Payments News

On The Web

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Tech

NatWest Bank to Trial Contactless Biometric Card

“NatWest Bank is to run a trial of fingerprint-on-card authentication allowing a cardholder to make contactless payments above the current level of £30. This increases security and makes it easier for customers when paying for goods or services since they will not need to enter a PIN, according to the UK bank. Some 200 customers are […]
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Risk & Fraud

Insert Skimmer + Camera Cover PIN Stealer — Krebs on Security

“Very often the most clever component of your typical ATM skimming attack is the hidden pinhole camera used to record customers entering their PINs. These little video bandits can be hidden 100 different ways, but they’re frequently disguised as ATM security features — such as an extra PIN pad privacy cover, or an all-in-one skimmer over […]
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Global

Russia’s Mir Domestic Payments System Adds Support for NFC Payments

“The new Mir Pay service uses tokenization and is supported on NFC phones running Android 6.0 Marshmallow and above. Eight of the more than 160 banks that issue Mir cards have signed up to take part in the initial rollout — Russian Agricultural Bank, Russian National Commercial Bank, Center-invest Bank, SMP Bank, Bank Russia, UBRD, Credit Bank of Moscow and Promsvyazbank.”
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Tech

A Big Bet on Blockchain and Gaming: Ripple and Forte Announce $100 Million Fund

“The cryptocurrency company Ripple on Tuesday announced an ambitious project to integrate blockchain technology into video games. The plan, which features a $100 million fund for developers, could remake the gaming industry by creating a new way to create in-game marketplaces for digital goods. The fund will be overseen by Forte, a San Francisco company […]
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Tech

A Blockchain to Connect All Blockchains, Cosmos Is Officially Live

“Cosmos, a highly anticipated blockchain itself designed to improve the interoperability between any number of other blockchains, has officially released a live software. With the mining of its first block at 23:00 UTC, the project has launched Cosmos Hub, the first in a series of proof-of-stake (PoS) blockchains that will be created in the Cosmos ecosystem. At present, users […]
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Tech

Digital Wallet Payments Surge on Apple Pay: CBA

“After CBA in late January became the second big four lender to offer the payment service — which allows consumers to make purchases by tapping their phone on a merchant terminal — there has been a clear surge in people paying with iPhones. “Since we’ve introduced Apple Pay, we’ve seen the number of wallet transactions […]
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Tech

Contactless Card Use Surges As Doubts Ease

“Two in five card payments are made using contactless technology as consumers appear to have cast aside any doubts of paying without a Pin. The number of transactions using contactless rose 31% in 2018 compared with the previous year, banking trade body UK Finance data shows. Adoption of this technology on public transport and by […]
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Global

Xiaomi Introduces Own Mobile Payment Service in India

“Chinese smartphone maker Xiaomi has launched its own mobile payment service Mi Pay in India. The Chinese firm received regulatory approval to introduce the service in December last year. The Unified Payments Interface (UPI)-based payments application will enable Xiaomi users to send money to any UPI address and bank account in the country.   Furthermore, […]

On The Wires

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Tech

CULedger and IBM Announce Collaboration to Deliver Blockchain Services for Financial Cooperatives and Credit Unions Worldwide

“CULedger will work with IBM to use permissioned blockchain technologies to create an immutable audit trail that can be used to create new business models and transform existing business processes for credit unions. The companies also intend to help drive greater financial inclusion by extending reach to a broader range of new members.”