Tagged: contactless payments

January 7, 2021 @ 11:45 pm By Omar Faridi  |  

Philippines-based digital wallet GCash reportedly reached PHP 1 trillion (appr. $20.8 billion) in total transactions for the year 2020, which represents a 254% year-over-year (YoY) increase in transfers. Globe Fintech Innovations Inc. (Mynt), which manages GCash, is part of the portfolio firms of 917Ventures (one… Read More

January 3, 2021 @ 10:30 pm By Omar Faridi  |  

Google Pay for Android and iOS users now lets people see how much money they’ve spent during 2020. The expense tracking feature allows consumers to get a rough idea or estimate of their spending habits throughout the last year. Google Pay will also show users… Read More

January 3, 2021 @ 12:47 pm By Omar Faridi  |  

The limit on contactless payments might be increased from the current £45 to £100 in one of Britain’s very first steps away from European Union guidelines. The upper limit on touch-free or contactless payments might be raised to £100 after the suggestion was made to… Read More

January 2, 2021 @ 4:16 am By Omar Faridi  |  

Apple (NASDAQ:AAPL) is well-known for playing a key role in the global commercial market – especially when providing the latest mobile technology. The tech giant seems to be diversifying part of its business model by branching out into the banking sector – which could potentially… Read More

December 15, 2020 @ 9:37 pm By Omar Faridi  |  

Philippines based Fintech firm SquidPay Technology Inc. has acquired Php 100 million (appr. $2.08 million) in funding through a Series A round and Php 100 Million (appr. $1.04 million) line of credit – which was arranged by the Eastern Securities Development Corporation (for the company’s… Read More

November 15, 2020 @ 6:47 pm By Omar Faridi  |  

Will Graylin, an experienced tech entrepreneur and Founder of LoopPay (now Samsung Pay), has introduced a Fintech solution, called OV Valet – which is a secure Superkey and companion digital wallet app that supports touchless or contactless payments “at 94% of POS terminals.” As mentioned… Read More

October 21, 2020 @ 9:16 pm By Omar Faridi  |  

Mastercard, IDEMIA, and MatchMove will be piloting a fingerprint biometric card in Asia in order to improve the security and safety of contactless payments. According to a release, Mastercard will be partnering with IDEMIA, which offers “Augmented Identity” solutions, and MatchMove, a Singapore-based Fintech firm…. Read More

October 11, 2020 @ 12:07 pm By Omar Faridi  |  

Over two-thirds or 68% of Indian consumers are currently using digital or mobile banking platforms to settle transactions, according to a new report. The use of online banking services and contactless payments has increased significantly due to the COVID-19 crisis – which had led to… Read More

October 4, 2020 @ 4:04 pm By Omar Faridi  |  

Jodie Kelley, CEO of the Electronic Transactions Association (ETA), a major trade association for the global payments industry, representing more than 500 companies, has argued that the COVID-19 pandemic provides a strong impetus or reason to change how we interact and conduct transactions. Expressing views… Read More

October 1, 2020 @ 9:14 am By Omar Faridi  |  

UK-based Fintech firm JudoPay, which offers a mobile-first payment platform, has teamed up with Mastercard in order to promote the adoption of touch-free or contactless payment methods. JudoPay’s management noted that Mastercard would be helping the Fintech company with its expansion into the UK, Europe,… Read More

September 27, 2020 @ 4:18 pm By Omar Faridi  |  

Retail spending and activity levels in India have now recovered to around 90% of pre- COVID-19 levels after dropping to around 55-65% of their average back in April 2020. The pace of the adoption of digital services across major channels has accelerated due to the… Read More

September 11, 2020 @ 10:43 am By Omar Faridi  |  

The MENA region’s digital payments sector is projected to grow by 6.5% from 2020 to 2021. The Coronavirus crisis may have accelerated the shift towards the adoption of all-digital platforms and services, including virtual payments. The MENA region’s Fintech industry participants recently noted that the… Read More

September 9, 2020 @ 8:40 pm By Omar Faridi  |  

Fintech investments in Australia reached $376.5 million during H1 2020, which represents a 150% increase when compared to the same period from last year when $149.05 million for raised by Fintechs in the country. But there was a significant drop in mergers and acquisitions (M&A)… Read More

September 4, 2020 @ 7:41 pm By Omar Faridi  |  

Contactless transactions are expected to double the number of digital payments to $8.26 trillion by 2024, which is a key Fintech trend that has been accelerated due to COVID-19. Businesses are increasingly using contactless technology to improve customer experience and help them make secure payments,… Read More

September 4, 2020 @ 7:17 pm By Omar Faridi  |  

Digital solutions provider Thales is reportedly supplying the Commercial Bank of Kuwait (CBK) with its Gemalto Trusted Services Hub (TSH), which will allow the bank’s customers to perform secure contactless payments from their smartphones. According to a release, a tokenization process will be used to… Read More

September 2, 2020 @ 8:45 am By Omar Faridi  |  

Delivery Hero, a Berlin-based online delivery platform operating in the Middle East, has teamed up with Mastercard in order to digitize its entire payment process across all its products offered to MENA region customers. Delivery Hero app users will have the option to pay for… Read More

August 27, 2020 @ 2:02 pm By Omar Faridi  |  

BBVA, a Spanish multinational financial services company based in Madrid and Bilbao, Spain with nearly €700 billion in assets, is reportedly planning to conduct trials of its new software that allows merchants to take contactless payments via their Android mobile devices, without having to install… Read More

August 27, 2020 @ 7:21 am By Omar Faridi  |  

Germany-based digital bank N26, which offers a mobile banking platform, is celebrating its one year anniversary in the US with almost 500,000 customers. As mentioned in a release shared with Crowdfund Insider: “Since announcing its public US launch in partnership with Axos Bank in August… Read More

August 24, 2020 @ 7:51 am By Omar Faridi  |  

Countries throughout the world are struggling to cope with the COVID-19 outbreak and resulting socio-economic challenges. Although many places have been trying to re-open for business and lockdowns are being eased, globally, there might be a second wave of the Coronavirus that could lead to… Read More

August 12, 2020 @ 9:46 pm By Omar Faridi  |  

The South Korean city of Seongnam is reportedly planning to expand its blockchain or distributed ledger tech (DLT)-enabled payment platform by introducing digital gift certificates. The city’s DLT based payments platform will be accessible via a mobile app, called Chak. The app has been developed… Read More