Digital Transactions Authoritative, insightful and timely information for payments professionals
Google Inc. late on Tuesday announced a solution for a security flaw in its mobile wallet that allows hackers to gain access to wallet owners’ prepaid accounts. Google also said it had, on Monday afternoon, restored the ability to load funds on new prepaid cards. In response to the flaw, …
Read More »Plenty of Tests And Contracts, But No High-Speed Route to Contactless Payments
The nation’s largest transit operators are moving toward so-called open-fare payment systems that will enable riders to pay fares with just a tap of a contactless bank card at a subway turnstile or a terminal on a bus. Replacement of old fare systems, however, is not going at nearly the …
Read More »Datacard, DeviceFidelity Prepare for Mass Issuance of Micro SD Cards for NFC
In a move that could herald a time when card issuers will be able to mass produce specialized cards equipped with near-field communication (NFC) technology, Datacard Group on Monday announced it has taken an equity stake in DeviceFidelity Inc., a Richardson, Texas-based startup that makes micro Secure Digital (SD) cards …
Read More »PayPal Runs a Brief Test in Sweden to Check out Cloud-Based NFC for POS Payments
In a move that could be seen as a precursor to mobile in-store payments using so-called cloud-based near-field communication (NFC), PayPal Inc. is testing an app that works with contactless stickers to allow consumers to access their PayPal accounts. The test, which is taking place at two stores in Stockholm, …
Read More »Banks, Credit Unions Plan Mobile-Payments Moves in ’12; Are They Moving Fast Enough?
Major financial institutions are prepared to make bigger investments in mobile payments next year, but may not be moving fast enough to ward off non-bank competition, according to a report issued earlier this week. The chief type of mobile payments these institutions will be pouring money into in 2012 …
Read More »While NFC Continues to Lag, Starbucks’s Barcode System Logs 26 Million Mobile Payments
With mobile payments based on near-field communication (NFC) technology struggling to gain acceptance, new figures from Starbucks Corp. provide yet another example of how non-NFC systems are jumping to a fast lead in the mobile race. The Seattle-based coffee king this week reported that it has handled a total …
Read More »A Spat over NFC Keeps Google Wallet out of Verizon’s New Smart Phone
n n n n n n n n n n n n n n n
Read More »Aiming to Jump-Start NFC with Banks, MasterCard Pours Money into mFoundry
In a move that could bring mobile payments based on near-field communication (NFC) to a wide array of financial institutions, MasterCard Inc. on Thursday announced it will provide its PayPass contactless-payment technology to mFoundry Inc., a Larkspur, Calif.-based vendor of mobile-banking software. MasterCard also invested an undisclosed sum in mFoundry, …
Read More »Chicago Transit Authority Places a $454 Million Bet on Open-Fare Payments
Open-fare payments for public transportation got a big boost when the Chicago Transit Authority announced it had awarded a $454 million, 12-year contract to Cubic Transportation Systems to build and maintain a payment system that accepts contactless cards. The CTA, which provides about 500 million rides a year, thus …
Read More »MasterCard And Intel Look for Near-Term Results from E-Commerce Deal
The alliance MasterCard Inc. announced earlier this week with Intel Corp. to secure e-commerce transactions will not supersede SecureCode, a MasterCard online authentication system, but will fairly soon lead to a new type of contactless-payment device from an emerging category of ultra-thin, fast-start PCs, executives with both companies tell Digital …
Read More »