Payments News

On The Web

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Reports

Federated Bank ID: Implications for Business Payments

“Citi Trade and Treasury published “ The Age of Consent ” a treatise arguing for federated bank IDs that highlights an example from Sweden. A number of banking and fintech leaders provide commentary. Glenbrook’s Erin McCune considers the business payment implications of digital ID in her contribution.”
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Security

“The modification to point-of-sale software blocks each Juul purchase until the shopper’s driver’s license or other government identification has been scanned. It also limits each purchase to a maximum of one vaporizer and four refill packs. So far, Juul said, Cumberland Farms Inc., QuikTrip Corp. and other chains representing 40,000 outlets have agreed to adopt […]
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Security

China’s Mobile Payments Are Raising Privacy Concerns in Shenzhen

““There were no paper menus only a QR code that can be scanned on the table,” said Wang, a 28-year-old engineer in China’s tech hub of Shenzhen. “I had to agree with a request to collect my WeChat name, portrait and region and could not see the menu, make an order or pay my bill […]
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Security

BKash Launches EKYC App for AC Opening

“Mobile financial service provider, bKash launched e-KYC (Electronic-Know-Your-Customer) app so that customers can open their account by themselves. The eKYC app would allow customers to open their bKash account with instant activation only scanning NID and taking photo without any documents, said a press release yesterday. Using OCR (Optical Character Recognition) to collect data from […]
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Security

Amazon May Launch a Hand Recognition Payment System for Whole Foods

“Time may come when you can walk out of a Whole Foods store without having to pay cash or to swipe your card — that is, if you’re willing to give the Amazon-owned supermarket chain your biometric data. According to New York Post , Amazon is testing a payment system codenamed “Orville” that scans human […]
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Security

Silicon Valley’s Final Frontier for Mobile Payments – Biometrics

“Using a mobile wallet made people likely to spend more on food, entertainment and travel, the university study found. In dollar terms, people using mobile payments spent an average of 2.4% more than those who did not use them. One theory: If we don’t handle credit cards or cash, we don’t consider a transaction’s consequences.”
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Security

Fingerprint Bets Big on Smartcards in Bid for Change of Fortunes

“Fingerprint Cards AB is predicting a big moment for payment smartcards carrying its biometric sensors as the Swedish company seeks to engineer a turnaround in its fortunes.    Fingerprint expects commercial use of the cards to start next year following successful trials by 20 banks , including Credit Agricole SA, and after Mastercard Inc. certified […]

On The Wires

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Companies

TD Gives Cardholders Control and Confidence With First-in-Canada Security Feature for Credit Cards

“In addition to the new international block capability, TD consumer credit cardholders can also take advantage of the card lock feature, allowing them to temporarily block access to their account, eliminating the stress customers may feel when they can’t immediately locate their credit card. When the card is locked, cardholders cannot make new purchases or […]
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Security

TSYS Introduces Breakthrough Authentication Platform

“SYS (NYSE: TSS) today announced a new authentication product that provides unprecedented real-time verification of customer identities. The new offering, the TSYS Authentication PlatformSM, relies on customer experience data collected from direct cardholder touchpoints and integrates into TSYS clients’ existing authentication systems. TSYS Authentication Platform is available in Europe and will be launched in North […]
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