Mobile wallets using NFC technology need new regulations, says Dutch market authority

NFC technology - mobile wallet payments

The Netherlands Authority for Consumers and Markets wants updates to contactless technology access regulations. Dutch market authority Netherlands Authority for Consumers and Markets (ACM) is calling for new rules to control anticompetitive practices in NFC technology using mobile payments apps such as Apple Pay. The ACM is seeking changes to the rules following an access investigation it recently conducted. The ACM issued a media release in which it stated its concerns regarding NFC technology mobile payments apps access and making a call for a change in regulations. “The Netherlands Authority…

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Cardknox launches contactless QR code payments

Contactless QR Code payments - QR code being scanned

As the popularity of using smartphones and zero-contact grows, so do the number of services offering it. Using contactless QR code payments at points of sale has become quite commonplace over the last year and a half as businesses and consumers seek ways to transact without touching equipment. Cardknox Development has now announced that its app has become quick response code compatible. As a result, software developers seeking to add contactless QR code payments to their apps will have the means to do so. The Cardknox API makes it possible…

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Researchers use phone NFC technology to hack ATMs

NFC technology - person using ATM

A security firm consultant also used card reader tech flaws to mess around with point-of-sale systems. Security issues with ATMs aren’t anything new for cybercriminals and security researchers, but recently readily available phone NFC technology was used to hack into an ATM. The researcher found bugs letting him use near field communication technology as a quick hack. The bugs in the systems let the researcher use his phone’s NFC technology to simply wave the device over ATMs and point-of-sale terminals to hack them. By using the contactless credit card readers…

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Mobile payment apps generate growing number of security-related complaints

Mobile payment apps - person paying with mobile phone

Applications like Venmo and Zelle have seen a 300 percent rise in complaints related to scams. Mobile payment apps like Venmo, Zelle, and Cash App have seen a dramatic increase in the complaints they have been receiving, particularly when it comes to people becoming victims of scams while using them. The top issues in complaints have been scams, account use struggles and poor customer service. The US Public Interest Research Group (PIRG) non-profit conducted a data analysis which identified those leading topics of complaints filed about mobile payment apps. PIRG’s…

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Messenger QR codes enable US person-to-person payments

Messenger QR codes - Messenger App Icon

The social media company had already confirmed it was testing the option earlier this spring. Facebook confirmed its tests of Messenger QR codes for person-to-person payments earlier this spring. Now, it has announced that the quick response codes are rolling out for US app users. The quick response barcodes make it possible for US users to send or request money with Facebook Pay. The money can be sent or requested by any user in the US to any user in the country, even if they are not Facebook friends on…

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