HEADLINE NEWS

Taxis in Major U.S. Cities to Get NFC-Enabled Video Ads

Riders in 5,000 taxicabs in the U.S. would be able to tap on NFC tags on video advertising screens to download apps, brand information, coupons, maps, music and videos, according to technology suppliers that have equipped the taxis for potential advertising campaigns.

Analyst: Banks Have More to Fear from Cloud-Based Technologies Than NFC

Banks have much more to fear from cloud-based mobile payment than from NFC, even if mobile operators control the secure elements that hold the banks’ payment applications.

GSMA Proposes Global Standard for NFC-Enabled Loyalty and Couponing–Using SIM Cards

May 10 2013 (All day)

The GSMA mobile operator trade group is proposing a global standard for how point-of-sale terminals talk to NFC-enabled mobile wallets to enable consumers to redeem coupons and rewards.

Taiwanese Bank Gets Approval for NFC-Enabled Credit Cards; Okay for Other Banks Expected

Taiwanese banking regulators, as expected, have approved the first bank to issue mobile credit cards that could be downloaded over the air to SIM cards.

UK Retailer Marks & Spencer Sees Growing Use of Contactless

Marks & Spencer, one of the UK’s largest retailers, announced today it had rolled out contactless payment to 644 of its UK stores and said 14% of its card transactions under £20 (US$30.97) are contactless.

Identive Reports Growing NFC Business; Blames Flat Sales, Losses, on U.S. Budget Cuts

U.S.-based Identive Group reported growing NFC and smart card reader business, but fell back into the red during for the first quarter, a loss it largely blamed on U.S. federal government budget cuts.

German Bank and Telco Hold Small NFC Trial; Larger Launches Planned in Country This Year

As Germany gears up for NFC, German bank Dortmunder Volksbank along with Telefónica (O2) Germany have launched a small pilot putting a credit application onto SIM cards in Western Germany.

Cashless Technology Company Announces Rollout of Isis SmartTap on Vending Machines

Vending technology company USA Technologies plans to integrate the SmartTap mobile-commerce software into all of the company’s nearly 100,000 NFC-enabled terminals on vending machines nationwide.

Vendor Group: NFC Secure Element Market to Grow by Two-Thirds This Year

Smart card vendor association Eurosmart has substantially increased its estimate for NFC secure element shipments for 2012–by 50% to 150 million units–and forecasts that secure element shipments will grow by another 67% in 2013 to 250 million units.

Gemalto Reveals Some Details of MCX Deal; Vendor Will Earn Fees for Transactions

France-based smart card and security vendor Gemalto will operate the mobile-payment platform for U.S. merchant group MCX, earning a fee for every transaction, in addition to what appears to be a hosting fee it says is worth tens of millions.

Inside Reports NFC Revenue Down Sharply in First Quarter; Some Recovery Expected in Q2

France-based chip supplier Inside Secure today reported a sharp decline in its revenue in the first quarter from its NFC chips, blaming the situation on excess inventories of NFC chips on hand by its main customer BlackBerry.

Australian Supermarket Chain Sees Fast Take-Up of Contactless Payment

More than half of credit card transactions at Australian supermarket chain Coles are contactless, and the merchant hit the milestone just over six months after rolling out contactless terminals across its more than 700 supermarkets.

Google Restores Prepaid Card Issuance to Wallet after Plugging Security Hole

Google Wallet chief Osama Bedier late Tuesday said the Web giant had restored the ability to issue new prepaid cards to the wallet after implementing a fix.

The fix prevents existing prepaid cards from being “reprovisioned” by other users.

“While we’re not aware of any abuse of prepaid cards or the Wallet PIN resulting from these recent reports, we took this step as a precaution to ensure the security of our Wallet customers,” Osama Bedier, vice president for Google Wallet and payments, said in an update to the Google Commerce blog.

The hack came to light last Thursday, which showed how unauthorized users could clear data from the Google Wallet app settings, then set a new PIN and gain access to any unspent balance in the Google Prepaid Card account already on the phone. Google temporarily suspended issuance of new prepaid cards to the wallet.

The hack could have left wallet phones vulnerable if the legitimate Google Prepaid cardholder lost his phone or had it stolen and hadn’t enabled the phone's screen lock.

“We took this step as a precaution until we issue a permanent fix soon,” Bedier, vice president for Google Wallet and payments, said in his original blog post Saturday.

This hack followed a more complex attack revealed a week ago on the PIN protecting the wallet. It would require a brute-force attack and the hacker would have to have possession of the phone and install PIN-cracking software. Moreover, the device would have to be rooted. Somewhat similar to jail breaking of an iPhone, rooting an Android phone gives users root access to the file system. 

Bedier in his original statement said Google Wallet phone users shouldn’t root their devices, because this disables security measures, apparently including safeguards erected to protect the Wallet PIN. “That’s why in most cases, rooting your phone will cause your Google Wallet data to be automatically wiped from the device,” said Bedier.

While the two hacks are not considered major threats to the payment applications in the wallet, which remains much more secure than leather wallets and magnetic-stripe cards, the vulnerabilities got a lot of play in the press, which creates another problem for Google as it seeks to encourage more consumers to use the wallet.

Many consumers already have security fears about paying with their smartphones. At present, only one phone officially supports the wallet and few merchants can support the Web giant's SingleTap technology, with both payments and offers at the point of sale. 

First Data handles Google's Prepaid Card program.