New PayPal mobile wallet app is ready for its big debut

Mobile wallet app - PayPal app on phone

The completely overhauled “super app” will include all new options, services, and messaging. PayPal has given the go-ahead to move toward the launch of its newest mobile wallet app, which is expected to come with a full spectrum of additions. This digital payment application is now considered to be “code complete,” said the PayPal CEO. Dan Schulman, PayPal CEO, discussed the new mobile wallet app during the second quarter earnings call last week with investors. He called the application “code complete” and said that PayPal was preparing for a slow…

Read More

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…

Read More

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…

Read More

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…

Read More

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…

Read More