Payments News

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Tech

Contactless Card Use Surges As Doubts Ease

March 18 2019

“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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Tech

NatWest Bank to Trial Contactless Biometric Card

March 12 2019

“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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Global

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

March 11 2019

“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

Apple’s Titanium Credit Card Is Not Contactless | Cult of Mac

March 27 2019

“With Apple Pay, Apple has done as much as anyone to popularize contactless payments in the U.S. Despite this, it seems that the new physical titanium Apple Card won’t offer contactless payments when used in stores that don’t accept Apple Pay (or anywhere else for that matter). At least, that’s according to a spokesperson from […]
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Tech

Finnish Banks Double Contactless Transaction Limit to €50

April 16 2019

“Customers in most Finnish banks can now use their bank cards to make contactless payments up to €50. The previous limit was €25. Banks that are introducing the new upper payment limit include OP, Nordea, Danske, S-Bank, Oma Säästöpankki, POP Bank, Handelsbanken and Savings Banks. Aktia and the Bank of Åland will introduce the new […]
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Reports

Nearly a Third of All Card Transactions in the UK Are Contactless

April 18 2019

“Contactless card transactions in the UK were nearly a third of all volume in January 2019 according to new data from UK Finance. Over the month, there were 642 million contactless card transactions in the UK. This is a 19.5% increase from the same time in 2018, a total of 537 million. Furthermore, the value […]
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Tech

Bespoke Shirtmaker to Add Payments to Cuffs

April 9 2019

“A dress shirt which incorporates contactless payment technology in the cuff is set to go on sale this summer. The Cash Cuff shirt, developed by Cambridge-based DressCode , uses Mastercard-accredited wearable payments technology from K Wearables to link a smartphone app with a contactless payments module sewn into the shirt.”

On The Wires

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Tech

U.S. Payments Forum Webinar to Present Guidance for Contactless Open Payments Implementation in Transit

April 3 2019

“With Americans averaging over 10 billion trips on public transportation annually, transit agencies are looking to create streamlined experiences with new technologies such as contactless open payments. To address this growing interest, the U.S. Payments Forum is hosting a webinar focused on the acceptance of contactless EMV chip cards and NFC-enabled mobile devices at transit points […]
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Tech

Wells Fargo Accelerates Customer Checkout Experience With New Tap-to-Pay Contactless Cards

April 2 2019

“This week, new Wells Fargo consumer credit cardholders began receiving cards with the contactless feature when opening an account, and existing Wells Fargo consumer credit cardholders will receive a new contactless card when their current credit card expires. Consumer debit cards with the contactless feature will start to become available this summer. The bank, which […]