Contactless mobile payments collaboration forms between CTBC Bank and Soft Space

Contactless mobile payments - Paying with wearable device

The partnership will work as a system used by Taiwanese taxis to make it easier to charge fares. CTBC Bank, based in Taiwan, has entered into a partnership with Soft Space, a fintech from Malaysia, to launch a contactless mobile payments system to be used by cab drivers to collect taxi fares. The system will allow customers with Android smartphones and NFC technology to tap to pay. The contactless mobile payments system will be powered by Soft Space so that Android phone users can pay for their cab rides using…

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NFC technology experiences considerable surge in global use

NFC technology use World Wide

A recent survey shows that consumers have a greater awareness of the tech and are satisfied by it. A new study conducted by ABI Research has shown that consumers are considerably more familiar with NFC technology, and they are more satisfied with it as well. Over eight out of every ten consumers have used a contactless card or mobile payment wallet. According to the research, more than 85 percent of consumers have used NFC technology in the form of a “contactless card or mobile payment wallet.” Moreover, they have increased…

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Infineon combines near field communication and system-on-chip for keyless lock

Near field Communication - Unlocking door with mobile phone

The NFC technology and SoC have been paired in what the company is calling a first ever tech. Semiconductor manufacturing company Infineon has unveiled a new keyless lock device that works on near field communication (NFC) and system-on-chip (SoC) technology. The combination makes it possible to unlock padlocks, doors and other locks with mobile phones. According to the company, the future of building security might involve removing keys from the mix altogether. It has developed a security solution that requires neither keys nor batteries to make it possible to lock…

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Mobile Tap to Pay trend picks up speed among US retailers

Tap to Pay - Mobile Phone & POS Terminal

Shoppers have started to see the appeal of using their smartphones to pay for purchases in-store. Compared to many other countries worldwide, the US has been slow to adopt mobile payments, but Tap to Pay technology has started catching on among American shoppers. Adyen, one of the largest US payment services providers is now supporting this tech for retailers. Adyen has now officially launched support for Tap to Pay in its merchant networks and retailers. This has opened the door to allowing people using iPhone XS or newer, as well…

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Apple mobile wallet practices hurt competition, says EU regulators

Mobile wallet - Back of iPhone - Blue case

The European Commission’s preliminary findings were that the policies harmed competition. European regulators have notified Apple Inc. that its mobile wallet practices were, in their initial view, harmful to competition. The preliminary findings of the European Commission do not “prejudge the outcome” in antitrust investigations. The European Commission (EC) announced in a news release that it had advised Apple “of its preliminary view that it abused its dominant position in markets for mobile wallets on iOS devices.” The focus of the concerns expressed about the payment app had to do…

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