UK’s Open Banking project expanded — Open Banking — “The OBIE [Open Banking Implementation Entity] has now been asked by the CMA9 and Her Majesty’s Treasury to create open banking standards for all payment account types covered by the European Union’s second Payments Services Directive (PSD2). This means customers using credit cards, e-wallets and prepaid cards will also be able to take advantage of open banking services.”
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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.”
Swiss consumers to get single digital ID
Just one password? Swiss groups plan single online identity — Reuters — “Swiss consumers will be able to use a single digital identity to buy online products and services under a project unveiled on Tuesday by nine big companies. The aim is to let people use just one login profile to order in shops, buy train tickets or do banking transactions, according to the consortium… It includes UBS, Credit Suisse, Swisscom, Swiss Post, stock exchange operator Six, Raiffeisen, Swiss Railways, Zuercher Kantonalbank and insurer Mobiliar.”
Boston to introduce NFC and contactless transit ticketing
Paying for a ride on the T could look very different in three years — Metro — “The MBTA on Monday moved towards overhauling its fare collection system to eliminate cash from its trolleys and buses and to give riders the ability to pay onboard with a credit card or smartphone… Riders will no longer be able to pay with cash on buses or the Green Line, eliminating transactions that cause delays and frustration for other passengers.”
UK challenger bank Monzo lets account holders save funds in flexible pots
Launching Pots! — Monzo — “To help you save for specific things, we’ve created Pots: a simple way to set money aside within your main Monzo account. Whether you’re planning a trip around the world, looking to buy a new laptop, or simply saving for a rainy day, pots can help you work towards your modest goals and grandest plans… Creating a pot takes seconds, simply give it a name and add an image… You can set up multiple pots for different purposes, and see an overview of all your money under the Account tab in your app.”
Samsung Pay goes live in Mexico
Samsung Pay officially launches in Mexico — Neowin — “Samsung’s mobile payment solution, Samsung Pay, is set to make its debut today (Nov 21st) in Mexico. Customers interested in using the service have to register first; after approval, users can add their credit/debit card and start using it to pay for products using their mobile devices.”
Issuers to adopt common QR code for payments in Singapore from 2018
Common Singapore QR code to be rolled out next year — Channel News Asia — “A common Singapore Quick Response Code (SG QR) will be rolled out and adopted by payment service providers in Singapore next year, the Monetary Authority of Singapore (MAS) said on Monday… Payment services providers in Singapore have also committed to update their mobile payment apps for consumers to read the SG QR. The newly announced NETS QR will be part of SG QR as will other payment service providers such as Singtel Dash QR.”
Norwegian banks to form joint venture in bid to combat threat of global tech giants
Norwegian banks to combine payment units Vipps, BankAxept, BankID — Reuters — “Norwegian banks agree to combine payment units Vipps, BankAxept and BankID Norge to improve product offering and prepare for competition against global tech firms… DNB CEO Rune Bjerke said: “We have two choices. Either let the existing payments infrastructure wither away, or join forces and push forward.”
ABN Amro includes access to Tikkie payments in new developer APIs
ABN Amro launches its developer portal — ABN Amro — “Besides providing APIs that allow commercial clients easy access to their checking accounts, the bank also offers use of building blocks for sending Tikkie payment requests and sending bulk payment orders. This is also part of ABN Amro’s preparations for the European Payment Services Directive 2 (PSD2) laws, which – starting in 2018 – will allow regulated third parties to access the checking accounts of clients that have granted permission.”
Wembley to let fans store contactless tickets in their Apple Wallet
Contactless ticketing at Wembley Stadium — Wembley Stadium — “The innovation offers fans a new way to seamlessly and securely enter live events with contactless tickets added to Apple Wallet on their iPhone or Apple Watch… The integration of contactless tickets in Apple Wallet will simplify customers’ experience while enhancing security and fostering more personalised engagement with fans. As well as entering the stadium with their contactless tickets, fans can use Apple Pay to buy food and beverages with their iPhone or Apple Watch.”
Amazon moves closer to rollout of automated stores
Amazon’s cashierless store is almost ready for prime time — Bloomberg — “For the past year, Amazon employees have been test driving Amazon Go, an experimental convenience store in downtown Seattle. The idea is to let consumers walk in, pick up items and then pay for them without ever standing in line at a cashier… In a sign that the concept is almost ready for prime time, hiring for the Amazon Go team has shifted from the engineers and research scientists needed to perfect the platform to the construction managers and marketers who would build and promote the stores to consumers.”
Apple details its face detection algorithm
An on-device deep neural network for face detection — Apple — “Apple started using deep learning for face detection in iOS 10. With the release of the Vision framework, developers can now use this technology and many other computer vision algorithms in their apps. We faced significant challenges in developing the framework so that we could preserve user privacy and run efficiently on-device. This article discusses these challenges and describes the face detection algorithm.”
Garmin Pay goes live in US, Switzerland, Russia and Australia
Garmin and NXT-ID subsidiary FitPay announce Garmin Pay now live on Garmin Vivoactive 3 smartwatch — NXT-ID and Garmin International — “The new contactless payment capability is powered by the FitPay payment platform and available initially for Mastercard cardholders from numerous issuing banks and credit unions including BECU, Capital One, First Tech Federal Credit Union, and US Bank in the United States, and internationally through Commonwealth Bank of Australia, Cornèrcard, Sberbank of Russia, and Swiss Bankers Prepaid Services Ltd.”
Microsoft rebrands wallet as Microsoft Pay
Microsoft Wallet is now Microsoft Pay: New app appears in Store — On MSFT — “Microsoft Wallet has changed its name to Microsoft Pay… Microsoft Pay was included in the Windows 10 Creators Update, but only now Microsoft Wallet has updated to reflect the name change. Microsoft Pay is developed for use with Windows 10 and Windows 10 on Arm devices.”
ICICI Bank partners with Paytm to offer instant loans during checkout
Paytm-ICICI Bank Postpaid: Now get instant digital credit in your mobile wallet — BGR — “While checking out, customers will see a ‘Pay Later’ option, and on clicking it, their credit score would be calculated instantly. ICICI Bank will arrive at the credit score based on behavioral data from Paytm, the bank’s own customer data, and financial data from the credit bureau.”
Apple GymKit with NFC goes live in Australia
GymKit launches today in Australia, automatically sync workout data between Apple Watch and gym equipment — 9to5Mac — “The first gym to feature GymKit-compatible equipment is now up and running in Australia. Users just tap their watches to the treadmill (or other GymKit equipment) using NFC, and they start sending data back and forth automatically… The idea is that the watch and the paired gym machine have better knowledge about different aspects of the workout. GymKit allows that data to be shared back and forth, as appropriate.”
Video shows that children could use Face ID to unlock their parents’ iPhone X
This 10-year-old was able to unlock his mom’s iPhone using Face ID — The Verge — “While Apple has admitted that false positives can happen, it was thought this could only happen with twins, or siblings under the age of 13. However, a new video has popped up showing a 10-year-old unlocking his mother’s iPhone, suggesting that any family members who bear enough resemblance might be able to bypass the system.”
UK supermarkets to test face recognition for proof-of-age at self-checkout tills
Supermarket self-service tills replace ID checks with facial recognition — The Telegraph — “The technology will be used to remove in-person age checks when customers are buying alcohol and other age restricted items… Using Yoti at a self service till would involve a QR code showing up on the checkout screen, which could be scanned by the app. The Yoti app would then scan the shopper’s face to confirm their identity, and would then connect to the till over the internet to verify the purchase.”
Challenger bank lets customers activate their debit card with their NFC phone
Tap to activate your debit card — Monzo — “If you use Monzo on Android (and have a device that supports NFC), you’ll now be able to activate your new Monzo debit card just by tapping it on your phone… Rather than typing in the card number, or even having to take a picture, simply tap your card and phone together to activate it immediately.”
Mastercard applies for blockchain ‘instantaneous payment’ patent
Method and system for instantaneous payment using recorded guarantees — USPTO — “The present disclosure relates to the use of recorded guarantees for payment transactions for verification by acquiring institutions to facilitate instantaneous payment to a merchant involved in the payment transaction, specifically the use of a blockchain or other third party network for verification of a guarantee associated with the payment transaction.”