Contactless payments

Using watches, wristbands and other accessories at the point of sale is set for a boom, pressuring financial institutions to develop a strategy for the banking tech.

A community development financial institution in New York City says it's the first U.S. bank to launch a contactless payment ring. It's betting that novelty will be part of the draw.

Tap to Pay on iPhone turns any of the tech giant's recent smartphones into a card reader, but since Apple doesn't provide its own merchant services, it stops short of becoming a direct threat to acquirers and payment facilitators.

Several rail and bus lines are working with Interac, the country's debit network, and its bank partners to allow the new fare payment option in addition to credit cards. They see the collaboration as a way to expand ridership among tourists and low-income residents.

The shift away from human contact increased the popularity of kiosks, ATMs and other technologies that allow for more flexibility in payment methods.

Card networks are working with the Metropolitan Transportation Authority to build on touchless fare collection for marketing and commerce.

The technology holds great promise for financial services, but it could be just as powerful for scammers looking to break payment card encryption. Visa, Mastercard and others are already building new defenses.

The company’s Tap to Phone technology exists in 30 countries. Visa is piloting the program in the U.S. with a six-city campaign that brings discounts, offers and grants to Black-owned small businesses.

During lockdown, adoption of services like mobile order-and-pay, biometric authentication, contactless fare collection and digital currency accelerated. Consumers have more options than ever — and their behaviors will guide further innovation.

The EMV specifications technology body has revised its requirements to ensure a consistent payment experience for cards, smartphones and wearables.

There are too many security, usability and reliability risks for QR codes to be the main driver of transit payment. NFC is likely better, says Carlypso Networks' Philippe Vappereau.

The pandemic spurred millions of merchants to add contactless payments within a year, pushing the number of global stores accepting contactless to 90%, according to new data from Mastercard.

The debate over whether NFC or QR codes is the best technology to adopt persists. So far, there has been plenty of room for both.

The debate over whether NFC or QR codes is the best technology to adopt still persists today. So far, there has been plenty of room for both.

Contactless ticketing innovation has long driven parallel adoption nearby retail. New work habits may change that dynamic.

Amazon.com is poised to bring its automated checkout technology to full-size supermarkets, a significant milestone in the race to revolutionize how people buy their groceries.

Amid success stories like Apple Pay, Google Pay and the Starbucks app, there are many wallet apps that failed to gain traction — or squandered it when they did. But there is a lot to learn from their experiences.

Banking and payments technology tester and certifier Fime is working with the government of India to develop the testing infrastructure for a national contactless transportation card and accompanying mobile app.

David Heun, associate editor at PaymentsSource, talks to Laura Socha, senior partner at Capco, about the trends driving the advancement of payment technologies in Canada.