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Banking and Payment vertical continues to offer strong growth for smart cards
The global market for smart cards will see steady growth due to the increasing emphasis on the Europay, MasterCard and Visa (EMV) standard in the payment and banking vertical. In 2015, multiple financial institutions in the US are expected to make their payment cards EMV-complaint. Countries in the Middle East, Africa and Asia-Pacific will follow [...]
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TfL goes contactless in London
In the wake of Transport for London (TfL) going fully contactless across its travel network, Visa predicts Brits will make 500 million contactless payments between now and December 2015. Transport for London customers can now use their contactless cards to pay for journeys on all Tube, tram, DLR, London Overground and National Rail services that [...]
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Mobile operators scrap Weve
As history repeats its self, Weve, owned by EE, O2 and Vodafone, has ditched plans for a joint mobile wallet, based on NFC, which was meant to help the operators enter the £14.2 billion payment market. In June 2005, Simpay, a different joint venture between the big telcos also relating to payment services collapsed after [...]
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US push ahead with faster payments initiative
The U.S. Federal Reserve has restated its commitment to push for development of a faster payments system, with the Fed’s financial services policy committee saying officials will prepare and share a road map for improvements “in the coming months.” A Minneapolis representative says the Fed aims to publish the road map before the end of [...]
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Apple Pay to work with China UnionPay
Apple may work with China’s leading issuer of credit cards China UnionPay to offer Apple Pay via NFC (Near Field Communication) supported payment systems with its latest smartphone, the iPhone 6. The NFC system could challenge the dominance of the QR code popular among Chinese third-party payment services. The newly announced Apple Pay allows iPhone 6, iPhone [...]
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