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Tag - Visa
On the heels of a new promotion from Mastercard that allows Apple Pay users to ride free on the London Underground, Visa Europe is kicking off a two-month ad campaign that intends to show users why using Apple Pay in the UK is safer, faster, and easier than the current EMV (chip and PIN) card-based payment system. Titled "Anticipation," the first ad very elegantly communicates the ease, speed and yes, thrill of using Apple Pay.
Apple and Barclaycard have partnered on new credit card that grants users Apple Store gift cards. The Barclaycard Visa with Apple Rewards gets users a $25 card for every 2,500 points earned. In the past Apple only offered the Barclaycard iTunes Rewards Visa Card, which earned Mac buyers credit towards purchases at the iTunes Store.
A research analyst with Keefe, Bruyette & Woods, Sanjay Sakhrani, has published what he claims are the terms financial institutions must agree to in order to join Apple Pay. Apple is said to be receiving 15 basis points per credit card transaction (which translates to 15 cents for every $100 spent), and half a penny per debit transaction. Banks must allow 95 percent of their cards to be used with Apple Pay, not necessarily including gift or ATM-only cards.
A new report is claiming that Apple is accelerating its plans for a grand "digital wallet" mobile payments system, which could even be ready to debut in the same time frame as the expected "iPhone 6." The company is said to be in talks with Visa to create a partnership agreement that would allow consumers to pay for goods and services using only their iPhone, leveraging the "secure enclave" portion of the A7 chip and Touch ID to create what would be expected to be a seamless mobile payment system.
T-Mobile is attempting to take on the banking industry by launching a personal finance service that allows users to manage their funds via smartphone apps. Working with Bancor, Mobile Money allows users to add funds to a prepaid Visa debit card and perform most of the tasks typically associated with a checking account, though for a large number of every-day actions, there will apparently be no fees charged to customers.
Visa and Samsung has inked a deal that could help speed up the adoption of mobile payments globally. The initiative will see the phone manufacturer preload the Visa payWave applet onto future devices that use NFC technology, as well as helping financial institutions to push payment information to the mobile devices as an over-the-air update, for storage directly on the device.
A British hacker has been found guilty for his part in a Distributed Denial of Service attack against payment services. Anonymous member Christopher Weatherhead, attacked MasterCard, Visa, and Paypal after they turned away from processing payments for Wikileaks, as well as music industry companies, in attacks costing those involved over $5.6 million.
Google Wallet has received some major updates today. The mobile payments platform has opened up to accept all credit and debit cards from American Express, Discover, MasterCard, and Visa, with financial data stored in the cloud instead of on the handset itself. Twenty five national US retailers have partnered with Google for the service, and through a partnership with MasterCard PayPass, mobile payments can be performed at over 200,000 retail locations across the country.
Visa Europe on Monday revealed that its V.me by Visa digital wallet service will launch in the fall in the UK, Spain, and France. At the same time, payments processor WorldPay will be a key development partner of the platform in the UK. More partners, such as banks and retailers, will be named before the autumn.
Visa has dropped Global Payments from its registry of approved third-party payment card transaction processors. Visa took the step after it was revealed last Friday that the firm's security had been breached. Personal information for cardholders of nearly 1.5 million Visa and MasterCard cards could be at risk.