Singapore’s UOB First Bank to Use Visa Token Service for HCE App Outside of U.S., Shunning Alternate PANs

NFC Times Exclusive Insight – Despite other large banks outside of the U.S. using their own tokenization for early commercial launches of mobile payments with host card emulation, Singapore’s United Overseas Bank told NFC Times it decided to go with tokenization from Visa and soon from MasterCard for its new HCE-based service.

The choice of tokenization from Visa makes UOB the first bank to use the Visa Token Service for a bank-issued wallet app outside of the U.S., noted Aaron Chiew, head of mobile, payments and digital sales, UOB. 

Although UOB launched its HCE-enabled mobile-banking app, UOB Mighty, last week to some unfavorable reviews, most of the complaints were not directly related to the payments feature, and the bank contended that most of the bugs and other problems are due to users rooting their Android devices or jailbreaking their iOS devices. But the payment service, which is available only on Android phones, does not yet work on Sony NFC devices and at least a couple of Nexus devices, even though all or most of these devices support HCE technology. 

This premium content is only available to subscribers.
Article has about 1780 words.

To Keep Reading, Subscribe Today

Get access to all premium content and the world’s first global newsletter devoted to the NFC and contactless markets by subscribing to NFC Times, the most authoritative source for news and analysis in the industry.

Subscription Options

HEADLINE NEWS

Visa Expands Token Service Provider ‘Partner’ Program, Though Most Vendors Not Yet Integrated with VTS

NFC TIMES Exclusive Insight ­– Visa this week announced a new list of 13 “partner” companies to help it distribute and manage Visa-generated tokens, which the network giant is promoting for use in what it hopes will be large-scale rollouts of Internet of Things devices that can do payments.

Analysis: Apple Apparently Sees Need for Additional Pairing Technology with Support for NFC Tag Reading

NFC TIMES Exclusive Insight ­– Nearly three years after embracing NFC technology for mobile payments but declining to support NFC’s tag-reading mode, Apple, in a surprise move, is adding tag-reading support to its NFC-enabled devices, including the iPhone 7 series and forthcoming iPhone 8, as well as its Apple Watch.

Exclusive: Major U.S. Processors Say In-Store Transactions for Pays Wallets Remain Disappointing

NFC TIMES Exclusive – Apple Pay and the other major Pays wallets still only account for around 1% of card transactions in the U.S., three major processors told NFC Times. At least two of the processors say they haven’t seen growth in Apple Pay over at least the past year.

Alipay North America Chief Insists Company has No Plans for U.S.-Based Wallet

NFC TIMES Exclusive –  Alipay has no plans today to introduce a mobile wallet in the U.S., and is instead expanding its merchant acceptance footprint in the U.S. only to serve Chinese visitors, Souheil Badran, president of Alipay North America, told NFC Times.

NFC Secure Element Shipments Likely Dropped for First Time in 2016, and Vendor Group Cuts Forecast for 2017

NFC TIMES Exclusive Insight – Shipments of NFC secure elements almost certainly fell in 2016, based on recent figures released by vendor association Eurosmart, though the group is again declining to release specific shipment figures for NFC cards and embedded chips, instead combining the NFC unit shipments with those for machine-to-machine modules.

Samsung Pay Launches Commercially in Taiwan; No. 4 Credit Card Issuer Taishin Reveals Apple Pay Card Adds

NFC TIMES Exclusive Insight – Samsung made it official, launching Samsung Pay commercially today in Taiwan with seven banks, as expected, following Apple Pay to the market by about two months and beating Android Pay, which is expected to launch on the island nation as early as next week. 

Why is Mobile Wallet Adoption So Disappointing? Some Industry Players Weigh In

NFC TIMES Exclusive –  NFC wallets are failing to catch on in the U.S., especially for in-store transactions, for a variety of reasons, including poor awareness among consumers and cashiers, lack of full buy-in from merchants, problems with certifying terminals for contactless and an insufficient value proposition, said industry players, including a representative from Google.

Samsung Pay Launches in UK Without Major Banks or MST Technology

NFC TIMES Exclusive Insight – Samsung today finally launched its Samsung Pay mobile payments service in the UK, well behind rival payments services Apple Pay and Android Pay.

Wal-Mart Still Balks at Accepting NFC; Nordstrom Wants Right to Refuse Some NFC Wallets

NFC TIMES Exclusive – LAS VEGAS, Nev.: It’s been more than two and a half years since Apple Pay launched in the U.S., and retail giant Wal-Mart Stores still is no closer to accepting NFC at its 4,000-plus stores in the U.S. then when Apple began rolling out its NFC-enabled mobile payments service in October of 2014.

Apple Testing Loyalty Feature; Google Expected to Expand Payments for Home Device

NFC TIMES Exclusive – As they struggle with low user adoption of their respective wallets in the U.S., Apple and Google are seeking to add more features, hoping to increase transactions, NFC Times has learned.

Taiwan Chief Banking Regulator Reveals Apple Pay Card Adds; Samsung Launches Early Access in Country

NFC TIMES Exclusive Insight – The chairman of Taiwan’s banking regulator, the Financial Supervisory Commission, Wednesday revealed just how fast a start Apple Pay got on the island nation, following its launch of the mobile payments service there in late March.

Analysis: Cook Touts Apple Pay's 'Phenomenal Traction,' but Figures–or Lack of Them–Tell Another Tale

NFC TIMES Exclusive Insight – Apple CEO Tim Cook, with typical enthusiasm, touted Apple Pay’s “phenomenal traction” yesterday in a conference call with analysts. But with one exception, he again failed to release any actual transaction figures for the mobile payments service, while also apparently overstating the contactless and NFC acceptance footprint in the U.S.