Contactless now the favoured way to pay for British shoppers as spending leaps 34 per cent since the start of 2017 — Barclaycard — “More than half (51%) of all transactions up to the eligible spending limit of £30 are now made using contactless… The amount spent by users of Barclaycard’s Android Contactless Mobile app has jumped by 90% in 2017.”
Links
Gemalto and Dessmann enhance smart lock security with mobile convenience
Gemalto and Dessmann enhance smart lock security with mobile convenience — Gemalto — PARTNER NEWS — “The new solution from the global manufacturer of smart locks and safe boxes incorporates Gemalto’s Machine Identification Modules (MIM) and Secure Elements (SE), empowering users to lock and unlock doors with their smartphones or create digital key chains for multiple locks.”
Meet the Chinese finance giant that’s secretly an AI company
Meet the Chinese finance giant that’s secretly an AI company — MIT Technology Review — “The smartphone payments business Ant Financial is using computer vision, natural language processing, and mountains of data to reimagine banking, insurance, and more… The company — which already operates a hugely successful smartphone payments business in China — aims to upend many areas of personal finance using machine learning and AI.”
PayPal chief dismisses Apple Pay challenge
PayPal chief dismisses Apple Pay challenge — The Telegraph — “Dan Schulman said the forthcoming Apple Pay Cash service did not have the advantages of PayPal’s peer-to-peer payments services… Mr Schulman suggested it would struggle to gain traction because it is not available on non-Apple devices, unlike PayPal.”
Chinese satellite relays a quantum signal between cities
Chinese satellite relays a quantum signal between cities — Wired — “This experiment was a crucial test for a budding technology called quantum cryptography, which uses quantum particles like photons to send secure information… Researchers like Lu and his colleagues think quantum cryptography could be the encryption tool of the future.”
Worldwide spending on the Internet of Things forecast to reach nearly $1.4 trillion in 2021
Worldwide spending on the Internet of Things forecast to reach nearly $1.4 trillion in 2021 — IDC — “A new update to the International Data Corporation (IDC) Worldwide Semiannual Internet of Things Spending Guide forecasts worldwide spending on the Internet of Things (IoT) to grow 16.7% year over year in 2017, reaching just over $800 billion. By 2021, global IoT spending is expected to total nearly $1.4 trillion.”
Cuscal partners with Samsung Pay
Cuscal partners with Samsung Pay — Cuscal — “Samsung Electronics Australia today announced a partnership with Cuscal, Australia’s leading independent provider of payment solutions that will enable 38 financial institutions to offer Samsung Pay… Cuscal joins Westpac, Citibank and American Express as Samsung Pay partners.”
Ease of use, data security are priorities for bank and credit card mobile app users, JD Power finds
Ease of use, data security are priorities for bank and credit card mobile app users, JD Power finds — JD Power — “More than two-thirds (69%) of study respondents indicate they have used a mobile payment service in the past 30 days. That number jumps to 76% among Millennials and Gen Z. This evidence suggests that efforts to integrate mobile payments with the mobile banking and credit card app experience would be beneficial.”
Paytm Mall to bring brick-and-mortar stores online via QR codes
Paytm Mall to bring brick-and-mortar stores online via QR codes — LiveMint — “Similar to QR stickers used for Paytm app, Paytm Mall QR codes will be unique for each retailer. Customers will be able to scan the code using their smartphones and get access to the store’s inventory online… Customers using the feature will also get access to exclusive offers on Paytm Mall.”
Amazon gives 2% rewards back to Prime members who deposit cash via their bank account
Amazon gives 2% rewards back to Prime members who deposit cash via their bank account — GeekWire — “Amazon Prime Reload gives customers 2% back when they reload their Amazon Gift Card Balance with a connected checking account and linked debit card. For example, if you load $100 onto your Gift Card Balance from your checking account, you’ll get an extra $2 in Amazon dollars added within minutes.”
Insights into the future of cash
Insights into the future of cash — Bank of England — “The value of Bank of England notes in circulation peaked in the run-up to Christmas 2016, reaching over £70bn for the first time — an increase of 10% on a year earlier. This is the fastest growth we’ve seen in a decade, and a giant leap compared to the £2.9bn when the ATM was born.”
Mobile biometrics in financial services: A five factor framework
Mobile biometrics in financial services: A five factor framework — University of Oxford — “Overall, users believe that biometric authentication is more secure (83%) and more convenient (92%) than passwords. Fingerprint recognition obtained marginally better results compared to face recognition, for both security and convenience.”
Android Pay to debut in August in Korea
Android Pay to debut in August in Korea — Business Korea — “At present, every one of the eight credit card companies in the country is discussing a joint Android Pay service with Google.”
Visa to roll out cashless experience at the FIFA Confederations Cup 2017
Visa to roll out cashless experience at the FIFA Confederations Cup 2017 — Visa — “Alfa-Bank guests will also be able to use a payment ring for the first time at a FIFA event. The payment ring, attached to a prepaid card, features an embedded NFC-enabled antenna, enabling fans to tap to pay throughout Russia, anywhere contactless payments are accepted.”
Rise of the technophobe – education key to tech adoption, says HSBC
Rise of the technophobe – education key to tech adoption, says HSBC — HSBC — “The study of more than 12,000 people in 11 countries reveals four in every five people (80%) believe that technology makes their lives easier but less than half (46%) trust fingerprint recognition to replace their password, despite it being recognised to be at least five times more secure and significantly more convenient than traditional passwords.”
Emirates Islamic is first Islamic bank to integrate blockchain technology into cheques
Emirates Islamic is first Islamic bank to integrate blockchain technology into cheques — Emirates Islamic — “Emirates Islamic will issue new cheque books carrying a unique QR (Quick Response) code on every leaf, along with a string of 20 random characters… In the next phase of the Cheque Chain project, the bank will have each cheque leaf registered on the Bank’s blockchain platform enabling it to validate the authenticity of the cheque at source.”
KT introduces ‘mother of all credit cards’
KT introduces ‘mother of all credit cards’ — Korea Herald — “Dubbed ‘Clip Card’ the device looks like credit and debit cards issued by financial institutions, but it has a 1.3-inch display on the surface of the card that enables users to register all their cards, which are displayed in barcodes… The KT platform is compatible with all types of credit cards regardless of card companies and financial institutions, and with any operating systems.”
WorldRemit adds Android Pay as secure option for migrant remittances
WorldRemit adds Android Pay as secure option for migrant remittances — Reuters — “Cross-border money transfer service WorldRemit is enabling its immigrant customer base to send money home using Android Pay, making it the first international remittance firm to run on the Google payments system.”
Nets rolls out preventative fraud service to protect online consumers across the Nordics
Nets rolls out preventative fraud service to protect online consumers across the Nordics — Nets — “The service is designed to mitigate two high growth instances of online fraud: ‘too good to be true’ clickbait offers and unsolicited direct debits, and works by continuously analysing data collected from card disputes to proactively identify and block transaction requests between consumers and fraudulent merchants.”
Zelle now live! in mobile banking apps today, a new way to pay
Zelle now live! in mobile banking apps today, a new way to pay — Zelle — “Beginning this month, more than 86-million U.S. mobile banking consumers will be able to send and receive money through Zelle… Beginning this week, and continuing on a rolling basis over the next 12 months, Zelle will become available in the mobile banking apps of more than 30 participating financial institutions.”