What's New in Payments

NAB lets merchants accept Visa contactless payments on standard Android smartphones

Your smartphone will soon double as an Eftpos terminal as Quest partners with NAB and Visa — Quest — “Quest Payment Systems (Quest), in conjunction with NAB and Visa, has launched a trial which allows merchants to accept card payments using their Android smartphone. Customers simply tap the merchant’s phone with a contactless card or mobile wallet. No additional payment terminal hardware or dongle is required, allowing small businesses to start accepting payments quickly using their existing mobile device.”


What's New in Payments

Researchers showcase method for bypassing contactless card limit

Hack breaks your Visa card’s contactless limit for big frauds — Forbes — “To carry out their hack, the researchers used a specialised piece of hardware to intercept and insert messages in the communications between the card and the reader. For instance, they could tell the card that verification — like a PIN — wasn’t needed, even though the requested amount was more than £30. They then told the terminal that verification has already been made by another means.”


What's New in Payments

Visa sets out payments innovation plans for Tokyo 2020 Olympic Games

Visa sets sights on a ‘Cashless Japan’ with one year to go to the Olympic Games Tokyo 2020 — Visa — “At the Rio 2016 Olympic Games, Visa offered a payment-enabled ring to its Team Visa athletes. At the PyeongChang 2018 Olympic Winter Games, Visa commercially sold wearable products, such as gloves and lapel pins, enabled to make payments over contactless payment readers. For Tokyo 2020, Visa is exploring payment innovations ranging from biometric payment authentication and wearables to new mobile applications which will include digitally-issued cards.”





What's New in Payments

POS terminals that support 23 different QR, contactless and NFC payments services roll out in Singapore

Unified cashless payment system rolled out at 500 hawker stalls across Singapore — The Straits Times — “The solution, provided by Nets, unifies payments from 23 providers, so dining customers can use different cashless payment options at a single payment terminal at a food outlet. This also saves hawkers the hassle of dealing with multiple e-payment firms. These include e-wallets like Singtel Dash and GrabPay, transport cards EZ-Link and Nets FlashPay, and credit cards such as Visa and Mastercard.”


What's New in Payments

Visa to let merchants offer instalment plans to cardholders

Visa unveils instalment payment capabilities to give shoppers simple and flexible way to pay — Visa — “Visa’s instalment capabilities are changing the game by allowing issuers to leverage an existing payment account consumers already have and are familiar with, instead of asking them to submit to a credit check, download an app or open another line of credit,” said Sam Shrauger, senior vice president, global head of issuer and consumer solutions, Visa. “We expect instalments to become a foundational method of payment at checkout for both domestic and cross-border commerce payment transactions.”



What's New in Payments

Visa rolls out ‘sensory branding’ to a million points of sale in 25 countries

Animation, sound and vibration – How Visa is reinforcing consumer trust in a changing payments world — Visa — “Visa today announced that its sensory branding suite is live at more than one million points of sale in 25 countries. The suite is comprised of sound, animation and haptic vibration brand cues that occur with a Visa payment transaction.”


What's New in Payments

Visa, Mastercard and PayPal back Facebook’s Libra cryptocurrency launch

The Libra Association — Libra — “Libra is a global, digitally native, reserve-backed cryptocurrency built on the foundation of blockchain technology. People will be able to send, receive, spend, and secure their money, enabling a more inclusive global financial system… The Libra Association is made up of a group of diverse organizations from around the world… This initial group of organizations will work together to finalize the Libra Association’s charter and will become the association’s Founding Members upon its completion.”


What's New in Payments

Bank of America to issue contactless cards in New York, Boston and San Francisco

BofA jumps on tap-to-pay bandwagon as NYC’s subway moves forward — Bloomberg — “The lender will send 4m contactless cards this month to customers in New York, Boston and San Francisco who have Visa debit or credit cards… It plans to measure usage in those markets before deciding on a broader rollout at the beginning of next year.”



What's New in Payments

BBVA to roll out single mobile payments platform for all its banks around the world

BBVA builds a global payment platform for the future — BBVA — “BBVA Group has developed a platform to facilitate mobile payments across all the countries in its footprint. The platform developed by BBVA connects to Visa and Mastercard directly from each country’s application and provides the data required to process digital transactions from a smartphone”


Transit Ticketing Today

Visa survey highlights benefits of open loop cards for transit payments

Chase and Visa provide an easier way to get around New York City with a tap — Visa — “More than two-thirds (67%) of riders have missed a train while waiting in line to reload a transit card, according to a recent Visa survey of more than 1,000 New Yorkers who take public transportation. Eight out of ten (83%) people surveyed said they have had trouble getting their transit card to work at the turnstile. And two-thirds (66%) have left or forgotten funds on a transit card, at an average of $35.10 lost.”


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