Financial services – NFCW https://www.nfcw.com B2B news, analysis and educational resources on the latest trends and technologies in payments, transit ticketing, near field communication (NFC) and contactless, and beyond Fri, 08 Jan 2021 10:10:19 +0000 en-US hourly 1 https://wordpress.org/?v=5.7.2 https://www.nfcw.com/wp-content/uploads/2020/02/cropped-nfcw-favicon-white-32x32.png Financial services – NFCW https://www.nfcw.com 32 32 37289602 Korea to let banks add food ordering services to mobile apps https://www.nfcw.com/2021/01/08/369906/korea-to-let-banks-add-food-ordering-services-to-mobile-apps/ Fri, 08 Jan 2021 10:10:13 +0000 https://www.nfcw.com/?p=69906 Banks in South Korea will be able to add a wide range of non-financial services to their mobile apps, including food ordering and delivery, following changes to the country’s financial regulatory system due to be introduced by the Financial Services Commission (FSC) in July 2021. The FSC also plans to allow more commercial banks, local […]

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Stocard picks Dejamobile to add payments to mobile loyalty app https://www.nfcw.com/2020/06/16/366820/stocard-picks-dejamobile-to-add-payments-to-mobile-loyalty-app/ Tue, 16 Jun 2020 15:22:04 +0000 https://www.nfcw.com/?p=66820 PARTNER NEWS: European mobile loyalty wallet leader Stocard has added support for NFC payments to its app as it looks to evolve its digital wallet into an all-in-one payments, banking and shopping service. Stocard has 50 million users worldwide, mainly located in Germany, the UK, France, Italy, the Netherlands, Belgium, Austria, Switzerland, Australia and Canada. […]

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Alipay sets out plan for open financial services platform https://www.nfcw.com/2020/03/11/366005/alipay-sets-out-plan-for-open-financial-services-platform/ Wed, 11 Mar 2020 13:01:05 +0000 https://www.nfcw.com/?p=66005 Chinese mobile payments giant Alipay has announced a three-year plan to evolve its current offering into an open financial services and digital lifestyle platform — and has set a target of attracting 40m service providers by 2030. “The plan marks a major milestone as Alipay continues to strengthen its positioning in China, evolving from a […]

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One million Brits now use open banking https://www.nfcw.com/2020/01/22/365515/one-million-brits-now-use-open-banking/ Wed, 22 Jan 2020 10:29:06 +0000 https://www.nfcw.com/?p=65515 The number of consumers using open banking has doubled in the past six months to more than one million, the UK’s Open Banking Implementation Entity (OBIE) reports, and there are now a total of 204 regulated service providers — up from 100 at the end of 2018. The one million open banking users now generate […]

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Visa to acquire Plaid in $5.3bn move into open banking and integrated payments https://www.nfcw.com/2020/01/14/365457/visa-to-acquire-plaid-in-5-3bn-move-into-open-banking-and-integrated-payments/ Tue, 14 Jan 2020 16:53:53 +0000 https://www.nfcw.com/?p=65457 Visa is to acquire Plaid for US$5.3bn, in a move that CEO Al Kelly says “will put us at the epicentre of the fintech world, expanding our total addressable market and accelerating our long-term revenue growth trajectory”. Plaid “makes it easy for people to securely connect their financial accounts to the apps they use to […]

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Open banking pilot goes live in Korea https://www.nfcw.com/2019/11/04/364917/open-banking-pilot-goes-live-in-korea/ Mon, 04 Nov 2019 13:42:03 +0000 https://www.nfcw.com/?p=64917 A new open banking system which is set to cut transaction fees by 90% has now entered pilot testing, Korea’s Financial Services Commission (FSC) has announced. “During the pilot-run period, the government will conduct a comprehensive assessment of the system and make adjustments if necessary before opening the system to fintech firms on December 18,” […]

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Sierra Leone puts national ID cards on the blockchain https://www.nfcw.com/2019/09/02/364222/sierra-leone-puts-national-id-cards-on-the-blockchain/ Mon, 02 Sep 2019 14:56:01 +0000 https://www.nfcw.com/?p=64222 The government of Sierra Leone is to introduce a blockchain-based national identity system at the end of this year, enabling citizens to “grant access to approved institutions to assert and verify identity and also build credit histories,” the country’s president has announced. The National Digital Identity Platform (NDIP) has been developed in partnership with the […]

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Samsung Pay adds in-app loan and credit card applications in India https://www.nfcw.com/2019/07/11/363488/samsung-pay-adds-in-app-loan-and-credit-card-applications-in-india/ Thu, 11 Jul 2019 15:13:13 +0000 https://www.nfcw.com/?p=63488 “Paisabazaar.com, India’s largest online marketplace for financial products, today announced its partnership with Samsung… Samsung Pay users can apply for credit cards and personal loans from the platform. The move will enable millions of existing and potential Samsung Pay users to get the benefit of seamlessly opting for a host of financial services.”

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Uber leverages open banking to provide in-app financial services to drivers in Mexico https://www.nfcw.com/2019/07/04/363435/uber-leverages-open-banking-to-provide-in-app-financial-services-to-drivers-in-mexico/ Thu, 04 Jul 2019 14:10:18 +0000 https://www.nfcw.com/?p=63435 “For the first time we are offering a BBVA product that will ‘live’ in a third party’s platform. In other words, we are bringing the bank to our partner, who in turn is bringing us to their drivers and delivery partners, so they can take advantage of all the benefits that the bank has to […]

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Visa, Mastercard and PayPal back Facebook’s Libra cryptocurrency launch https://www.nfcw.com/2019/06/18/363068/visa-mastercard-and-paypal-back-facebooks-libra-cryptocurrency-launch/ Tue, 18 Jun 2019 11:50:04 +0000 https://www.nfcw.com/?p=63068 “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 organisations […]

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