Significant confusion and a high level of fragmentation can be expected over the next five years as European financial institutions become accustomed to new regulations under the Payment Services Directive (PSD2) which will open the door to new competition within the European payment services market, says Nordea Bank’s vice president of strategic business development, transaction banking and business innovation. More
More than half of UK consumers (56%) would prefer to use a biometric security method over traditional options like passwords to log into their financial accounts online, research released by Equifax reveals. 33% would prefer to use fingerprint recognition, 31% would like to use iris scanners, 7% facial recognition and 3% voice recognition. More
Nearly half of US millennials (48%) are willing to switch from passwords to another identification method to access their bank accounts, research released by Aite Group shows. This compares to 40% of generation X, 29% of baby boomers and 16% of seniors. More
A blockchain-based digital identity network that will let Canadians verify their identity to organisations of their choice and access services such as new bank accounts, driving licenses or utilities using a mobile app is now undergoing testing ahead of a planned launch later this year. The service is backed by a group of Canadian banks that includes BMO, CIBC, Desjardins, RBC, Scotiabank and TD. More
Mobile POS provider Square has blamed a “change we made to one of our back-end systems” for a service outage which affected payments and other services earlier this week... More
PARTNER NEWS: An eight-page guide exploring how key developments in mobile payments will shape the industry in the next three years is now available to download from the NFC World Knowledge Centre... More
Samsung’s Galaxy S8 flagship smartphone “will employ facial-recognition technology for mobile payments within months of release,” Bloomberg reports... More
PARTNER NEWS: STMicroelectronics has combined its ST25R3911B NFC reader IC and its STM32L476RE microcontroller into a discovery kit designed to accelerate time to market for a wide range of contactless applications, including ticketing, asset tracking, device authentication, sensor data collection and access control... More
The Korea Communications Commission (KCC) is to run a pilot allowing consumers to authenticate themselves when making online purchases by tapping their credit card against an NFC smartphone, The Korea Herald reports... More
PARTNER NEWS: A new embedded secure element and NFC solution from NXP will make it possible for mobile transactions to be conducted at the same speed as contactless card transactions... More
NFC World partners Rambus, Mahindra Comviva, STMicroelectronics, Dejamobile, NXP, Gemalto and Antelop will be attending Mobile World Congress in Barcelona from 27 February to 2 March... More
PARTNER NEWS: Mobile financial solutions firm Mahindra Comviva has launched PayPlus Aadhaar Pay, a merchant payment acceptance solution designed for rural India that will enable merchants to accept in-store payments through Aadhaar numbers and biometric-based authentication... More
The European Banking Authority (EBA) is to modify its proposed plan for “strong customer authentication” on all remote payments over €10 (US$10.50), which would have required customers to present additional authentication at checkout such as passwords and codes, or use a card reader... More
Finnish distiller Northern Lights Spirits (NLS) is to include NFC tags on premium Kalevala Gin bottles, allowing it to “instantly deliver authentication messages, brand stories, promotional offers, product news and other relevant content” to customers... More
The PCI Security Standards Council (PCI) has issued guidance on the “proper use” of multi-factor authentication (MFA) for preventing unauthorised access to computers and systems that process payment transactions... More
More than 14 banks have signed up to support Aadhaar Pay, a service set to be unveiled by the Government of India that will enable consumers to receive and make payments using biometrics... More
PARTNER NEWS: The electronic passport could soon become a “virtual mobile identity” that will allow owners to interact with and authenticate applications, as well as send credentials to other electronic devices using NFC smartphones and wearables, according to NXP... More
Samsung’s upcoming flagship smartphone will come with an iris scanner to allow owners to unlock their devices and authenticate purchases with their eyes, according to The Guardian... More
Social media giant Facebook has added the Fido Alliance’s Universal Second Factor (U2F) specification to its platform to strengthen its range of two-factor authentication methods which have previously been offered through an SMS service or by a code generation feature inside the Facebook mobile app... More
Consumers with Samsung Galaxy S7 and Galaxy S7 Edge devices can now log into select websites and mobile apps using their fingerprint and Samsung Pass, the biometric authentication service unveiled by Samsung in August 2016... More