What's New in Payments

Mobile payment overtakes contactless cards for young Irish consumers

Impact of Covid-19 on spending behaviour revealed as more Irish consumers using contactless and digital wallets — AIB — “Digital wallet (Apple Pay and Google Pay) spend now accounts for 37% of all in-store transactions by those who are under 25… Contactless using a debit card is the most popular choice of in-store payment method among all age cohorts, except those under 25 where it accounts for 28% of spend.”






NFC World

Google offers $1m Titan M secure element bug bounty

Expanding the Android Security Rewards Program — Google — “The Android Security Rewards (ASR) program was created in 2015 to reward researchers who find and report security issues to help keep the Android ecosystem safe… Today, we’re expanding the program and increasing reward amounts. We are introducing a top prize of $1 million for a full chain remote code execution exploit with persistence which compromises the Titan M secure element on Pixel devices.”


Brits warm to biometric verification

Just under half of British consumers are ready to completely replace traditional verification methods with biometrics for withdrawing cash (46%), starting their car (45%) and unlocking their front door (41%), according to new research from Equifax... More


What's New in Payments

RBR reports 10% growth in global payment card market

Continued growth in China cements UnionPay as the world’s largest card scheme — RBR — “There were 16bn payment cards in circulation at the end of 2018, up by 10% since a year earlier… The largest scheme worldwide is UnionPay, which accounted for 45% of cards in circulation at the end of 2018… Visa (including Visa, Visa Electron, V Pay and Interlink) made up 20% of the world’s cards… Mastercard (Mastercard, Maestro and Mastercard Electronic) accounts for 16% of all cards.”






What's New in Payments

Researchers showcase method for bypassing contactless card limit

Hack breaks your Visa card’s contactless limit for big frauds — Forbes — “To carry out their hack, the researchers used a specialised piece of hardware to intercept and insert messages in the communications between the card and the reader. For instance, they could tell the card that verification — like a PIN — wasn’t needed, even though the requested amount was more than £30. They then told the terminal that verification has already been made by another means.”