SafeNet Luna EFT HSM
Gemalto’s SafeNet Luna EFT (Electronic Funds Transfer) Payment HSM (Hardware Security Module) now supports new standards from the major credit card networks for secure implementations of contactless payments via mobile phones.
Digital Pakistan
For Pakistan to harness the full potential of digital commerce, strong collaboration is required among mobile operators, financial and payments companies and governmental agencies. By 2020, 3G coverage is expected to reach 90% of the country’s population.
AU10TIX BOS
Australia’s Lending Works is now offering higher standards in ID fraud protection, while streamlining onboarding and improving operating efficiency. AU10TIX BOS is the first and only 2nd generation ID authentication and record generation technology on the market today.
Citi Payment Exchange
Citi has launched Citi Payment Exchange, its integrated and highly flexible institutional payment-processing solution, in Canada. This follows the successful launch of the service in the U.S. in 2012. Unlike other bank offerings available in the Canadian market, clients can utilize Citi Payment Exchange to migrate from paper-based instruments to electronic payments.
EMV & AML & Fraud
AU10TIX warns EMV Standards & AML regulations will encourage online ID fraud and impairs customer acquisition effectiveness. The well-meant tighter fraud prevention measures and regulations may not be sufficiently backed by effective customer ID authentication measures at the point of new customer acquisition. AU10TIX warns of a “Back door” situation.
Data Breaches 2015-19
Nearly 60% of anticipated data breaches worldwide in 2015 will occur in North America, but this proportion will decrease over time as other countries become both richer and more digitized. Plus, the average cost of a data breach in 2020 will exceed $150 million by 2020, as more business infrastructure gets connected.
Wincor Nixdorf Q1
Driven by sagging revenues in China and Russia, German-based Wincor Nixdorf is undertaking a major restructuring after posting a 65% decline in net profits for the first quarter, compared to one-year ago. The Company will cut its workforce by 12% and may take it cashless business to an IPO.
MeaWallet MBC
MeaWallet launches Mobile Business Components (MBC) that handle the complexity of securing contactless integrated services and APIs. The contactless mobile payment service can be used at NFC-enabled POS-terminals in the stores and at the vending machines that support the existing global payment schemes for contactless payments. MeaWallet already supports other pairing methods like BLE, QR- and barcodes and Wifi. The contactless payment service is based on licenses for existing and emerging cloud based payment schemes. It uses Host Card Emulation (HCE) and tokenization to increase security, deliver flexibility and improve availability on most of the available smartphones. The new set of tools enables services on smartphones using Android 4.4 and newer operating system releases. MeaWallet is planning to support additional mobile platforms next year.
Clas Ohlson SEQR
Seamless, and its mobile payment service SEQR, has nailed a big fish. Clas Ohlson, one of Sweden’s largest retail chains, has inked a deal to offer SEQR payment option.
Seamless and InComm Sign
InComm has signed an agreement with Swedish Seamless that enables the digitization of the company’s vast portfolio of closed-loop stored-value cards using the mobile payment solution SEQR. InComm offers stored-value cards from more than 500 brand partners in the US. The collaboration opens up InComm’s large client base and enables stores to digitizetheir gift cards. InComm is a leading provider of cutting-edge prepaid products, services and transaction technologies to retailers, brands and consumers. SEQR is Sweden’s and Europe’s most used mobile wallet in stores and online.
InComm Signs Agreement With Seamless
InComm has signed an agreement with Swedish Seamless that enables the digitization of the company’s vast portfolio of closed-loop stored-value cards using the mobile payment solution SEQR. The card, which can be topped up via mobile, will also function as a payment account in the SEQR-app and the US will be the first market to launch.
Standard Chartered Launches New mApp
Standard Chartered launched its “Breeze” mobile app to transform the digital space in the country’s financial services industry. Currently the sophistication and increased expectation of the average Ghanaian banking customer has influenced banks to adopt a new way of thinking; a thinking that is defined by how to drive a cohesive relationship with the customer. Standard Chartered’s internal research has revealed that customers now wish for simpler and faster banking; be it at the branch, on phones or via mobile networks. The Breeze Mobile Banking app was borne out of a desire to make banking simpler by creating an intuitive, plain-speaking smartphone interface.