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December 20, 2021

On the web

USPS Taking Apple Pay for Online Payments – but Still Not in Post Offices | AppleInsider


“The U.S. Postal Service is now accepting Apple Pay , however Apple’s payment platform is only currently accepted online, and probably won’t be usable for in-person transactions for quite a while.   The USPS hasn’t been a supporter of Apple Pay, but recently, it has adopted Apple’s mobile payments system for some transactions. An update to its website allows users to use Apple Pay to purchase various services, including through its assorted apps.”

December 15, 2021

On the web

Fnality Preps Go Live With Pledge to Slash Intraday Liquidity Costs

Finextra Research

“Backed by some of the world’s largest banks, blockchain for payments consortium Fnality says it expects to reduce banks’ intraday liquidity requirements by 70% when it goes live next year. Developed in association with technology analytics company FNA, the ‘Fnality Participant Simulator’ has estimated the daily liquidity requirements reduction for banks when consolidating multiple existing payment rails into its blockchain-based payment system.”

December 3, 2021

On the web

Zippin Checks In at JFK With Autonomous Checkout Technology

The Spoon

“Customers enter the store through a turnstile tapping their credit card as they enter and begin shopping by picking items off shelves. As they do, Zippin’s AI system automatically identifies the items and builds the customer’s virtual cart with the corresponding monetary value. When the customer leaves the store, the total amount spent is automatically charged to the card the customer used to check-in at the store entrance. For Zippin, its partnership with JFK and SSP is a nice feather in the cap for a company with a portfolio of deployments, including hotels, stadiums, and grocery stores. Zippin’s move into airports follows other cashierless tech platforms like Amazon’s Just Walk Out, which showed up in Dallas airport earlier this year .”

November 30, 2021

On the wires

Temenos Presents the Temenos Exchange – Its Enhanced Open Marketplace for Fintech Solutions

“Temenos (SIX: TEMN), the banking software company, announced Temenos Exchange, a new Fintech marketplace to bring open banking innovation to market faster, and at scale. The new marketplace will offer pre-integrated and certified Fintech solutions that can be easily deployed within the Temenos Banking Cloud, enabling banks to accelerate the creation of new financial services, while reducing the costs of development.”

November 29, 2021

On the wires

Interac Selects Microsoft Azure for Digital Payments Solution Development in Canada

“Today, Interac Corp. announced an agreement with Microsoft to use Microsoft Azure’s cloud capabilities to securely manage the continued growth of digital transactions, enabling greater innovation and ultimately faster payments. As a central leader in Canada’s payments ecosystem, Interac has seen a surge in demand for its solutions and requires a trusted, reliable and secure cloud platform to support ongoing innovation and product development. During the pandemic the company processed almost one billion Interac® e-Transfer transactions sent since the beginning of April 2020.”

November 19, 2021

On the wires

Starbucks Pickup and Amazon Go Collaborate to Launch New Store Concept in New York City

“The new Starbucks Pickup with Amazon Go, located in New York City at 59th Street between Park & Lexington Avenues, opens on November 18, 2021.  The store is a combination of a Starbucks Pickup and Amazon Go, utilizing the order ahead feature in the Starbucks app and Amazon Go’s Just Walk Out technology to create an easy checkout experience, alongside a modernized lounge that features individual workspaces and expanded tables with power outlets and USB ports.”

November 17, 2021

On the web

African Payment Apps to Add Ultrasonic Authentication for Contactless Transactions


“Consumers across Africa will soon be able to use Nigeria-based payment services provider Paga Group’s mobile apps to authenticate in-store and person-to-person contactless payments using ultrasonic data-over-sound proximity verification technology. The company is adding ultrasonic authentication to both its Paga payments and Doroki merchant apps and plans to roll it out as a contactless verification option to some 33,000 merchants and 19 million users. The contactless solution uses ultrasonic ‘person present’ authentication technology provided by US data-over-sound company Lisnr .”

November 16, 2021

On the wires

Tap to Give™ at The Salvation Army’s Iconic Red Kettles This Holiday Season

“No cash? No problem. Today, Visa (NYSE: V) announced a pilot program with The Salvation Army and tiptap to make donations contactless at The Salvation Army’s iconic Red Kettles this holiday season. When shoppers hear those familiar bells, they’ll be able to give back by simply tapping their contactless card, phone or watch on the tiptap devices – the same way they do in stores – no need to carry cash, scan a QR code, or touch anything.”

November 12, 2021

On the web

Veem Launches a Program to Help Developers Embed Veem Applications in Their Software

Digital Transactions

“As small and medium businesses shift more of their operations online, the need for financial products with embedded payment solutions is growing. To make it easier for providers of banking and financial software providers to offer embedded payment solutions to small and medium businesses, Veem Inc. on Thursday announced its Veem Partner Connect program. The program creates multiple options for software providers to embed Veem’s accounts receivable, accounts payable, and invoicing capabilities into their existing applications, thereby enabling small businesses to access that functionality through a single platform.”

November 4, 2021

On the web

Square’s Cash App Opens up to Teens Ages 13 to 17 With Parental Oversight


“Amid a growing number of banking apps aimed at teens, Square Inc.’s Cash App today is broadening its reach by making its payments app available to younger teens between the ages of 13 and 17. Previously, the app required users to be at least 18 years old, like rival Venmo. The company says younger teens will need to get a parent or guardian to authorize their account, but can then begin to send peer-to-peer payments and take delivery of a customized Cash Card, powered by Visa.”

October 25, 2021

On the web

Why the QR Code Become Ubiquitous in India

The Economic Times

“The popularity of QR codes soared after payment companies (and other fintech players) started using it in conjunction with UPI, an instant payment system developed by the National Payments Corporation of India (NPCI). Startups like Paytm and PhonePe revolutionised its use in peer-to-peer payments. This trend started right after demonetisation in 2016, and gathered deeper roots around Covid-19, when people were apprehensive of exchanging currency notes.”

October 20, 2021

On the web

Identity Decisioning Platform Alloy Moves Into Credit Underwriting

Finextra Research

“Alloy, the recently named unicorn, has expanded its identity decisioning platform to include credit underwriting, with the intention of building comprehensive views of customers in line with their onboarding and transaction monitoring products. Ahead of taking to the stage at Money 20/20 US in Las Vegas where the news will be formally announced, the New York-based startup revealed that their aim is to allow banks and fintech firms to make better identity, risk and now, credit decisions.”

Potential Starbucks Partnership Shows Amazon’s Ambitions for Its Cashierless Retail Technology


“Could Starbucks give Amazon’s retail technology a jolt? A report this afternoon by the Insider news site , citing an internal document, says the Seattle companies have discussed creating a new style of coffee shop featuring Amazon’s “Just Walk Out” technology. The co-branded stores would let people buy beverages, baked goods and hot foods without going through a traditional checkout, the report says…The report cautions that the partnership might not happen, noting that it includes milestones for the rollout that subsequently haven’t been met.”

October 19, 2021

On the wires

Intuit Introduces Money by QuickBooks, Mobile Banking Designed for Small Businesses

“Intuit (Nasdaq: INTU) today announced Money by QuickBooks , the latest addition to a comprehensive and ever-expanding suite of QuickBooks offerings that power small businesses with the ability to get paid and manage their cash flow. The Money by QuickBooks mobile app available for free on iOS and Android is designed to give entrepreneurs, freelancers and sole proprietors just starting their business journey complete control over their money with the ability to accept payments and manage expenses with features including debit card and bill payment capabilities.”

October 13, 2021

On the web

UK Contactless Payments Limit Is Rising to £100 – Should You Be Worried?

the Guardian

“It’s a financial revolution that began quietly in September 2007. That is when the first contactless bank cards were introduced in the UK, allowing people to “wave and pay” for low-value items such as a cup of coffee or a newspaper. At the time, spending was capped at £10. Fourteen years on, with at least 135m contactless cards in circulation and the technology accounting for 9.6bn payments a year and rising, the limit is about to go up to £100 . This change, which takes effect on Friday 15 October, will more than double the current £45 cap.”

October 12, 2021

On the wires

October 11, 2021

On the wires

Mbanq Signs With Temenos to Launch World’s First Credit Union-as-a-Service and Accelerate Banking-as-a-Service in US Market

“Silicon Valley-based Mbanq, a Banking-as-a-Service (BaaS) provider and one of the world’s fastest growing FinTechs, today announced it has signed a strategic agreement with Temenos (SIX: TEMN), the open cloud banking company, to launch an innovative Credit-Union-as-a Service (CUaaS) offering, and to accelerate BaaS adoption across the US. CUaaS is offered by Mbanq’s Credit Union Service Organization (CUSO) and will be powered by The Temenos Banking Cloud.”

October 7, 2021

On the web

Amazon Is Reportedly Working on a Smart Fridge

The Verge

“Amazon might be working on its own smart fridge, according to a new report from Insider . “Project Pulse,” as the project is titled internally, is reportedly being developed by the same Amazon “physical-stores unit” that worked on the company’s high-tech Amazon Go stores . Project Pulse “is designed to track your inventory and purchase habits, predict what you want, and have it delivered,” Insider writes. The fridge could also track expiration dates, suggest recipes based on the products in your fridge, and offer an easy way to order more food from an Amazon Fresh or Whole Foods grocery store.”

MoneyGram Partners With Stellar and USDC for Blockchain-Based Payments


“Traditional cross-border payments giant MoneyGram is working with the Stellar blockchain network to create instant money transfers using Circle’s USDC stablecoin, the companies announced Wednesday. The firms will start with a pilot in the fourth quarter of this year. Early 2022 will see a gradual rollout of the ledger-based stablecoin bridge between crypto and local currencies with a view toward connecting MoneyGram’s 150 million or so consumers.”

October 6, 2021

On the web

BNY Mellon Using Blockchain for Trade Finance – Ledger Insights – Enterprise Blockchain

Ledger Insights - enterprise blockchain

“Today BNY Mellon announced it is part of the Marco Polo blockchain trade finance network. Ledger Insights first revealed the news almost two years ago . Hence we asked the bank whether it’s now in production. A spokesperson responded, “BNY Mellon is now an active member on the Marco Polo network and we look forward to delivering the efficiencies afforded by the network to trade finance clients over the coming weeks and months.””

On the wires

September 27, 2021

On the web

Upgrade Your Drive With Google As Your Copilot

Android Central

““When it’s time to fill up at the gas station, you can now put away your credit card or cash and say, ‘Hey Google, pay for gas’, on Android Auto or from your Android phone. Select your pump number and complete contactless payment with Google Pay,” Google says .  At launch, the service will be available at Exxon and Mobil, Conoco, Phillips 66 and 76 fuel stations.”

September 24, 2021

On the web

September 20, 2021

On the web

Contactless Payment Rises—And So Do Back-to-School Purchases—PSCU Report Shows

Digital Transactions

“Contactless credit card transactions caught up to their debit counterparts as a percent of volume in August, with 17% of total card-present volume, as tracked in the monthly PSCU Payments Index, attributed to the payment form. That matches the share for contactless debit transactions. PSCU, a St. Petersburg, Fla.-based credit union service organization, issues the PSCU Payments Index as a way to monitor payments activity.”

On the wires

Dejamobile’s Tap on Phone App Available on PAXSTORE

“The solution uses the latest technology based on Mastercard, Visa and PCI standards to convert non-payment devices into secure and certified point of sale terminals. Those devices are then capable to accept contactless payments, both for transaction amounts within a country’s contactless floor-limit or for higher value amounts through secure PIN entry. The PIN entry is done directly on the merchant’s Android device, with no need for an additional hardware.”

September 17, 2021

On the web

JPMorgan to Launch Digital Bank Chase in Britain Next Week


“JPMorgan (JPM.N) is set to launch its big assault on British high street banks and online lenders from next week, with the launch of its long-planned digital retail bank Chase. The venture – JPMorgan’s first overseas retail bank – is set to launch its smartphone app initially offering current accounts on Tuesday, a JPMorgan spokesperson confirmed.”

September 15, 2021

On the web

Contactless Transactions Surge in Cash Loving Germany, Austria and Switzerland

Finextra Research

“More than three quarters of cashless transactions in Germany, Austria and Switzerland are now contactless, a remarkable turnaround from pre-pandemic figures of just 40%. The Dach region, until recently heavily reliant on cash and invoicing, has experienced a dramatic transformation in contactless adoption over the last two years.In June 2019, overall contactless adoption in the region was at just 40%, according to figures from payment processor Nets. The average contactless rate is now 77% in Germany, 82% in Austria and 80% in Switzerland.”

September 13, 2021

On the web

VTB Tests AR and Face Pay Technology

Finextra Research

“Russia’s VTB is exploring new technologies with a pair of pilots, one that lets customers view notifications in augmented reality and the other letting them pay for metro rides with their faces. The AR feature lets iOS VTB online app users navigate to their notification feed an select the item they want from the menu.They then scan their VTB card: If the card is placed horizontally, information on available funds and the number of accumulated bonuses will be displayed, if the card is place vertically, then the notification feed will be displayed.”

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