The market for payment-enabled wearable devices will reach US$7.2bn in 2024, “driven by a surge in contactless payment adoption, as a result of growing usage of contactless cards and near field communication (NFC)-enabled mobile payments,” ABI Research predicts. More
The Lowry Hotel in Manchester, UK, is piloting a graphene-based contactless payment system that enables restaurant customers to pay their bill by tapping their smartphone on a till receipt imprinted with an electronic antenna... More
Asia is leading the way in the use and development of digital currencies and remains the world’s largest digital payments market, with China alone accounting for more than half of the total transaction value worldwide, according to a new research paper published by Singapore’s DBS Bank... More
Dutch bank ING and supermarket giant Albert Heijn are to pilot a tokenized payments service which enables customers to pay for online purchases from their bank accounts without needing to provide retailers with account credentials... More
Transactions conducted by customers using Korean bank DGB Daegu’s IM Bank mobile banking app on a Samsung Galaxy A Quantum 5G smartphone will soon be secured with 5G quantum cryptography technology that generates true random numbers to encrypt one-time passwords and identity verification information... More
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Countries with digitised and innovative economies are more likely to be developing central bank digital currency (CBDC) projects while those with a larger informal economy are tending to focus on creating retail CBDCs, a working paper published by the Bank for International Settlements (BIS) reports. More
The Banco Central do Brasil has formed a study group to evaluate the benefits and challenges of issuing a central bank digital currency (CBDC) in the country. More
Public transport users in the Canadian city of Saskatoon will soon be able to plan their journeys, get real-time updates, pay their fares and connect their bus journeys to complementary door-to-destination transport options in a single app that combines mobile ticketing with Mobility-as-a-Service (MaaS).... More
Indian telecommunications giant Reliance Jio has begun piloting Jio Pay, a new UPI-enabled payments service which includes support for both NFC and QR mobile payments. More
Spanish banking group BBVA is to pilot a service which will enable merchants to accept contactless payments on their Android smartphones without the need of additional hardware... More
Users of Singapore mobile network operator Singtel’s Dash mobile wallet can now earn reward points for each in-store and online payment and every overseas remittance they make using the service... More
The Central Bank of Azerbaijan has raised the limit for all contactless card transactions and contactless ATM withdrawals in the country from 50 manats (US$29.40) to 100 manats (US$58.80). More
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UMB Bank customers in the US can now opt to use their rewards points balance to pay for any in-store purchases they make with their UMB Visa debit or credit card... More
Bank customers in India will soon be able to book, pay for and receive railway e-tickets for use on their mobile device through their mobile banking app. More
The number of passengers using the Omny contactless payment service to pay for journeys on the New York City subway has risen by 168% since August 2019 and by 50% since May this year, New York’s Metropolitan Transportation Authority (MTA) reports... More
Customers who rent upcycled denim clothing from Love Letter, the new rental-only collection from fashion brands Ganni and Levi’s, will be able to discover a garment’s history by tapping on an NFC-enabled patch on the clothes... More
KNOWLEDGE CENTRE: Developments in NFC technology and existing RFID infrastructure are enabling businesses in a range of markets to benefit from the use of NFC-enabled devices at all stages of their operations, HID Global explains in a new white paper now available to download from the NFCW Knowledge Centre... More
Ukraine’s PrivatBank has begun to roll out biometric POS terminals for its facial recognition payments service FacePay24... More
One in three UK consumers (32%) are in favour of further raising the country’s current contactless spending limit from £45 (US$59), according to a YouGov survey... More
Convenience store giant Circle K is to add support for cashierless shopping at one of its Phoenix, Arizona, outlets, “with other stores to follow”... More