Topic “Payments wearables”

Swatch Pay One of the First Low-Tech Payments Wearables That Can be Provisioned After the Sale: How It Works

Jul 21 2017

NFC TIMES Exclusive Insight – While such smartwatches as the Apple Watch are routinely provisioned with payments cards after they are in the hands of consumers, that hasn’t been the case for low-tech analog watches. Swatch Pay could change that.

Energy Drink Promotion Features Different Way to Put Payment Applications Onto Objects

By: 
Dan Balaban

NFC TIMES Exclusive Insight – While the recent promotion by the makers of Lucozade Energy drinks in the UK, which enabled users to tap their bottles on contactless readers to redeem free rides on the London Underground, may have been just a clever marketing stunt, the way the drinks company got the prepaid EMV application onto the bottles broke the mold for how such applications usually get provisioned.

Vendor Blames Certification Woes for Slow Rollout of Payments Wearables

NFC TIMES Exclusive – A costly and time-consuming payments wearables certification process is a major contributor to delays in payments wearables getting into the hands of more consumers, Israel-based On Track Innovations’ director of marketing and head of innovations Nir Barr told NFC Times.

Samsung Semiconductor Faces Challenges in Rolling Out Contactless-Payments Service for Wearables

NFC TIMES Exclusive Insight – Samsung Semiconductor believes there is room for yet another closed-loop payments service, one that enables consumers to pay with contactless wearables devices that carry its dual-interface chips.

Analysis: OTI Attempts Seeks to Enable Payments on Wearables

Mar 24 2016

NFC Times Exclusive Insight – Israel-based contactless reader and NFC vendor On Track Innovations is hoping a planned move to enable the provisioning of payment applications onto wearable devices, will generate recurring revenue and help bolster its finances.

Provisioning Companies for Payments Wearables Say Devices Headed to Market; Tokenization Key to Achieving Scale

By: 
Dan Balaban

NFC Times Exclusive Insight – As payments companies pin their hopes on wearables becoming the next wave of portable payments devices, not surprisingly there is more hype than substance when it comes to commercial launches.

After False Start, NXP Adds Wearables as Target for Embedded Chip Loader Service

NFC Times Exclusive Insight – NXP Semiconductors will take another crack at rolling out its “loader service,” which seeks to make it easier for service providers to load payment and other applications on the chip maker’s embedded secure elements by managing keys on the chip.

Apple Drives Nascent NFC Payments Wearables Market with Arrival This Week of Apple Watch

NFC Times Exclusive Insight – With the first Apple Watch units set to be delivered this week, NFC payments for wearable devices becomes a budding market, though it remains to be seen whether consumers want to tap their watches or wristbands to pay.

HEADLINE NEWS

In-Depth: Garmin Pay Provisioning Company Fit Pay Hopes to Build on Early Lead with Spin-Off, but Larger Competitors are Gearing Up

NFC TIMES Exclusive Insight – U.S.-based Nxt-ID disclosed late Thursday that the spin-off of its payments unit, Fit Pay, which provides bank card provisioning for Garmin Pay, would again be delayed, as it waits another couple of weeks for the closing of a nearly $17 million loan it needs to move forward with the new company.

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.