What's New in Payments

Japanese airline ANA to enter mobile payments market

Japan airline ANA aims to build digital payments business — Financial Times — “The plan is part of a broader digital push by ANA, which hopes to build on data collected from the 31m users of its airline miles to provide a range of services including real estate, insurance and health to consumers across Japan… ‘We are aiming for ANA’s version of Alibaba’s Alipay,’ Shinya Katanozaka, ANA’s chief executive, said in an interview.”


What's New in Payments

Insurance giant Allianz to offer mobile payments service with built-in cover for purchases

Allianz and Visa launch mobile payment and loyalty app — Allianz — “The mobile payment and loyalty app is the first of its kind in the insurance industry and enables customers to make fast, safe and easy payments with their mobile device online and in stores… Allianz Prime users also benefit from an attractive loyalty program, a smart spend tracker to simplify money management as well as Allianz Partners’ Digital Payments Protection… The Allianz Digital Payments Protection provides coverage against fraud, safeguards and supports customers in case of defective or damaged online purchases and provides financial compensation in case of a loss.”


Paytm adds investment and wealth management service

We have set up Paytm Money to focus on investment and wealth management — Paytm — “We are fast evolving from being a pioneer in digital payments to becoming a full-stack financial services company, which offers banking, lending, insurance, and payments. With Paytm Money, we will cover the entire spectrum of wealth management and plan to add more investment offerings going forward.”


Chinese government teams up with WeChat to offer digital social security cards

China’s social security system turns to WeChat for electronic ID — South China Morning Post — “Government trials in 26 cities will have Tencent’s WeChat replace traditional state-issued social security cards with digital version tied to users’ accounts… The WeChat-based electronic social security cards will enable users to provide their identification, status, payment records and other relevant information to official online inquiries about benefits and insurance coverage.”


Maldives government combines passport, ID, driving license and payments on one contactless card

Maldives introduces most innovative ID card — Dermalog — “Maldives Immigration has just introduced a new, very innovative type of ID card: It can be used for payments, but also serves as a national ID card, as a driver´s license as well as a health card and insurance card. Last but not least it is also used like a passport for easy travelling… The new card is certified by the Bank of Maldives as well as by MasterCard.”



Orange to launch mobile-only bank with NFC payments and AI

Orange Bank

Mobile network operator Orange is to launch a mobile-only bank in France in July this year that will offer customers NFC mobile payments, P2P mobile transfers using SMS and an artificial intelligence-based virtual assistant that will eventually be able to complete tasks including making transfers and putting funds in savings. More



Proxama signs South African EMV deal

PARTNER NEWS: Proxama has signed a five-year contract with a “leading South African insurance and financial services provider” for the supply of in-house EMV card issuing, PIN management and card life cycle management... More



Free insurance offer for mobile wallet

Indian consumers using the FreeCharge mobile wallet will have their wallet balance of up to Rs 20,000 (US$293) insured free of charge, Economic Times reports, as long as they are making transactions using the service at least once a month, through a partnership with Reliance General Insurance... More






Vein recognition market to grow 27% a year

The global vein recognition biometrics market in the banking, financial services and insurance (BFSI) sector is set to grow at a compound annual growth rate (CAGR) of 27.83% from 2014-2019, research firm Technavio predicts... More