Convergence between payments, transit ticketing and mobility services is creating new technical and business challenges for India’s traditional urban mobility ecosystem. For public transport operators and authorities (PTOs and PTAs) to succeed, standardization and greater technical support will be essential to harmonizing these ecosystems.
Last year, American Express, Discover, Mastercard, and Visa each released their own “faster EMV®” processing solutions for optimizing online-only EMV transactions. These solutions give consumers the perception of a faster chip card transaction by allowing them to insert and remove their chip card from the terminal without waiting for the transaction to be finalized.
While many major banks in the U.S. have already made the switch to EMV chip cards to curb in-store counterfeit card fraud, smaller banks and independent ATM owners are still working on their issuance and/or ATM enablement projects. For smaller banks and ATM owners looking to get their migration plans in place, these are some key business considerations for EMV at the ATM.
Consumers are adjusting to paying with a ‘tap’, demanding greater convenience and efficiency from their payment solutions. Mobile payments have seen a huge boost in consumer adoption in recent years, spurred on by the backing of digital giants, with mobile payment revenues estimated to surpass $1 trillion in 2019.
There is a lot for U.S. issuers and acquirers to consider when thinking about incorporating contactless payments into their offering. And depending where they are in their EMV migration, it’s a bigger decision than just “yes” or “no.” With most banks having already issued their first round of chip cards, now is the time to consider incorporating EMV contactless in their next round of issuance, as well as NFC mobile payments.
Migrating to EMV at the ATM isn’t the same as migrating in stores – there are a lot of ATM-specific implementation, testing and certification considerations that should be considered to make the transition as smooth as possible.
Mobile World Congress brings together the biggest names in mobile, and the build up to Barcelona is always dominated by talk of ‘big-ticket’ product launches.
To be successful, however, mobile technology must be both secure and interoperable. It may be less glamorous, but hacks and failures can have a catastrophic impact on a brands’ image, reputation and, ultimately, their bottom-line.
So, behind the attraction of the latest VR solution and mobile handset launches, what will be the hot topics crit
Mobile payments have arrived. Increased awareness and acceptance is fuelling consumer demand and driving adoption across the globe. The figures speak for themselves. In Europe, 2016 saw mobile payments usage triple, with over 50% of European consumers regularly making payments using their mobile devices. Looking at the worldwide picture, mobile payment revenues are estimated to surpass $1 trillion in 2019.
With worldwide shipments of wearable devices predicted to top 110 million by the end of 2016, a figure expected to have doubled to over 220 million by 2020, there’s no denying that wearables are here to stay. Etienne Audebert, Product Manager at FIME, looks at how payments can monetize the wearables market and drive the growth of this lucrative sector.