MasterCard will kick off its Masters of Code competition via a London hackathon on November 14-15. London is the last of 12 global hackathons with 3,000 of the world’s best developers battling for USD 100,000 worth of prize money if they can come up with an innovation that uses MasterCard’s payments platform and benefits city dwellers.
The average Brit spends over 18 hours a year queuing, with local shops, post offices and supermarkets the worst contributors, and they get bloody mad.
A new survey finds nearly half of all UK card users viewcontactless cards as one of the least secure methods of payment , behind mobile payments at 71%. Also, despite industry claims that contactless cards are now widespread, 71% stated that they still do not have a contactless-enabled card in their wallet.
Contactless is going 3D, not with technology but with art. Visa Europe crafted an immersive 3D art installation at Waterloo station to mark the occasion which will be unveiled on September 16.
Throughout 2013 Visa cardholders used their contactless cards to make more than 94.3 million purchases in the UK, simply by tapping their cards, compared to just under 25 million contactless purchases in 2012, showing that UK consumers are embracing the ease and speed of contactless payments. Contactless purchases were not just up in the UK but across the whole of Europe, with Visa cards used to make a staggering 340.1 million contactless purchases across Europe last year. The number of contactless terminals has also risen by almost 200% and independent retailers making contactless payments available to customers with the number of terminals now over 300k. The stats also show a massive 125% increase on the number of Visa contactless cards in circulation compared to December 2012 to now 32.1 million Visa contactless cards in circulation in the UK with the European total reaching 80.6 million, a 158% increase on 2012.
bNET Communications announced their subsidiary bnetTV is an official media partner at this year’s 5th annual GSMA NFC & Mobile Money Summit 22-25 October. One of many topics being discussed at this year’s summit will surround the recent report issued by the GSMA and the Latin American Mobile Market (Brazilian Mobile Observatory 2012). The first of the Mobile Observatory series of reports to focus on Brazil offers the GSMA’s view into the explosive growth of the sector and the range of services it enables for its citizens. Brazil is the fourth largest mobile market in the world and highly competitive with increasing uptake of mobile technologies and services, including NFC, mHealth, mEducation and mCommerce, which will further shape Brazil’s mobile future.
Experian research now shows frauds attempted against financial services providers increased 11% in 2010 while 20 in every 10,000 applications for credit and other financial products made last year were discovered to be fraudulent, up from 18 in 2009. The year also saw a 25% uptick in in fraudulent applications for current accounts while 7 in every 10,000 loan applications were flagged as fraudulent in 2010, up from five in 2009. Identity fraudsters were responsible for 60% of these cases. The most dangerous place for a consumer’s identity; London, England.
RATP and MasterCard in association with La Banque Postale are working in tandem to develop the functional and technical requirements and
feasibility of using MasterCard “PayPass” contactless payment cards to access public
transport services. They will present the Public
Transport organizing authorities with a solution enabling French and foreign
travellers to have a direct access to the subway, the bus or the tramway
thanks to their bank card. Simply tapping the card on contactless validators will
be enough to pay and validate their journey in less than one second.
Barclaycard has committed to issue at least one million contactless
cards to UK consumers before the end of 2008. With a heavy hand in the
introduction of contactless technology since September of 2007 with the
launch of its “OnePulse” contactless payment card, Barclaycard now has
more than 6,000 live terminals accepting contactless payments throughout
the UK. These terminals can be found at such retail locations as the
Coffee Republic, EAT, The National Trust and Yo! Sushi. To celebrate the
one year anniversary of the launch of “OnePulse,” Barclaycard will be
giving away 50,000 single-use contactless
cards for visitors to use during its hosted festival in mid-September 2008.
The national roll-out of “MasterCard PayPass” and “Maestro PayPass” is
being celebrated by carpeting the “Millennium Bridge” with reproductions
of millions of pounds of cash and coins. The new “Coin Bridge” will also
offer consumers the opportunity to support social housing and community
projects in and around London’s South Bank. The national rollout of
contactless payments begins in London this month with implementation
across the rest of the UK scheduled to take place throughout next
year, with five million contactless cards due to be in issue for use at
100,000 retailers by the end of 2008. Londoners will soon be able to use
their PayPass cards throughout the capital, with thousands of retailers
including McDonalds, Eat, Coffee Republic, Yo!Sushi, Krispy Kreme, Books
Etc, Threshers and the Science Museum participating in the launch
program. The rollout of contactless payments in the UK follows
successful European trials of the “PayPass” contactless platform with
the Royal Bank of Scotland Group, at both its headquarters in Edinburgh
and its London office, and the launch of several programs and pilots
across Europe. The region’s first “MasterCard PayPass” credit program
was launched with Garanti Bank and major retailers in Turkey in June
2006, with the bank’s subsequent rollout of the region’s
first “PayPass”-enabled wristwatch in spring 2007.
For the acceptance of Barclaycard’s “OnePulse cashless card”, over 1,000
London retailers have agreed to implement Barclaycard’s cashless payment
technology. Using the new solution, neither a customer’s user signature or
PIN is required for transactions under GBP 10. Cardholders will also benefit
from “Oyster” airfare discounts with pay-as-you-go or season ticket,
chip and PIN security for transactions over GBP 10, and cashless “OneTouch”
payment convenience. Barclaycard is a multi-brand credit card and loans
business and processor that provides credit cards in dozens of countries.
Visa Europe and Mastercard “Paypass” are leading a roll-out of contactless
credit and debit cards for financial institutions. For the 1st phase, these
institutions include Bank of Scotland, Barclaycard, Citi, Euroconex
Technologies Ltd, Halifax, HSBC, Lloyds TSB, and The Royal Bank of
Scotland Group. APACS estimates suggest that over 5 million contactless
cards will be issued by the end of 2008, and that they will be accepted by
at least 100,000 merchants. There are 20 billion payments under GBP 10
UK with a value of approximately GBP 200 billion per year. This new
technology is expected to increase small value transactions and places
accepted, such as coffee shops, newsagents, and in taxis.