What's New in Payments

Face recognition to replace QR codes in China?

As China turns towards facial recognition payments, are QR codes on their way out? — South China Morning Post — “As the familiar square mosaic gains greater popularity outside China, the tech giants that helped to drive its adoption are already moving away from the app-based payment method to something even more portable: your face.” 


What's New in Payments

Mastercard pilots blockchain product provenance platform

Mastercard enables luxury shoppers to purchase with confidence — Mastercard — “Consumers will be able to shop the exclusive Rodarte pieces at Fred Segal Sunset with the ability to scan a QR code on the garment’s tag to trace each step of the product journey. Consumers who purchase from Fred Segal’s online store can learn more about the product journey and verify authenticity by scanning the QR code when their package arrives at home.” 


What's New in Payments

Apple Card begins to roll out in the US

The Apple Card starts rolling out today — The Verge — “Apple says a random selection of people who signed up to be notified about the Apple Card will be invited to sign up today… The signup process, which requires iOS 12.4, involves entering your address, birthday, income level and last four digits of your Social Security number. That information is sent to Goldman Sachs, which will approve or decline your application in real time… Once you’ve been approved, your new card will show up in your Apple Wallet immediately.” 


What's New in Payments

Samsung lets Canadian merchants accept contactless payments on Galaxy smartphones

Samsung Pay Touch app turns your Galaxy smartphone into a PoS terminal — SamMobile — “Samsung has quietly launched the Samsung Pay Touch app to target small businesses in Canada. The app transforms compatible Galaxy smartphones into POS (point of sale) terminals that can accept contactless payments from customers… The biggest advantage of Samsung Pay Touch is that it doesn’t require any additional hardware to set up. As long as you have a compatible Galaxy smartphone, you can download the app and complete the registration to start using it right away.” 


What's New in Payments

OCBC lets customers use mobile phones to withdraw cash from ATMs

OCBC Bank is first in Singapore to enable cash withdrawals at ATMs using QR codes — OCBC — “OCBC Bank customers can withdraw cash by just scanning a QR code using the OCBC Pay Anyone app, then authenticating the transaction via fingerprint, faceprint or mobile banking login credentials… Using a QR code instead of keying in a PIN is more secure because biometric authentication can be chosen, a more robust security feature than a PIN that can be revealed or stolen. Further, a physical ATM card can be skimmed while a mobile device cannot.” 


What's New in Payments

Eight in ten US debit card issuers to offer contactless cards next year

Debit payments continue to grow and go digital — Pulse — “The percentage of debit card issuers that say they are interested in offering contactless cards nearly doubled year over year, with 70% planning to issue contactless cards by the end of 2020. Another 10% already issue some contactless debit cards. Only 20% of respondents say they have no plans to offer contactless cards.”