Gallant Capital acquires Fime and UL Solutions’ payments testing business to create a global leader in payments, smart mobility & digital ID. May 07, 2024

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Interoperability paves the way for innovation. A unified ticketing network with pooled resources can enable investment in technologies that would typically be beyond the means of a single operator. This investment can create operational efficiencies, drive new streams of revenue, and help safeguard key payments and passenger movement data. This helps create a seamless, accessible and inclusive ticketing network that meets the needs of all passengers.

Implementation is always one of the most challenging parts of any product roll out. From getting commuters to work every day, to giving people the means to travel to see friends and family, the public transport is an integral aspect of people’s everyday lives. And in ticketing, the pressures to deliver this larger scope in a short amount of time are considerable.

Our world is increasingly connected, and this brings with it an increased demand for digital solutions. This includes payments, with consumers now expecting them to be faster, more convenient and more secure than ever. Instant payments promise not only to meet these expectations but also surpass the capabilities of any current method of payment. It is on this basis that the European Payments Initiative (EPI) aims to change the way Europe pays.

As the world continues to experience a significant shift towards digital commerce, fraud has increased substantially. The pandemic has further exacerbated this trend, with fraud rates skyrocketing over the past year.

Developing and maintaining an interoperable ticketing scheme for an entire city, region or beyond presents many challenges. And while creating an interoperable scheme has a multitude of benefits, unified ticketing requires unified leadership. It is imperative that the authorities and operators working for a common system establish both a short-term and long-term vision for the project.

Domestic schemes in many countries have grown from strength to strength, digitalizing and innovating to keep up with their international counterparts. One area where it is especially important to keep pace is cardholder authentication. It is imperative that domestic schemes provide state of the art security without inhibiting the user experience.

In today's digital age, payments have become increasingly strategic for merchants, especially when it comes to their customer relationships. Payment solutions play a critical role in helping merchants to convert sales and build customer loyalty. Poor payment implementation has an immediate impact on conversion rates, and therefore on the merchant's bottom line.

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.

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.

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.

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.

The value of digital transactions was projected to reach $8.49 trillion (USD) in 2022, growing annually thereafter by 12.31% to a projected $15.17 trillion (USD) by 2027. At the same time, in the onli...

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.

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.

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.

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.

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.

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