What's New in Payments

Rakuten to use blockchain for global loyalty and payments program

Rakuten will roll its $9bn loyalty program into a new blockchain-based cryptocurrency, Rakuten Coin — Techcrunch — “The company is planning a new cryptocurrency called Rakuten Coin — built on blockchain technology and the company’s existing loyalty program, Rakuten Super Points — which it plans to use to encourage loyalty services globally and to help customers to buy goods across different Rakuten services and markets… The news was announced by Rakuten’s CEO Hiroshi “Mickey” Mikitani on stage at Mobile World Congress in Barcelona, where he described Rakuten Coin as a ‘borderless’ currency.”


What's New in Payments

Amazon tests its own QR codes

Amazon is experimenting with its own QR code style ‘SmileCodes’ — Techcrunch — “Amazon has apparently been testing these codes in pop-up shops and Amazon Lockers in Europe for a few weeks now, but the company says these codes will make their US debut in a few different magazines (Cosmopolitan and Seventeen) come February… It’s probably safe to assume we’ll eventually see Amazon tinker with putting these codes on another massively common canvas: its own boxes.”


What's New in Payments

Barclays trials digital receipt service

Fintech startup Flux partners with Barclays for itemised receipts — Techcrunch — “Flux, the London fintech startup founded by former early employees at Revolut, has announced a partnership with Barclays in the UK that will see it trial its itemised receipt technology with 10,000 of the bank’s customers… On the merchant side, the trial also sees Flux partnering with Barclaycard, which will provide the ability for merchants, via integration through their point-of-sale devices, to issue digital receipts to any customer.”


Apple: No change to Face ID quality and accuracy

Apple says claim that it reduced accuracy of Face ID to meet demand is ‘completely false’ — Techcrunch — “The statement from Apple: Customer excitement for iPhone X and Face ID has been incredible, and we can’t wait for customers to get their hands on it starting Friday, November 3… The quality and accuracy of Face ID haven’t changed. It continues to be one in a million probability of a random person unlocking your iPhone with Face ID.”


What's New in Payments

Amazon puts new focus on its Amazon Coins virtual currency

Amazon debuts a new Appstore app with better discovery, focus on Amazon Coins — Techcrunch — “Introduced in 2013, the Amazon Coins platform represents a different means of encouraging consumers to pay for apps and in-app purchases. Instead of seeing a dollar amount associated with their purchase, app developers show the purchase amount as coins… The idea is that the more Coins you purchase, the more you’ll save on the purchase amount. For example, 100 Amazon Coins are worth $100, but when you buy them in larger bundles, they cost less. With the highest package, customers can save up to 22% on their Coin purchases.”


What's New in Payments

Apple Pay reaches 20 countries, representing 70% of the world’s card transaction volume

Apple Pay now in 20 markets, nabs 90% of all mobile contactless transactions where active — Techcrunch — “Bailey also announced that the service is launching in Denmark, Finland, Sweden, and the UAE in the next few days, bringing the total number of countries where it is used up to 20. And she said that 4,000 issuers worldwide now work with the wallet… While these may not sound like massive numbers on their own, 20 markets represents a full 70% of the world’s card transaction volume, she noted.”


NFC World

Baseball team uses iOS 11 to issue NFC tickets to fans

An MLB team is using the iPhone’s NFC feature for contactless stadium entry — Techcrunch — “The Oakland Athletics are piloting a new NFC ticketing solution which lets fans enter the stadium by tapping their phone (or Apple Watch) to a ticket scanner — just like you’d do to use Apple Pay. The feature uses the NFC technology that is used for contactless rewards cards (like Walgreens Balance Rewards) via Apple Pay, and this is the first time the technology is being used outside of reward cards or stored balance gift cards.”


Apple to release Face ID security paper

Interview: Apple’s Craig Federighi answers some burning questions about Face ID — Techcrunch — “Federighi also noted on our call that Apple would be releasing a security white paper on Face ID closer to the release of the iPhone X. So if you’re a researcher or security wonk looking for more, he says it will have ‘extreme levels of detail’ about the security of the system.”



Jet.com is installing Latch access systems in 1,000 NYC apartment buildings for easier deliveries

Jet.com is installing Latch access systems in 1,000 NYC apartment buildings for easier deliveries — TechCrunch — “Residents can use their phone as a key, grant access to guests without walking downstairs and of course get packages delivered safely without being home. Building managers can also use Latch’s system to grant access to trusted delivery providers like USPS at their discretion, but all of these 1,000 units will already be set up to provide access to Jet’s delivery partners.”





What's New in Payments

Apple details Touch ID and PC-to-phone payment security features

A new security white paper on Apple’s iOS 10 provides details about security improvements made to Touch ID as well as insight into the security infrastructure behind a feature of the operating system that makes it possible for developers to enable Apple Pay users to start a payment on a computer and finish it on their phone, Techcrunch reports... More