The National Bank of Kuwait has launched a contactless mobile-payments test in Kuwait that relies on Near Field Communication technology. The test also involves Visa Inc., Kuwait-based mobile-network operator Zain and United States-based contactless-technology vendor Vivotech Inc., which is providing the electronic wallets for the NFC-enabled phones and over-the-air provisioning software. The test, scheduled to run until April, involves no fewer than 500 of the bank's credit cardholders and relies on Nokia 6212 handsets. Trial participants download Visa credit card-account details to their mobile phones. Participants can use their phones to make contactless purchases at some 100 merchants located at The Avenues mall.
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Federal Reserve Vice Chair for Supervision Michelle Bowman said in a speech Tuesday morning that she is working with other regulators around the world to emphasize innovation in the banking sector, including with artificial intelligence.
5h ago -
The new Fed is going to do less talking, if Kevin Warsh has his way. But talking is a powerful tool the Fed can use to get what it wants.
6h ago -
Market watchers say it is plausible that regulators will have established rules of the road for tokenized bank deposits by next year. But to get there, many outstanding issues will need to be ironed out first.
6h ago -
Oklahoma's Bank7 may acquire New Mexico's Century Bank by the end of the year. The reason: A wealthy Century shareholder is being forced to sell his shares to satisfy a $40 million debt.
July 6 -
Organizers of Bank of St. George were close to the finish line in 2020 when the COVID-19 pandemic arrived. Now CEO Bruce Jensen says the planned bank should open its doors by the end of the year.
July 6 -
Two executive orders pulled federal deadlines for quantum-proof encryption forward to 2030, after 2026 research cut the cost of breaking today's codes.
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