Alipay has warned customers that have linked their accounts to their Apple ID to lower their transaction limits, Reuters reports, due to hackers who “have taken an unknown amount of money from accounts using stolen Apple Inc IDs.”... More
Transaction limit
Survey finds contactless payments make it harder for consumers to track their spending
A new survey has revealed that a significant minority of British consumers think that contactless payments lead to them losing track of their spending or laying out more than they intended... More
SPA white paper examines the potential of bank cards with built-in biometric sensors
KNOWLEDGE CENTRE: Biometric sensor-on-card solutions, where a fingerprint sensor is built into a standard EMV card, “represent an important step forward for the finance industry, opening the way to eliminating fraud for issuers and cardholders, reducing costs and providing the additional security and identity verification required to support remote or cross-border transactions,” the authors of a new white paper conclude... More
China’s central bank caps static QR code transactions at US$76
China begins regulating QR code payments — The Verge — “The regulations will initially cap payments by traditional QR codes to 500 yuan, or about US$76. When additional security measures are applied, the cap can raise to 5,000 yuan, or around U$765. At an even higher security level, banks and payment processors are given discretion over the cap.”
UK consumers want to set their own contactless transaction limit
Research – Shoppers keen to set their own contactless card limit — Paymentsense — “Nearly half (48%) of shoppers would like to customise their contactless card transaction limit, or would like to the ability to do so, according to new research from Paymentsense. For those shoppers wanting a customisable limit, just over a quarter (26%) would immediately raise it, but nearly one in five people (18%) would lower it.”
