The White House and Equifax agree: Social security numbers should go — Bloomberg — “The Trump administration is exploring ways to replace the use of Social Security numbers as the main method of assuring people’s identities in the wake of consumer credit agency Equifax Inc’s massive data breach. The administration has called on federal departments and agencies to look into the vulnerabilities of employing the identifier tied to retirement benefits, as well as how to replace the existing system.”
Bloomberg
Alibaba challenges Google, Amazon with new Echo-like device
Alibaba challenges Google, Amazon with new Echo-like device — Bloomberg — “Importantly, the gadget — powered by the AliGenie system — may eventually simplify shopping for the Chinese e-commerce giant’s 450 million active buyers who turn to the website for everything from cherries to makeup. It will begin formal sales from August 8 only for China and won’t come with a display.”
Apple tests 3D face scanning to unlock next iPhone
Apple tests 3D face scanning to unlock next iPhone — Bloomberg — “For its redesigned iPhone, set to go on sale later this year, Apple is testing an improved security system that allows users to log in, authenticate payments, and launch secure apps by scanning their face, according to people familiar with the product… The company is also testing eye scanning to augment the system, one of the people said.”
Macau’s ATMs are using facial recognition to help follow the money
Macau’s ATMs are using facial recognition to help follow the money — Bloomberg — “Chinese bettors withdrawing money from some ATMs in Macau need to do more than punch in their PIN code. They also have to stare into a camera for six seconds so facial-recognition software can verify their identity and help monitor transactions… China UnionPay Co’s network is the first to use the software, which will be installed in all the city’s 1,200 cash dispensers.”
Jack Ma’s Ant Financial nearly doubles profits amid deal push
Jack Ma’s Ant Financial nearly doubles profits amid deal push — Bloomberg — “The company controlled by Alibaba’s billionaire co-founder Jack Ma racked up an 86% jump in pretax profit to 5.56 billion yuan ($814 million) in the year ended March, according to Bloomberg’s calculations… Since starting as Alipay in 2004, Ant Financial has grown into an online giant that controls more than half of China’s $5.5 trillion mobile payments market.”
Square will replace meters in Washington taxis
Square will replace meters in Washington taxis — Bloomberg — “The overhaul of the city’s cab system will help drivers compete with Uber… By the end of August, all of the taxis in Washington have to tear out their traditional meters and start using smartphones or tablets, in what the city government has been describing as a complete reimagining of how the cab system works.”
In cashless Sweden, even God now takes collection via an app
In cashless Sweden, even God now takes collection via an app — Bloomberg — “A growing number of Swedish parishes have started taking donations via mobile apps… Most of the country’s bank branches have stopped handling cash; some shops and museums now only accept plastic; and even Stockholm’s homeless have started accepting cards as payment for their magazine.”
Apple Pay struggles in China in the face of tough competition
Apple Pay is “struggling” in China due in part to a minority smartphone market share and consumers being “far more accustomed” to competing services such as Alipay and Tencent’s WeChat Pay... More
Samsung Galaxy S8 to use face recognition for payments?
Samsung’s Galaxy S8 flagship smartphone “will employ facial-recognition technology for mobile payments within months of release,” Bloomberg reports... More
Fashion retailers test smart mirrors for mobile payments
Fashion retailers Ralph Lauren and Rebecca Minkoff are testing smart dressing-room mirrors that will soon allow shoppers to “wave their phones in front of the mirror and make a purchase using Apple Pay or Android Pay”, Bloomberg reports... More
Apple to develop iPhone connected digital glasses?
Apple is looking at developing digital glasses connected wirelessly to a wearer’s iPhone, which would show images and other information in the wearer’s field of vision and may use augmented reality, a report in Bloomberg suggests... More
Apple Pay goes live in Japan
Apple Pay is now live in Japan, enabling local iPhone and Apple Watch users to make payments in stores and on public transportation services that support the widely used Sony FeliCa-based Japanese NFC payments system... More
Apple to offer iPhone with FeliCa NFC payments in Japan
Apple is planning to launch an iPhone in Japan equipped with Sony FeliCa NFC technology to allow owners to make payments for travel and other services... More
Singapore aims for cashless society
Singapore plans to reduce the role of cash and checks by encouraging banks to switch to digital payments, according to the Monetary Authority of Singapore’s (MAS) Ravi Menon... More
JPMorgan Chase joins ClearXChange
JPMorgan Chase has joined its US rivals in letting its customers transfer money in real time between financial institutions signed up to bank-led digital payments network ClearXChange... More
Analyst compares global take-up of key mobile payment services
Apple Pay has attracted 12m monthly users globally since its launch in October 2014, while Google’s Android Pay has attracted 5m monthly users since becoming available in September 2015 and Samsung Pay has also attracted 5m monthly users, according to research by Crone Consulting which has been reported by Bloomberg... More
Apple Pay available in more than 2m US retail locations
Apple Pay is now available in more than 2m US retail locations, according to Bloomberg, with the Crate & Barrel, Chick-fil-A and Au Bon Pain chains also due to roll out the service soon... More
Alipay parent seeks $1.5bn investment
Alibaba affiliate Ant Financial, owner of mobile payment platform Alipay, is seeking an investment of at least 10bn yuan (US$1.5bn) ahead of a planned initial public offering, Bloomberg reports... More
Apple Pay signs deal with China UnionPay?
Apple Pay has reached an agreement with China UnionPay to use its point-of-sale network to introduce the mobile payment service in China, according to Bloomberg... More
Tangerine tests facial recognition
Scotiabank-owned direct bank Tangerine is reportedly experimenting with facial recognition technology on mobile devices... More