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State Bank of India and Hitachi join forces for cards and paytech venture

October 29 2018

“State Bank of India (SBI) and Hitachi Payments (Hitachi’s subsidiary in India) have signed a definitive agreement to enter into a joint venture to build “a state-of-the-art card acceptance and future ready digital payments platform for India”, according to the two parties.”

Global

Starting In December, All Businesses Must Accept Plastic

August 21 2018

“The El Financiero reports that despite in a few months begins the obligation to accept payments by credit or debit card, as well as any other electronic mechanism, in addition to cash, businesses seem to be far from complying with the measure. The change will affect any business for profit, either on physical or legal, that only accepts […]

Companies

Square sellers no longer need signatures for card payments

August 16 2018

“The process uses a new “dip transaction flow” that prioritizes the parts of a transaction that are critical to security, which means less time standing in line, waiting for your card info to churn through to the issuer. More pertinently, though, Square sellers in the US and Canada can now skip collecting signatures on all […]

Tech

Dynamics’ high-tech card picks up bank support in Japan

August 14 2018

“The interactive payment card market has had a tough time gaining traction, but it’s getting a boost as GMO Aozora Net Bank plans to launch Dynamics Inc.’s battery-powered interactive debit and cash card to its customers next year. The new Visa card features a touch sensitive keypad and digital display as well as magnetic strip, contact […]

Tech

Worldpay Tests Dynamic CVV Cards In Anticipation Of Broader Availability

June 13 2018

in
Card technology

“Worldpay Inc. is adding another tool for financial institutions in their efforts to curtail the pricey and nuisance-laden aftereffects of rampant data breaches. The company’s solution comes in the form of credit and debit cards that use a dynamic card-verification value. Cincinnati-based Worldpay is testing the Motion Code-enabled credit and debit cards with two undisclosed […]

Deals

Ondot Announces Investment from Citi Ventures to Power Enriched Transactions

October 24 2018

in
Card technology

“Ondot Systems, the global leader in mobile payments services, today announced that it has secured a strategic funding investment from Citi Ventures. Ondot works directly with financial institutions to give consumers increased control over and visibility into their personal payment transactions.”

Tech

Visa and Postmates Deliver “Instant Deposits” to Postmates’ Fleet via Stripe Instant Payouts

October 3 2018

in
Card technology

“Today, Visa announced an agreement with Postmates, the nation’s largest on-demand delivery network, to enable real-time2 funds disbursement to their entire fleet. This new feature, called Postmates “Instant Deposits,” is facilitated by Stripe’s Instant Payouts feature, running on Visa Direct, Visa’s real-time push payments platform, and is now live and available to the Postmates fleet of […]

Tech

WEX Partners with Troovo for Robotic Process Automation of Virtual Card Generation

September 10 2018

in
Card technology

“Troovo has developed intelligent Robotic Process Automation (RPA) solutions that enable industries such as travel, payment, and procurement to fully automate their workflows and processes. As these businesses typically transact across borders and process high volumes of data, RPA solutions are optimal to improve operational efficiencies, boost capabilities, and reduce processing costs.”

Tech

CONTACTLESS PAYMENTS TO REPRESENT 1 IN 3 IN-STORE TRANSACTIONS GLOBALLY BY 2020

August 6 2018

“New data from leading fintech analysts, Juniper Research, estimates that driven by payment cards and mobile wallets, in-store contactless payments will reach $2 trillion by 2020, representing 15% of the total point of sale transactions. Contactless payments will exceed the $1 trillion mark for the first time in 2018, a year earlier than previously anticipated by […]

Tech

JCB Pilot of Japan’s First Fingerprint Authentication Chip Card from IDEMIA

April 18 2018

in
Card technology

“Users first record one or more fingerprints for authentication purposes. When they want to buy something, they need only touch the fingerprint sensor on the card’s lower right corner with their finger so as to authenticate payment. The fingerprint record is only kept in the card, and given that fingerprint authentication is also done on […]