Fiserv completes ‘Pin on Mobile’ transaction
SCA compliant contactless payments for Internet shopping
Coinbase becomes Visa principal member
UK Access to cash worries and positive initiative
Mastercard Cyber Resilience Centre
GDPR in conflict with facial recognition
EC Data and AI strategies
FCA Sector views give warnings
Following security testing, the solution, developed jointly with Visa, Samsung, and PayCore, is being piloted in Poland by First Data. The solution facilitates secure PIN entry on a consumer-grade mobile device, simplifying. payment acceptance by allowing merchants to accept PIN-based contactless transactions without the need for a separate card reader or PED.
The solution eliminates the need for users to type any card information, usernames, passwords, etc when buying online. Shoppers merely tap their contactless card on the back of their smartphone to enable the payment. If the purchase is above the contactless limit, the cardholder enters their usual PIN code on their phone.
The Coinbase Visa debit card launched in the UK in 2019, enables customers to spend their crypto assets at POS and online. The Card is now available to customers in 29 markets, who can spend 10 cryptocurrencies in merchant locations globally. Visa membership will enable Coinbase to offer more features and support in more markets.
Access to Cash – UK’s cash system ‘will collapse without new laws’.
The campaign group is calling on the new Chancellor to take action in his first Budget on 11 March – “without urgent new laws the cash system could collapse within a decade”. But….
The Community Access to Cash Pilots initiative is being launched to help communities trial solutions.
Communities are being encouraged to apply to participate in the new Community Access to Cash Pilots which will help to test solutions to local access to cash needs, with the goal of developing scalable solutions which can inform national policy.
The centre, located at Mastercard’s HQ in Belgium, will drive collaboration between both public and private sectors, as well as regulatory bodies to serve as a single cybersecurity hub for the region.
EC – Margrethe Vestager has said GDPR makes automatic identification through facial recognition technology illegal.
There are, however, exemptions to the rule with regards to public security and the EC will take some time before deciding on how to legislate facial recognition remotely. Meanwhile it will not prevent national initiatives from using the technology according to existing rules.
A memo released by the EC Executive Vice-President Valdis Dombrovskis says the EC is still trying to figure out what to do about Libra.
Many new payments firms have been able to enter the market and grow quickly, but some of their products don’t have protection in place for consumers, for example e-money services advertised as ‘current accounts’ aren’t covered by the Financial Services Compensation Scheme.