“Rampant” fraud levels being experienced by US card issuers that have signed up for Apple Pay need to be addressed with urgency, payments consultant Cherian Abraham has told NFC World, to avoid Apple, the individual banks and tokenized mobile payments as a whole suffering a reputational damage... More
Apple Pay fraud levels are now “rampant” with every Apple Pay (AP) issuer having seen “significant” provisioning fraud, payments consultant Cherian Abraham claims in a detailed blog post... More
About 59% of US point-of-sale (POS) terminals will be EMV-enabled by the end of this year, research by Aite Group has revealed, with NFC distribution projected to “ramp at the same rate as EMV distribution,” senior analyst Thad Peterson tells NFC World... More
NFC World’s ‘Understanding tokenization and host card emulation’ workshop is now available to view online... More
Visa is to expand its Visa Token Service to more regions, to a range of mobile devices and to online transactions made using its Visa Checkout service in 2015, the payments network has announced, “helping to prevent exposure of sensitive consumer account information in online and mobile payments.”... More
A US startup is taking pre-orders for a biometrically secured mobile wallet, consisting of a payment app and Bluetooth Low Energy (BLE)-based “bio-sticker” attached to the back of the user’s phone... More
Korean internet and messaging giant Daum Kakao has launched BankWalletKakao, a mobile wallet service provided in partnership with 16 Korean banks and Korea Financial Telecommunications and Clearing Institute (KFTC)... More
PARTNER NEWS: Payment credential management specialist Bell ID has introduced Tokenization Manager, a software solution that can be used by token requesters such as card issuers to manage payment tokens, by digital wallet providers to deliver tokens to support mobile NFC payments and by merchants to replace the need to store customers’ card numbers... More
American Express is to launch a US$10m Small Merchant EMV Assistance Program in February 2015 to drive adoption of EMV... More
The US Federal Reserve’s Mobile Payments Industry Workgroup (MPIW) has given cautious backing to the potential of tokenization in mobile payments and formed a subgroup dedicated to exploring the impact of the technology in more depth... More
Barclays is to provide its UK corporate banking customers with finger vein biometric authentication devices that will let them “easily access their online bank accounts and authorise payments within seconds, without the need for PIN, passwords or authentication codes.”... More
Leading merchant groups in the US have come together to call for the creation of an alternative set of open standards for tokenized payments that would be managed by an independent body such as ISO or ANSI — rather than by the payments industry. More
HID Global has introduced a care worker tracking service that meets Medicaid Electronic Visitor Verification (EVV) requirements... More
Almost 70% of Americans believe that EMV chip technology makes their debit and credit card transactions more secure, with only 5% feeling chip cards make their transactions less secure, a new survey released by NXP Semiconductors has revealed... More
US check printing company Deluxe Corporation has introduced the Deluxe Mobile Checkbook, a new app that will let small business owners send and receive checks using their mobile device... More
BioCatch has raised US$10million to expand its behavioural biometric authentication platform... More
Some 70% of US credit cards and 41% of debit cards will be EMV enabled by the end of 2015, according to a new Aite Group report, but the majority will be contact cards rather than dual interface cards that also support contactless payments... More
Usage of mobile banking technology provider Malauzai Software’s debit card on/off service, which allows customers of its financial institution clients to use their mobile phone to activate and deactivate their debit card on the go, has increased 850% in the last six months, the company reports... More
ATM maker Diebold is adding the option to upgrade its Opteva terminals to enable them to interact with contactless cards and NFC devices... More
The new service enables keys, certificates and NFC credentials to be stored securely in a remote location, rather than in the mobile device, is fully compatible with standard EMV contactless payments terminals and enables card issuers to deploy NFC solutions without the need to partner with mobile network operators or other third parties. More