QR code standards to be implemented by Indonesia later this year

QR Code Standards - quick response codes

Bank Indonesia wants higher interoperability between various providers of payment solutions. Bank Indonesia (BI), Indonesia’s central bank, is presently conducting a trial to establish QR code standards for the country’s various payment system providers. QR codes are starting to be used by the country’s citizens for mobile payments. Called QRIS (Indonesian Standard QR Code), Bank Indonesia’s QR code standards trial is about developing one code to be used by multiple payment system providers at every merchant. The bank believes that the standardization of the quick response code will result in…

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Wells Fargo contactless credit cards rollout to bank customers

Wells Fargo Contactless Credit Cards - Visa Contactless Card

Wells Fargo & Co. has announced the tap-to-pay technology for its credit and debit cards. Wells Fargo contactless credit cards are now being rolled out to its new customers. The San Francisco-based American multinational financial services company is joining its rivals JPMorgan Chase & Co. and Bank of America Corp – among other US banks – who have already adopted this NFC (near field communications) tech for their credit and debit cards. Wells Fargo customers will be able to tap their credit cards to make payments instead of swiping them.…

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NFC Forum introduces NFC payments solution alternative to QR codes.

NFC payments - woman with Android phone

NFC Money Transfer Candidate Specification allows for simple and secure NFC-based payment solutions. The NFC Forum, a Massachusetts-based non-profit industry association and advocate of Near Field Communication (NFC) technology has launched an NFC payments solution. The solution, known as the NFC Money Transfer Candidate Specification (NMT) has been designed as an alternative to QR code-based payments that gives payment service providers and consumers the chance to take advantage of simple and secure NFC-based payment systems that already exist worldwide. The NMT solution eliminates the need for a camera or a…

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QR mobile payments app that also supports NFC launches in Belgium

QR mobile payments app - Debit Machine

Payconiq gives Belgian debit card holders an easy way to pay in store, online and transfer money. Payconiq, the newly launched QR mobile payments app by Bancontact, supports both NFC and static dynamic QR codes contactless payment options. In addition to giving debit card users the ability to make payments in store and online, they can also transfer money direct to their contacts using a single app on their smartphone. Payments can be made at 290,000 payment points across Belgium. The QR mobile payments app was launched after the merger…

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Tappy adds finger-scanning mobile payments to watch bands

Finger-scanning mobile payments - Women wearing watch

A new battery-less biometric payment authentication system can turn a watch band into a credit or debit card. Tappy Technologies, a Hong Kong-based company, has developed a finger-scanning mobile payments authentication system that is small enough to fit inside a watch band. The system turns the watch band into a secure credit card or debit card, providing wearers with a convenient, battery-free, contactless payment solution. Tappy’s solution gives banks an alternative to sharing transaction fees with bigger tech companies. More and more consumers are becoming comfortable with using their smartwatches…

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Contactless payments to account for 1 in 3 in-store transaction by 2020, report

contactless payments - debit machine

Payment cards and mobile wallets will reach $2 trillion in two years. Worldwide, in-store contactless payments transactions will exceed $1 trillion for the first time this year. This is according to recent data published by Juniper Research. The leading fintech analysts also estimate that, globally, in-store contactless monetary transactions will hit $2 trillion by 2020 and will represent 15 percent of the total point-of-sale transactions. Both card payments and mobile wallets are expected to drive the growing use of these payments. Even though both of these contactless payments will be…

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Facial ID proves unpopular among consumers as a mobile payment security verification

iphone facial ID selfie

A new Juniper Research study revealed that over 40 percent of iOS users don’t want to use this security tech. More than one in three iOS device users in the United States do not intend to use facial ID technology as a part of their mobile payment security. This, according to Juniper Research survey findings. The findings suggest that Apple’s own customers may not feel comfortable with the new facial recognition tech. Facial ID tech is among the latest Apple releases. However, its own customers seem to find voice recognition…

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Important Visa mobile payments milestone reached in India

visa mobile payment security iphone

The financial giant has announced that it has issued over one million of its contactless cards in the country. Visa recently announced the issuing of over one million of its branded contactless cards in India. These were all issued through eight major banks within the country. These cards function on the same technology as contactless Visa mobile payments. The widespread use of these cards is opening the door for easier mobile payments to be rapidly adopted. There are over 100,000 merchant locations in India that are now set up to…

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Can Google’s mobile payments be made hands-free for Android and iOS?

google hands free mobile payments

The tech giant is now testing out a form of smartphone based transaction completed without lifting a finger. While many people might think that contactless mobile payments using NFC technology is essentially as convenient as transactions can get, as they’re simply a matter of waving a smartphone or wearable tech device (such as a smartwatch) over a reader at a cash register, Google is now looking to boost convenience even further. The search giant is now promoting the use of its Hands Free mobile app to let users pay without…

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Valyou NFC technology based mobile payments is packing it in

Mobile Payments NFC Technology

The smartphone based wallet which is headquartered in Norway has now decided to call it quits. The Norwegian mobile payments service called Valyou will now be shutting its doors as its owners, DNB, Telenor and SpareBank1 have agreed that there simply are not enough NFC technology enabled terminals at merchant checkout counters to make the effort worthwhile. The owners have also agreed that other telcos and banks have not offered the support they had expected. The contactless mobile payments service used NFC technology to allow consumers to be able to…

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NFC technology in the next Samsung smartwatch will allow mobile payments

NFC technology Smart Watch Augmented Reality

A new report from South Korea suggests that the wearable technology will have near field communication tech. Recently, a report surfaced out of South Korea, which indicated that Samsung intends to integrate NFC technology into its next smartwatch, which it intends to release onto the market in the latter half of this year. This near field communication support will make it possible for wearers to use contactless mobile payments. The company’s own mobile wallet service, Samsung Pay, was unveiled in the United States and South Korea back in March 2015.…

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