What's New in Payments

Mastercard pilots decentralized digital identities

Mastercard brings digital identity to real world tests — Mastercard — “The pilot will test a new way for people to prove their identity without having to carry multiple documents. Instead, the model allows the data to sit with its rightful owner — the user. It will activate a distributed model that blends information stored on an individual’s mobile device and verified by additional reference points, such as an individual’s bank or participating government agencies.”


What's New in Payments

Grab to issue mobile-first numberless Mastercard across SE Asia

Grab launches Asia’s first numberless card — Grab — “The physical version of the card is completely numberless, front and back, thus averting the prospect of theft of personal and financial information… The digital GrabPay Card is available in Singapore starting today… The digital GrabPay Card will be launched in the Philippines in Q1 2020, with other Southeast Asian countries to follow in the first half of next year.”







What's New in Payments

RBR reports 10% growth in global payment card market

Continued growth in China cements UnionPay as the world’s largest card scheme — RBR — “There were 16bn payment cards in circulation at the end of 2018, up by 10% since a year earlier… The largest scheme worldwide is UnionPay, which accounted for 45% of cards in circulation at the end of 2018… Visa (including Visa, Visa Electron, V Pay and Interlink) made up 20% of the world’s cards… Mastercard (Mastercard, Maestro and Mastercard Electronic) accounts for 16% of all cards.”


What's New in Payments

Mastercard to let Indian merchants accept payments on NFC phones

Mastercard to launch solution for smartphones to become contactless acceptance devices — The Hindu BusinessLine — “If your phone has NFC, then it can become a point-of-sale (POS) device. A customer can tap the contactless card on the phone,” said Vikas Saraogi, vice president of acceptance development at Mastercard, adding that it is likely to be launched in India in the first half of next year.”








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