Thursday , April 19, 2018

Near-Field Communication (NFC)

New York City’s Transit Agency Dives Into Contactless Payment Technology

Contactless payments got a big boost Wednesday when the New York City area’s Metropolitan Transportation Authority approved a $539.5 million contract with San Diego-based Cubic Transportation Systems to install a near-field communication-based payment system across all MTA transit and commuter-rail systems that includes open-loop payments. The deal means MTA riders …

Read More »

Eye on Innovation: Sound Payments; Vantiv’s Smart Pay Play; New Bill-Pay Vistas

A Cincinnati-based startup called LISNR is promoting technology that transmits payment data over sound waves. The technology, which the company demonstrated Tuesday at the Money 20/20 financial-technology conference in Las Vegas, is now open for beta and can be used as an alternative to near-field communication, the company said. It …

Read More »

Apple Lays Out an Ambition to Capture More ‘Everyday’ Spend for Apple Pay

Marking Apple Pay’s third anniversary, an Apple Inc. executive Sunday night outlined an ambition to make the wallet usable in a wide range of what the company calls “everyday” events in people’s lives. “This [Apple Pay] is the future of everyday spend,” declared Jennifer Bailey, vice president for Internet services …

Read More »

While Lauding a Strong Quarter, PayPal Brass Looks to ‘Monetize’ Venmo And Launch NFC

With Venmo accounting for a swiftly growing share of PayPal’s total payment volume, the company’s top brass left no doubt on Thursday they are eager to start making the peer-to-peer payment service start paying its way. “We [now] begin to monetize Venmo,” PayPal chief executive Dan Schulman told equity analysts …

Read More »

They May Not Like the Terms, But Issuers Will Likely Re-Up for Apple Pay

The first big wave of Apple Pay contracts are expiring this month, and a big question for both Apple Inc. and the financial institutions that committed to support the computing giant’s mobile-payments app is whether to renew, and under what terms, in the face of less-than-spectacular results for mobile payments …

Read More »

A Canadian Startup Mates Contactless With Cryptocurrency in a Fledgling Wallet

With Bitcoin trading at $4,300 and Ethereum at $300, most of the attention in the payments world has been on the cryptocurrencies’ value as an investment rather than as a payment method. Now, a year-old Toronto-based startup hopes to change that by enabling contactless point-of-sale transactions using Ether, the Ethereum …

Read More »

Digital Wallets Are Not Yet Ready for Prime Time, But Are Getting Closer, a Report Says

Though digital-wallet adoption among consumers may have paused this year, merchants continue to prep for the electronic payment, according to “The Next Phase of Digital Wallet Adoption,” a report commissioned by JPMorgan Chase & Co. Conducted by Forrester Consulting, a unit of Forrester Research Inc., the report found the fraction …

Read More »

COMMENTARY: Debunking Six Mythical Barriers Along the Path to Contactless Cards

The foundational technology for contactless credit cards has existed for some time, but we haven’t seen them adopted en masse yet, at least not Stateside. Much of that reluctance has to do with perceived obstacles or assumptions—perceptions that may or may not be entirely accurate. Following are objective responses to …

Read More »

Only a Year After Admitting Credit Cards, Aldi Says It Will Accept Contactless Payments

The Aldi Inc. supermarket chain, which only last year began accepting credit cards, said in a press release on Thursday it now “accepts all forms of contactless payment,” including Apple Inc.’s Apple Pay and Alphabet Inc.’s Android Pay mobile wallets. The Batavia, Ill.-based company has already activated contactless payments chainwide, …

Read More »

Apple’s Big Job: Getting iPhone Users Comfortable With Facial Biometrics

A large portion of Apple Inc.’s customers spurn facial biometrics, a key security element in Apple’s new iPhone X, according to new research. Survey results from United Kingdom-based Juniper Research say that more than 40% of users of Apple’s mobile devices in the U.S. consider themselves unlikely to use facial …

Read More »