Topic “Payments wearables”

Denmark’s Largest Bank Pilots Own Payments Wearables, Choosing Low-Tech Option Over Apple Watch

Oct 13 2018

NFC TIMES Exclusive Insight – Danske Bank, Denmark’s largest financial institution, is pitting its planned low-tech FastPay payments wearables against Apple Watch and some other higher-end wearables using tokenization, as it launches a large pilot starting this month in Denmark, Sweden and Norway.

Chinese Wearables Makers Begin to Introduce Low-Cost Devices Supporting NFC Payments

NFC TIMES Exclusive Insight – A new smartwatch from low-cost Chinese wearables maker Huami and the latest fitness band version from Huami’s major investor and partner, Xiaomi, both support transit and retail payments–making them among the first budget smart wearables devices supporting NFC payments.

Fossil Expands Support for NFC Payments, as It Continues Push into Smartwatch Market

NFC TIMES Exclusive Insight – U.S.-based Fossil Group is pushing deeper into the smartwatch market, as it seeks to diversify from the financially strapped traditional watch market. Among the apps Fossil is offering on several new smartwatch models are Google Pay and Alipay, the latter in China.

Fitbit Unveils First Non-Smartwatch Supporting NFC Payments Service, but Progress of Device Rollout Slow

Oct 13 2018

NFC TIMES Exclusive Insight ­– U.S.-based wearables maker Fitbit in November plans to release its first non-smartwatch supporting its payments service, Fitbit Pay, with the recent unveiling of its new health and fitness tracker Charge 3–but as with its Versa smartwatch, released in April, the NFC payments feature will only be available on a “special edition” version of the tracker in the U.S. and likely in some other markets.

Dominant NFC Chip Supplier Seeks to Move Up Value Chain by Providing More Services

NFC TIMES Exclusive – NXP Semiconductors, the dominant supplier of NFC chips and secure elements for smartphones and wearables, is seeking to push further up the value chain, offering such services as a white-label wallet platform and provisioning of bank and transit payments applications.

Traditional Watchmaker Fossil Adds NFC Payments, Heart Monitor to Smartwatch Line, as It Seeks to Reverse Earnings Slump

NFC TIMES Exclusive Insight – Struggling U.S.-based watchmaker Fossil has introduced NFC for the first time, in its Q line of smartwatches, hoping the support for Google Pay and other smartwatch applications will help the mainly traditional watchmaker to stay competitive as more consumers turn away from traditional watches.

Apple to Enable Campus ID Cards in Wallet but Doesn’t Announce Opening of NFC Chip

NFC TIMES Exclusive Insight – Apple will enable colleges and universities to add NFC-based student ID cards to its Wallet with OS upgrades to its Apple Watch and iPhone, the tech giant announced Monday on the opening day of its Worldwide Developers Conference.

Barclays Embeds Contactless Chips in Bands for Brand-Name Watchmakers, Hoping to Boost Payments Wearables

NFC TIMES Exclusive Insight ­– The first contactless payments wearables resulting from UK-based Barclays partnerships with seven mostly analog watchmakers are beginning to roll out, with more planned–all using the bank’s bPay contactless chips and payments service.

Second Smartwatch Supports Fitbit Pay, but Payments Service Remains Fragmented

NFC TIMES Exclusive Insight – Struggling wearables maker Fitbit on Monday began selling its second smartwatch, the Fitbit Versa, supporting its NFC-enabled Fitbit Pay service, but not all versions of the new device support NFC in the U.S.

Can Luxury Watchmaker TAG Heuer Sell Swiss Precision Along with NFC Payments? Its Latest Smartwatch Again Supports Android Pay

NFC TIMES Exclusive Insight – While payments wearables, in general, are taking off more slowly than expected, a number of manufacturers are incorporating the feature in their high-end watches and that includes Switzerland-based luxury watchmaker TAG Heuer.

HEADLINE NEWS

In-Depth: Australia’s No. 2 City Shuns Open-Loop Transit Payments, Sticking with Closed-Loop Mifare for Launch of Mobile Service

Apr 10 2019

NFC TIMES Exclusive Insight – While Australia is the top market worldwide for use of contactless bank cards at retail, any hopes for those same open-loop cards and card credentials on NFC phones being used as part of a nationwide, interoperable transit payments service have been dashed for now. 

Analysis: Apple Announces Breakthrough with Apple Card, but is It Mostly Slick Marketing?

NFC TIMES Exclusive Insight – With typical style and élan, Apple introduced its new credit card, Apple Card, at a product launch event this week, one of several new services the tech giant is counting on to provide growth as its iPhone sales slip.

In-Depth: Nxt-ID Gets Much-Needed Financing, Clearing Way to Spin Off Its Payments Wearables Provisioning Unit Fit Pay

Apr 5 2019

NFC TIMES Exclusive Insight – U.S.-based Nxt-ID, whose Fit Pay unit provides payment card provisioning for Garmin Pay, has announced a closing date for a $16.5 million loan it will use for working capital and to refinance an existing loan.

Australia’s Commonwealth Bank Sees Jump in Mobile Transactions with Apple Pay, Though Still Small Share of Total Card Use

NFC TIMES Exclusive Insight – Commonwealth Bank of Australia, one of Australia’s largest banks, has said its mobile wallet transactions have increased by nearly three times in the two months since introducing Apple Pay, according to a report, though the bank declines to release any actual transaction figures, and mobile transactions still are believed to make up a very small percentage of total transactions.

In-Depth: Singapore Prepares to Launch Acceptance of Open-Loop Transit Payments Following Lengthy Trial

NFC TIMES Exclusive InsightWhen it launches its SimplyGo service April 4, Singapore’s Land Transport Authority will become the first major transit authority in Asia outside of China to launch acceptance of open-loop payments of fares.

Analysis: NFC Forum’s New Money Transfer Spec Likely Too Little, Too Late to Reverse QR Growth Trends

NFC TIMES Exclusive – As QR code-based mobile payments continue to threaten take-up of NFC technology, especially in Asia, the NFC Forum industry trade group is taking action.

Developer of Visa Transit SAM Says Technology Could Help Turn Closed-Loop Ticketing System into EMV Payments Service

Mar 14 2019

NFC TIMES Exclusive – The developer of Visa’s new transit secure-access module, or SAM, said the technology could potentially help turn even a low-end, closed-loop transit-ticketing system, such as Mifare Classic, into an EMV-enabled payments system–although that could still require transit operators to install new acceptance terminals, and they would still need to set up a back-end system to support it.

Swedish Watchmaker Latest Passive Wearables Maker with Plans to Enable Payments

NFC TIMES Exclusive Insight – Small Swedish analog watchmaker TRIWA next week plans to launch payments wearables enabled for tokenized Mastercard-branded cards issued by Swedish banking group SEB, with provisioning company Fidesmo telling NFC Times there will be more watch brands to come enabling payments.

Analysis: Apple’s Planned Credit Card with Goldman Sachs Unlikely to Significantly Boost Apple Pay

NFC TIMES Exclusive Insight – While Apple’s deal with Goldman Sachs to jointly roll out a new credit card this year integrated with Apple Pay and Apple’s devices made headlines Thursday, it was neither the first news of this partnership nor the first deal of its kind for Apple.

Sony Launches Smart Strap in Europe Supporting NFC Payments; High-End Device Costs as Much as Latest Apple Watch

Feb 16 2019

NFC TIMES Exclusive Insight – Sony has introduced its NFC-enabled smart watch strap, Wena, to the UK and Ireland, which will allow users to turn their analog watches into hybrid smartwatches and tap the straps to pay with tokenized EMV-compliant cards loaded into the devices from wallet apps.

Open-Loop Payments to Launch on London’s Airport Train Service with Calls for Further Expansion

Feb 15 2019

NFC TIMES Exclusive Insight – ­The Heathrow Express airport line serving London will begin accepting contactless open-loop payments along with closed-loop Oyster cards next week–more than six years after commuters first could pay by tapping their bank cards and NFC phones to ride on buses on the separate Transport for London system.

In-Depth: More U.S. Issuers to Join Contactless Card Rollout; Adoption Expected to Surpass NFC Wallets

NFC TIMES Exclusive Insight – There is more evidence that U.S. banks will be moving a substantial portion of their card base to contactless over the next few years, as they reissue their basic EMV cards with a contactless interface, giving American consumers more opportunities to tap to pay than ever before.