The rapid growth in the Internet of Things (IoT) and connectivity is transforming industry sectors that previously have been left untouched by the world of connected devices. In areas ranging from large-scale infrastructure projects down to fish tank temperature sensors (1), linked devices are now ubiquitous - and each and every one of them is at risk of attack.
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Consumers are now used to tapping their card to make payments. The problem is, not all merchants can afford the onboarding and maintenance fees of legacy point of sale (POS) systems. This is a notable obstacle, especially as the COVID-19 pandemic has accelerated digitalization, leading to a surge in contactless payments.
This year’s TTG brought together engaged stakeholders from throughout the public transport community for two days of insightful keynotes, panels and discussions.
So, what are the key challenges and opportunities facing the transport ticketing ecosystem? While many topics were discussed by the major players in ticketing, a few key themes stood out.
As the number of devices and connected services rise, our lives are becoming increasingly digitized. Keeping up with this evolving landscape is vital, and 2023 promises to bring with it a host of new use cases and innovations.
Biometric authentication offers an innovative way for a user to authenticate themselves. A user’s face, iris, fingerprint or even voice can be used to authenticate a payment. This provides a seamless user experience without compromising on security. However, a successful project requires careful strategic planning and execution to navigate the necessary security and regulatory challenges.
As adoption of biometric authentication increases, so does the need to ensure that biometric systems are resistant to attacks. Presentation attacks, such spoofing, which aim to "spoof" a biometric verification or identification procedure, can compromise biometric authentication. Fime is exploring how to transform genuine biometric images into synthetic spoofs and evaluate the robustness of biometric systems in detecting presentation attacks.
Increasingly, strong security measures are required to protect valuable data from fraudsters. However, as security measures increase in complexity, the process becomes more cumbersome for consumers.
With digital payments picking up steam around the world, it could be said that the future of the physical card is uncertain. The COVID-19 pandemic has accelerated the rate of digitalization, with new ways to make a touchless card payment – such as QR codes, mobile wallets and contactless payments – becoming widespread.
Transport ticketing has rapidly evolved in the digital age. As recently as the 1990s, closed loop systems based around paper tickets or tokens were the norm. This resulted in a poor user experience. Lines to purchase tickets were often long, and turnstile throughput was inefficient. Today, passengers can use a smartcard or even their phone as their ticket, utilizing contactless and Near Field Communication (NFC) functionality to tap-and-go.
User adoption of biometric authentication has accelerated in recent years, yet some users are still cautious. Fime is exploring ways to innovate on biometric evaluation to help solution providers to launch reliable and high-performance products. In this interview, Communications Director Stéphanie Pietri speaks to Joël and Abdarahmane about Fime’s recently published paper on environmental impact.
The European Payments Initiative (EPI) is aiming to provide a pan-European payments solution. EPI aims to set itself apart from other payment methods and address the challenges created by the fragmentation of the European payments landscape.
Instant payments are electronic payments processed in real time, with funds immediately made available to the recipient. In 2020, instant payments surged globally by 41%, demonstrating increasing demand.
It was good to be back! Money 20/20 Europe 2021 brought together key players from throughout payments for a series of presentations and debates on the key concerns and opportunities within the industry. From global leaders to dynamic startups, the event brought together over 1,500 people to share thoughts and ideas.
Across both in-person and online payments, consumer demands have significantly increased. Easy, interconnected payment solutions are now expected, leaving merchants constantly looking for ways to prov...
Today, contactless cards provide a fast and frictionless payment experience, where up to a certain value, the normal cardholder verification method of entering a PIN is not needed. It has revolutionized payments for low value items.
Transport ticketing has rapidly evolved in the digital age. As recently as the 1990s, closed loop systems based around paper tickets or tokens were the norm. This resulted in a poor user experience. Lines to purchase tickets were often long, and turnstile throughput was inefficient. Today, passengers can use a smartcard or even their phone as their ticket, utilizing contactless and Near Field Communication (NFC) functionality to tap-and-go.
Fintechs aim to challenge traditional financial services thinking with the use of innovative technologies. In doing so, they can often provide a better user experience than entrenched methods. These improvements include speeding up transactions, lowering the number of rejected payments, giving greater insight into finances and creating more seamless payment processes.
The trend towards biometric authentication has been further accelerated by the global pandemic. Hygienic touchless identification solutions have become critically important. And, with customers already familiar with using biometric solutions on their phones, the growth of this industry only looks to continue. In this blog we will evaluate this growth and discuss some of the potential opportunities and challenges that lie ahead.
Digital payments have sky-rocketed in popularity as consumers have sought new, more hygienic ways to pay. SoftPOS payments offer numerous benefits to consumers and merchants alike. Comprised of software solutions that run on Android Commercial Off-The-Shelf (COTS) devices, they can enable digital payment acceptance in a cost-effective and simple way.
In today’s frequently changing payments landscape, stakeholders are embracing new technologies to reflect shifting consumer behaviors. One such technology is SoftPOS, a solution which uses Commercial Off-The-Shelf (COTS) devices to accept contactless payments. In fact, 41% of small business owners are investigating the possibility of accepting payments via mobile device.
SoftPOS solutions harness untapped potential of smartphones and address a wide range of use cases that could change the retail game for merchants and consumers. But the success of this technology rest...
The global digital payment market is expected to reach $236.10 billion by 2028. With much of this growth attributed to the emergence of new technologies, those looking to capitalize on the growth of digital might not know where to start.
With the global digital payments market set to be worth some $8,059.3 billion by 2023 , at a CAGR of 20%, payments are undergoing a rapid period of growth and transformation.
New payment methods, such as real-time payments, initiatives such as open banking, and technologies like as biometrics, all contribute to a constantly evolving ecosystem. The potential for innovation and optimization is clear.
But if this value is to be realized, players must first ensure the security and interoperability of new products and technologies. A robust certification process is one way to achieve this.
The Japanese payments market has long been something of a paradox. On the one hand, Japan boasts the third-largest economy in the world and is a culture synonymous with high-tech and innovation.
Stéphanie Pietri, Brand & Digital Marketing Director at Fime spoke with the Fime CEO Lionel Grosclaude to discuss how the company has changed and how this new Fime embodies our vision for the future.
After several months of research, 16 banks representing five European countries (Belgium, France, Germany, the Netherlands and Spain) approved the official launch of a new European payment scheme called the European Payments Initiative (EPI).
After several months of research, 16 banks representing five European countries (Belgium, France, Germany, the Netherlands and Spain) approved the official launch of a new European payment scheme called the European Payments Initiative (EPI).
After several months of research, 16 banks representing five European countries (Belgium, France, Germany, the Netherlands and Spain) approved the official launch of a new European payment scheme called the European Payments Initiative (EPI).
After several months of research, 16 banks representing 5 European countries (Belgium, France, Germany, the Netherlands and Spain) approved the official launch of a new European payment scheme called the European Payments Initiative (EPI) on July 2nd 2020. In this series, we explore the purpose of the initiative and how it plans to achieve its ambitious goals.
In this Q&A, we speak to Pierre Aurel, Product Manager at Synthesis, to learn more about how Fime supported them to achieve the first automated Mastercard TEI accreditation for a new SoftPOS solution.
In this Q&A, we speak to Pierre Aurel, Product Manager at Synthesis, to learn more about how FIME supported them to achieve the first automated Mastercard TEI accreditation for a new SoftPOS solution.
In this Q&A, we speak to Pierre Aurel, Product Manager at Synthesis, to learn more about how FIME supported them to achieve the first automated Mastercard TEI accreditation for a new SoftPOS solution.
In this Q&A, we speak to Pierre Aurel, Product Manager at Synthesis, to learn more about how FIME supported them to achieve the first automated Mastercard TEI accreditation for a new SoftPOS solution.
In this Q&A, we speak to Pierre Aurel, Product Manager at Synthesis, to learn more about how FIME supported them to achieve the first automated Mastercard TEI accreditation for a new SoftPOS solution.
In this Q&A, we speak to Pierre Aurel, Product Manager at Synthesis, to learn more about how FIME supported them to achieve the first automated Mastercard TEI accreditation for a new SoftPOS solution.
As None [1] data breaches continue to rise globally, protecting the integrity of customer data (especially in the payments world) is vital. One essential security standard helping keep such data sec...
As None [1] data breaches continue to rise globally, protecting the integrity of customer data (especially in the payments world) is vital. One essential security standard helping keep such data sec...
As None [1] data breaches continue to rise globally, protecting the integrity of customer data (especially in the payments world) is vital. One essential security standard helping keep such data sec...
As None [1] data breaches continue to rise globally, protecting the integrity of customer data (especially in the payments world) is vital. One essential security standard helping keep such data sec...
In this Q&A, we speak to Pierre Aurel, Product Manager at Synthesis, to learn more about how FIME supported them to achieve the first automated Mastercard TEI accreditation for a new SoftPOS solution.
Urban mobility is making great advancements in India. Rising consumer demands and government initiatives have driven the creation of more innovative, secure mobility services and, most recently the cr...
In this Q&A, we speak to Pierre Aurel, Product Manager at Synthesis, to learn more about how FIME supported them to achieve the first automated Mastercard TEI accreditation for a new SoftPOS solution.
*Account-based ticketing, or ABT, is high on the transport industry’s agenda. It offers travellers choice and flexibility in the fare media they use – whether that be a smartphone, wearable, smartcard...
None [1] Transport Ticketing Global has rapidly become the event for the transport ticketing industry, growing in popularity year on year. So much so, in fact, that the audience has outgrown the conf...
Standards. They form a significant part of the end-to-end financial services testing and consulting Fime provides, and in the world of payments, they’re far from new. Yet, despite a lot being achieved...
In this Q&A, we speak to Pierre Aurel, Product Manager at Synthesis, to learn more about how FIME supported them to achieve the first automated Mastercard TEI accreditation for a new SoftPOS solution.
Transport ticketing is an interesting and complex ecosystem that’s seen a rapid period of evolution in recent years. With an increasing convergence with payments, the rise in new form factors and the ...
Open banking. In the last year or so, this concept has given Europe’s financial world a lot to grapple with. The implementation of some pretty historic legislation (did someone say PSD2?), and the ent...
In this Q&A, we speak to Pierre Aurel, Product Manager at Synthesis, to learn more about how FIME supported them to achieve the first automated Mastercard TEI accreditation for a new SoftPOS solution.
China’s love affair with mobile has grown rapidly. With the staggering popularity of mobile-based social applications such as WeChat, its unsurprising over 70% of handsets in the country are now smart...
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