”