GMO Aozora Net Bank Ltd and Dynamics Inc introduce Japan’s first battery-powered interactive debit and cash card — Dynamics — “A consumer enters a pass code, known only to the consumer, into the keypad on the face of the card. The correct pass code turns the card on so that it can be used in any swipe, tap, or insertion reader via a magnetic stripe, contact or contactless EMV chip. Entering the correct pass code also activates the card’s display to show the consumer’s payment card number.”
PIN
Italian merchants to pilot PIN-on-mobile payments
Ingenico and Nexi test in Italy an innovative PIN-on-mobile solution compliant with Visa and Mastercard requirements — Ingenico — “With PIN-on-mobile, card owners manually enter their PIN on a non PCI-PTS device owned by a merchant, such as a smartphone or tablet. The transactions are considered as ‘card present’… This solution will be on a six-month trial period and the pilot project will include 1000+ secure card readers (SCR) to read EMV and contactless bank cards.”
PCI updates payment device standard to support PIN entry on mobile phones and tablets
PCI Security Standards Council updates payment device standard to support software-based PIN entry on COTS — PCI Security Standards Council — “The updated device standard supports the development of PCI software-based PIN entry on COTS (SPoC) solutions for merchants that enable EMV contact and contactless transactions with PIN entry on commercial off-the-shelf (COTS) devices, such as tablets and smartphones.”
Dejamobile unveils seamless banking and mobile payments enrolment service
PARTNER NEWS: Banks can now use a service from NFC payments specialist Dejamobile to let new customers open a bank account, confirm their identity using approved Know Your Customer (KYC) procedures, request and receive an NFC bank card and begin making mobile payments — all from their smartphone and in under five minutes... More
Consumers call for biometric logins to financial services apps
IBM Future of Identity study: Millennials poised to disrupt authentication landscape — IBM — “Security was vastly ranked as the top priority for banking, investing, and budgeting apps — for these categories on average 70% selected security as the top priority, with 16% selecting privacy, and 14% selecting convenience… 44% ranked fingerprint biometrics as one of the most secure methods of authentication; passwords and PINs were seen as less secure (27% and 12% respectively).”
PCI publishes specifications for PIN entry on mobile phones and tablets
PCI Security Standards Council publishes security requirements for software-based PIN entry on COTS devices — PCI Security Standards Council — “The PCI Software-Based Pin Entry on Cots (SPoC) standard provides requirements for developing secure solutions that enable EMV contact and contactless transactions with pin entry on the merchant’s consumer device using a secure pin entry application in combination with a Secure Card Reader for Pin (SCRP).”
Mastercard to mandate biometric security for online and mobile payments in Europe
Biometric identification must be made available for all Mastercard users by April 2019 — Mastercard — “All consumers will be able to identify themselves with biometrics such as fingerprints or facial recognition, when they shop and pay with Mastercard by April next year… Banks issuing Mastercard-branded cards will have to be able to offer biometric authentication for remote transactions, alongside existing PIN and password verification. It will also apply to all contactless transactions made at terminals with a mobile device.”
US survey finds growing support for biometrics as a replacement for passwords and PINs
Visa survey reveals consumers are ready to say goodbye to passwords — Visa — “Seventy percent of respondents find biometrics easier than passwords and 61% consider it faster. Fewer than a third of consumers use unique passwords for each of their accounts. Fifty percent of consumers responded that the top benefit of using biometrics is eliminating the need to remember multiple passwords or PINs, followed by 46% who said that biometrics is more secure than passwords or PINs for verifying identity.”
Japanese bank to combine fingerprint and vein verification for cardless transactions at ATMs and teller windows
Mofiria provides Aeon Bank with new hybrid biometric device — Mofiria — “Aeon Bank Ltd, a Japanese new style bank, has announced that they have introduced a whole new biometrics authentication system to their ATMs and teller windows, which allows the customers to do any bank transactions without using a bank card nor entering PIN number… Aeon Bank has introduced this system to five branches for the proof of concept and they have a plan to introduce it to all branches by October 2018.”
Samsung looks to palm recognition to secure mobile devices
Samsung’s new phones might literally read the palm of your hand — Futurism — “Recent patent filings by the South Korean electronics giant show that the company may be investing in yet another means of biometric scanning. Samsung’s palm recognition technology would join other biometrics, such as facial recognition and fingerprint scanning, along with standard passwords, pin numbers, and patterns as a means of securing your device.”
EU gives payments industry 18 months to implement strong customer authentication
Payment Services Directive (PSD2): Regulatory Technical Standards (RTS) enabling consumers to benefit from safer and more innovative electronic payments — European Commission — “The RTS makes strong customer authentication (SCA) the basis for accessing one’s payment account, as well as for making payments online. This means that to prove their identity users will have to provide at least two separate elements out of these three: something they know (a password or PIN code); something they own (a card, a mobile phone); and something they are (biometrics, eg fingerprint or iris scan)… The use of SCA will become mandatory 18 months after the entry into force of the RTS, ie once the RTS is published in the Official Journal of the EU, scheduled for September 2019.”
Da Vinci develops payment card with built in screen and keyboard
Give your PIN to strangers with this bank card of the future — The Memo — “There’s a new card arriving, designed and created by Simon Hewitt, the former chief security officer of one of Australia’s biggest banking groups… At first glance Da Vinci Choice, as the card’s called, looks no different to any other card in your wallet or purse — thin and plastic-y. Flip it over and the magic begins, because the entire back of the card is a tiny computer, complete with a screen and keypad.”
NXP cuts card transaction times, adds fingerprints to cards
PARTNER NEWS: NXP is to unveil a new fingerprint-on-card solution at Money20/20 that combines a dual interface card with an integrated fingerprint sensor... More
Wells Fargo adds NFC cash withdrawals at 5,000 ATMs
More than 5,000 Wells Fargo ATMs launch NFC-enabled mobile wallet capability — Wells Fargo — “A customer can initiate an ATM transaction by signing into leading mobile wallet features, such as Wells Fargo Wallet for Android, Apple Pay, Android Pay or Samsung Pay, found on mobile phones. They simply hold their phone or wearable device with mobile payment functionality near an NFC-enabled ATM terminal… The customer will then input their Wells Fargo Debit or EasyPay card personal identification number (PIN) and complete their transaction.”
M-Pesa rolls out contactless tags and wristbands for faster mobile money transactions in stores
Safaricom extends M-Pesa 1Tap — Safaricom — “Following successful trials over the last four months in Nakuru, Safaricom has today announced the availability of M-Pesa 1Tap in Nairobi, Mombasa, Kisumu, Eldoret and Nyeri… To make a payment, a merchant will key in the payment amount into their device, tap the customer tag, and the customer will then key in their pin on their phone to validate the payment. This cuts down the steps involved from more than eight steps using the M-Pesa tool on SIM cards to just one step for the customer.”
AirPlus staff test cards with built-in fingerprint readers
AirPlus pilots biometric corporate card — Business Travel News — “Payments provider AirPlus is testing a biometric corporate card for which users can use a fingerprint rather than a pin at checkout, AirPlus head of research and development Uli Danz told BTN… The card may not be available to clients for a while because, as Danz told BTN, “in the credit card business there are a lot of rules, and the rules are not yet set for biometrics or fingerprints on card.”
Bank of America rolls out cardless ATM withdrawals
Bank of America debuts new mobile tools focused on personalization — Bank of America — “Customers can now start an ATM withdrawal directly from their mobile banking app. Customers simply log into the app and select the desired amount to withdraw. When they arrive at the ATM, they can either use their smartphone or debit card, enter their pin, and a personalized screen will display asking the customer if they are here to complete the withdrawal, which eliminates four steps at the ATM.”
ANZ first Australian bank to roll out voice ID for mobile banking
ANZ first Australian bank to roll out voice ID for mobile banking — ANZ — “This is a significant security update that will make it easier for our customers to complete high-value transactions on their smartphones… Customers can now make ‘Pay Anyone’ payments of more than A$1,000 on their mobile without needing to log into internet banking, or remember additional passwords or pins.”
Mastercard lets Polish merchants accept payments with just their smartphones
Two hundred small businesses are to participate in a pilot that lets them accept contactless payments using just a mobile app on their NFC smartphones... More
Visa moves to kill PINs by pushing Aussie banks towards biometric authentication
Visa moves to kill PINs by pushing Aussie banks towards biometric authentication — The Australian Financial Review — “A new Visa security roadmap outlines a four-year process for Australian banks to adopt new standards for e-commerce transactions, designed to streamline the purchasing process and reduce fraud, while implementing new information-sharing practices and tokenization technology.”