Apple Pay set to launch in Korea
Apple Pay will go live in South Korea with support from Hyundai Card in the next few months, according to local media reports that cite statements from the two companies... More
Regulation
MEPs approve draft legislative framework for European Digital Identity Wallet
The European Union’s Industry, Research and Energy Committee has approved a proposed update to the European Digital Identity Framework that will enable the issuance and usage of the EU’s European Digital Identity Wallet and enable EU citizens to store digital identity credentials on their smartphone... More
UK updates Highway Code to allow drivers to make mobile payments from their vehicle
The UK government has published an updated version of The Highway Code governing the use of public roads that incorporates a clause permitting drivers to make a contactless payment at a contactless payment terminal from their vehicle using their mobile device... More
European Parliament passes law that requires Apple to open up its NFC chip
The European Parliament has adopted the Digital Markets Act (DMA) that will obligate Apple, Google and other “gatekeeper” technology companies to allow app developers and third-party service providers access to device functionalities “such as near-field communication technology, secure elements and processors, authentication mechanisms and the software used to operate those technologies”... More
New EU law to force Apple to open up its NFC chip?
Negotiators from the European Parliament and the European Council have provisionally agreed the text of a Digital Markets Act (DMA) that will obligate “gatekeeper” technology companies such as Apple and Google to “allow app developers fair access to the supplementary functionalities of smartphones (eg NFC chip)”... More
EU to file antitrust charge against Apple over NFC chip access
The European Commission is preparing to file an antitrust charge against Apple over the company’s limitation of access to its NFC chip technology, “people familiar with the matter” have told Reuters... More
CBA: 80% of digital wallet payments in Australia made from Apple devices
Eight in ten (80%) in-person contactless payments made from digital wallets using Commonwealth Bank of Australia (CBA) debit and credit cards are made by tapping an Apple device, the bank has told a government inquiry into mobile payments and digital financial services... More
South Korea passes law to open up app store payments to competing payment services
The South Korean parliament has passed a bill that will require companies such as Apple and Google to allow the use of payment services other than their own proprietary systems for the purchase of digital goods within their app stores... More
Germany and Spain to test cross-border digital identity ecosystem
The governments of Germany and Spain have signed a memorandum of agreement to cooperate on the design, development and piloting of a cross-border digital identity ecosystem that will enable citizens to verify their identity and access digital services in both countries... More
Australian public hearing considers case for regulatory controls to ensure payment apps get access to smartphone NFC technology
An Australian parliamentary committee has held a public hearing at which it heard evidence from representatives of leading Australian banks, payment services providers and other financial bodies on regulatory issues including whether companies such as Apple should be mandated to allow third-party payment apps access to a smartphone’s NFC chip... More
Oman to make it mandatory for all merchants to accept cashless payments
All merchants and other commercial enterprises across the Sultanate of Oman will be obligated to offer customers the option of making cashless payments for goods and services from 1 January 2022... More
Dutch regulator calls for extra EU rules to ensure payment app access to smartphone NFC technology
The Netherlands Authority for Consumers and Markets (ACM) is calling for amendments to current European Union legislation in order to ensure companies such as Apple provide payment apps with access to a smartphone’s NFC chip to give users a choice of in-store payment methods on their device... More
El Salvador makes bitcoin legal tender
El Salvador has become the first country in the world to adopt bitcoin as legal tender, allowing citizens to use the cryptocurrency to make payments for goods and services as well as pay their tax bills and receive remittances from abroad... More
Bank of England sets out core principles for digital pound
Financial inclusion, creating a competitive ecosystem, comparison with other payment innovations, user privacy and monetary and financial stability will be the five core principles that guide the Bank of England’s future exploration and development of a central bank digital currency (CBDC) in the UK, the financial institution has revealed... More
Most UK retailers say strong customer authentication is not a key concern for post-pandemic recovery
Only one in six (12.8%) UK merchants rates the introduction of strong customer authentication (SCA) for online payments as a big business concern as the economy recovers from the Covid-19 pandemic, according to a survey published by Signifyd... More
Korea to let banks add food ordering services to mobile apps
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... More
India increases contactless limit by 150%
The Reserve Bank of India (RBI) is to raise the limit for contactless card transactions from Rs2,000 (US$27) to Rs5,000 ($67.67) from 1 January 2021, an increase of 150%... More
Lebanon to issue digital currency in 2021
Banque du Liban, the central bank of Lebanon, is preparing to launch a central bank digital currency (CBDC) next year, the bank’s governor Riad Salameh has told a meeting of the Lebanese Depositors Association... More
India bans mobile payment providers from launching new proprietary QR codes
Payment system operators in India can no longer issue new proprietary QR codes for mobile payments, the Reserve Bank of India (RBI) has announced... More
EU to report on its investigation into Apple Pay next week?
The European Union is to publish a report next week that will provide further information on the results of its investigation into Apple Pay and could lead to new legislation forcing Apple to provide more open access to the NFC chip in its devices, according to “documents obtained by Bloomberg”... More
