Payments News » Tech

Indonesia imposes standard QR code, fixed fees for e-wallets

January 15 2020

in
QR codes

Indonesia’s central bank, Bank Indonesia (BI), officially imposed the QR code standardization called QRIS (Indonesian Standard QR Code) on January 1. This means that all mobile payment providers must replace their QR code with QRIS for easier transactions.

Reports

Consumers Are Satisfied Making Contactless Payments, But Security Concerns Linger

January 14 2020

in
Contactless

“Even though contactless credit and debit card transactions made by tapping a card against a point-of-sale device rely on the same standard as EMV dipped transactions, consumers have different impressions of the security benefits, a newly released study says. Indeed, 81% of the 1,350 consumers surveyed for the “Emerging Trends at the Point of Sale” report […]

Tech

Wirecard Partners With Sprint to Drive Cashierless Checkout

January 13 2020

in
Cashierless

“The Sprint Curiosity network connects to in-store beacons and electronic shelf labels. Shoppers will activate an app, walk into the store, pick up their purchases and leave without having to wait in a checkout line. Instead, the IoT network will charge a saved payment method from the customer’s app. With the network monitoring where customers […]

Systems

Consumers Make More On-Us ATM Cash Withdrawals, Fed Data Show

January 10 2020

in
ATM
Cash

“Despite the decades-old rise of electronic payments at the expense of cash, the rate of decrease in ATM cash withdrawals has slowed down, and more consumers are avoiding fees by using their own financial institution’s ATMs, according to the Federal Reserve. The Fed’s latest triennial payments study released last month says ATM cash-withdrawal transactions declined […]

Providers

ICICI Bank launches India’s largest API Banking portal with nearly 250 APIs

January 15 2020

“The ‘ICICI Bank API Banking portal’, which consists of 250 APIs, enables developers of prospective partner companies across the globe to seamlessly sign up on it, create an application, select the application, test it out and get the sample code. With this, businesses, fintechs, corporates and e-commerce start-ups can easily partner with the Bank and […]

Tech

Shell Lets Fiat Chrysler Drivers Pay for Fuel From Their Vehicles

January 21 2020

in
IoT

“Chrysler, Dodge, Jeep and Ram drivers can now use Uconnect Market , Fiat Chrysler Automobiles’ new in-vehicle commerce platform, to pay for fuel at Shell-branded stations across the US. “The in-vehicle Shell Pay & Save functionality will provide customers with features that offer speed, convenience, and security, along with rewarding offers during their fuelling experience,” […]

Tech

Tech Budgets Offer a Clue About Which Banks Will Survive the Next Financial Crisis

January 23 2020

in
Operations

“Banks that adopted more IT before the global financial crisis had fewer defaults when it hit, and also provided more credit after it began, economists Nicola Pierri and Yannick Timmer wrote in a working paper for the International Monetary Fund. The difference between the IT-intensive banks and the rest wasn’t because of their geography or […]

Regulation

India Requires Banks to Let Cardholders Opt in to Contactless Payments

January 22 2020

in
Card technology

“Card issuers in India are to be required to ship all new cards to customers with contactless functionality switched off by default — and also provide cardholders with a range of easy ways to toggle their card’s contactless support on or off. The new requirement will come into effect from 16 March 2020 and also […]

Tech

New Ally Financial CIO Prioritizes AI

January 21 2020

in
AI

“Detroit-based Ally—formerly GMAC, the financing arm of General Motors Co.—has an online bank with no physical branches. The company offers mortgages, auto loans and investment tools… The company is using AI technologies such as Amazon.com Inc.’s Alexa for voice-enabled online banking and biometrics for customers to log into the mobile banking app.”

Tech

How Self-service Technology and Digital Payments Are Impacting Retail

January 24 2020

“Self-service technology has created a wealth of opportunities for retailers to serve customers. A panel at the Hi-Tech Retailing Summit during the CES show in Las Vegas explored the extensive scope of these technologies and the benefits they can deliver retailers that seek to meet the needs of a more demanding customer. Thanks to the progress that […]