Payments: contactless charitable cases
Charities large and small are waking up to the need to embrace contactless payments. Banking Technology looks at the drivers, challenges and opportunities.
Contactless
Banking Technology December 2017/January 2018 issue out now
In the eye of the storm we provide clarity.
Erste Austria chooses G+D Mobile Security for mobile payments
Erste Bank und Sparkassen with its “George Go” app has become Austria’s first mobile payment wallet based on host card emulation (HCE) technology, powered by G+D Mobile Security’s Convego CloudPay solution.
Wirecard provides paytech to Orange Bank
France’s latest mobile bank, Orange Bank, is getting its mobile payment and banking services underpinned by Wirecard. The paytech vendor says it is providing “all the technical components integrated into the Orange Bank platform to manage their mobile payments”.
Top fintech stories this week – 3 November 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
NYC public transport set to go contactless
New York to roll out a contactless fares system across its public transport network, based on the system developed by Transport for London (TfL).
Wells Fargo launches mobile “tap and pay” functionality at 5,000 ATMs
More than 5,000 ATMs of Wells Fargo (40% of its ATM network) now have near-field communication (NFC) enabled mobile wallet capability – i.e. the bank’s debit card customers can now “tap and pay”.
Timex and Barclaycard collaborate to create contactless payment watch
Timex and Barclaycard have partnered in true style to produce a new range of contactless payment watches. The Fairfield Contactless promises to be a perfect fusion of style and smart functionality. Coming in at a retail price of £159, it’s all about the leather bPay embedded strap, which brings wearable technology to the wrist. bPay […]
Factors in the Long Wait for EMV and Contactless in the U.S.
As some celebrate 10 years of contactless payments, Bastian Knoppers discusses why cards (not mobile wallets) are still king outside the U.S. and what it will take for the U.S. to catch up to the rest of the world on tap-and-go payments.
Mastercard pumps up payments with Fitbit’s first smartwatch
Mastercard is bringing its contactless payments to Fitbit’s first smartwatch, Fitbit Ionic.
Juniper predicts major global shift to contactless on heels of US EMV push
A new study from Juniper Research is forecasting that more than half (53%) of global transactions at the point of sale will be contactless within five years, compared with just 15% this year, reports Banking Technology‘s sister publication Paybefore. The new research, “POS & mPOS Terminals: Vendor Strategies, Positioning & Market Forecasts 2017-2022,” expects adoption in the US […]
FitPay and Mastercard take prepaid to wearables and IoT
FitPay Inc, a US-based provider of payment, credential management and authentication platform services, is planning to offer prepaid capabilities on wearable and other devices connected to its FitPay Payment Platform.
Mastercard Makes Digital Payments Push in Asia-Pacific Transit
Mastercard is making headway in advancing digital payments for transit passengers in Australia and bike-sharing consumers in Singapore.
Danes gain easier mobile way to pay for groceries
Dankort, the national debit card of Denmark, has made shopping easier for consumers using iPhones.
Contactless Fraud Scare? Not So Fast.
Breathless reports point to a terrifying increase in U.K. contactless fraud. Dig a little deeper, however, and the story changes.
British judge calls contactless cards “quite ludicrous”
A UK judge has taken a swipe at contactless card payments because they make life too easy for criminals. According to the BBC, Exeter Crown Court recorder David Bartlett says it is “quite ludicrous that the banks have allowed this to happen”, after hearing how a card was used by a thief to buy goods […]
Contactless payments ramp up in 2017
Following the announcement WhatsApp will enter into the mobile payments arena, new estimates from Juniper Research claims Apple Pay contactless users will nearly double over 2017.
Deutsche Bank launches new mobile payment app
Deutsche Bank has launched a new mobile payment app for Android devices.
Samsung’s Newest Payments Push Aims to Bring Contactless to the Masses
Hoping to bring “digital cash to everyone,” Samsung has introduced a chip platform that can enable contactless payments in watches, wristbands, key fobs and perhaps even clothing.
Mastercard and Singapore’s transport authority test contactless cards while eying mobile payments
Mastercard and the Land Transport Authority (LTA) in Singapore have teamed up to launch a pilot programme enabling commuters to pay for transit fares using contactless payment cards through an account-based ticketing (ABT) system.
Mastercard, Transport Authority Test Contactless Cards While Eying Mobile Payments
Mastercard and the Land Transport Authority (LTA) in Singapore have teamed up to launch a pilot program enabling commuters to pay for transit fares using contactless payment cards through an account-based ticketing (ABT) system. Although the tap-and-go pilot hasn’t begun yet, the next step of enabling consumers to use mobile wallets and wearables already is in the works.
Mogo’s New Prepaid Product Taps into Growing Canadian Market
Mogo, a Canada-based fintech firm, has launched what it describes as the country’s first prepaid digital spending account managed through a mobile app. The debut of the Mogo Spending Account and the Mogo Platinum Prepaid Visa comes amid robust growth in prepaid transactions in Canada.
Barclaycard strikes new payments deal with TfL
Barclaycard has retained its contract to provide payment solutions to Transport for London (TfL) in the UK for another seven years, with an option to extend for a further three years. TfL and Barclaycard have worked together for two decades, and the former is expanding its network. We assume that Barclaycard didn’t go on strike […]
One in four UK card payments now contactless
According to the UK Cards Association, a trade body for the country’s card payments industry, a quarter of all card transactions are now made via contactless in the UK. 325 million purchases, altogether worth £2.9 billion, were made using contactless debit and credit cards in November 2016.
MDM Bank launches single-tap mobile payments; OpenWay provides tech
One of Russia’s major banking players, MDM Bank, has rolled out a single-tap Mastercard Contactless mobile payments option. The service is underpinned by the WAY4 Host Card Emulation (HCE) technology from OpenWay. MDM Bank’s customers can now pay from their Mastercard account with no need to enter a password or PIN code or even activate […]
Android Pay now in the UK; Australia and Singapore are next
Android Pay is now available in the UK, and more countries are on the way. Banking Technology first reported on this initiative in March this year. UK consumers can now pay for goods and services with their Android smartphones. Retailers like Boots, Waitrose and Starbucks are already onboard, and so is Transport for London (underground, […]
Consumer payments: the contactless landscape
Nick Kerigan, managing director of future payments at Barclaycard, lends his expert view on the changing consumer payment landscape and maps the journey to contactless card payments and beyond. Kerigan leads the team that looks at payment and competitor intelligence, and is responsible for driving innovation across Barclaycard. Last year was a milestone in UK […]
Smartphones? Credit cards are the most mobile payment method!
The world has been talking about “mobile payments” for years, but the phrase means different things to different people. So what exactly are mobile payments? And how much more mobile than cash or cards can payments actually get, asks Philipp Nieland, co-founder and CTO of PPRO Group. Some people believe that mobile payments are those […]
Challenger banks must strike the right balance between mobile and card
NFC mobile payments continue to grab headlines, but to really drive uptake and ensure full market coverage, combining contactless cards with next-gen mobile banking apps is surely the right way to go for 2016’s challenger banks, says Paul Underwood, MD of Thames Card Technology. Much has already been said about the opportunity for challenger banks to […]
Securing the future of NFC?
Ever since the deployment of Apple’s NFC solution – ‘Apple Pay’, and the various competitors launches since, there’s been speculation around what the future holds for consumer payments and how security will impact it
Apple’s arrival will change the payments landscape – eventually
Apple may have lined up the chief executives of Bank of America and JP Morgan Chase to laud the launch of Apple Pay, but reaction from the wider industry was more muted – disappointed, even.
Getting ready for mobile payments
With the penetration of mobile devices, such as smartphones and tablets constantly growing, attention is increasingly turning to mobile marketing, mobile commerce and mobile payments. It is still the case, however, that these trends are largely played out in specialised media, and do not influence the actual behaviour of consumers. This is especially true for mobile payments, with consumers very sceptical about this concept
London Underground goes contactless as EE unveils NFC plans
London Underground, DLR and Overground trains are to accept contactless payments, following an announcement from Transport for London. The decision comes as mobile operator EE sets out plans to support NFC payments on London Underground, the UK’s biggest building society begins issuing contactless cards to its customers, and Apple explores cooperation with Visa on a potential new mobile wallet.
HCE and NFC: threat or opportunity?
Mobile NFC services continued to expand in 2013 but the big question is, will this be amplified or disrupted by the introduction of host-based card emulation (HCE) into mainstream operating systems?
Online transactions to touch $5 trillion in four years’ time
The annual transaction value of online, mobile and contactless payments will nearly double over the next four years, reaching $4.7 trillion by 2019, up from just over $2.5 trillion this year, with contactless payments primarily driven by card purchases rather than mobile.
Small financial institutions must face the mobile challenge
As contactless and mobile payment methods continue to grow, building societies and other financial institutions need to avoid being complacent about new technology, according to senior delegates speaking at the BSA annual conference in Manchester this week.
NFC at heart of Brazilian bank’s mobile payments plans
Brazilian banking group Bradesco is planning to roll out NFC mobile payments across Brazil by summer 2014, through a partnership with mobile operator Claro and technology provider Giesecke & Devrient.
Contactless cards set to reach quarter of a billion next year
The number of contactless payment cards being used globally next year is set to reach 249 million, according to a new report by Juniper Research.
Mobile wallets face uphill struggle in UK
Less than one in ten UK consumers has used a mobile wallet, despite the widespread availability of the technology, a new study has found.
Canada’s Desjardins financial cooperative pushes NFC offering
Canada is seeing a fresh push to promote near field communication (NFC) services after Canadian cooperative financial group Desjardin signed a deal with mobile money solutions provider Monitise and a joint venture with the nation’s three largest mobile operators.
