Big banks on notice that they’re losing ground to China’s fintech giants — South China Morning Post — “Tencent, the Chinese company, over Chinese New Year, in five days processed 46 billion payments. Basically that means 800 million payments per hour. Visa has a maximum capacity of processing 25,000 payments per second. But Alipay can process 50,000 payments, twice as much, per second.”
Visa
Visa chasing Indian payments market as mobile money gains traction
Visa chasing Indian payments market as mobile money gains traction — Developing Telecoms — “Visa CEO Alfred Kelly has affirmed the company’s goal to claim a ‘fair share’ of India’s incipient cashless payment market by offering low cost, low hassle solutions to merchants… ‘Because it’s an exciting market and a lot is going on, there’s a number of players trying to get into the market,’ said Kelly. ‘We clearly have to have a way that’s low cost, low hassle, low friction to enable merchants to sign up.’”
Bank of America and PayPal partner to enable in-store payments and account linking
Bank of America and PayPal partner to enable in-store payments and account linking — Bank of America — “Bank of America will partner with PayPal to tokenize Bank of America cards for customers wishing to use PayPal for in-store purchases, across MasterCard and Visa portfolios in the US. This will support PayPal’s forthcoming NFC mobile wallet experience to enable in-store tap-to-pay purchases and reflects Bank of America’s open wallet strategy.”
BBVA brings Android Pay to Spain
BBVA brings Android Pay to Spain — BBVA – “BBVA and Google today announced the launch of Android Pay in Spain. This payment system will allow BBVA customers to use their Visa and Mastercard cards in order to pay with their mobile phones. Android Pay will be operational in the more than one million businesses in Spain with contactless technology.”
PayPal to let Citibank and Chase customers pay with loyalty points
Citibank and JPMorgan Chase customers across the US will soon be able to make online purchases using loyalty points as currency at “millions of merchants” that accept PayPal... More
Visa and PayPal extend partnership to Europe
Visa and PayPal extend partnership to Europe — Visa — “The European partnership agreement makes it easier for financial institutions to offer their Visa account holders the ability to checkout anywhere PayPal is accepted online… It will also expand the acceptance of PayPal by European businesses that accept Visa in physical locations, providing growth opportunities for Visa, PayPal and their customers.”
Mastercard and Visa lose share to UnionPay in global cards market
Mastercard and Visa lose share to UnionPay in global cards market — RBR — “The continued rapid expansion of the Chinese cards market has helped UnionPay to increase its share of cards to 43% in 2016, and extend its lead over Visa and Mastercard. UnionPay has been the largest scheme globally for card numbers since 2010 and, by the end of 2016, there were more than six billion UnionPay branded cards in circulation.”
More than 30m journeys made using NFC mobile phones across London in the last 12 months
More than 31m journeys have been made using NFC mobile phones across Transport for London’s (TfL) network in the last 12 months, the transport operator has revealed... More
EMVCo-specified universal QR code to be introduced in 4Q17
EMVCo-specified universal QR code to be introduced in 4Q17 — Digitimes — “EMVCo is specifying a universal QR code to facilitate tokenized mobile payments, and the global standard QR code is expected to be introduced to the Taiwan market in the fourth quarter of 2017, with prevailing use to kick off by the end of 2018 at the earliest, according to Visa Taiwan country manager Macro Ma.”
Meet NFC World partners at Money20/20 Europe
NFC World partners Antelop Solutions, Dejamobile, Gemalto, NXP and Rambus will be attending the Money20/20 Europe expo in Copenhagen from June 26-28... More
Transfer money instantly to your bank account with PayPal
Transfer money instantly to your bank account with PayPal — PayPal — “PayPal users in the U.S. will soon be able to instantly transfer money to their bank accounts via eligible debit cards linked to their PayPal account… Our beta of this is now available to select PayPal users and will be made available to all U.S. PayPal users with eligible Visa or Mastercard debit cards over the coming weeks and months.”
New mobile payment option for PNC Bank’s Visa commercial cardholders
New mobile payment option for PNC Bank’s Visa commercial cardholders — PNC Bank — “PNC Bank announced today a new mobile payment option enabling Visa commercial cardholders to use a smartphone or mobile device to make corporate purchases via Apple Pay, Android Pay and Samsung Pay. PNC is one of the first U.S. banks to enable mobile wallet payments for commercial cards.”
Antelop launches HCE SaaS solution to quicken time-to-market for banks
PARTNER NEWS: Antelop Solutions has unveiled a new Mastercard and Visa compatible software-as-a-service (SaaS) platform which allows banks to build HCE-based NFC mobile payments into their own apps more quickly... More
Mahindra Comviva and Rambus sign up to Visa’s token service provider
PARTNER NEWS: NFC World partners Mahindra Comviva and Rambus are among the 13 companies that signed up to participate in Visa’s token service provider (TSP) platform earlier this month... More
Priorbank adds Visa support for HCE service
Belarusian bank Priorbank has added support for Visa cards to its host card emulation (HCE) based mobile payments service that launched with support for Mastercard in April 2016... More
Visa to roll out cashless experience at the FIFA Confederations Cup 2017
Visa to roll out cashless experience at the FIFA Confederations Cup 2017 — Visa — “Alfa-Bank guests will also be able to use a payment ring for the first time at a FIFA event. The payment ring, attached to a prepaid card, features an embedded NFC-enabled antenna, enabling fans to tap to pay throughout Russia, anywhere contactless payments are accepted.”
Orange adds Android Pay to mobile banking app in Poland
Mobile network operator Orange has become “the first Polish telecom operator” to integrate Android Pay into its Orange Finanse mobile banking app, allowing its customers with an active Mastercard debit or credit card to make payments using their Android handsets without having to download the Android Pay app separately... More
Oxford Bus Company and Thames Travel passengers can now ‘wave and pay’
Oxford Bus Company and Thames Travel passengers can now ‘wave and pay’ — Oxford Times — “This would do more than ‘just replace the existing cash ticket’, managing director Phil Southall said… ‘We’re really proud to be able to offer the ability for customers to pay for their tickets using Visa, Mastercard, Apple Pay and Android Pay on all of our services from today. We have ambitious plans over the coming months.'”
Visa expands global network of providers to drive acceleration into IoT payments
Visa expands global network of providers to drive acceleration into IoT payments — Visa — “Visa announced it has signed 13 new partners to participate in its token service provider (TSP) program… The newest Visa partners share a desire to advance digital and device-based payments, and represent all major regions of the globe.”
Android Pay goes live in Taiwan with CTBC and First Bank
Android Pay has launched in Taiwan, taking the mobile payment service to a total of 13 markets following its debut in Canada earlier this week... More