Payments made via Apple Pay now account for around 5% of global card transactions, according to research firm Bernstein — and are set to represent 10% of all card transactions by 2025... More
- Bank of China lets taxi drivers accept central bank digital currency payments on NFC mobile phones
- Juniper forecasts 25% increase in POS terminal transaction values by 2028
- STMicroelectronics launches NFC tag chip with elliptic curve cryptography
- NFC Forum survey finds majority of consumers now prefer making payments with their mobile phone
- Hello, NFCW readers!
Contactless payments set to triple to US$6tn by 2024
Global contactless transaction values will reach nearly US$6tn in 2024, up from US$2tn today, Juniper Research forecasts. More
South Dakota State University rolls out iPhone NFC IDs
South Dakota State University students, faculty and staff are now able to add their MyJacks ID cards to their iPhone or Apple Watch and then use their mobile phone or wearable to make on-campus payments and gain access to residence halls and other facilities... More
Virgin Voyages to issue cruise passengers with contactless wearables
Virgin Voyages is to issue contactless wristbands to its cruise passengers, enabling them “to not only unlock their cabin with ease, but also to explore all of the thrills and great experiences that Scarlet Lady and the rest of our fleet will have to offer”... More
Munich Airport uses NFC shelf-edge labels to let passengers self-checkout from retail store
A solution that uses NFC shelf-edge labels to let passengers self-checkout and pay for their shopping using their mobile phone is undergoing pilot testing at Munich Airport... More
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Google to revamp its payments products
“We had a tremendously successful launch in India from which we learnt a lot of features, and we are bringing that and we are revamping our payments products globally,” Alphabet CEO Sundar Pichai has revealed... More
India to relax mobile wallet KYC rules
‘Low KYC’ norm to help mobile wallets retain their customers — Economic Times — “In a move set to bring relief to scores of mobile wallet firms such as Paytm, PhonePe, Amazon Pay and their several million users, the Reserve Bank of India (RBI) will allow wallet service providers to continue operating their millions of non-compliant know-your-customer (KYC) accounts which earlier faced cancellation… An estimated over 200m mobile wallets ran the risk of being cancelled by the regulators, once the deadline to upgrade their non-compliant accounts to ‘full KYC’ accounts expires on February 29.”
Federal Reserve sets out its digital currency position
The digitalization of payments and currency: Some issues for consideration — The Federal Reserve — “Given the dollar’s important role, it is essential that we remain on the frontier of research and policy development regarding CBDC [Central Bank Digital Currency]. Like other central banks, we are conducting research and experimentation related to distributed ledger technologies and their potential use case for digital currencies, including the potential for a CBDC. We are collaborating with other central banks as we advance our understanding of central bank digital currencies.”
7-Eleven pilots cashierless store at US headquarters
7-Eleven is piloting a cashierless store concept at its US headquarters that uses technology developed in-house to let employees check in to the 700sqft store, shop and then exit — without needing to visit a physical checkout. More
Apple to add support for NFC car keys?
Evidence of a new feature that will make it possible to use an iPhone or an Apple Watch as a car key has been spotted in the first beta version of iOS 13.4, which was released to developers yesterday. More
Calypso and OSPT Alliance to create single open standard for transit ticketing
Calypso Networks Association (CNA) and OSPT Alliance have begun work on the creation of a single, global open standard for transit ticketing that will leverage “the unique strengths” of both the Calypso and the Cipurse standards... More
Corethree lets transportation operators replace prepaid ticket validators with low-cost NFC tags
Transportation ticketing specialist Corethree has introduced a service that enables transit operators to let passengers tap low-cost NFC tags placed on board a bus or other public transport service to activate and validate a prepaid mobile ticket... More
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One in fourteen UK consumers no longer carry a physical wallet
One in 14 people ‘no longer carry a wallet’ — Yahoo Finance — “One in 14 people say they no longer carry a wallet, a survey has found. Some 7% no longer take a wallet out and about with them, while a fifth (20%) said that if they were to look in their wallet it would not contain any cash.”
Israeli banks balk at Apple Pay fees
Turbulent entry into the payments market: Apple Pay requires high commission in Israel — Calcalist (translation) — “Apple representatives have begun a round of meetings with banks and credit companies to formulate agreements to begin Apple Pay’s operations in the country… Some players were surprised to find that Apple requires a fairly high fee estimated at 0.15% to 0.25% of any transaction made through Apple Pay… ‘It is disproportionate, and constitutes an exploitation of its status and power,’ says a source close to the talks between the parties.”
Jameson adds NFC tags to whiskey bottles for St Patrick’s Day
Jameson Irish Whiskey’s annual St Patrick’s Day limited-edition bottles this year include NFC tags that customers can tap to design their own custom label and enter a competition to win a personalised limited-edition bottle... More
Weave adds NFC to tabletop role-playing game
Continue to redefine your story with the new Storyteller Screen for Weave — Gaming Trend — “The traditional game master screen has been re-imagined with new technology to keep storytelling fresh… Scan the app with the NFC chip to load character sheets, launch new or old stories and invite new players to current sessions.”
Visa to introduce variable interchange rates in the US
Visa is planning the biggest changes to swipe fees in a decade — Bloomberg — “The company’s interchange rates — fees charged every time a consumer uses a card — will go up or down depending on the merchant and the way a consumer pays for their purchases, according to a document Visa sent to banks that outlines the changes. Higher rates are looming for transactions on e-commerce sites, while retailers in certain services categories, such as real estate and education, will see fees decline.”
Royal Australian Mint to phase out silver coins?
Royal Australian Mint expects lowly silver coins to be phased out amid rise of contactless payments — ABC Radio Melbourne — “Royal Australian Mint chief executive Ross MacDiarmid said demand for coinage had dropped by about 55% in the last five years, and most of that had been for silver coins… Rising inflation, coupled with the growth of online and contactless payments, are rendering the lowly silvers obsolete… Much like the old 1 and 2c coins, phased out in the 1990s, Mr MacDiarmid expected the mint to eventually stop producing 5 and 10c coins.”
Lancashire Cricket puts mobile tickets on the blockchain
Lancashire Cricket becomes first organisation to activate blockchain secure ticketing — Lancashire Cricket — “Lancashire Cricket is leading the way in ticketing technology after becoming the first organisation in the UK, in any industry, to activate blockchain secure mobile tickets for all domestic and international fixtures at Emirates Old Trafford in 2020. The club will be using TIXnGO, a new blockchain mobile tickets platform, after successful trials took place during the 2019 season.”
Kansas City Chiefs issue NFC tickets to premium suite guests
Super Bowl LIV winners the Kansas City Chiefs have installed NFC ticketing in the premium suites at their Arrowhead Stadium, enabling fans to receive tickets directly on their Android or Apple mobile phones and then tap to enter their suites using NFC... More